Common use of Certain Payments May Be Paid Prior to Dissolution Clause in Contracts

Certain Payments May Be Paid Prior to Dissolution. All money and United States government obligations properly deposited in trust with the Trustee pursuant to and in accordance with Article Eight shall be for the sole benefit of the Holders and shall not be subject to this Article Eleven. Nothing contained in this Article Eleven or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Section 11.02, from making payments of principal of and interest on the Securities, or from depositing with the Trustee any moneys for such payments or from effecting a termination of the Company's obligations under the Securities and this Indenture as provided in Article Eight, or (ii) the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of on and interest on the Securities to the holders entitled thereto unless at least two Business Days prior to the date upon which such payment becomes due and payable, the Trustee shall have received the written notice provided for in Section 11.02(b) or in Section 11.06. The Company shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the Company.

Appears in 2 contracts

Samples: Indenture (Standard Pacific Corp /De/), Standard Pacific Corp /De/

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Certain Payments May Be Paid Prior to Dissolution. All money and United States U.S. government obligations properly deposited in trust with the Trustee pursuant to and in accordance with Article Eight shall be for the sole benefit of the Holders and shall not be subject to this Article ElevenTwelve. Nothing contained in this Article Eleven Twelve or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Section 11.0212.02, from making payments of principal of and interest on the Securities, or from depositing with the Trustee any moneys for such payments or from effecting a termination of the Company's and the Guarantors' obligations under the Securities and this Indenture as provided in Article Eight, or (ii) the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of on and interest on the Securities to the holders Holders entitled thereto unless at least two Business Days prior to the date upon which such payment becomes due and payable, the Trustee shall have received the written notice provided for in Section 11.02(b12.02(b) or in Section 11.0612.06. The Company shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the Company.. ARTICLE THIRTEEN

Appears in 1 contract

Samples: Indenture (Collins & Aikman Products Co)

Certain Payments May Be Paid Prior to Dissolution. All money and United States government obligations Government Obligations properly deposited in trust with the Trustee pursuant to and in accordance with Article Eight shall be for the sole benefit of the Holders and shall not be subject to this Article Eleven10. Nothing contained in this Article Eleven 10 or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Section 11.0210.02, from making payments of principal of and interest on the Securities, or from depositing with the Trustee any moneys for such payments or from effecting a termination of the Company's and the Guarantors' obligations under the Securities and this Indenture as provided in Article Eight8, or (ii) the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of on and interest on the Securities to the holders entitled thereto unless at least two Business Days business days prior to the date upon which such payment becomes due and payable, the Trustee shall have received the written notice provided for in Section 11.02(b10.02(b) or in Section 11.0610.06. The Company shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the Company.

Appears in 1 contract

Samples: Vail Resorts Inc

Certain Payments May Be Paid Prior to Dissolution. All money and United States U.S. government obligations properly deposited in trust with the Trustee pursuant to and in accordance with Article Eight shall be for the sole benefit of the Holders and shall not be subject to this Article ElevenTwelve. Nothing contained in this Article Eleven Twelve or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Section 11.0212.02, from making payments of principal of and interest on the Securities, or from depositing with the Trustee any moneys for such payments or from effecting a termination of the Company's obligations under the Securities and this Indenture as provided in Article Eight, or (ii) the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of on and interest on the Securities to the holders Holders entitled thereto unless at least two Business Days prior to the date upon which such payment becomes due and payable, the Trustee shall have received the written notice provided for in Section 11.02(b12.02(b) or in Section 11.0612.06. The Company shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the Company.. SIGNATURES

Appears in 1 contract

Samples: Indenture (Collins & Aikman Products Co)

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Certain Payments May Be Paid Prior to Dissolution. All money and United States government obligations properly deposited in trust with the Trustee pursuant to and in accordance with Article Eight shall be for the sole benefit of the Holders and shall not be subject to this Article Eleven10. Nothing contained in this Article Eleven 10 or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Section 11.0210.02, from making payments of principal of and interest on the Securities, or from depositing with the Trustee any moneys for such payments or from effecting a termination of the Company's and the Guarantors' obligations under the Securities and this Indenture as provided in Article Eight8, or (ii) the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of on and interest on the Securities to the holders entitled thereto unless at least two Business Days prior to the date upon which such payment becomes due and payable, the Trustee shall have received the written notice provided for in Section 11.02(b10.02(b) or in Section 11.0610.06. The Company shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the Company.. ARTICLE ELEVEN

Appears in 1 contract

Samples: Covenants (General Cable Corp /De/)

Certain Payments May Be Paid Prior to Dissolution. All money and United States government obligations properly deposited in trust with the Trustee pursuant to and in accordance with Article Eight shall be for the sole benefit of the Holders and shall not be subject to this Article ElevenTwelve. Nothing contained in this Article Eleven Twelve or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Section 11.0212.02, from making payments of principal of and interest on the Securities, or from depositing with the Trustee T rustee any moneys for such payments or from effecting a termination of the Company's and the Guarantors' obligations under the Securities and this Indenture as provided in Article Eight, or (ii) the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of on and interest on the Securities to the holders entitled thereto unless at least two Business Days prior to the date upon which such payment becomes due and payable, the Trustee shall have received the written notice provided for in Section 11.02(b12.02(b) or in Section 11.0612.06. The Company shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the Company.. ARTICLE THIRTEEN

Appears in 1 contract

Samples: Collins & Aikman Products Co

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