Common use of Postponement of Scheduled Delivery Date Clause in Contracts

Postponement of Scheduled Delivery Date. (i) If for any reason whatsoever the closing of the transactions contemplated hereby is not consummated on the Delivery Date provided for pursuant to Section 2(b) (the "Scheduled Delivery Date"), the closing shall be deemed adjourned to the next Business Day or to such other Business Day on or prior to _______________ as Owner shall specify by written notice to the Pass Through Trustee and the Indenture Trustee. (ii) If the closing fails to occur on the Scheduled Delivery Date, Owner shall cause the Indenture Trustee to promptly return to the Pass Through Trustees any funds provided by any such Pass Through Trustee, together with interest or income earned thereon. (iii) If the closing fails to occur on the Scheduled Delivery Date and funds are not returned, as provided by clause (ii) above, to each Pass Through Trustee that made funds available, Owner shall use reasonable efforts to cause the Indenture Trustee to invest, at the risk of Owner, the funds received by it from such Pass Through Trustees in Cash Equivalents. Any such obligations purchased by Owner, whether directly or through a repurchase agreement, shall be held in trust by the Indenture Trustee for the benefit of the respective Pass Through Trustees that provided such funds. (iv) If the closing fails to occur on the Scheduled Delivery Date, unless Owner shall cause the Indenture Trustee to return all funds to the Pass Through Trustee by 2:00 p.m., New York City time, on the Scheduled Delivery Date, Owner shall reimburse each Pass Through Trustee that has made funds available pursuant to this Section 2 for the loss of the use of its funds an amount equal to the excess, if any, of (x) interest at the Debt Rate on the amount of such funds for the period from and including the Scheduled Delivery Date to but excluding the actual Delivery Date or, if earlier, the day on which such Pass Through Trustee's funds are returned if such return is made by 2:00 p.m., New York City time (or to but excluding the next following Business Day if such return is not made by such time) over (y) any amount paid to such Pass Through Trustee in respect of interest or income earned by Owner pursuant to clause (iii) above. (v) On the Delivery Date or on the date funds are required to be returned to the Pass Through Trustees pursuant to clause (ii) above, Owner shall reimburse the Pass Through Trustees that provided funds which are invested by Owner pursuant to this subsection (d) for any losses incurred on such investments. All income and profits on the investment of such funds shall be for the respective accounts of such Pass Through Trustee, and Owner shall not be liable for failure to invest such funds, except for its own negligence or willful misconduct.

Appears in 2 contracts

Samples: Participation Agreement (Us Airways Inc), Participation Agreement (Us Airways Inc)

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Postponement of Scheduled Delivery Date. (i) If for any reason whatsoever the closing of the transactions contemplated hereby is not consummated on the Delivery Date provided for pursuant to Section 2(b) (the "Scheduled Delivery Date"), the closing shall be deemed adjourned to the next Business Day or to such other Business Day on or prior to _______________ as Owner shall specify by written notice to the Pass Through Trustee Trustees and the Indenture Trustee. (ii) If the closing fails to occur on the Scheduled Delivery Date, Owner shall cause the Indenture Trustee to promptly return to the Pass Through Trustees any funds provided by any such Pass Through Trustee, together with interest or income earned thereon. (iii) If the closing fails to occur on the Scheduled Delivery Date and funds are not returned, as provided by clause (ii) above, to each Pass Through Trustee that made funds available, Owner shall use reasonable efforts to cause the Indenture Trustee to invest, at the risk of Owner, the funds received by it from such Pass Through Trustees in Cash Equivalents. Any such obligations purchased by Owner, whether directly or through a repurchase agreement, shall be held in trust by the Indenture Trustee for the benefit of the respective Pass Through Trustees that provided such funds. (iv) If the closing fails to occur on the Scheduled Delivery Date, unless Owner shall cause the Indenture Trustee to return all funds to the Pass Through Trustee Trustees by 2:00 p.m., New York City time, on the Scheduled Delivery Date, Owner shall reimburse each Pass Through Trustee that has made funds available pursuant to this Section 2 for the loss of the use of its funds an amount equal to the excess, if any, of (x) interest at the Debt Rate on the amount of such funds for the period from and including the Scheduled Delivery Date to but excluding the actual Delivery Date or, if earlier, the day on which such Pass Through Trustee's funds are returned if such return is made by 2:00 p.m., New York City time (or to but excluding the next following Business Day if such return is not made by such time) over (y) any amount paid to such Pass Through Trustee in respect of interest or income earned by Owner pursuant to clause (iii) above. (v) On the Delivery Date or on the date funds are required to be returned to the Pass Through Trustees pursuant to clause (ii) above, Owner shall reimburse the Pass Through Trustees that provided funds which are invested by Owner pursuant to this subsection (d) for any losses incurred on such investments. All income and profits on the investment of such funds shall be for the respective accounts of such Pass Through Trustee, and Owner shall not be liable for failure to invest such funds, except for its own negligence or willful misconduct.

