Common use of Discharge of Liability on Notes; Defeasance Clause in Contracts

Discharge of Liability on Notes; Defeasance. (a) When (i) the Company delivers to the Trustee all Outstanding Notes (other than Notes replaced pursuant to Section 2.07) for cancellation or (ii) all Outstanding Notes have become due and payable and the Company irrevocably deposits with the Trustee funds sufficient to pay at maturity all Outstanding Notes, including interest thereon, if any (other than Notes replaced pursuant to Section 2.07), and if in either case the Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Sections 8.01(c) and 8.06, cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers' Certificate and an Opinion of Counsel and at the cost and expense of the Company.

Appears in 2 contracts

Samples: Plans Assumption Agreement (Rev Holdings LLC), Indenture (Rev Holdings LLC)

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Discharge of Liability on Notes; Defeasance. (a) When (i) the Company delivers to the Trustee all Outstanding outstanding Notes (other than Notes replaced pursuant to Section 2.07) for cancellation cancellation, or (ii) all Outstanding outstanding Notes have become due and payable and the Company irrevocably deposits with the Trustee funds sufficient to pay at maturity all Outstanding outstanding Notes, including interest thereoninterest, if any premium and Liquidated Damages thereon (other than Notes replaced pursuant to Section 2.07), and if in either case the Company pays all other sums payable hereunder under this Indenture by the Company, then this Indenture shall, subject to Sections 8.01(c) and 8.06, cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers' Certificate and an Opinion of Counsel and at the cost and expense of the Company.

Appears in 2 contracts

Samples: Indenture (Gfsi Inc), Jackson Products Inc

Discharge of Liability on Notes; Defeasance. (a) When (i) the Company delivers to the Trustee all Outstanding outstanding Notes (other than Notes replaced pursuant to Section 2.07) for cancellation or (ii) all Outstanding outstanding Notes have become due and payable payable, and the Company irrevocably deposits with the Trustee funds money sufficient to pay at maturity all Outstanding outstanding Notes, including interest thereon, if any thereon (other than Notes replaced pursuant to Section 2.07), and if in either case the Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Sections 8.01(c) and 8.06, cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers' Certificate and an Opinion of Counsel as to the satisfaction of all conditions to such satisfaction and discharge of this Indenture and at the cost and expense of the Company.

Appears in 2 contracts

Samples: _______________________________________________________________ _______________________________________________________________ (Isp Holdings Inc), _______________________________________________________________ _______________________________________________________________ (Isp Holdings Inc)

Discharge of Liability on Notes; Defeasance. (a) When (i) the Company delivers to the Trustee all Outstanding outstanding Notes (other than Notes replaced pursuant to Section 2.072.06) for cancellation or (ii) all Outstanding outstanding Notes have become due and payable and the Company irrevocably deposits with the Trustee funds sufficient to pay at maturity or upon redemption all Outstanding outstanding Notes, including interest thereon, if any thereon (other than Notes replaced pursuant to Section 2.072.06), and if in either case the Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Sections 8.01(c) and 8.06, cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers' Certificate and an Opinion of Counsel and at the cost and expense of the Company.

Appears in 1 contract

Samples: Indenture (General Communication Inc)

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Discharge of Liability on Notes; Defeasance. (a) When ------------------------------------------ (i) the Company delivers to the Trustee all Outstanding Notes (other than Notes replaced pursuant to Section 2.07) for cancellation cancelation or (ii) all Outstanding Notes have become due and payable and the Company irrevocably deposits with the Trustee funds sufficient to pay at maturity all Outstanding Notes, including interest thereon, if any (other than Notes replaced pursuant to Section 2.07), and if in either case the Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Sections 8.01(c) and 8.06, cease to be of further effect. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers' Certificate and an Opinion of Counsel and at the cost and expense of the Company.

Appears in 1 contract

Samples: Asset Transfer Agreement (Rev Holdings Inc)

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