Application Generally Sample Clauses

Application Generally. To the extent required to be paid by an Issuer with respect to a Property, Note Trustee will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges (excluding any Ground Rent) and Insurance Premiums required to be paid by Issuers or Operating Lessees hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Issuers shall not be in default hereunder if Note Trustee shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Note Trustee shall have not so applied such balance at the request of Issuers or Operating Lessees) or (y) to reimburse Issuers or Operating Lessees for such amounts upon presentation of evidence of payment and an Officer's Certificate in form and substance satisfactory to Note Trustee, subject, however, to Issuers' and Operating Lessees' right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Note Trustee may do so according to any xxxx, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless given written notice by Issuers or Operating Lessees of such inaccuracy, invalidity or other contest, in each case in accordance with Section 5.1(b)(ii) hereof. If the amount in the Tax and Insurance Escrow Account shall exceed the amounts due for Taxes and Other Charges and Insurance Premiums, Note Trustee shall, at its option, return any excess to Issuers and Operating Lessees or credit such excess against future payments to be made to the Tax and Insurance Escrow Account. Provided no Event of Default has occurred and is continuing, Issuers and Operating Lessees shall have the right to have Note Trustee apply amounts deposited in the Tax and Insurance Escrow Account on account of Taxes and Other Charges toward the payment of such Taxes and Other Charges prior to their delinquent dates for the purpose of achieving a discount on such Taxes and Other Charges. If at any time Note Trustee determines that the amount in the Tax and Insurance Escrow Account is not or will not be suffic...
Sample 1See All (7)
AutoNDA by SimpleDocs
Application Generally. All amounts in the Principal Fund shall be used and withdrawn by the Trustee solely to redeem the Bonds pursuant to Section 4.01F, or pay the Bonds at maturity, as provided herein, or to reimburse the Credit Facility Providers (if any) with respect to drawings under the Credit Facility for such purposes. So long as a Credit Facility for the Bonds of any subseries is in effect and has been drawn upon to provide sufficient funds to pay a principal payment due on such Bonds (if Eligible Bonds or Liquidity Facility Bonds not owned by or pledged to the Credit Facility Provider obligated on such Credit Facility) when due as required herein, the Trustee shall (1) apply the amounts so drawn (rather than money in the Principal Fund) to pay the principal or redemption price of such Bonds and (2) use moneys in the Principal Fund deposited by the Borrower to reimburse such Credit Facility Provider for such drawing in such manner as to provide for receipt by such Credit Facility Provider on the same Business Day as the draw is funded.
Sample 1Sample 2Sample 3
Application Generally. The Lender may apply any amount prepaid under the Revolving Facility to pay or repay, as the case may be, at its discretion: (i) any fees, expenses or indemnities then owing to the Lender under the Revolving Facility, (ii) any accrued and unpaid interest owed to the Lender under the Revolving Facility, and (iii) the principal amount of any Borrowings outstanding under the Revolving Facility.
Sample 1Sample 2
Application Generally. The preferential right to purchase and the procedures for implementing it set forth in Section 17.03A shall apply to all sales or other dispositions of all or any portion of a Party's interest in all or any portion of this Agreement, the Property, and/or the Joint Assets, regardless of whether other interests or assets of the offeree Party also are being sold or otherwise subjected to disposition. If the offeree Party is disposing of all or any portion of its interest in all or any portion of this Agreement, the Property, and/or the Joint Assets, together with other interests or assets held by the offeree Party, in its notice of offer to the other Parties, the offeree Party shall state the offered consideration for the interest in this Agreement, the Property, and/or the Joint Assets, as it is set forth in the offer, including offeree's determination of a reasonable cash value for any non-cash part of the consideration, and if it is not set forth in the offer separately from the consideration offered for the other interests or assets of the offeree Party that are the subject of the offer, the offer shall state the reasonable cash value of the offered price or consideration relating to the interest in this Agreement, the Property, and/or the Joint Assets. If the offeree and the other Parties cannot agree as to the reasonable cash value of the offered price or consideration relating to the interest in this Agreement, the Property, and/or the Joint Assets, such reasonable cash value and the rights of the Parties thereunder shall be established as between the offeree and the other Parties following the same procedures set out in this Section 17.03A for a determination of the reasonable cash value of the non-cash part of the consideration therein involved, however, the price so stated for the interest in this Agreement, the Property, and/or the Joint Assets, shall not exceed the fair market value of the same. The other Parties may elect, in the manner provided above in this Section 17.03, to accept the offer as to only the interest in this Agreement, the Property, and/or the Joint Assets, but shall have no right as to the other interests and assets described in the notice.
