Payment on Stay Sample Clauses
The Payment on Stay clause establishes the obligation for a party to continue making payments while a legal proceeding, such as an injunction or stay, is in effect. In practice, this means that even if the enforcement of a contract or obligation is temporarily halted by a court order, the responsible party must still fulfill payment requirements as originally agreed. This clause ensures that financial obligations are not suspended during legal delays, thereby protecting the receiving party from potential cash flow disruptions and maintaining the intended balance of the contract.
Payment on Stay. If:
(a) any Obligor or the Guarantor is prevented from making payment of any of the Guaranteed Obligations when it would otherwise be required to do so pursuant to the terms hereof; or
(b) the Guarantee Beneficiaries are prevented from demanding payment of the Guaranteed Obligations pursuant to the terms hereof; in each case because of a stay or other judicial proceeding or any other legal impediment, all Guaranteed Obligations or other amounts otherwise subject to demand, acceleration or payment shall nevertheless be payable by the Guarantor as provided for hereunder.
Payment on Stay. If the Borrower or the Guarantor is prevented from making payment of any of the Guaranteed Obligations when it would otherwise be required to do so, or the Lender is prevented from demanding payment of the Guaranteed Obligations because of a stay or other judicial proceeding or any other legal impediment, all Guaranteed Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantor as provided for hereunder.
Payment on Stay. If: (a) any Other Loan Party is prevented from making payment of any of the Obligations when it would otherwise be required to do so; or (b) the Administrative Agent is prevented from demanding payment of the Obligations because of a stay or other judicial proceeding or any other legal impediment, all Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantor as provided for hereunder.
Payment on Stay. If: (i) the Company is prevented from making payment of any of the Obligations when it would otherwise be required to do so; or (ii) any holder of a Note is prevented from demanding payment of the Obligations because of a stay or other judicial proceeding or any other legal impediment, all Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantor as provided for hereunder.\
Payment on Stay. If:
(a) the Borrower, any other Material Subsidiary or the Guarantor is prevented from making payment of any of the Guaranteed Obligations when it would otherwise be required to do so; or
(b) the Guarantee Beneficiaries are prevented from demanding payment of the Guaranteed Obligations; in each case because of a stay or other judicial proceeding or any other legal impediment, all Guaranteed Obligations or other amounts otherwise subject to demand, acceleration or payment shall nevertheless be payable by the Guarantor as provided for hereunder.
Payment on Stay. If: (i) the Borrower is prevented from making payment of any of the Obligations when it would otherwise be required to do so; or (ii) the Agent or any Lender is prevented from demanding payment of the Obligations because of a stay or other judicial proceeding or any other legal impediment, all Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantors as provided for hereunder.
Payment on Stay. If: (i) PET is prevented from making payment of any of the Obligations when it would otherwise be required to do so; or (ii) the Beneficiary is prevented from demanding payment of the Obligations because of a stay or other judicial proceeding or any other legal impediment, all Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantor as provided for hereunder.
Payment on Stay. If:
(a) the Borrower or Petro-Canada is prevented from making payment of any of the Obligations when it would otherwise be required to do so; or
(b) the Agent or any Lender is prevented from demanding payment of the Obligations; in each case because of a stay or other judicial proceeding or any other legal impediment, all Obligations or other amounts otherwise subject to demand, acceleration or payment under the Credit Agreement shall be payable by Petro-Canada as provided for hereunder.