Common use of Distribution of Proceeds Clause in Contracts

Distribution of Proceeds. Payments to holders of Bonds pursuant to paragraph 7.6(b) shall be made as follows: (a) at least 10 business days' notice of every such payment shall be given in the manner provided in Section 11.2 specifying the time when and the place or places where the Bonds are to be presented and the amount of the payment and the application thereof as between principal and interest; (b) payment of any Bond shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond thereby paid in full shall be surrendered, otherwise a memorandum of such payment shall be endorsed thereon; (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond after giving credit for the amount of the payment (d) specified in such notice unless the Bond in respect of which such amount is owing be duly presented on or after the date so specified and payment of such amount be not made; and (e) the Trustee shall not be required to make any interim payment to Bond 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 paragraph 7.6(a), exceed 25% of the principal amount of the Bonds then outstanding.

Distribution of Proceeds. Payments to holders of Bonds Holders pursuant to paragraph 7.6(bSection 6.8(c) shall be made as followsin the following manner: (a) at least 10 business 15 days' ’ notice of every such payment shall be given in the manner provided in Section 11.2 Article 12 specifying the time when and the place or places where the Bonds Debentures are to be presented and the amount of the payment and the application thereof as between principal interest and interestprincipal; (b) payment of any Bond Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Debenture thereby paid in full shall be surrendered, otherwise a memorandum of such payment shall be endorsed thereonthereon but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it shall deem sufficient; (c) from and after the date day of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Debenture after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond in respect of which such amount Debenture is owing be duly presented on or after the date so specified and payment of such amount be not made; and (ed) the Trustee shall not be required to make any interim payment payments to Bond holders the Holders unless the moneys money in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in paragraph 7.6(aSections 6.8(a) and 6.8(b), exceed 252% of the principal amount of the Bonds then outstandingoutstanding Debentures.

Distribution of Proceeds. Payments to holders of Bonds Debentureholders pursuant to paragraph 7.6(bSection 8.8(b) shall be made as follows: (a) at least 10 business 15 days' ’ notice of every such payment shall be given in the manner provided specified in Section 11.2 12.2, specifying the time when and the place or places where at which the Bonds Debentures are to be presented and the amount of the payment and the application thereof as between principal principal, Premium and interest; (b) payment in respect of any Bond Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Debenture thereby paid in full shall be surrendered, otherwise a memorandum of such payment shall be endorsed thereon, but the Trustees may in their discretion dispense with presentation and surrender or endorsement in any case upon such indemnity being given as the Trustees shall consider sufficient; (c) from and after the date of payment specified in the such notice, interest shall accrue only on the amount owing on each Bond Debenture after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond Debenture in respect of which such amount is owing be is duly presented on or after the date so specified and payment of such amount be is not made; and (ed) the Trustee shall not be required to make any interim payment to Bond holders Debentureholders unless the moneys in its handsamount available to them for such purpose, after reserving therefrom such amount as the Trustee Trustees may think necessary to provide for the payments mentioned referred to in paragraph 7.6(aSection 8.8(a), exceed 25% exceeds two per cent of the aggregate principal amount of the Bonds Debentures then outstanding.

Distribution of Proceeds. Payments to holders of Bonds Noteholders pursuant to paragraph 7.6(bSubsection 8.06(b) and (c) shall be made as follows: (a) at At least 10 business 15 days' notice of every such payment shall be given in the manner provided in Section 11.2 14.01 specifying the time when and the place or places where the Bonds Notes are to be presented and the amount of the payment and the application thereof as between principal and interest;. (b) payment Payment of any Bond Note shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Note thereby paid in full shall be surrendered, otherwise a memorandum 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 such indemnity being given as it shall deem sufficient. (c) from From and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Note after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond in respect of which such amount Note is owing be duly 78 72. presented on or after the date so specified and payment of such amount be is not made; and. (ed) the The Trustee shall not be required to make any interim payment to Bond holders Noteholders unless the moneys in its hands, after reserving therefrom thereout such amount as the Trustee may think necessary to provide for the payments mentioned in paragraph 7.6(aSubsection 8.06 (a), exceed 25% two per cent of the principal amount of the Bonds then outstandingoutstanding Notes.

