Common use of Distribution of Moneys Clause in Contracts

Distribution of Moneys. Payments to Holders of Notes pursuant to Section 6.7.2 shall be made as follows: 6.8.1. at least 21 days’ notice of every such payment shall be given in the manner provided in Article 10 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. payment in respect of any Notes shall be made upon presentation thereof at any one of the places specified in such notice and any such Notes thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes after giving credit for the amount of the payment specified in such notice unless the Notes in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. the Trustee shall not be required to make any partial or interim payment to Holders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1, exceed 5% of the aggregate principal amount of the outstanding Notes, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders of Trust Notes pursuant to Section section 6.7.2 shall be made as follows: 6.8.1. 6.8.1 at least 21 days’ notice of every such payment shall be given in the manner provided in Article 10 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. 6.8.2 payment in respect of any Trust Notes shall be made upon presentation thereof at any one of the places specified in such notice and any such Trust Notes thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. 6.8.3 from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Trust Notes after giving credit for the amount of the payment specified in such notice unless the Trust Notes in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. 6.8.4 the Trustee shall not be required to make any partial or interim payment to Holders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section section 6.7.1, exceed 5% of the aggregate principal amount of the outstanding Trust Notes, but it may retain the moneys so received by it and deal with the same as provided in Section section 11.9 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders of TCPL Sub Notes pursuant to Section section 6.7.2 shall be made as follows: 6.8.1. 6.8.1 at least 21 days’ notice of every such payment shall be given in the manner provided in Article 10 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. 6.8.2 payment in respect of any TCPL Sub Notes shall be made upon presentation thereof at any one of the places specified in such notice and any such TCPL Sub Notes thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. 6.8.3 from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the TCPL Sub Notes after giving credit for the amount of the payment specified in such notice unless the TCPL Sub Notes in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. 6.8.4 the Trustee shall not be required to make any partial or interim payment to Holders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section section 6.7.1, exceed 5% of the aggregate principal amount of the outstanding TCPL Sub Notes, but it may retain the moneys so received by it and deal with the same as provided in Section section 11.9 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders of Notes pursuant to Section 6.7.2 clause 6.7(1)(b) shall be made as follows: 6.8.1. (a) at least 21 days’ ' written notice of every such payment shall be given in the manner provided in Article section 10 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. (b) payment in respect of any Notes Note shall be made upon presentation thereof at any one of the places specified in such written notice and any such Notes Note thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. (c) from and after the date of payment specified in the written notice, interest shall accrue only on the amount owing on the Notes each Note after giving credit for the amount of the payment specified in such written notice unless the Notes Note in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not mademade through the fault of the Corporation; and 6.8.4. (d) the Trustee shall not be required to make any partial or interim payment to Holders Noteholders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1clause 6.7 (1) (a), exceed 5% five percent of the aggregate principal amount of the outstanding Notes, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 subsection 11.8 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders of Notes Debentures pursuant to Section 6.7.2 Subsection 5.7.2 shall be made as follows: 6.8.1. 5.8.1 at least 21 10 days’ ' notice of every such payment shall be given in the manner provided in Article 10 9 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. 5.8.2 payment in respect of any Notes Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Notes Debenture thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. 5.8.3 from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes each Debenture after giving credit for the amount of the payment specified in such notice unless the Notes Debenture in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. 5.8.4 the Trustee shall not be required to make any partial or interim payment to Holders Debentureholders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1Subsection 5.7.1, exceed 5% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 10.14 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, control shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders of Notes Debentureholders pursuant to Section 6.7.2 subsection 7.7(a)(ii) shall be made as follows: 6.8.1. (a) at least 21 15 days’ ' notice of every such payment shall be given in the manner provided in Article 10 11 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal amount and interest; 6.8.2. (b) payment in respect of any Notes Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Notes Debenture thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes each Debenture after giving credit for the amount of the payment specified in such notice unless the Notes Debenture in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. (d) the Trustee shall not be required to make any partial or interim payment to Holders Debentureholders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1, subsection 7.7(a)(i) exceed 5% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 section 12.10 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth. For certainty, the foregoing shall, however, not apply to a final payment or distribution hereunder.

