Deposit of Redemption Moneys. Prior to the opening of business on any Redemption Date, the Shipowner shall cause to be deposited with the Indenture Trustee or with any Paying Agent an amount sufficient for such redemption with irrevocable directions to it to so apply the same.
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Samples: Trust Indenture (American Classic Voyages Co), Trust Indenture (American Classic Voyages Co), Trust Indenture (American Classic Voyages Co)
Deposit of Redemption Moneys. Prior to the opening of business on any Redemption Date, the Shipowner shall cause to be deposited with the Indenture Trustee or with any Paying Agent an amount sufficient for such redemption with irrevocable directions to it to so apply the same. Failure to so deposit the amounts with the Indenture Trustee or the Paying Agent shall render any notice to redeem of no effect.
Appears in 2 contracts
Samples: Trust Indenture (Cal Dive International Inc), Trust Indenture (Ensco International Inc)
Deposit of Redemption Moneys. Prior to the opening of business on any Redemption Date, the Shipowner shall cause to be deposited with the Indenture Trustee or with any Paying Agent an amount sufficient for such redemption with irrevocable directions to it to so apply the same. Failure to so deposit said amount with the Indenture Trustee or the Paying Agent shall render any notice to redeem of no effect.
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