Distribution of Proceeds. Payments Payment to holders of Bonds Debentures and coupons pursuant to paragraph 7.6(bclause (b) of subsection (1) of section 6.07 shall be made as follows: (a1) at At least 10 business fifteen days' notice of every such payment shall be given in the manner provided in Section 11.2 Article Twelve specifying the time when and the place or places where the Bonds Debentures and coupons are to be presented and the amount of the payment and the application thereof as between principal principal, premium and interest;. (b2) payment Payment of any Bond Debenture or coupon shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Debenture or coupon thereby paid in full shall be surrendered, otherwise a memorandum 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 such indemnity being given as it shall deem sufficient. (c3) from From and after the date of payment specified in the notice, notice interest shall accrue only on the amount owing on each Bond Debenture and coupon after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond in respect of which such amount is owing it be duly presented on or after the date so specified and payment of such amount be not made; and. (e4) the The Trustee shall not be required to make any interim payment to Bond 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 paragraph 7.6(a)clause (a) of subsection (1) of section 6.07, exceed 255% of the principal amount of the Bonds then outstandingoutstanding Debentures.

Distribution of Proceeds. Payments to holders Holders of Bonds Debentures pursuant to paragraph 7.6(bSection 9.5(b) shall be made as follows: (a) at At least 10 business days' notice of every such payment shall be given in the manner provided in Section 11.2 2.16 specifying the time when and the place or places where the Bonds Debentures are to be presented and the amount of the payment and the application thereof as between principal principal, interest and interestany other moneys payable hereunder; (b) payment Payment of any Bond Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Debenture thereby paid in full shall be surrendered, otherwise a memorandum 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 such indemnity being given as it shall deem sufficient; (c) from From and after the date of payment specified in the notice, interest shall accrue only on the amount owing which remains unpaid on each Bond Debenture after giving credit for effect to the amount of the payment (d) payment specified in such notice notice, unless the Bond in respect of which such amount is owing Debenture be duly presented on or after the date so specified and payment of such amount be not made; and (ed) the The Trustee shall not be required to make any interim payment to Bond 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 paragraph 7.6(aSection 9.5(a), exceed 255% of the principal amount of the Bonds then outstandingDebentures.

Distribution of Proceeds. Payments to holders of Bonds Noteholders pursuant to paragraph 7.6(bSection 7.7(b) shall be made as follows: (a) at least 10 business 15 days' notice of every such payment shall be given in the manner provided specified in Section 11.2 10.2, specifying the time when and the place or places where at which the Bonds applicable Notes are to be presented and the amount of the payment and the application thereof as between principal principal, Premium and interest; (b) payment in respect of any Bond Note shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Note thereby paid in full shall be surrendered, otherwise a memorandum notation of such payment shall be endorsed thereon, but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any case upon such indemnity being given as the Trustee shall consider sufficient; (c) from and after the date of payment specified in the such notice, interest shall accrue only on the amount owing on each Bond Note after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond Note in respect of which such amount is owing be is duly presented on or after the date so specified and payment of such amount be is not made; and (ed) the Trustee shall not be required to make any interim payment to Bond holders Noteholders unless the moneys in its handsamount available to it for such purpose, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned referred to in paragraph 7.6(aSection 7.7(a), exceed 25% exceeds two per cent of the aggregate principal amount of the Bonds Notes of the Series in default then outstanding.

Distribution of Proceeds. Payments to holders of Bonds Holders pursuant to paragraph 7.6(b) section 7.6 shall be made as follows: (a) at least 10 business days' ’ notice of every such payment shall be given in the manner provided in Section 11.2 section 14.1 specifying the time when and the place or places where the Bonds Notes are to be presented and the amount of the payment and the application thereof as between principal principal, interest and interestany other moneys payable hereunder; (b) payment of any Bond Note shall be made upon presentation thereof at any one of the places specified in such notice and notice, any such Bond Note thereby paid in full shall be surrendered, surrendered and otherwise a memorandum of such payment shall be endorsed recorded by endorsement thereon; but the Trustee may in its discretion (but shall have no obligation to) dispense with presentation and surrender in any special case upon such indemnity being given as it shall deem sufficient; (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Note after giving credit for the amount of the payment (d) payment specified in such notice notice, unless the Bond in respect of which such amount is owing Note be duly presented on or after the date so specified and payment of such amount be not made; and (ed) the Trustee shall not be required to make any interim payment to Bond 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 paragraph subsection 7.6(a), exceed 255% of the principal amount of the Bonds then outstandingNotes.

