Conditions to Legal Defeasance and Covenant Defeasance Sample Clauses

Conditions to Legal Defeasance and Covenant Defeasance. The following shall be the conditions to Legal Defeasance or Covenant Defeasance:
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Conditions to Legal Defeasance and Covenant Defeasance. The following shall be the conditions to application of Section 8.3 or Section 8.4 to the then outstanding Notes:
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Conditions to Legal Defeasance and Covenant Defeasance. As of the ------------------------------------------------------ Supplement Effective Date, Section 9.4(d) of the Indenture shall be deleted in its entirety and replaced with the following:
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Conditions to Legal Defeasance and Covenant Defeasance. The following shall be the conditions precedent to application of either Section 702 or Section 703 to the Outstanding Securities of any series or Tranche:
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Conditions to Legal Defeasance and Covenant Defeasance. The following shall be the conditions precedent to application of either Section 7.02 or Section 7.03 to the Outstanding Securities of any series or Tranche:
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Conditions to Legal Defeasance and Covenant Defeasance. The following shall be the conditions to the application of either Section 401(b) or 401(c) hereof to the Outstanding Securities of a series:
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Conditions to Legal Defeasance and Covenant Defeasance. The following shall be the conditions to application of Section 8.3 or Section 8.4 to the then outstanding Notes: (i) the Company must have irrevocably deposited with the Trustee, in trust, for the benefit of the Holders of the Notes, Cash in immediately available funds sufficient (excluding interest income), in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, premium, if any, and interest on, with respect to the Notes on the Stated Maturity Date of the Notes or on the Redemption Date, as the case may be, of such principal of, premium, if any, and interest on the Notes; (ii) in the case of Legal Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel confirming that the Holders of the Notes will not recognize income, gain or loss for Federal income tax purposes as a result of such Legal Defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred, which opinion will state that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling to such effect, or (B) since the Effective Date there has been a change in the applicable Federal income tax laws or regulations to such effect; (iii) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel confirming that the Holders of the Notes will not recognize income, gain or loss for Federal income tax purposes as a result of such Covenant Defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same time as would have been the case if such Covenant Defeasance had not occurred; (iv) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of or constitute a default under any material agreement or instrument to which the Company is a party or by which it is bound; (v) the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that after the 91st day (or such other applicable date) following the deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally; (vi) the Company shall have delivered to the Trustee a CP Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders over t...
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Conditions to Legal Defeasance and Covenant Defeasance. The following shall be the conditions to the application of either Section 9.2 or 9.3 to the outstanding Securities:
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Related to Conditions to Legal Defeasance and Covenant Defeasance

  • Conditions to Legal Defeasance or Covenant Defeasance The following shall be the conditions to the application of either Section 8.02(b) or 8.02(c) hereof to the outstanding Notes:

  • Legal Defeasance and Covenant Defeasance 67 Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance..... 67 Section 8.02. Legal Defeasance and Discharge............................... 67 Section 8.03.

  • DEFEASANCE AND COVENANT DEFEASANCE SECTION 1301.

  • Conditions to Defeasance or Covenant Defeasance The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be:

  • Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance The Issuer may, at its option and at any time, elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII.

  • Option to Effect Legal Defeasance or Covenant Defeasance The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

  • SECTION 1303. Covenant Defeasance 59 Section 1304. Conditions to Defeasance or Covenant Defeasance.... 59

  • Conditions to Defeasance The Company may exercise its legal defeasance option or its covenant defeasance option only if:

  • Company’s Option to Effect Defeasance or Covenant Defeasance The Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied to any Securities or any series of Securities, as the case may be, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.

  • Option to Effect Defeasance or Covenant Defeasance The Issuer may, at the option of its Board of Directors evidenced by a Board Resolution set forth in an Officer’s Certificate, at any time, elect to have either SECTION 8.2 or 8.3 hereof applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII.

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