Appears in 1 contract

Samples: Participation Agreement (Us Airways Inc)

Postponement of Scheduled Delivery Date. (i) If for any reason whatsoever the closing of the transactions contemplated hereby is not consummated on the Delivery Date provided for pursuant to Section 2(b) (the "Scheduled Delivery Date"), the closing shall be deemed adjourned to the next Business Day or to such other Business Day on or prior to _______________ as Owner shall specify by written notice to the Pass Through Trustee Trustees and the Indenture Trustee. (ii) If the closing fails to occur on the Scheduled Delivery Date, Owner shall cause the Indenture Trustee to promptly return to the Pass Through Trustees any funds provided by any such Pass Through Trustee, together with interest or income earned thereon. (iii) If the closing fails to occur on the Scheduled Delivery Date and funds are not returned, as provided by clause (ii) above, to each Pass Through Trustee that made funds available, Owner shall use reasonable efforts to cause the Indenture Trustee to invest, at the risk of Owner, the funds received by it from such Pass Through Trustees in Cash Equivalents. Any such obligations purchased by Owner, whether directly or through a repurchase agreement, shall be held in trust by the Indenture Trustee for the benefit of the respective Pass Through Trustees that provided such funds. (iv) If the closing fails to occur on the Scheduled Delivery Date, unless Owner shall cause the Indenture Trustee to return all funds to the Pass Through Trustee Trustees by 2:00 p.m., New York City time, on the Scheduled Delivery Date, Owner shall reimburse each Pass Through Trustee that has made funds available pursuant to this Section 2 for the loss of the use of its funds an amount equal to the excess, if any, of (x) interest at the Debt Rate on the amount of such funds for the period from and including the Scheduled Delivery Date to but excluding the actual Delivery Date or, if earlier, the day on which such Pass Through Trustee's funds are returned if such return is made by 2:00 p.m., New York City time (or to but excluding the next following Business Day if such return is not made by such time) over (y) any amount paid to such Pass Through Trustee in respect of interest or income earned by Owner pursuant to clause (iii) above. (v) On the Delivery Date or on the date funds are required to be returned to the Pass Through Trustees Trusteess pursuant to clause (ii) above, Owner shall reimburse the Pass Through Trustees that provided funds which are invested by Owner pursuant to this subsection (d) for any losses incurred on such investments. All income and profits on the investment of such funds shall be for the respective accounts of such Pass Through Trustee, and Owner shall not be liable for failure to invest such funds, except for its own negligence or willful misconduct.

Appears in 1 contract

Samples: Owned Aircraft Participation Agreement (Us Airways Inc)