Distribution of Proceeds. Payments to holders Holders of Bonds Debentures pursuant to paragraph 7.6(bclause 8.06(2) shall be made as follows: (a1) at least 10 business days' ’ notice of every such payment shall be given in the manner provided in Section 11.2 section 2.15 specifying the time when and the place or places where the Bonds Debentures are to be presented and the amount of the payment and the application thereof as between principal principal, interest and interestany other moneys payable hereunder; (b2) payment of any Bond Debenture shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Debenture thereby paid in full shall be surrendered, otherwise a memorandum 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 such indemnity being given as it shall deem sufficient; (c3) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Debenture after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond in respect of which such amount is owing Debenture be duly presented on or after the date so specified and payment of such amount be not made; and (e4) the Trustee shall not be required to make any interim payment to Bond 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 paragraph 7.6(aclause 8.06(1), exceed 255% of the principal amount of the Bonds then outstandingDebentures.

Distribution of Proceeds. Payments to holders of Bonds Holders pursuant to paragraph 7.6(bSection 8.8(c) shall be made as followsin the following manner: (a) at least 10 business 15 days' notice of every such payment shall be given in the manner provided in Section 11.2 Article 14 specifying the time when and the place or places where the Bonds Debentures are to be presented and the amount of the payment and the application thereof as between principal interest and interestprincipal; (b) payment of the principal amount of any Bond Certificated Debenture shall be made upon presentation thereof surrender of the Debenture Certificate at any one of the places specified in such notice and any such Bond thereby notice; provided that if the principal amount is paid in full part only, upon surrender of such Debenture Certificate for payment, the Holder shall be surrendered, otherwise entitled to receive a memorandum new Debenture Certificate for the unpaid principal amount of the Debenture so surrendered and further provided that such payment shall new Debenture Certificate may be endorsed thereonin the principal amount of CAD$1.00 or an integral multiple of CAD$1.00; (c) from and after the date day of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Debenture after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond in respect of which such amount Debenture is owing be duly presented on or after the date so specified and payment of such amount be not made; and (ed) the Trustee shall not be required to make any interim payment payments to Bond holders the Holders unless the moneys money in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned in paragraph 7.6(aSections 8.8(a) and 8.8(b), exceed 252% of the principal amount of the Bonds then outstandingoutstanding Debentures.

Distribution of Proceeds. Payments to holders of Bonds Holders pursuant to paragraph 7.6(b) section 7.6 shall be made as follows: (a) at least 10 business days' ’ notice of every such payment shall be given in the manner provided in Section 11.2 section 14.1 specifying the time when and the place or places where the Bonds Notes are to be presented and the amount of the payment and the application thereof as between principal principal, interest and interestany other moneys payable hereunder; (b) payment of any Bond Note shall be made upon presentation thereof at any one of the places specified in such notice and notice, any such Bond Note thereby paid in full shall be surrendered, surrendered and otherwise a memorandum of such payment shall be endorsed recorded by endorsement thereon, but the Trustee may in its discretion (but shall have no obligation to) dispense with presentation and surrender in any special case upon such indemnity being given as it shall deem sufficient; (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Note after giving credit for the amount of the payment (d) payment specified in such notice notice, unless the Bond in respect of which such amount is owing Note be duly presented on or after the date so specified and payment of such amount be not made; and (ed) the Trustee shall not be required to make any interim payment to Bond 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 paragraph subsections 7.6(a), exceed 255% of the principal amount of the Bonds then outstandingNotes.

Distribution of Proceeds. Payments to holders of Bonds Noteholders pursuant to paragraph 7.6(bSection 8.7(b) shall be made as follows: (a) at least 10 business 15 days' ’ notice of every such payment shall be given in the manner provided in Section 11.2 12.2 specifying the time when and the place or places where at which the Bonds Notes are to be presented and the amount of the payment and the application thereof as between principal principal, Premium and interest; (b) payment in respect of any Bond Note shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Note thereby paid in full shall be surrendered, otherwise a memorandum of such payment shall be endorsed thereon, but the Trustee may in its discretion dispense with such presentation and surrender or endorsement in any case upon such indemnity being given as the Trustee shall consider sufficient, acting reasonably; (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Note after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond Note in respect of which such amount is owing be is duly presented on or after the date so specified and payment of such amount be is not made; and (ed) the Trustee shall not be required to make any interim payment to Bond holders Noteholders unless the moneys amount in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned referred to in paragraph 7.6(aSection 8.7(a), exceed 25exceeds 1% of the aggregate principal amount of the Bonds Notes then outstanding.

