Common use of Notes Payable on Redemption Date; Provision for Payment of Indenture Trustee [and Securities Insurer] Clause in Contracts

Notes Payable on Redemption Date; Provision for Payment of Indenture Trustee [and Securities Insurer]. The Notes to be redeemed shall, following notice of redemption as required by Section 10.02 hereof (in the case of redemption pursuant to Section 10.01) hereof, on the Redemption Date become due and payable at the Note Redemption Amount and (unless the Issuer shall default in the payment of the Note Redemption Amount) no interest shall accrue thereon for any period after the date to which accrued interest is calculated for purposes of calculating the Note Redemption Amount. The Issuer may not redeem the Notes unless (i) all outstanding obligations under the Notes have been paid in full and (ii) the Indenture Trustee has been paid all amounts to which it is entitled hereunder and the Securities Insurer has been paid all Securities Insurer Reimbursement Amounts to which it is entitled as of the applicable Redemption Date.

Appears in 3 contracts

Samples: Indenture (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-2), Indenture (Empire Funding Home Loan Owner Trust 1998 3), Indenture (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-1)

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Notes Payable on Redemption Date; Provision for Payment of Indenture Trustee [and Securities Insurer]. The Notes or portions thereof to be redeemed shall, following notice of redemption as required by Section 10.02 hereof 10.2 (in the case of redemption pursuant to Section 10.01) hereof10.1), on the Redemption Date become due and payable at the Note Redemption Amount Price and (unless the Issuer shall default in the payment of the Note Redemption AmountPrice) no interest shall accrue thereon on the Redemption Price for any period after the date to which accrued interest is calculated for purposes of calculating the Note Redemption AmountPrice. The Issuer may not redeem the Notes unless unless, (i) all outstanding obligations under the Notes have been paid in full and (ii) the Indenture Trustee has been paid all amounts to which it is entitled hereunder and the Securities Insurer has been paid all Securities Insurer Reimbursement Amounts to which it is entitled as of the applicable Redemption Date.

Appears in 1 contract

Samples: Indenture (Firstplus Investment Corp)

Notes Payable on Redemption Date; Provision for Payment of Indenture Trustee [and Securities Insurer]. The Notes to be redeemed shall, following notice of redemption as required by Section 10.02 hereof (in the case of redemption pursuant to Section 10.01) hereof, on the Redemption Date become due and payable at the Note Redemption Amount and (unless the Issuer shall default in the payment of the Note Redemption Amount) no interest shall accrue thereon for any period after the date to which accrued interest is calculated for purposes of calculating the Note Redemption Amount. The Issuer may not redeem the Notes unless (i) all outstanding obligations under the Notes have been paid in full and (ii) the Indenture Trustee has been paid all amounts to which it is entitled hereunder [and the Securities Insurer has been paid all Securities Insurer Reimbursement Amounts to which it is entitled as of the applicable Redemption Date].

Appears in 1 contract

Samples: Mortgage Loan Trust Indenture (Hsi Asset Securitization Corp)

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Notes Payable on Redemption Date; Provision for Payment of Indenture Trustee [and Securities Insurer]. The Notes to be redeemed shall, following notice of redemption as required by Section 10.02 hereof (in the case of redemption pursuant to Section 10.01) hereof, on the Redemption Date become due and payable at the Note Redemption Amount and (unless the Issuer Issuing Entity shall default in the payment of the Note Redemption Amount) no interest shall accrue thereon for any period after the date to which accrued interest is calculated for purposes of calculating the Note Redemption Amount. The Issuer Issuing Entity may not redeem the Notes unless (i) all outstanding obligations under the Notes have been paid in full and (ii) the Indenture Trustee has been paid all amounts to which it is entitled hereunder [and the Securities Insurer has been paid all Securities Insurer Reimbursement Amounts to which it is entitled as of the applicable Redemption Date].

Appears in 1 contract

Samples: Indenture (Bcap LLC)

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