Distribution of Moneys. Payments to Holders of Notes Debentures pursuant to Section 6.7.2 section 9.7 shall be made as follows: 6.8.1. (a) at least 21 15 days’ notice of every such payment shall be given in the manner provided in Article 10 13 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. (b) payment in respect of any Notes Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Notes Debenture thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Debenture Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes each Debenture after giving credit for the amount of the payment specified in such notice unless the Notes Debenture in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not mademade through the fault of the Company; and 6.8.4. (d) the Debenture Trustee shall not be required to make any partial or interim payment to Holders Debentureholders unless the moneys in its hands, after reserving therefrom such amount as the Debenture Trustee may think necessary to provide for the payments mentioned in Section 6.7.1section 9.7, exceed 52% of the aggregate principal amount of the outstanding NotesDebentures, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 section 14.9 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders of Notes Debentures pursuant to Section 6.7.2 8.7 shall be made as follows: 6.8.1. (a) at least 21 days’ notice of every such payment shall be given in the manner provided in Article 10 11 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. (b) payment in respect of any Notes Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Notes Debenture thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes each Debenture after giving credit for the amount of the payment specified in such notice unless the Notes Debenture in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. (d) the Trustee shall not be required to make any partial or interim payment to Holders Debentureholders unless the moneys in its hands, after reserving therefrom such - ' amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1, exceed 5% of the aggregate principal amount of the outstanding Notes, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control8.7a, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders of Notes pursuant to Section 6.7.2 subsection 6.7(1)(b) shall be made as follows: 6.8.1. (a) at least 21 days’ ' notice of every such payment shall be given in the manner provided in Article 10 specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. (b) payment in respect of any Notes Note shall be made upon presentation thereof at any one of the places specified in such notice and any such Notes Note thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes each Note after giving credit for the amount of the payment specified in such notice unless the Notes Note in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not mademade through the fault of the Corporation; and 6.8.4. (d) the Trustee shall not be required to make any partial or interim payment to Holders Noteholders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1subsection 6.7(1)(a), exceed 5% five percent of the aggregate principal amount of the outstanding Notes, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 section 11.8 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments In the event that the Corporation does not elect to satisfy all payments to the Noteholders of principal and interest, if any, outstanding under the Notes by issuing to such Holders Common Shares, payments to Holders of Notes pursuant to Section 6.7.2 subsection 5.7(b) shall be made as follows: 6.8.1. (a) at least 21 days’ notice of every such payment shall be given in the manner provided in Article 10 Eight specifying the date and time when and the place or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. (b) payment in respect of any Notes Note shall be made upon presentation thereof at any one of the places specified in such notice and any such Notes Note thereby paid in full shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes after giving credit for the amount of the payment specified in such notice unless the Notes in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. (c) the Trustee shall not be required to make any partial or interim payment to Holders Noteholders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1subsection 5.7(a), exceed 5% of the aggregate principal amount of the outstanding Notes, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 section 9.8 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forth.

Distribution of Moneys. Payments to Holders Except as may be otherwise provided in this Section 7 and for so long as no Loan Event of Notes pursuant to Section 6.7.2 Default has occurred and is continuing, all moneys received by Security Trustee shall be made as followsapplied in accordance with this Section 7.11: 6.8.17.11.1 Payments under the Equipment Agreement. Moneys received by Security Trustee constituting Equipment Payment or Equipment Agreement Commitment Fees under the Equipment Agreement (including the payment of interest on any such overdue Equipment Payment or Equipment Agreement Commitment Fees) shall be applied: First, so much of such funds as shall be required to pay in full the aggregate amount of any interest then due on the Loans hereunder, if any, at least 21 days’ notice the Overdue Rate and of every the interest then due on the Loans at the Applicable Rate therefor; Second, so much of such funds as shall be required to pay in full interest due on any Loan Commitment Fee then due hereunder, if any, at the Overdue Rate; Third, so much of such funds as shall be required to pay in full any Loan Commitment Fee then due hereunder; Fourth, so much of such funds shall be required to pay in full any principal installment then due on the Loans; and Fifth, the balance, if any, of such payment remaining thereafter shall be given distributed to Obligee or its designee. 7.11.2 Payments in the manner provided in Article 10 specifying the date and time when and the place Respect of an Event of Loss. Moneys received by Security Trustee constituting Casualty Loss Value (including any insurance proceeds or places where such payments are to be made and the amount of the payment and the application thereof as between principal and interest; 6.8.2. payment condemnation awards in respect of any Notes the subject Event of Loss which are payable to Security Trustee pursuant to the provisions of the Equipment Agreement) shall be made upon presentation thereof at any one applied first, to the prepayment of the places specified in such notice Loans required by Section 5.7.1 hereof, and second, the balance of any such Notes thereby paid in full moneys shall be surrendered, otherwise a notation of such payment shall be endorsed thereon; but the Trustee may in distributed to Obligee or its discretion dispense with presentation and surrender or endorsement in any special case upon receipt by it of such indemnity as it shall consider sufficient; 6.8.3. from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on the Notes after giving credit for the amount of the payment specified in such notice unless the Notes in respect of which such amount is owing is duly presented on or after the date so specified and payment of such amount is not made; and 6.8.4. the Trustee shall not be required to make any partial or interim payment to Holders unless the moneys in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in Section 6.7.1, exceed 5% of the aggregate principal amount of the outstanding Notes, but it may retain the moneys so received by it and deal with the same as provided in Section 11.9 until the money or investments representing the same, with the income derived therefrom, together with any other moneys for the time being under its control, shall be sufficient for such purpose or until it shall consider it advisable to apply the same in the manner hereinbefore set forthdesignee.