Deferral and Accrual of Lakes Obligations Sample Clauses

Deferral and Accrual of Lakes Obligations. Each of Lakes and each successor, assign and transferee of any portion of Lakes Obligations agrees that any Lakes Obligations (a) not permitted to be paid pursuant to the 2015 Notes Indenture or (b) the payment of which will result in or cause an Event of Default under the 2015 Notes Indenture shall be deferred and shall accrue and may be paid only at such time as such amounts would otherwise be permitted to be paid pursuant to the provisions of the 2015 Notes Indenture (and the payment of which shall not result or cause an Event of Default under the 2015 Notes Indenture), and none of Lakes nor any successor, assign or transferee of any portion of Lakes Obligations will ask, demand, sxx for, take or receive from the Borrower, by set-off or in any other manner, direct or indirect payment (whether in cash or property), any such amounts or any transfer or property in payment of or as additional security therefor (provided that Lakes and any successor, assign or transferee of any portion of Lakes Obligations may ask for or demand payments permitted to be paid pursuant to this Section 2.1, and provided further that Lakes and each successor, assign or transferee of any portion of the Lakes Obligations may make any demand, give any notice or take any other action permitted by and in accordance with the terms of the Development and Management Agreement or any other Lakes Transaction Document so long as such action is not prohibited by this Agreement and the 2015 Notes Indenture). Without limiting the generality of the foregoing, nothing in this Agreement shall limit, restrict or otherwise impair any right of Lakes or any successor, assign or transferee to terminate the Development and Management Agreement or any other Lakes Transaction Document in accordance with the terms thereof.
Sample 1
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Deferral and Accrual of Lakes Obligations. Each of the Lakes Parties agrees that any Lakes Obligations (i) not permitted to be paid pursuant to the FF&E Facility Agreement or (ii) the payment of which will result in or cause an Event of Default under the FF&E Facility Agreement shall be deferred and shall accrue and may be paid only at such time as such amounts would otherwise be permitted to be paid pursuant to the provisions of the FF&E Facility Agreement (and the payment of which shall not result or cause an Event of Default under the FF&E Facility Agreement), and none of the Lakes Parties of any portion of Lakes Obligations will ask, demand, sxx for, take or receive from the Borrower, by set-off or in any other manner, direct or indirect payment (whether in cash or property), any such amounts or any transfer or property in payment of or as security therefor (provided that any Lakes Party may ask or demand payments permitted to be paid pursuant to this Section 2.1, and provided further that each Lakes Party may make any demand, give any notice or take any other action permitted by and in accordance with the terms of the Management Agreement, the Development Agreement or any other Lakes Transaction Document so long as such action is not prohibited by this Agreement and the FF&E Facility Agreement). Without limiting the generality of the foregoing, nothing in the Agreement shall limit, restrict or otherwise impair any right of any Lakes Party to terminate the Management Agreement, the Development Agreement or any other Lakes Transaction Document in accordance with the terms thereof.
Sample 1
Deferral and Accrual of Lakes Obligations. Without limiting Section 2.3 below, Lakes agrees that any payment of Lakes Obligations (a) not permitted to be paid pursuant to the FF&E Facilities or (b) the payment of which will result in or cause an Event of Default under the FF&E Facilities shall be deferred and shall accrue and may be paid only at such time as the payment of such amounts so deferred would otherwise be permitted pursuant to the provisions of the FF&E Facilities and would not result or cause an Event of Default under the FF&E Facilities, and Lakes will not ask, demand, xxx for, take or receive from the Authority, by set-off or in any other manner, direct or indirect payment (whether in cash or property), any amounts so deferred or any transfer of property in payment of or as additional security for any amounts so deferred. This Section 2.1 shall not limit Lakes’ rights with respect to any payment of Lakes Obligations not required to be so deferred, and Lakes may take any action with respect to any such payment so long as such action is not prohibited by this Agreement and the FF&E Facilities.
Sample 1

Related to Deferral and Accrual of Lakes Obligations

  • Cessation of Accrual of Interest Except as provided in Sections 4.02(D), 4.03(E) or 5.02(D), interest will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this Section 2.18, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other property due on such Note.

