SECURITY FOR DEBENTURES AND SUBORDINATION OF DEBENTURES Sample Clauses

SECURITY FOR DEBENTURES AND SUBORDINATION OF DEBENTURES. 59 9.1 Grant of Security Interest 59 9.2 Exceptions re: Contractual Rights, Licences, etc. 59 9.3 Attachment 59 9.4 PPSA Registration; Ranking 60 9.5 Permitted Dispositions of Secured Assets Before Default 60 TABLE OF CONTENTS (continued) Page
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SECURITY FOR DEBENTURES AND SUBORDINATION OF DEBENTURES. 59 9.1 Grant of Security Interest 59 9.2 Exceptions re: Contractual Rights, Licences, etc. 59 9.3 Attachment 59 9.4 PPSA Registration; Ranking 60 9.5 Permitted Dispositions of Secured Assets Before Default 60 9.6 Applicability of Article 61 TABLE OF CONTENTS (continued) Page 9.7 Order of Payment 61 9.8 Subrogation to Rights of Holders of Senior Indebtedness 62 9.9 Obligation to Pay Not Impaired 62 9.10 No Payment if Senior Indebtedness in Default 62 9.11 Payment on Debentures Permitted 63 9.12 Confirmation of Subordination 63 9.13 Knowledge of Trustee 64 9.14 Trustee May Hold Senior Indebtedness 64 9.15 Rights of Holders of Senior Indebtedness Not Impaired 64 9.16 Altering the Senior Indebtedness 64 9.17 Additional Indebtedness 64 9.18 Right of Debentureholder to Convert Not Impaired 65 9.19 Invalidated Payments 65 9.20 Contesting Security 65 9.21 Obligations Created by Article 9 65 ARTICLE 10 COVENANTS OF THE CORPORATION 65 10.1 To Pay Principal, Premium and Interest 65 10.2 To Pay Trustee’s Remuneration 65 10.3 To Give Notice of Default 66 10.4 Preservation of Existence, Etc. 66 10.5 Keeping of Books 66 10.6 Performance of Covenants by Trustee 66 10.7 Maintain Listing 66 10.8 Annual Certificate of Compliance 66 10.9 SEC Notice 67 10.10 Further Instruments and Acts 67 10.11 No Dividends or Distributions on Shares if Event of Default 67 10.12 To Reserve Shares 67 10.13 Covenants as to Security 67 10.14 Notice of Change of Chief Executive Officer and Notice of Changes Affecting the Business of the Corporation 68 10.15 Securities Laws 68
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Related to SECURITY FOR DEBENTURES AND SUBORDINATION OF DEBENTURES

  • Subordination of Debentures 48 Section 16.1. Agreement to Subordinate........................................48 Section 16.2. Default on Senior Debt, Subordinated Debt or Additional Senior Obligations..................................................49 Section 16.3.

  • Payment of Debentures (a) The Company shall pay the principal of and premium, if any, and interest (including interest accruing during an Extension Period and/or on or after the filing of a petition in bankruptcy or reorganization relating to the Company, whether or not a claim for post-filing interest is allowed in such proceeding) on the Debentures on or prior to the dates and in the manner provided in such Debentures or pursuant to this Junior Indenture. An installment of principal, premium, if any, or interest shall be considered paid on the applicable due date if on such date the Trustee or the Paying Agent holds, in accordance with this Junior Indenture, money sufficient to pay all of such installment then due. With respect to any Debenture, the Company shall pay interest on overdue principal and interest on overdue installments of interest (including interest accruing during an Extension Period and/or on or after the filing of a petition in bankruptcy or reorganization relating to the Company, whether or not a claim for post-filing interest is allowed in such proceeding), to the extent lawful, at the rate per annum borne by such Debenture, compounded quarterly. Interest on overdue interest shall accrue from the date such amounts become overdue.

  • Execution of Debentures The Debentures shall be signed in the name and on behalf of the Company by the manual or facsimile signature of its Chairman of the Board of Directors, Chief Executive Officer, Vice Chairman, President, one of its Managing Directors or one of its Executive Vice Presidents, Senior Vice Presidents or Vice Presidents. Only such Debentures as shall bear thereon a certificate of authentication substantially in the form herein before recited, executed by the Trustee or the Authenticating Agent by the manual signature of an authorized signer, shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee or the Authenticating Agent upon any Debenture executed by the Company shall be conclusive evidence that the Debenture so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. In case any officer of the Company who shall have signed any of the Debentures shall cease to be such officer before the Debentures so signed shall have been authenticated and delivered by the Trustee or the Authenticating Agent, or disposed of by the Company, such Debentures nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Debentures had not ceased to be such officer of the Company; and any Debenture may be signed on behalf of the Company by such Persons as, at the actual date of the execution of such Debenture, shall be the proper officers of the Company, although at the date of the execution of this Indenture any such person was not such an officer. Every Debenture shall be dated the date of its authentication.

  • The Debentures SECTION 2.01.

  • REDEMPTION OF DEBENTURES Section 3.1. Redemption......................................................................... 16 Section 3.2. Special Event Redemption........................................................... 16 Section 3.3. Optional Redemption by the Company................................................. 17 Section 3.4.

  • Securities Subordinated to Senior Debt (1) The Partnership, for itself, its successors and assigns, covenants and agrees, and each Holder of Securities, by his acceptance thereof, likewise covenants and agrees, that the payment of the principal of (and premium, if any), and interest on each and all of the Securities is hereby expressly subordinated, to the extent and in the manner hereinafter set forth, in right of payment to the prior payment in full of all Senior Debt of the Partnership.

  • SUBORDINATION OF NOTES Section 11.01.

  • Form of Debentures The Debentures and the Trustee’s certificate of authentication to be borne by such Debentures shall be substantially in the form set forth in Exhibit A, which is incorporated in and made a part of this Indenture. Any of the Debentures may have such letters, numbers or other marks of identification and such notations, legends and endorsements as the officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Debentures may be listed, or to conform to usage. Any Debenture in global form shall represent such of the outstanding Debentures as shall be specified therein and shall provide that it shall represent the aggregate amount of outstanding Debentures from time to time endorsed thereon and that the aggregate amount of outstanding Debentures represented thereby may from time to time be increased or reduced to reflect transfers or exchanges permitted hereby. Any endorsement of a Debenture in global form to reflect the amount of any increase or decrease in the amount of outstanding Debentures represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in such manner and upon instructions given by the holder of such Debentures in accordance with this Indenture. Payment of principal of and interest and premium, if any, on any Debenture in global form shall be made to the Debentureholder. The terms and provisions contained in the form of Debenture attached as Exhibit A hereto shall constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby.

  • Notation on Debentures Debentures authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article IX may bear a notation as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Debentures so modified as to conform, in the opinion of the Board of Directors of the Company, to any modification of this Indenture contained in any such supplemental indenture may be prepared and executed by the Company, authenticated by the Trustee or the Authenticating Agent and delivered in exchange for the Debentures then outstanding.

  • Reliance by Holders of Senior Indebtedness on Subordination Provisions Each Holder by accepting a Subordinated Security acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. This instrument may be executed in any number of counterparts, and by each party hereto on separate counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

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