Defeasance; Discharge Sample Clauses
The Defeasance; Discharge clause outlines the conditions under which a party’s obligations under an agreement are considered fully satisfied and legally terminated. Typically, this clause specifies that once all payments or performance requirements are met—such as repayment of a loan or fulfillment of contractual duties—the agreement is rendered void and the parties are released from further liability. For example, in a loan agreement, this clause would state that upon full repayment, the lender’s claim to collateral is extinguished. Its core practical function is to provide certainty and closure by clearly defining when contractual responsibilities end, thereby preventing future disputes over lingering obligations.
Defeasance; Discharge. The provisions of Sections 4.3, 4.4, 4.5 and 4.6 of the Indenture will apply to the Floating Rate Notes.
Defeasance; Discharge. The provisions of Sections 4.3, 4.4, 4.5 and 4.6 of the Indenture will apply to the 2.150% Notes.
Defeasance; Discharge. The provisions of Sections 4.3, 4.4, 4.5 and 4.6 of the Indenture will apply to the 2026 Fixed Rate Notes.
Defeasance; Discharge. The provisions of Sections 4.3, 4.4, 4.5 and 4.6 of the Indenture will apply to the 2016 Notes.
Defeasance; Discharge. Subject to certain conditions set forth in the Indenture, the Company at any time may terminate some or all of its obligations under the Securities and the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations for the payment of prin- cipal of, premium, if any, and interest on the Securities to redemption or maturity, as the case may be.
Defeasance; Discharge. As provided in Article Thirteen of the Indenture, the Corporation may defease and be discharged from any and all of its obligations, covenants and agreements with respect to the Notes and the Indenture or be released from its obligations with respect to the covenants contained in Section 1004 of the Indenture.
Defeasance; Discharge. The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note or certain restrictive covenants and certain Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. The Indenture is subject to satisfaction and discharge in accordance with Article Four of the Indenture “Satisfaction and Discharge.”
Defeasance; Discharge. The provisions of Section 4.3 and Section 10.11 of the Indenture will apply to the Notes of each series.