Funding of Obligations Sample Clauses

Funding of Obligations. The Severance Payment and other compensation payable to you pursuant to the terms of this Agreement shall be payable to you from the general assets of the Corporation or, to the extent not so paid, from the assets of an irrevocable grantor trust (or comparable asset repository) established by the Corporation for the purpose of securing payment of such liabilities. The Corporation shall, as soon as practicable but in no event later than 30 days after the occurrence of a Change of Control or Pending Change of Control giving rise to your entitlement to the Severance Payment or other compensation hereunder, transfer sufficient assets to such grantor trust (or comparable repository) to provide for payment to you in full of all unpaid amounts due hereunder.
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Funding of Obligations. Nothing contained in this Agreement, and no action taken pursuant to the provisions of this Agreement, including any setting aside of amounts by the Company with which to discharge its obligations hereunder, shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company (or any affiliate of the Company) and Executive, his designated beneficiary, his estate, or any other person or entity. To the extent that any person acquires a right to receive any payment or payments from the Company under this Agreement, such right shall be no greater than the right of any unsecured general creditor of the Company.
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Funding of Obligations. The District has formed the Community Facilities District No. 1 (North Vineyard Station) (the “CFD”) to fund its obligations under the O&M Plans, and will participate in forming such additional community facilities districts as may be necessary, advisable or convenient to fund such obligations. The District agrees to accept title for maintenance purposes to the completed improvements constructed in the Preserve as the improvements are completed by others to the satisfaction of the District pursuant to the applicable requirements of the O&M Plans and as the District has collected adequate funding from the CFD and additional community facilities districts to initiate, sustain and perform the maintenance obligations allocated to the District hereunder. The County acknowledges that its existing drainage fee program is anticipated to provide the funding needed by the County to perform the maintenance obligations allocated to the County.
Sample 1
Funding of Obligations. District has formed the CFD to fund its obligations hereunder, and will participate in forming such additional community facilities districts as may be necessary, advisable or convenient to fund its obligations hereunder throughout the remainder of this project. District agrees to accept title for maintenance purposes to the completed improvements constructed in the Preserve as the improvements are completed by others to the satisfaction of the District pursuant to a Developer’s Requirement Agreement entered into between the developer and the District, and as the District has collected adequate funding from the CFD and additional community facilities districts to initiate, sustain and perform the maintenance obligations allocated to the District hereunder. County acknowledges that its existing drainage fee program is anticipated to provide the funding needed by the County to perform the maintenance obligations allocated to the County unless otherwise stated herewith.
Sample 1

Related to Funding of Obligations

  • Ranking of Obligations The Company’s payment obligations under this Agreement and the Notes will, upon issuance of the Notes, rank pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of the Company and senior to any mandatorily redeemable Preferred Stock issued by the Company.

  • Repayment of Obligations Notwithstanding anything to the contrary contained herein, the Borrower shall repay the Advances Outstanding, all accrued and unpaid Yield, any Breakage Fees, Increased Costs, all accrued and unpaid costs and expenses of the Administrative Agent and Lenders and all other Obligations (other than unmatured contingent indemnification obligations) in full on the Facility Maturity Date.

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

  • Release of Obligations If the Delivery Date has not occurred on or prior to the Cut-Off Date (including by reason of the Aircraft not being completed and delivered, the Owner Participant's failure to make the full amount of its Commitment available in accordance with the terms of Section 3.02 hereof and no transferee Owner Participant having been identified pursuant to Section 3.05(a) hereof), then, in such event, the Owner Trustee shall not purchase the Aircraft from AVSA, and subject to the last sentence of Section 3.05(a) hereof the parties to the Operative Agreements shall have no further obligations or liabilities under any of said Operative Agreements with respect to the Aircraft, including the obligation of the Owner Participant to participate in the payment of the Purchase Price, and such documents shall terminate and have no further force or effect with respect to the Aircraft; provided, however, that if the last sentence of Section 3.05(a) hereof does not apply the Lessee shall provide, no later than the Cut-Off Date, notice of prepayment to the Indenture Trustee and the Certificates shall be prepaid on the 15th day following the Cut-Off Date as provided in Section 6.02(a)(vi) of the Original Indenture and Section 17.02(c) hereof and provided further, that (i) the Lessee's obligation to pay any Transaction Costs as provided in Section 3.04 hereof (to the extent such section is applicable) and to indemnify such parties to the extent provided in such documents, shall not be diminished or modified in any respect and (ii) the obligations of the Owner Trustee, the Indenture Trustee and the Lessee to return funds and pay interest, costs, expenses and other amounts thereon or in respect thereof as provided in Section 3.02 hereof shall continue.

  • Suspension of Obligations Without prejudice to the foregoing, so long as a Party shall be in default in payment or performance to the other Party under the Agreement and the other Party has not exercised its rights under this Section 8, or, if "Adequate Assurances" is specified as applying to the Agreement in Part XI of the Schedule, during the pendency of a reasonable request to a Party for adequate assurances of its ability to perform its obligations under the Agreement, the other Party may, at its election and without penalty, suspend its obligation to perform under the Agreement.

  • Nature of Obligations Nothing contained herein shall create or require the Bank to create a trust of any kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Bank hereunder, such right shall be no greater than the right of any unsecured general creditor of the Bank.

  • Nature of Obligations of Lenders Regarding Extensions of Credit The obligations of the Lenders under this Agreement to make the Loans and issue or participate in Letters of Credit are several and are not joint or joint and several. The failure of any Lender to make available its Commitment Percentage of any Loan requested by the Borrower shall not relieve it or any other Lender of its obligation, if any, hereunder to make its Commitment Percentage of such Loan available on the borrowing date, but no Lender shall be responsible for the failure of any other Lender to make its Commitment Percentage of such Loan available on the borrowing date.

  • Duration of Obligations The Manager’s obligation to provide Disentanglement Services will continue during the period commencing on the date that a Termination Notice is delivered and ending on the date on which the Successor Manager or the re-engaged Manager assumes all of the obligations of the Manager hereunder (the “Disentanglement Period”).

  • Mitigation of Obligations If any Lender requests compensation under Section 2.18, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.20, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 2.18 or Section 2.20, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

  • Continuation of Obligations All agreements and obligations of the Company contained herein shall continue during the period the Indemnitee is a director or officer of the Company, or is or was serving at the request of the Company as a director, officer, fiduciary, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, and shall continue thereafter so long as the Indemnitee shall be subject to any possible proceeding by reason of the fact that Indemnitee served in any capacity referred to herein.

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