Common use of Notification of the Trustee Clause in Contracts

Notification of the Trustee. The Company shall notify the Trustee --------------------------- promptly after each and every date on which an event occurs in respect of which Liquidated Damages are required to be paid (an "Event Date"). Liquidated Damages shall be paid by depositing Liquidated Damages with the Trustee, in trust, for the benefit of the Holders of the Notes, on or before the applicable Interest Payment Date (whether or not any payment other than Liquidated Damages is payable on such Notes), in immediately available funds in sums sufficient to pay the Liquidated Damages then due to such Holders. Each obligation to pay Liquidated Damages shall be deemed to accrue from the applicable date of the occurrence of the Registration Default.

Appears in 3 contracts

Samples: Registration Rights Agreement (Primus Telecommunications Group Inc), Registration Rights Agreement (Primus Telecommunications Group Inc), Registration Rights Agreement (Primus Telecommunications Group Inc)

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Notification of the Trustee. The Company shall notify the Trustee --------------------------- promptly within one business day after each and every date on which an event occurs in respect of which Liquidated Damages are required to be paid (an "Event Date"). Liquidated Damages shall be paid by depositing Liquidated Damages with the Trustee, in trust, for the benefit of the Holders of the Notes, on or before the applicable Interest Payment Date (whether or not any payment other than Liquidated Damages is payable on such Notes), in immediately available funds in sums sufficient to pay the Liquidated Damages then due to such Holders. Each obligation to pay Liquidated Damages shall be deemed to accrue from the applicable date of the occurrence of the Registration Default.

Appears in 1 contract

Samples: Registration Rights Agreement (Globix Corp)

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Notification of the Trustee. The Company shall notify the --------------------------- Trustee --------------------------- promptly within one business day after each and every date on which an event occurs in respect of which Liquidated Damages are required to be paid (an "Event Date"). Liquidated Damages shall be paid by depositing Liquidated Damages with the Trustee, in trust, for the benefit of the Holders of the Notes, on or before the applicable Interest Payment Date (whether or not any payment other than Liquidated Damages is payable on such Notes), in immediately available funds in sums sufficient to pay the Liquidated Damages then due to such Holders. Each obligation to pay Liquidated Damages shall be deemed to accrue from the applicable date of the occurrence of the Registration Default.

Appears in 1 contract

Samples: Registration Rights Agreement (Facilicom International Inc)

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