Prepayments by Xxxx for Pulp and Loans by Northwood Sample Clauses

Prepayments by Xxxx for Pulp and Loans by Northwood. (a) On June 28 and December 29 of each year until all principal and interest of Notes-I and Notes-II have been paid in full, Pulp Corporation shall make a computation of its aggregate cash balance, provided that, in computing any such cash balance there shall be excluded cash allocated on the books of Pulp Corporation for property additions or for the acquisition of timber rights. In the event that such computation shows an aggregate cash balance which is less than the total amount of (i) interest payments due upon any indebtedness of Pulp Corporation on the next succeeding June 30 or December 31, as the case may be, including, without limitation thereto, Notes-I and Notes-II, (ii) $1,250,000, and (iii) the principal payments due on the next succeeding June 30 or December 31, as the case may be, on all indebtedness of Pulp Corporation other than Notes-I and Notes-II (the difference between such aggregate cash balance and such total amount due being hereinafter called the "Cash Deficiency"), Pulp Corporation shall promptly notify Xxxx and Northwood not later than the close of business on the next succeeding June 29 or December 30, as the case may be. Xxxx shall thereupon make a prepayment (without interest) to Pulp Corporation upon the purchase price of Pulp to be purchased thereafter hereunder, such prepayment to be equal to one-half of the Cash Deficiency and Northwood shall thereupon make a loan, without interest, to Pulp Corporation equal to one-half of the Cash Deficiency. The prepayments of purchase price by Xxxx pursuant to the foregoing paragraph shall be credited against subsequent purchases of Pulp by Xxxx from Pulp Corporation and loans by Northwood made pursuant to the foregoing paragraph shall be repaid in cash by Pulp Corporation to Northwood; such crediting against purchases of Pulp by Xxxx and such repayment of loans to Northwood, if any, shall not be made while there exists a Cost Deficiency on a cumulative basis for all previous Operating Periods less amounts previously paid with respect thereto.
Sample 1
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Related to Prepayments by Xxxx for Pulp and Loans by Northwood

  • Assignments and transfers by the Lenders Subject to this Clause 23, a Lender (the “Existing Lender”) may:

  • Assignments and transfers by Lenders (a) A Lender (the Existing Lender) may, subject to the following provisions of this Subclause, at any time assign or transfer (including by way of novation) any of its rights and obligations under this Agreement to any other person (the New Lender).

  • Assignment and transfers by Obligors No Obligor may assign any of its rights or transfer any of its rights or obligations under the Finance Documents.

  • Assignments and Transfers by Investors The provisions of this Agreement shall be binding upon and inure to the benefit of the Investors and their respective successors and assigns. An Investor may transfer or assign, in whole or from time to time in part, to one or more persons its rights hereunder in connection with the transfer of Registrable Securities by such Investor to such person, provided that such Investor complies with all laws applicable thereto and provides written notice of assignment to the Company promptly after such assignment is effected.

  • Transfers by Banks If a Bank wishes to transfer all or any of its rights, benefits and/or obligations hereunder as contemplated in Clause 26.2 (ASSIGNMENTS AND TRANSFERS BY BANKS), then such transfer may be effected by the delivery to the Agent and the Borrower of a duly completed and duly executed Transfer Certificate in which event, on the later of the Transfer Date specified in such Transfer Certificate and the fifth business day after (or such earlier business day endorsed by the Agent on such Transfer Certificate) the date of delivery of such Transfer Certificate to the Agent:

  • Assignments by Xxxxxxx Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions:

  • Assignments and transfers by Obligors No Obligor may assign or transfer any of its rights and obligations under the Finance Documents without the prior consent of all the Lenders.

  • The Commitments and Loans Section 2.01 Commitments 53 Section 2.02 Borrowings, Conversions and Continuations of Loans 53 Section 2.03 Letters of Credit 56 Section 2.04 Swing Line Loans 63 Section 2.05 Prepayments 66 Section 2.06 Scheduled Repayment of Loans 68 Section 2.07 Termination and Reduction of Revolving Facility Commitments 68 Section 2.08 Interest 69 Section 2.09 Fees 69 Section 2.10 Computation of Interest and Fees 71 Section 2.11 Evidence of Debt 72 Section 2.12 Payments Generally; Administrative Agent’s Clawback 72 Section 2.13 Sharing of Payments by Lenders 74 Section 2.14 Incremental Loans 75 Section 2.15 Defaulting Lenders 77 Section 2.16 Cash Collateral 80 Section 2.17 Agent Advances; Overadvances 81 Section 2.18 Settlement 82 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY Section 3.01 Taxes 84 Section 3.02 Illegality 88 Section 3.03 Inability to Determine Rates 88 Section 3.04 Increased Costs 89 Section 3.05 Compensation for Losses 91 Section 3.06 Mitigation Obligations; Replacement of Lenders 91 Section 3.07 Survival 92 ARTICLE IV

  • Advances, Investments and Loans The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, lend money or credit or make advances to any Person, or purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, any other Person, or purchase or own a futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, or hold any cash or Cash Equivalents (each of the foregoing an "Investment" and, collectively, "Investments"), except that the following shall be permitted:

  • Investments and Loans No Company shall: (a) create, acquire or hold any Subsidiary, (b) make or hold any investment in any stocks, bonds or securities of any kind, (c) be or become a party to any joint venture or other partnership, (d) make or keep outstanding any advance or loan to any Person, or (e) be or become a Guarantor of any kind; provided, that this Section shall not apply to:

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