Notice of Deferral of Payment and Payment of Amount in Arrears Sample Clauses

Notice of Deferral of Payment and Payment of Amount in Arrears. The Issuer shall give a Notice of Deferral to the Trustee and the Noteholders, in accordance with Sections 13.3 and 13.4, respectively of any: (i) Interest Payment Date on which, pursuant to Section 2.8(a), interest will not be paid; (ii) portion of the principal otherwise payable on the Maturity Date which, pursuant to Section 2.8(a), will not be paid; and (iii) date upon which amounts in respect of any Amount in Arrears and/or Additional Interest Amounts shall become due and payable; provided always that any failure by the Issuer to comply with its obligations to notify the Trustee and the Noteholders in accordance with this Section 2.8(c) shall not affect the obligation of the Issuer to defer any payment or pay any Amount in Arrears when due in accordance with the provisions of Section 2.8(a). Such Notice of Deferral shall be given in writing by the Issuer to the Trustee and the Noteholders not later than the later of the day that is two Business Days prior to the date upon which any amount is due on the Notes under this Indenture (including, without limitation, amounts of principal, interest and other amounts in respect thereof) and the day on which an event causing the Issuer to defer payment in accordance with Section 2.8(a) of this Indenture occurs. Notwithstanding anything to the contrary in this Indenture, if the Trustee shall not have received a Notice of Deferral from the Issuer by 12:00 p.m. (New York time) on the day upon which any amount is due on the Notes, the Trustee shall have full power and authority to receive such amount and to apply the same to the purpose for which it was received.
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Notice of Deferral of Payment and Payment of Amount in Arrears. The Issuer shall use its reasonable efforts to give not more than 14 nor less than two Business Days' prior notice to the Noteholders (with a copy to the Insurer), in accordance with Section 15.4: (i) of any Interest Payment Date or Optional Redemption Date on which, pursuant to Section 2.8(a), interest will not be paid; (ii) of any portion of the principal otherwise payable on the Maturity Date or any Optional Redemption Date which, pursuant to Section 2.8(a), will not be paid; and (iii) of any date upon which amounts in respect of any Amount in Arrears and/or Additional Interest Amounts shall become due and payable; provided always that any failure by the Issuer to comply with its obligations to notify the Noteholders in accordance with this Section 2.8(c) shall not affect the obligation of the Issuer to defer any payment or pay any Amount in Arrears when due in accordance with the provisions of Section 2.8(a).
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Related to Notice of Deferral of Payment and Payment of Amount in Arrears

  • Extension of Payment; Reduction of Principal Interest or Fees; Modification of Terms of Payment Whether or not any Loans are outstanding, extend the Expiration Date or the time for payment of principal or interest of any Loan (excluding the due date of any mandatory prepayment of a Loan), the Commitment Fee or any other fee payable to any Lender, or reduce the principal amount of or the rate of interest borne by any Loan or reduce the Commitment Fee or any other fee payable to any Lender, without the consent of each Lender directly affected thereby;

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

  • Termination of Payment Fund Any portion of the Payment Fund that remains undistributed to the holders of Certificates and Book Entry Shares for twelve months after the Effective Time shall be delivered by the Paying Agent to the Parent, upon demand, and any holder of a Certificate or Book Entry Shares who has not theretofore complied with this Article II shall thereafter look only to the Parent for payment of the Merger Consideration, but shall have no greater rights against the Parent than may be accorded to general unsecured creditors of the Parent under applicable law.

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.

  • Timing of Payments All payments of Expenses (including without limitation Expense Advances) by the Company to the Indemnitee pursuant to this Agreement shall be made to the fullest extent permitted by law as soon as practicable after written demand by Indemnitee therefor is presented to the Company, but in no event later than thirty (30) business days after such written demand by Indemnitee is presented to the Company, except in the case of Expense Advances, which shall be made no later than ten (10) business days after such written demand by Indemnitee is presented to the Company.

  • Alternate Payment and Notice Provisions Notwithstanding any provision of this Indenture or any of the Notes to the contrary, the Issuer may enter into any agreement with any Holder of a Note providing for a method of payment, or notice by the Indenture Trustee or any Paying Agent to such Holder, that is different from the methods provided for in this Indenture for such payments or notices. The Issuer will furnish to the Indenture Trustee a copy of each such agreement and the Indenture Trustee will cause payments to be made and notices to be given in accordance with such agreements.

  • Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows:

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Withholding of Payment City reserves the right to withhold, in whole or in part, payment for any and all work that: (i) has not been completed by Contractor; (ii) is inadequate or defective and has not been remedied or resolved in a manner satisfactory to the City Project Manager; or (iii) which fails to comply with any term, condition, or other requirement under this Agreement. Any payment withheld shall be released and remitted to Contractor within THIRTY (30) calendar days of the Contractor’s remedy or resolution of the inadequacy or defect.

  • Repayment of Amounts Advanced for Network Upgrades Upon the Commercial Operation Date, the Interconnection Customer shall be entitled to a repayment, equal to the total amount paid to the Participating TO for the cost of Network Upgrades. Such amount shall include any tax gross-up or other tax-related payments associated with Network Upgrades not refunded to the Interconnection Customer, and shall be paid to the Interconnection Customer by the Participating TO on a dollar-for- dollar basis either through (1) direct payments made on a levelized basis over the five- year period commencing on the Commercial Operation Date; or (2) any alternative payment schedule that is mutually agreeable to the Interconnection Customer and Participating TO, provided that such amount is paid within five (5) years from the Commercial Operation Date. Notwithstanding the foregoing, if this Agreement terminates within five (5) years from the Commercial Operation Date, the Participating TO’s obligation to pay refunds to the Interconnection Customer shall cease as of the date of termination. Any repayment shall include interest calculated in accordance with the methodology set forth in FERC’s regulations at 18 C.F.R. §35.19a(a)(2)(iii) from the date of any payment for Network Upgrades through the date on which the Interconnection Customer receives a repayment of such payment. Interest shall continue to accrue on the repayment obligation so long as this Agreement is in effect. The Interconnection Customer may assign such repayment rights to any person. If the Small Generating Facility fails to achieve commercial operation, but it or another Generating Facility is later constructed and makes use of the Network Upgrades, the Participating TO shall at that time reimburse Interconnection Customer for the amounts advanced for the Network Upgrades. Before any such reimbursement can occur, the Interconnection Customer, or the entity that ultimately constructs the Generating Facility, if different, is responsible for identifying the entity to which reimbursement must be made.

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