  • Security Violations and Accounts Updates Grantee will adhere to the Confidentiality Article requirements and HHS Data Usage Agreement of this contract and immediately contact System Agency if a security violation is detected, or if Grantee has any reason to suspect that the security or integrity of the CMBHS data has been or may be compromised in any way.

  • Performance and Compliance with Collateral The Borrower will, at the Borrower’s expense, timely and fully perform and comply (or, by exercising its rights thereunder, cause the Seller to perform and comply pursuant to the Sale Agreement) with all provisions, covenants and other promises required to be observed by it under the Collateral, the Transaction Documents and all other agreements related to such Collateral.

  • Contractual Obligations and Similar Investments From time to time, the Fund's Investments may include Investments that are not ownership interests as may be represented by certificate (whether registered or bearer), by entry in a Securities Depository or by Book-Entry Agent, registrar or similar agent for recording ownership interests in the relevant Investment. If the Fund shall at any time acquire such Investments, including without limitation deposit obligations, loan participations, repurchase agreements and derivative arrangements, the Custodian shall (a) receive and retain, to the extent the same are provided to the Custodian, confirmations or other documents evidencing the arrangement; and (b) perform on the Fund's account in accordance with the terms of the applicable arrangement, but only to the extent directed to do so by Instruction. The Custodian shall have no responsibility for agreements running to the Fund as to which it is not a party other than to retain, to the extent the same are provided to the Custodian, documents or copies of documents evidencing the arrangement and, in accordance with Instruction, to include such arrangements in reports made to the Fund.

  • No Responsibility for Advances, Creditworthiness, Collateral, Recitals, Etc [Intentionally Omitted. See Sections 7.03 and 7.04 of the Credit Agreement for these provisions.]

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Obligations of Business Associate Upon Termination Upon termination of this Agreement for any reason, business associate shall return to covered entity or, if agreed to by covered entity, destroy all protected health information received from covered entity, or created, maintained, or received by business associate on behalf of covered entity, that the business associate still maintains in any form. Business associate shall retain no copies of the protected health information.

  • CFR Part 200 or Federal Provision - Xxxx Anti-Lobbying Amendment - Continued If you answered "No, Vendor does not certify - Lobbying to Report" to the above attribute question, you must download, read, execute, and upload the attachment entitled "Disclosure of Lobbying Activities - Standard Form - LLL", as instructed, to report the lobbying activities you performed or paid others to perform. Compliance with all applicable standards, orders, or requirements issued under section 306 of the Clean Air Act (42 U.S.C. 1857(h)), section 508 of the Clean Water Act (33 U.S.C. 1368), Executive Order 11738, and Environmental Protection Agency regulations (40 CFR part 15). (Contracts, subcontracts, and subgrants of amounts in excess of $100,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members requires the proposer certify that in performance of the contracts, subcontracts, and subgrants of amounts in excess of $250,000, the vendor will be in compliance with all applicable standards, orders, or requirements issued under section 306 of the Clean Air Act (42 U.S.C. 1857(h)), section 508 of the Clean Water Act (33 U.S.C. 1368), Executive Order 11738, and Environmental Protection Agency regulations (40 CFR part 15). Does vendor certify compliance? Yes

  • Performance and Compliance with Contracts and Credit and Collection Policy The Seller shall (and shall cause the Servicer to), at its expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and timely and fully comply in all material respects with the applicable Credit and Collection Policies with regard to each Receivable and the related Contract.

  • No Credit for Payment of Taxes or Imposition Such Pledgor shall not be entitled to any credit against the principal, premium, if any, or interest payable under the Credit Agreement, and such Pledgor shall not be entitled to any credit against any other sums which may become payable under the terms thereof or hereof, by reason of the payment of any Tax on the Pledged Collateral or any part thereof.

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