Sample 1Sample 2
Application Generally. All mandatory prepayments shall (i) to the extent practicable, be applied to Index Rate Loans prior to being applied to LIBOR Loans or Euribor Loans and (ii) to the extent no Default or Event of Default has occurred and is continuing and to the extent that any such prepayment is otherwise to be applied to a LIBOR Loan or a Eurib o Index Rate Loans prior to being applied to LIBOR Loans or Euribor Loans and (ii) to the extent no Default or Event of Default has occurred and is continuing and to the extent that any such prepayment is otherwise to be applied to a LIBOR Loan or a Euribo or Loan prior to the end of the applicable Interest Period with respect thereto (and such prepayment would require payment of breakage costs in accordance with r Loan prior to the end of the applicable Interest Period with respect thereto (and such prepayment would require payment of breakage costs in accordance with Section 1.13 (b) ), at the request of the applicable Borrower Representative, be held by the Administrative Agent or Fronting Lender, as applicable, in an interest bearing account at a bank or financial institution acceptable to Administrative Agent pursuant to documentation satisfactory to the Administrative Agent (the " on satisfactory to the Administrative Agent (the " Prepayment Account ") until the end of the applicable Interest Period and, on the last day of the applicable Interest Period, be applied to prepay Loans and cash-collateralize Letters of Credit as otherwise ) until the end of the applicable Interest Period and, on the last day of the applicable Interest Period, be applied to prepay Loans and cash-collateralize Letters of Credit as otherwise required hereunder. required hereunder. Any interest earned on deposits in the Prepayment Account shall be for the account of Administrative Agent or Fronting Lender, as applicable. Subject to Section 1.18 , after the occurrence of and during the continuance of an Event of Default, Administrative Agent may apply funds then held in the Prepayment Account to the payment, in such order as Administrative Agent may elect, of any Obligations then due and payable. Neither any of the Borrowers nor any Person claiming on behalf of or through any Borrower shall have any right to withdraw any of the funds held in the Prepayment Account, except as provided above in this Section 1.3 (f) .
Sample 1
Application Generally. All mandatory prepayments shall (i) to the extent practicable, be applied to Index Rate Loans prior to being applied to LIBOR Loans or Euribor Loans and (ii) to the extent no Default or Event of Default has occurred and is continuing and to the extent that any such prepayment is otherwise to be applied to a LIBOR Loan or a Euribor Loan prior to the end of the applicable Interest Period with respect thereto (and such prepayment would require payment of breakage costs in accordance with Section 1.13(b)), at the request of the applicable Borrower, be held by the Agent (at the Agent's option, in an interest bearing account pursuant to documentation satisfactory to the Agent) until the end of the applicable Interest Period and, on the last day of the applicable Interest Period, be applied to prepay Loans and cash collateralize Letters of Credit as otherwise required hereunder.
Sample 1
Application Generally. 138 Section 9.5 FF&E Reserve Account...................................................................... 139 Section 9.6 Deferred Maintenance and Environmental Remediation Reserve Account........................................................................... 143 Section 9.7
Sample 1
AutoNDA by SimpleDocs
Application Generally. To the extent required to be paid by Borrower with respect to the Property, Lender will apply amounts in the Tax and Insurance Escrow
Sample 1
Application Generally. Lender will apply amounts in the Tax and Insurance Escrow Account either: (x) to pay Taxes and Other Charges and Insurance Premiums required to be made by Borrower hereunder (and so long as the Tax and Insurance Escrow Account shall have a balance at least equal to the then-payable Taxes, Other Charges and Insurance Premiums, Borrower shall not be in default hereunder if Lender shall have not so applied such balance to the payment of such Taxes, Other Charges and Insurance Premiums, unless Lender shall have not so applied such balance at the request of Borrower) or (y) to reimburse Borrower for such amounts upon presentation of evidence of payment and an Officer’s Certificate in form and substance reasonably satisfactory to Lender, subject, however in the case of (x) or (y), to Borrower’s right to contest Taxes and Other Charges in accordance with the terms hereof. In making any payment from or to the Tax and Insurance Escrow Account, Lender may do so according to any xxxx, statement or estimate procured from the appropriate public office (with respect to Taxes and Other Charges) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof unless Lender was given written notice by Borrower of such inaccuracy, invalidity or other contest, in each
Sample 1

