Common use of Securities to be Secured in Certain Events Clause in Contracts

Securities to be Secured in Certain Events. If, upon any such consolidation of the Company with or merger of the Company into any other corporation, or upon any conveyance, lease or transfer of the property of the Company substantially as an entirety to any other Person, any property or assets of the Company would thereupon become subject to any Lien, then unless such Lien could be created pursuant to Section 1014 without equally and ratably securing the Securities, the Company, prior to or simultaneously with such consolidation, merger, conveyance, lease or transfer, will as to such property or assets, secure the Securities Outstanding (together with, if the Company shall so determine any other Indebtedness of the Company now existing or hereinafter created which is not subordinate in right of payment to the Securities) equally and ratably with (or prior to) the Indebtedness which upon such consolidation, merger, conveyance, lease or transfer is to become secured as to such property or assets by such Lien, or will cause such Securities to be so secured; PROVIDED that, for the purpose of providing such equal and ratable security, the principal amount of the Securities shall mean that amount which would at the time of making such effective provision be due and payable pursuant to Section 502 upon a declaration of acceleration of the Maturity thereof, and the extent of such equal and ratable security shall be adjusted, to the extent permitted by law, as and when said amount changes over time as provided in Section 502. ARTICLE NINE

Appears in 9 contracts

Samples: Indenture (Entertainment Inc), Indenture (Entertainment Inc), Indenture (Entertainment Inc)

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Securities to be Secured in Certain Events. If, upon the consummation of any such consolidation transaction referenced in Section 801, any of the Company with or merger of the Company into any other corporation, or upon any conveyance, lease or transfer of the property of the Company substantially as an entirety to any other Person, any property or assets of the Company Company’s Principal Properties would thereupon become subject to any Liena Mortgage, then unless such Lien Mortgage could be created pursuant to Section 1014 1006 without equally and ratably securing the Securities, the Company, prior to or simultaneously with such consolidationtransaction, merger, conveyance, lease or transfer, will as to such property or assets, shall secure the Outstanding Securities Outstanding (together with, if the Company shall so determine determine, any other Indebtedness of the Company now existing or hereinafter hereafter created which is not subordinate in right of payment to the Securities) equally and ratably with (or prior to) to the Indebtedness which upon such consolidation, merger, conveyance, lease or transfer is to become secured as to such property or assets by such LienMortgage, or will shall cause such Outstanding Securities to be so secured; PROVIDED provided that, for the purpose of providing such equal and ratable security, the principal amount of the Original Issue Discount Securities and Indexed Securities shall mean that amount which would at the time of making such effective provision be due and payable pursuant to Section 502 and the terms of such Original Issue Discount Securities and Indexed Securities upon a declaration of acceleration of the Maturity thereof, and the extent of such equal and ratable security shall be adjusted, to the extent permitted by law, as and when said amount changes over time as provided in Section 502pursuant to the terms of such Original Issue Discount Securities and Indexed Securities. ARTICLE NINENINE - Supplemental Indentures

Appears in 2 contracts

Samples: Teck Resources (Teck Metals Ltd.), Indenture (Teck Cominco LTD)

Securities to be Secured in Certain Events. If, upon any such consolidation of the Company with with, or merger of the Company into Company, into, any other corporation, or upon any conveyance, transfer or lease or transfer of the property of the Company substantially as an the entirety to any other Person, any property or assets Principal Property of the Company or any Restricted Securities owned immediately prior thereto, would thereupon become or be subject to any Lien, then unless such Lien could be created pursuant to Section 1014 1006 without equally and ratably securing the Securities, the Company, Company prior to or simultaneously with such consolidationtransaction will, merger, conveyance, lease or transfer, will as to such property Principal Property or assetsRestricted Securities, secure the Securities Outstanding hereunder (together with, if the Company shall so determine determine, any other Indebtedness Debt of the Company now existing or hereinafter hereafter created which is not subordinate in right of payment to the Securities) equally and ratably with (or prior to) the Indebtedness Debt which upon such consolidation, merger, conveyance, lease or transfer is to become secured as to such property Principal Property or assets Restricted Securities by such Lien, or will cause such Securities to be so secured; PROVIDED that, provided that for the purpose of providing such equal and ratable security, security the principal amount of the Original Issue Discount Securities and Indexed Securities shall mean that amount which would which, at the time of making such effective provision of such equal and ratable security, would be due and payable pursuant to Section 502 and the terms of such Original Issue Discount Securities and Indexed Securities upon a declaration of acceleration of the Maturity thereof, and the extent of such equal and ratable security shall be adjusted, to the extent permitted by law, as and when said amount changes over time as provided in Section 502pursuant to the terms of such Original Issue Discount Securities and Indexed Securities. ARTICLE NINE

Appears in 1 contract

Samples: Atmos Energy Corp

Securities to be Secured in Certain Events. If, upon any such consolidation of the Company with or merger of the Company into any other corporation, or upon any conveyance, lease or transfer of the property of the Company substantially as an entirety to any other Person, any property or assets of the Company would thereupon become subject to any Lien, then unless such Lien could be created pursuant to Section 1014 without equally and ratably securing the Securities, the Company, prior to or simultaneously with such consolidation, merger, conveyance, lease or transfer, will as to such property or assets, secure the Securities Outstanding (together with, if the Company shall so determine any other Indebtedness of the Company now existing or hereinafter created which is not subordinate in right of payment to the Securities) equally and ratably with (or prior to) the Indebtedness which upon such consolidation, merger, conveyance, lease or transfer is to become secured as to such property or assets by such Lien, or will cause such Securities to be so secured; PROVIDED provided that, for the purpose of providing such equal and ratable security, the principal amount of the Securities shall mean that amount which would at the time of making such effective provision be due and payable pursuant to Section 502 upon a declaration of acceleration of the Maturity thereof, and the extent of such equal and ratable security shall be adjusted, to the extent permitted by law, as and when said amount changes over time as provided in Section 502. ARTICLE NINE

Appears in 1 contract

Samples: Indenture (Entertainment Inc)

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Securities to be Secured in Certain Events. If, upon any such consolidation of the Company an Issuer with or merger of the Company an Issuer into any other corporation, or upon any conveyance, lease or transfer of the property of the Company an Issuer substantially as an entirety to any other Person, any property or assets of the Company such Issuer would thereupon become subject to any Lien, then unless such Lien could be created pursuant to Section 1014 without equally and ratably securing the Securities, the Companysuch Issuer, prior to or simultaneously with such consolidation, merger, conveyance, lease or transfer, will as to such property or assets, secure the Securities Outstanding (together with, if the Company such Issuer shall so determine any other Indebtedness of the Company Issuer now existing or hereinafter created which is not subordinate in right of payment to the Securities) equally and ratably with (or prior to) the Indebtedness which upon such consolidation, merger, conveyance, lease or transfer is to become secured as to such property or assets by such Lien, or will cause such Securities to be so secured; PROVIDED thatprovided, that for the purpose of providing such equal and ratable security, the principal amount of the Securities shall mean that amount which would at the time of making such effective provision be due and payable pursuant to Section 502 upon a declaration of acceleration of the Maturity thereof, and the extent of such equal and ratable security shall be adjusted, to the extent permitted by law, as and when said amount changes over time as provided in Section 502. ARTICLE NINE.

Appears in 1 contract

Samples: Restructuring Agreement (Upc Polska Inc)

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