Assumption of Notes. Lightco and Chemco, jointly and severally with the Company, hereby fully and unconditionally assumes the due and punctual payment of the principal of and interest on the Securities.
Assumption of Notes. Notwithstanding the provisions of Sections 19(a) ------------------- and (b) and subject to compliance with Section 2.13 of the Indenture, if in connection with a purchase by Lessee of the Transponders pursuant to Section 19(a)(ii) or Section 19(a)(iii) as the case may be, Lessee shall assume the Notes pursuant to Section 5.05(a) or Article XI of the Participation Agreement, the obligation of Lessee to pay the purchase price pursuant to Section 19(a)(ii) or 19(a)(iii), as the case may be, shall be satisfied by such assumption of the Notes to the extent of the principal amount of the Notes so assumed (after, in the event that the date of purchase is a Rent Payment Date on which a Scheduled Rent payment designated as an "arrears rent" on Schedule A hereto as adjusted pursuant to Section 4 is due, payment of the sum of any Scheduled Rent designated as an "arrears rent" on Schedule A as adjusted pursuant to Section 4 on the Rent Payment Date on which such purchase is consummated with respect to such Transponders and the Rent Differential Amount, if any).
Assumption of Notes. Such documents and instruments as are reasonably required by Lender in connection with the assumption by Buyer of the Nationwide Note and the Wausau Note.
Assumption of Notes. Notwithstanding the provisions of Sections 6.1 and 6.2 and subject to compliance with Section 3.04 of the Indenture, if in connection with a purchase by the Lessee of all of Lessor’s right, title and interest in and to the Undivided Interest pursuant to Section 6.1(b), the Lessee shall assume the Notes pursuant to Section 11.6 of the Participation Agreement, the obligation of the Lessee to pay the Purchase Price pursuant to Section 6.1(b), shall be satisfied by such assumption of the Notes to the extent of the principal amount of and accrued but unpaid interest (other than overdue interest), if any, on the Notes so assumed and payment of the remaining portion of the Purchase Price in cash.
Assumption of Notes. Notwithstanding the provisions of Sections ------------------- 19(a) and (b) and subject to compliance with Section 2.13 of the Indenture, in connection with a purchase by Lessee of the Transponders pursuant to any of Sections 19(a)(ii) through 19(a)(vi), as the case may be, at Lessee's option, Lessee may assume the Notes (or the portion thereof associated with such purchased Transponder, as applicable), pursuant to Sections 5.05 and 11.04 of the Participation Agreement and the obligation of Lessee to pay the purchase price pursuant to the applicable clause of Section 19(a) shall be satisfied by such assumption of the Notes to the extent of the principal amount of the Notes so assumed (after, in the event that the date of purchase is a Rent Payment Date on which a Scheduled Rent payment designated as an "arrears rent" on Schedule A hereto, as adjusted pursuant to Section 12.05 or 12.06, subject to Sections 12.07 and 12.08, of the Participation Agreement, as applicable, is due, payment of the sum of any Scheduled Rent designated as an "arrears rent" on Schedule A, as adjusted pursuant to Section 12.06 of the Participation Agreement, on the Rent Payment Date on which such purchase is consummated with respect to the applicable Transponder(s) and the Rent Differential Amount, if any). Once Lessee has elected to exercise its option to assume the Notes by giving notice of such election in 36 its notice pursuant to Section 19(b) hereof, such Notes shall be mandatorily assumed by Lessee pursuant to the Indenture.
Assumption of Notes. Each of the Owner Participant, the Lessor, each Loan Participant and the Indenture Trustee agrees that if, pursuant to Section 6.1(b) or 7A of the Lease, the Lessee elects to purchase the Undivided Interest, the Lessee may, so long as no Lease Default or Lease Event of Default shall have occurred and be continuing, elect to assume the obligations of the Lessor under the Notes and under the Indenture by giving notice of such election at least 90 days prior to the applicable purchase date in accordance with Section 3.04 of the Indenture. In addition, if the Lessee elects to so assume, the Lessee shall provide to the Indenture Trustee, each Loan Participant, the Lessor and the Owner Participant the Officer’s Certificate required under Section 3.04(a) and (b) of the Indenture and shall otherwise comply with the conditions set forth in Section 3.04 of the Indenture applicable to it. In the event that the Relevant Amendment becomes effective, this Agreement and the other Operative Documents shall be deemed amended as provided in the Relevant Amendment and upon such assumption the Lessor shall be released from all of its obligations under the Operative Documents except as may be expressly provided in the Relevant Amendment and the Lessor and the Owner Participant shall be satisfied as to form and substance with such release.
Assumption of Notes. On the Closing Date, eTwine Holdings agrees to assume the outstanding note payable owed by eTwine to Dxxxxxx Xxxxxx in the amount of $92,648 as set forth in schedule 3.3.
Assumption of Notes. Buyer will execute an Assumption Agreement ------------------- substantially in the form attached as Exhibit 6.2(i), pursuant to which it will assume the obligations of the Company under those certain promissory notes dated as of January 25, 1999, as amended by letter agreement dated September __, 1999, payable to each of Xxxxxx 0, X.X., Xxxx Xxxx Investment Limited and CCG Canada Inc.
Assumption of Notes. Notwithstanding the provisions of Sections ------------------- 19(a) and (b) and subject to compliance with Section 2.20 of the Loan Agreement, in connection with a purchase by Lessee of the Transponders pursuant to any of Sections 19(a)(ii) through 19(a)(iv) or a transfer pursuant to Section 8(a)(i), as the case may be, at Lessee's option, the Applicable Principal Amount of the Notes may be Assumed by Lessee pursuant to Sections 5.05(a) and 11.03 of the Participation Agreement. Once Lessee has elected to exercise its option to Assume the Notes by giving notice of such election in its notice given pursuant to Section 19(b) hereof, such Notes shall be mandatorily Assumed by Lessee in accordance with Section 2.20
Assumption of Notes. In order to (a) elect to exercise its right to assume or exchange the Notes pursuant to Section 19(c) of the Lease or (b) effect, subject to Section 10.06, the assumption or exchange of Notes required by Section 10.02(d) or Section 11.07(h), Lessee shall irrevocably notify Owner Trustee, Owner Participant and Indenture Trustee in writing thereof at the same time Lessee provides notice to Lessor under the Lease. Each party hereto which is not a party to the Lease hereby consents to Lessee’s right to assume or exchange the Notes pursuant to such Sections, subject to the terms and conditions therein, and, subject to Section 10.06, agrees to perform the actions, if any, contemplated by that Section to be performed by it (in each case with the expenses, fees and costs of such actions to be paid by Lessee).
