Common use of Actions on Closing Date Clause in Contracts

Actions on Closing Date. Subject to satisfaction of the ----------------------- applicable conditions precedent set forth in Sections 3, 4 and 5, on the Closing Date: (a) the Owner Participant shall make the Investment required to be made by it on the Closing Date; (b) the Pass Through Trustee, as a Loan Participant, shall pay to the Owner Trust the purchase price for the Secured Note required to be purchased by it on the Closing Date, the Owner Trust shall execute and deliver to the Indenture Trustee the Secured Note, and the Indenture Trustee shall authenticate and register the Secured Note and shall deliver the Secured Note to the Pass Through Trustee, as a Loan Participant; and (c) simultaneously therewith, the Owner Trust shall enter into the Charter with the Owner Trust; and (d) if the Delivery Date shall have occurred, the Charterer shall sub-charter the Vessel Interest to MSCL pursuant to the Initial Subcharter.

Actions on Closing Date. Subject to satisfaction of the ----------------------- applicable conditions precedent set forth in Sections 3, 4 and 5, on the Closing Date: (a) the Owner Participant shall make the Investment required to be made by it on the Closing Date; (b) the Pass Through Trustee, as a Loan Participant, shall pay to the Owner Trust the purchase price for the Secured Note required to be purchased by it on the Closing Date, the Owner Trust shall execute and deliver to the Indenture Trustee the Secured Note, and the Indenture Trustee shall authenticate and register the Secured Note and shall deliver the Secured Note to the Pass Through Trustee, as a Loan Participant; and (c) simultaneously therewith, the Owner Trust shall enter into the Charter with the Owner Trust; and (d) if the Delivery Date shall have occurred, the Charterer shall sub-charter the Vessel Interest to MSCL pursuant to the Initial SubcharterCharterer.

Actions on Closing Date. Subject to satisfaction of the ----------------------- applicable conditions precedent set forth in Sections 3, 4 3 and 54, on the Closing Date: (a) the Owner Participant shall make the Investment required to be made by it on the Closing Date; (b) the Pass Through Trustee, as a Loan Participant, shall pay to the Owner Trust Trustee the purchase price for the Secured Note Notes required to be purchased by it on the Closing Date, the Owner Trust Trustee shall execute and deliver to the Indenture Trustee the Secured Note, Notes and the Indenture Trustee shall authenticate and register the Secured Note Notes and shall deliver the Secured Note Notes to the Pass Through Trustee, as a Loan Participant; and; (c) simultaneously therewith, the Owner Trust Trustee shall enter into the Charter with purchase from Mobil Oil Corporation and Mobil Oil Corporation shall sell to the Owner Trust; and (d) if the Delivery Date shall have occurredTrustee all of Mobil Oil Corporation's right, the Charterer shall sub-charter the Vessel Interest to MSCL pursuant title and interest in and to the Initial Subcharter.Facility Assets, and, subject to the terms of Section 9.3