Postponement of Scheduled Delivery Date. (i) If for any reason whatsoever the closing of the transactions contemplated hereby is not consummated on the Delivery Date provided for pursuant to Section 2(b) (the "Scheduled Delivery Date"), the closing shall be deemed adjourned to the next Business Day or to such other Business Day on or prior to _______________ [-] as Owner shall specify by written notice to the Class G Pass Through Trustee and the Indenture Trustee. (ii) If the closing fails to occur on the Scheduled Delivery Date, Owner shall cause the Indenture Trustee to promptly return to the Class G Pass Through Trustees Trustee any funds provided by any such Class G Pass Through Trustee, together with interest or income earned thereon. (iii) If the closing fails to occur on the Scheduled Delivery Date and funds are not returned, as provided by clause (ii) above, to each the Class G Pass Through Trustee that made funds availableTrustee, Owner shall use reasonable efforts to cause the Indenture Trustee to invest, at the risk of Owner, the funds received by it from such the Class G Pass Through Trustees Trustee in Cash Equivalents. Any such obligations purchased by Owner, whether directly or through a repurchase agreement, shall be held in trust by the Indenture Trustee for the benefit of the respective Class G Pass Through Trustees that provided such fundsTrustee. (iv) If the closing fails to occur on the Scheduled Delivery Date, unless Owner shall cause the Indenture Trustee to return all funds to the Class G Pass Through Trustee by 2:00 p.m., New York City time, on the Scheduled Delivery Date, Owner shall reimburse each the Class G Pass Through Trustee that has made funds available pursuant to this Section 2 for the loss of the use of its funds an amount equal to the excess, if any, of (x) interest at the Debt Rate on the amount of such funds for the period from and including the Scheduled Delivery Date to but excluding the actual Delivery Date or, if earlier, the day on which such the Class G Pass Through Trustee's funds are returned if such return is made by 2:00 p.m., New York City time (or to but excluding the next following Business Day if such return is not made by such time) over (y) any amount paid to such the Class G Pass Through Trustee in respect of interest or income earned by Owner pursuant to clause (iii) above. (v) On the Delivery Date or on the date funds are required to be returned to the Class G Pass Through Trustees pursuant to clause (ii) above, Owner shall reimburse the Class G Pass Through Trustees that provided funds which are invested by Owner pursuant to this subsection (d) for any losses incurred on such investments. All income and profits on the investment of such funds shall be for the respective accounts account of such the Class G Pass Through Trustee, and Owner shall not be liable for failure to invest such funds, except for its own negligence or willful misconduct.

Appears in 1 contract

Samples: Participation Agreement (Us Airways Inc)

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Postponement of Scheduled Delivery Date. (i) If for any reason whatsoever the closing of the transactions contemplated hereby is not consummated on the Delivery Date provided for pursuant to Section 2(b) (the "Scheduled Delivery Date"), the closing shall be deemed adjourned to the next Business Day or to such other Business Day on or prior to _______________ as Owner shall specify by written notice to the Pass Through Trustee and the Indenture Trustee, in which case the Pass Through Trustee shall comply with its obligations under Section 1.01 of each applicable Pass Through Trust Supplement. (ii) If the closing fails to occur on the Scheduled Delivery Date, Owner shall cause the Indenture Trustee to promptly return to the Pass Through Trustees any funds provided by any such Pass Through Trustee, together with interest or income earned thereon. (iii) If the closing fails to occur on the Scheduled Delivery Date and funds are not returned, returned to each Pass Through Trustee that made funds available as provided by clause (ii) above, to each Pass Through Trustee that made funds available, Owner shall use reasonable efforts to cause the Indenture Trustee to invest, at the risk of Owner, the funds received by it from such Pass Through Trustees in Cash Equivalents. Any such obligations purchased by Owner, whether directly or through a repurchase agreement, shall be held in trust by the Indenture Trustee for the benefit of the respective Pass Through Trustees that provided such funds. (iv) If the closing fails to occur on the Scheduled Delivery Date, unless Owner shall cause the Indenture Trustee to return all funds to the Pass Through Trustee by 2:00 p.m., New York City time, on the Scheduled Delivery Date, Owner shall reimburse each Pass Through Trustee that has made funds available pursuant to this Section 2 for the loss of the use of its funds an amount equal to the excess, if any, of (x) interest at the Debt Rate on the amount of such funds for the period from and including the Scheduled Delivery Date to but excluding the actual Delivery Date or, if earlier, the day on which such Pass Through Trustee's funds are returned if such return is made by 2:00 p.m., New York City time (or to but excluding the next following Business Day if such return is not made by such time) over (y) any amount paid to such Pass Through Trustee in respect of interest or income earned by Owner pursuant to clause (iii) above. (v) On the Delivery Date or on the date funds are required to be returned to the Pass Through Trustees pursuant to clause (ii) above, Owner shall reimburse the Pass Through Trustees that provided funds which are invested by Owner pursuant to this subsection (d) ), for any losses incurred on such investments. All income and profits on the investment of such funds shall be for the respective accounts of such Pass Through Trustee, and Owner shall not be liable for failure to invest such fundsfunds or for any losses incurred on such investments, except for its own negligence or willful misconduct.

Appears in 1 contract

Samples: Participation Agreement (Us Airways Inc)

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