Related to Application Generally

  • Form Generally The Securities shall be in substantially the form set forth in this Article, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange, the Internal Revenue Code of 1986, as amended, and regulations thereunder (the "Code"), or as may, consistent herewith, be determined by the officers executing such Securities, as evidenced by their execution thereof. All Securities shall be in fully registered form. The Trustee's certificates of authentication shall be in substantially the form set forth in Section 2.3. Conversion notices shall be in substantially the form set forth in Section 2.4. Repurchase notices shall be substantially in the form set forth in Section 2.2. The Securities shall be printed, lithographed, typewritten or engraved or produced by any combination of these methods or may be produced in any other manner permitted by the rules of any automated quotation system or securities exchange (including on steel engraved borders if so required by any securities exchange upon which the Securities may be listed) on which the Securities may be quoted or listed, as the case may be, all as determined by the officers executing such Securities, as evidenced by their execution thereof. Upon their original issuance, Securities issued as contemplated by the Purchase Agreement to Qualified Institutional Buyers in reliance on Rule 144A shall be issued in the form of one or more Global Securities in definitive, fully registered form without interest coupons and bearing the Restricted Securities Legend. Such Global Security shall be registered in the name of DTC, as Depositary, or its nominee and deposited with the Trustee, as custodian for DTC, for credit by DTC to the respective accounts of beneficial owners of the Securities represented thereby (or such other accounts as they may direct). Such Global Security, together with its Successor Securities which are Global Securities, are collectively herein called the "Restricted Global Security".

  • Termination Generally If the Executive’s employment with the Company is terminated for any reason, the Company shall pay or provide to the Executive (or to his authorized representative or estate) (i) any Base Salary earned through the Date of Termination, unpaid expense reimbursements (subject to, and in accordance with, Section 2(c) of this Agreement) and unused vacation that accrued through the Date of Termination on or before the time required by law but in no event more than 30 days after the Executive’s Date of Termination; and (ii) any vested benefits the Executive may have under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Benefit”).

  • Property Generally Each of the Borrower and its Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material to its business, subject only to Liens permitted by Section 7.02 and except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes.

  • General Application The rules set forth below in this Article IV shall apply for the purposes of determining each Member’s general allocable share of the items of income, gain, loss or expense of the Company comprising Net Income or Net Loss of the Company for each Fiscal Year, determining special allocations of other items of income, gain, loss and expense, and adjusting the balance of each Member’s Capital Account to reflect the aforementioned general and special allocations. For each Fiscal Year, the special allocations in Section 4.4 shall be made immediately prior to the general allocations of Section 4.3.

  • Interest Generally Interest on the outstanding principal balance of the Loan shall accrue from the Closing Date to but excluding the Maturity Date at the Interest Rate.

  • Application of Collections On each Payment Date, all collections for the related Collection Period shall be applied by the Servicer as follows:

  • Set-Off Generally Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent, each of the Lenders and each of their Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by the Administrative Agent, any Lender and any of their Affiliates to or for the credit or the account of any Obligor against any and all of the Obligations, whether or not such Person shall have made any demand and although such obligations may be unmatured. Any Person exercising rights of set off hereunder agrees promptly to notify the Borrower after any such set-off and application; provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of the Administrative Agent, the Lenders and each of their Affiliates under this Section 4.03 are in addition to other rights and remedies (including other rights of set-off) that such Persons may have.

  • Transfer Generally (a) The term “

  • Conversion Generally Each share of Company Common Stock issued and outstanding immediately prior to the Effective Time (other than (i) any shares of Company Common Stock to be cancelled pursuant to Section 4.1(b), and (ii) Dissenting Shares) shall be converted, subject to Section 4.1(d), into the right to receive an amount in cash equal to the Offer Price, payable to the holder thereof, without interest (the “Merger Consideration”). At the Effective Time, all such shares of Company Common Stock shall cease to be outstanding and shall automatically be cancelled and retired and shall cease to exist, and each Certificate which immediately prior to the Effective Time represented any such shares shall thereafter represent only the right to receive the Merger Consideration therefor.

  • Distributions Generally (a) Subject to Section 7.01 respecting the final distribution on the Certificates, on each Distribution Date the Trustee or the Paying Agent shall make distributions in accordance with this Article V. Such distributions shall be made by check mailed to each Certificateholder's address as it appears on the Certificate Register of the Certificate Registrar or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000, or in the case of a Class of Interest-Only Certificates or Residual Certificate, a Percentage Interest of not less than 100%, by wire transfer in immediately available funds to an account specified in the request and at the expense of such Certificateholder; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Certificate Registrar's Corporate Trust Office; provided, further, that the foregoing provisions shall not apply to any Class of Certificates as long as such Certificate remains a Book-Entry Certificate in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants. Wire transfers will be made at the expense of the Holder requesting such wire transfer by deducting a wire transfer fee from the related distribution. Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of each REMIC and the payment in full of all other amounts due with respect to the Residual Certificates and at such time such final payment in retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Certificate Registrar's Corporate Trust Office. If any payment required to be made on the Certificates is to be made on a day that is not a Business Day, then such payment will be made on the next succeeding Business Day.

Time is Money Join Law Insider Premium to draft better contracts faster.