Common use of Payments on Securities Permitted Clause in Contracts

Payments on Securities Permitted. Nothing contained in this Indenture or in any of the Securities shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except during the pendency of any Proceeding referred to in Section 12.02 or under the conditions described in Sections 12.03 and 12.04, payments of principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities or (b) prevent the application by the Trustee of any moneys deposited with it hereunder to the payment of or on account of the principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities unless the Trustee shall have received at its Corporate Trust Office written notice of any event prohibiting the making of such payment more than two Business Days prior to the date fixed for such payment or prior to the execution of an instrument to satisfy and discharge this Indenture based upon the deposit of funds under Section 4.01(1)(B).

Appears in 3 contracts

Samples: Indenture (Ocwen Financial Corp), Indenture (Metris Companies Inc), Indenture (Metris Companies Inc)

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Payments on Securities Permitted. Nothing contained in this Indenture or in any of the Securities shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except during the pendency of any Proceeding referred to in Section 12.02 or under the conditions described in Sections 12.03 and 12.04, payments of principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities or (b) prevent the application by the Trustee of any moneys deposited with it hereunder to the payment of or on account of the principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities unless the Trustee shall have received at its Corporate Trust Office written notice of any event prohibiting the making of such payment more than two Business Days prior to the date fixed for such payment or prior to the execution of an instrument to satisfy and discharge this Indenture based upon the deposit of funds under Section 4.01(1)(B4.01(l)(B).

Appears in 2 contracts

Samples: Indenture (Amerus Life Holdings Inc), Indenture (Amerus Life Holdings Inc)

Payments on Securities Permitted. Nothing contained in this Indenture or in any of the Securities shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except during the pendency of any Proceeding referred to in Section 12.02 or under the conditions described as provided in Sections 12.03 1102 and 12.041103, payments of principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities or (b) prevent the application by the Trustee of any moneys deposited with it hereunder to the payment of or on account of the principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities unless the Trustee shall have received at its Corporate Trust Office written notice of any event prohibiting the making of such payment more than two Business Days prior to the date fixed for such payment or prior to the execution of an instrument to satisfy and discharge this Indenture based upon the deposit of funds under Section 4.01(1)(B401(1)(B).

Appears in 1 contract

Samples: Indenture (Merrill Lynch Preferred Funding I Lp)

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Payments on Securities Permitted. Nothing contained -------------------------------- in this Indenture or in any of the Securities shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except during the pendency of any Proceeding referred to in Section 12.02 or under the conditions described in Sections 12.03 and 12.04, payments of principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities or (b) prevent the application by the Trustee of any moneys deposited with it hereunder to the payment of or on account of the principal, premium, interest or Additional Amounts, and any interest thereon, of or on the Securities unless the Trustee shall have received at its Corporate Trust Office written notice of any event prohibiting the making of such payment more than two Business Days prior to the date fixed for such payment or prior to the execution of an instrument to satisfy and discharge this Indenture based upon the deposit of funds under Section 4.01(1)(B).

Appears in 1 contract

Samples: Indenture (Metris Companies Inc)

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