Liquidity Provision. If during the term of this Agreement AIG Life needs funds not otherwise available to it to make timely payment of its obligations under the policies or otherwise, AIG shall provide, at the request of AIG Life, such funds in cash, either as equity or as a loan at AIG's option, on a timely basis. If such funds are advanced to AIG Life as a loan, such loan shall be on such terms and conditions, including maturity and rate of interest, as AIG and AIG Life shall agree.
Liquidity Provision. If, during the term of this Agreement, Subsidiary needs funds not otherwise available to it to make timely payment of its obligations under the policies or otherwise, AIG shall provide, at the request of Subsidiary, such funds in cash, either as equity or as a loan at AIG's option, on a timely basis. If such funds are advanced to Subsidiary as a loan, such loan shall be on such terms and conditions, including maturity and rate of interest, as AIG and Subsidiary shall agree.
Liquidity Provision. If, during the term of this Agreement, ------------------- Subsidiary is unable to make timely payment of interest, principal or premium, if any, on any Debt issued by it, Parent promptly shall provide to Subsidiary, at its request or at the request of any Lender, such funds (in the form of cash or liquid assets) as equity or if Parent and Subsidiary shall agree as a loan. If such funds are advanced to Subsidiary as a loan, that loan will be on such terms and conditions, including maturity and rate of interest, as Parent and Subsidiary will agree. Notwithstanding the foregoing, any such loan will be subordinated in all respects to any and all Debt of Subsidiary, whether or not such Debt is outstanding at the time of such loan.
Liquidity Provision. If, during the term of this Agreement, Subsidiary requires funds to make timely payment of interest, principal or premium, if any, on any Debt, and such funds are not obtainable by Subsidiary from other sources on commercially reasonable terms, Parent shall provide to Subsidiary, at its request, such funds either as equity or as a loan, at Parent's option, to assure that the Subsidiary will be able to pay such principal, interest and premium, if any, when due. If such funds are advanced to Subsidiary as a loan, such loan shall be on such terms and conditions, including maturity and rate of interest, as Parent and Subsidiary shall agree. Notwithstanding the foregoing, any such loan shall be subordinated in all respects to any and all Debt, whether or not such Debt is outstanding at the time of such loan.
Liquidity Provision. If, during the term of this Agreement, Subsidiary is unable to make timely payment on the relevant payment date of interest, principal or premium, if any, on, or other amounts due in respect of, all or any portion of the Debt Securities issued by it or related Debt, Parent promptly shall provide to Subsidiary, at its request, such funds (in the form of cash or liquid assets) in an amount sufficient to permit Subsidiary to make timely payment on the relevant payment date in respect of such Debt as equity or as a loan, as Parent shall determine in its sole discretion. If such funds are advanced to Subsidiary as a loan, such loan shall be on such terms and conditions, including maturity and rate of interest, as Parent and Subsidiary shall agree. Notwithstanding the foregoing, any such loan shall be subordinated to any and all debt of Subsidiary owing to any lender (including any Lender) other than Parent. Each of the parties hereto acknowledges that Parent's obligations hereunder do not constitute a guarantee by Parent of Debt of Subsidiary. As used herein, the term "Lender" shall mean (i) any person, firm, corporation or other entity to which Subsidiary is indebted for any Debt or which is acting as the Trustee or a trustee or authorized representative on behalf of such person, firm corporation or other entity or which is acting as SPURS Agent (as defined in the Indenture), and (ii) Citicorp Securities, Inc. and Salomon Brothers Inc, and their respective successors (the "Initial Purchasers"), with respect to Debt owing by Subsidiary to the Initial Purchasers in accordance with the terms of that certain Purchase Agreement, dated as of June 16, 1998, relating to the Debt Securities; provided that, notwithstanding the foregoing, the claims of the Initial Purchasers shall be subordinated to the claims of the holders of the Debt Securities and the Insurer (as defined below) hereunder.
Liquidity Provision. If, during the term of this 1999 Agreement, Subsidiary is unable to make timely payment of such amounts as shall be due and payable pursuant to a guarantee issued by Subsidiary and running to the benefit of any obligee ("Obligee") of Trading and/or DTE-CoEnergy, then, Parent promptly shall provide to Subsidiary, at its request, such funds (in the form of cash or liquid assets) in an amount sufficient to permit Subsidiary to make timely payment in respect of such guarantee. If such funds are advanced to Subsidiary as a loan, such loan shall be on such terms and conditions, including maturity and rate of interest, as Parent and Subsidiary shall agree. Notwithstanding the foregoing, any such loan shall be subordinated to any and all obligations of Subsidiary owing to any Lender pursuant to the terms of the Credit Agreement and such amounts as shall be owing pursuant to guarantees issued by Subsidiary for the benefit of Obligees of Trading and/or DTE-CoEnergy. Each of the parties hereto acknowledges that Parent's obligations hereunder do not constitute a guarantee by Parent of the obligations of Subsidiary.
Liquidity Provision. If, during the term of this Agreement:
Liquidity Provision. If, during the term of this Agreement, Subsidiary requires funds to make timely payment of interest, principal or premium, if any, on any Debt or to acquire and deliver property on exchange of the Debt, and such funds are not obtainable by Subsidiary from other sources on commercially reasonable terms, Parent shall provide to Subsidiary, at its request, such funds either as equity or as a loan, at Parent's option, to assure that the Subsidiary will be able to pay such principal, interest and premium, if any, or acquire and deliver such property on exchange, when due. If such funds are advanced to Subsidiary as a loan, such loan shall be on such terms and conditions, including maturity and rate of interest, as Parent and Subsidiary shall agree. Notwithstanding the foregoing, any such loan shall be subordinated in all respects to any and all Debt, whether or not such Debt is outstanding at the time of such loan.
Liquidity Provision. If, during the term of this Agreement:
(a) Subsidiary needs funds not otherwise available to it to meet any of its obligations as transferor under the PSA, or
(b) Subsidiary has insufficient funds to pay any of its obligations when due (except for any such obligations which are the subject of a bona fide dispute), the non-payment of which could constitute a basis for the filing of an involuntary case against Subsidiary under the United States Bankruptcy Code, as now or hereafter in effect, Parent shall provide Subsidiary funds as a loan, in a manner sufficiently timely to cause such obligations to be satisfied when due. Such loan shall bear a market rate of interest, shall be negotiated in an arm's length transaction, and otherwise shall be on such terms and conditions, including maturity, as Parent and Subsidiary shall agree. Notwithstanding the foregoing, any such loan shall be subordinated in all respects to any and all debt of Subsidiary, whether or not such debt is outstanding at the time of such loan, and to all financial obligations of Subsidiary under the PSA, whether or not such loan or PSA has such express subordination provisions therein and notwithstanding anything to the contrary in such loan or PSA.
Liquidity Provision. Buyer shall take appropriate steps to obtain ------------------- and maintain for one year following the Closing Date, not less than $30 million in life insurance on the life of Xxxxxx X. Crown naming Xxxxxxx Crown as beneficiary in order to provide liquid funds to pay taxes related to the capital stock of Buyer owned by the Crowns resulting from the death of Xxxxxx X. Crown or both the Sellers; provided, however, that the annual premium for any such -------- ------- life insurance shall not exceed $45,000.