Distribution of Proceeds. Payments to holders of Bonds Noteholders pursuant to paragraph 7.6(bSubsection 8.7(b) shall be made as follows: (a) at least 10 business 15 days' notice of every such payment shall be given in the manner provided in Section 11.2 12.2 specifying the time when and the place or places where at which the Bonds Notes are to be presented and the amount of the payment and the application thereof as between principal principal, Premium and interest; (b) payment in respect of any Bond Note shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Note thereby paid in full shall be surrendered, otherwise a memorandum of such payment shall be endorsed thereon, but the Trustee may in its discretion dispense with presentation and surrender or endorsement in any case upon such indemnity being given as the Trustee shall consider sufficient; (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Note after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond Note in respect of which such amount is owing be is duly presented on or after the date so specified and payment of such amount be is not made; and (ed) the Trustee shall not be required to make any interim payment to Bond holders Noteholders unless the moneys amount in its hands, after reserving therefrom such amount as the Trustee may think necessary to provide for the payments mentioned referred to in paragraph 7.6(aSubsection 8.7(a), exceed 25exceeds 2% of the aggregate principal amount of the Bonds Notes then outstanding.

Distribution of Proceeds. Payments Payment to holders Holders of Bonds Debentures and coupons pursuant to paragraph 7.6(bthe provisions of Subsection 8.6(b) shall be made as follows: (a) at least 10 business days' 15 days notice of every such payment shall be given in the manner provided in Section 11.2 ARTICLE 14 specifying the time when when, and the place or places where where, the Bonds Debentures and coupons are to be presented and the amount of the payment and the application thereof as between principal principal, premium, if any, and interest; (b) payment of any Bond Debenture or coupon shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Debenture or coupon thereby paid in full shall be surrendered, otherwise a memorandum of such payment shall be endorsed thereon;; provided, however, that the Trustee may in its discretion dispense with presentation and surrender or endorsement in any special case upon such indemnity being given as it shall deem sufficient; and FINOVA Trust Indenture Page 42 of 61 (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Debenture and coupon after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond in respect of which such amount is owing it be duly presented on or after the date so specified and payment of such amount be not made; and (e) the Trustee shall not be required to make any interim payment to Bond 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 paragraph 7.6(a), exceed 25% of the principal amount of the Bonds then outstandingmade.

Distribution of Proceeds. Payments to holders of Bonds Debentures pursuant to paragraph 7.6(bsubsection 7.6(a)(ii) shall be made as follows: (a) at least 10 business days' fifteen (15) days notice of every such payment shall be given in the manner provided in Section 11.2 specifying the time when and the place or places where the Bonds Debentures are to be presented and the amount of the payment and the application thereof as between principal and principal, interest, or other liability under this Indenture to which it is to be applied; (b) payment of any Bond Debenture shall be made upon presentation thereof at any one of the places Debenture at the place specified in such notice and any such Bond Debenture thereby paid in full shall be surrendered, otherwise a memorandum of such payment shall be endorsed thereon; but the Trustee may in its discretion dispense with presentation and surrender for endorsement in any special case upon such indemnity being given to it and to the Corporation as the Trustee shall deem sufficient; (c) from and after the date of so fixed for payment specified in the notice, unless payment shall have been duly demanded and have been refused, the Debentureholders will be entitled to interest shall accrue only on the amount owing on each Bond after giving credit for the amount of the payment balance (dif any) specified in such notice unless the Bond in respect of which such amount is owing be duly presented on or after the date so specified and payment of such amount be not made; and (e) the Trustee shall not be required to make any interim payment to Bond 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 paragraph 7.6(a), exceed 25% of the principal amount monies, and interest (if any) due to them, respectively, on the Debentures, after deduction of the Bonds then outstanding.respective amounts payable in respect thereof on the day so fixed in the notice;

Distribution of Proceeds. Payments to holders Registered Holders of Bonds Notes pursuant to paragraph 7.6(bclause 5.9(b) shall be made as follows: (a) at least 10 business 14 days' ’ notice of every such payment shall be given in the manner provided in Section 11.2 section 2.16 specifying the time when and the place or places where the Bonds Notes are to be presented and the amount of the payment and the application thereof as between principal principal, interest and interestany other moneys payable hereunder; (b) payment of any Bond Note shall be made upon presentation thereof at any one of the places specified in such notice and any such Bond Note thereby paid in full shall be surrendered, and otherwise a memorandum 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 such indemnity being given as it shall deem sufficient; (c) from and after the date of payment specified in the notice, interest shall accrue only on the amount owing on each Bond Note after giving credit for the amount of the payment (d) payment specified in such notice unless the Bond in respect of which such amount is owing Note be duly presented on or after the date so specified and payment of such amount be not made; and (ed) the Trustee shall not be required to make any interim payment to Bond holders Registered 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 paragraph 7.6(aclause 5.9(a), exceed 25% 2 per cent of the principal amount of the Bonds then outstandingNotes.