Assumption of Indenture. Prior to Closing, Malvern and First Bank shall take all actions necessary for First Bank to enter into a supplemental indenture with the trustee under the Indenture, dated as of February 7, 2017 (the “Indenture”), relating to Xxxxxxx’s outstanding 6.125% Fixed-to-Floating Rate Subordinated Notes due 2027 (the “Debt Securities”) to evidence the succession of First Bank as of the Effective Time. Pursuant to such supplemental indenture, First Bank will agree to assume the covenants, agreements and obligations of Malvern under the Indenture, including the obligation to make all payments when due in respect of the Debt Securities.
Assumption of Indenture. In accordance with the terms of Sections 8.01 and 10.01(2) of the Indenture, each of (x) Transition4 and LP#4, (y) LP#1 and LP#2, and then (z) K-Sea LP and K-Sea OLP, jointly and severally, has successively assumed and does hereby expressly assume, and hereby does expressly agree to perform, all of the respective former, present and future obligations, duties, right, title and interest of K-Sea LLC and EW Holding, in and to the Indenture, as amended and supplemented hereby, and the Obligations, together with all documents and instruments evidencing any such obligations, duties, right, title and interest thereto. Pursuant to Section 8.01(a)(1) of the Indenture, each of K-Sea LP and K-Sea OLP has, as the final step in these successive mergers, assumed and does expressly assume, and agrees to perform, all of the obligations of K-Sea LLC and EW Holding with respect to, the payment of the principal and interest (and premium, if any) of the Outstanding Obligations, relating to the Vessels. Each of K-Sea LP and K-Sea OLP jointly and severally represents and warrants to the Secretary that each of Transition4, LP#4, LP#1 and LP#2 has successively assumed the obligations of K-Sea LLC and EW Holding, respectively, in and to the Indenture and the Obligations.
Assumption of Indenture. Prior to Closing, the Company and Buyer shall take all actions necessary for Buyer to enter into a supplemental indenture with the trustee under the Indenture, dated as of June 15, 2006 (the “Indenture”), relating to the Company’s outstanding floating-rate junior subordinated debt securities due June 15, 2036 (the “Debt Securities”) to evidence the succession of Buyer as of the Effective Time. Pursuant to such supplemental indenture, Buyer will agree to assume the covenants, agreements and obligations of the Company under the Indenture, including the obligation to make all payments when due in respect of the Debt Securities.
Assumption of Indenture. UBC shall have assumed by supplemental indenture the repayment obligation with respect to the outstanding 10 1/4% Senior Notes due November 1, 2003, and, if necessary, the other obligations contained in the Indenture, as amended.
Assumption of Indenture. The Surviving Corporation expressly assumes the due and punctual payment of the principal of (and premium, if any) and interest on the Securities according to their tenor and the due and punctual performance and observance of all the covenants and conditions of the Indenture which were to be kept and performed by the Merging Corporation, and shall be deemed a party to such Indenture as if an original signatory thereto.
Assumption of Indenture
