Common use of Defeasance upon Deposit of Moneys or U.S. Government Obligations Clause in Contracts

Defeasance upon Deposit of Moneys or U.S. Government Obligations. (a) On the first day after the applicable conditions set forth in Section 12.03 of the Base Indenture have been satisfied, the Company at any time may terminate (i) all of its obligations under the Notes and this Sixth Supplemental Indenture (“legal defeasance option”) or (ii) its obligations under Sections 2.9, 2.10, 2.11 and 2.12 of this Sixth Supplemental Indenture and, with respect to the Notes only, Section 10.2 of the Base Indenture, and the operation of Sections 2.13(a)(iii), (iv) and (v) of this Sixth Supplemental Indenture (but, in the case of Sections 2.13(a)(iv) and (v), with respect only to Significant Subsidiaries) (“covenant defeasance option”). The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option.

Appears in 1 contract

Samples: Sixth Supplemental Indenture (Southern Copper Corp/)

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Defeasance upon Deposit of Moneys or U.S. Government Obligations. (a) On the first day after the applicable conditions set forth in Section 12.03 of the Base Indenture have been satisfied, the Company at any time may terminate (i) all of its obligations under the Notes and this Sixth Fifth Supplemental Indenture (“legal defeasance option”) or (ii) its obligations under Sections 2.9, 2.10, 2.11 and 2.12 of this Sixth Fifth Supplemental Indenture and, with respect to the Notes only, Section 10.2 of the Base Indenture, and the operation of Sections 2.13(a)(iii), (iv) and (v) of this Sixth Fifth Supplemental Indenture (but, in the case of Sections 2.13(a)(iv) and (v), with respect only to Significant Subsidiaries) (“covenant defeasance option”). The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option.

Appears in 1 contract

Samples: Fifth Supplemental Indenture (Southern Copper Corp/)

Defeasance upon Deposit of Moneys or U.S. Government Obligations. (a) On the first day after the applicable conditions set forth in Section 12.03 of the Base Indenture have been satisfied, the Company at any time may terminate (i) all of its obligations under the Notes and this Sixth Fourth Supplemental Indenture (“legal defeasance option”) or (ii) its obligations under Sections 2.9, 2.10, 2.11 and 2.12 of this Sixth Fourth Supplemental Indenture and, with respect to the Notes only, Section 10.2 of the Base Indenture, and the operation of Sections 2.13(a)(iii), (iv) and (v) of this Sixth Fourth Supplemental Indenture (but, in the case of Sections 2.13(a)(iv) and (v), with respect only to Significant Subsidiaries) (“covenant defeasance option”). The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Southern Copper Corp/)

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Defeasance upon Deposit of Moneys or U.S. Government Obligations. (a) On the first day after the applicable conditions set forth in Section 12.03 of the Base Indenture have been satisfied, the Company at any time may terminate (i) all of its obligations under the Notes and this Sixth Third Supplemental Indenture (“legal defeasance option”) or (ii) its obligations under Sections 2.9, 2.10, 2.11 and 2.12 of this Sixth Third Supplemental Indenture and, with respect to the Notes only, Section 10.2 of the Base Indenture, and the operation of Sections 2.13(a)(iii), (iv) and (v) of this Sixth Third Supplemental Indenture (but, in the case of Sections 2.13(a)(iv) and (v), with respect only to Significant Subsidiaries) (“covenant defeasance option”). The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option.

Appears in 1 contract

Samples: Indenture (Southern Copper Corp/)

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