TERMINATION OF OBLIGATION TO PARTICIPATE. Notwithstanding any other provision of this Agreement, if the Closing does not occur on or before the Commitment Termination Date, the Commitment of each Participant and its obligation to participate in the payment of Lessor's Cost shall expire and be of no further force and effect; PROVIDED, that the liability of any Participant that has defaulted in the payment of its Commitment shall not be released.
Appears in 13 contracts
Samples: Participation Agreement (Continental Airlines Inc /De/), Participation Agreement (Continental Airlines Inc /De/), Participation Agreement (Continental Airlines Inc /De/)
TERMINATION OF OBLIGATION TO PARTICIPATE. Notwithstanding any other provision of this Agreement, if the Closing does not occur on or before the Commitment Termination Date, the Commitment of each Participant and its obligation to participate in the payment of Lessor's Cost shall expire and be of no further force and effect; PROVIDEDprovided, that the liability of any Participant that has defaulted in the payment of its Commitment shall not be released.
Appears in 4 contracts
Samples: Note Purchase Agreement (Continental Airlines Inc /De/), Note Purchase Agreement (Airtran Holdings Inc), Lease Agreement (Atlas Air Inc)
TERMINATION OF OBLIGATION TO PARTICIPATE. Notwithstanding any other provision of this Agreement, if the Closing does not occur on or before the Commitment Termination Date, the Commitment of each Owner Participant and its obligation to participate in the payment of Lessor's Cost shall expire and be of no further force and effect; PROVIDEDprovided, that the liability of any Owner Participant that if it has defaulted in the payment of its Commitment shall not be released.
Appears in 2 contracts
Samples: Financing Agreement (Amtran Inc), Participation Agreement (Amtran Inc)
TERMINATION OF OBLIGATION TO PARTICIPATE. Notwithstanding any other provision of this Agreement, if the Closing does not occur on or before the Commitment Termination Date, the Commitment of each Participant and its obligation to participate in the payment of Lessor's ’s Cost shall expire and be of no further force and effect; PROVIDEDprovided, that the liability of any Participant that has defaulted in the payment of its Commitment shall not be released.released.]8
Appears in 1 contract
Samples: Participation Agreement (Continental Airlines Inc /De/)
TERMINATION OF OBLIGATION TO PARTICIPATE. Notwithstanding any other provision of this Agreement, if the Closing does not occur on or before the Commitment Termination Date, the Commitment of each the Loan Participant and its obligation to participate in the payment of Lessor's Cost shall expire and be of no further force and effect; PROVIDED, that the liability of any the Loan Participant that has defaulted in the payment of its Commitment shall not be released.
Appears in 1 contract
Samples: Participation Agreement (Continental Airlines Inc /De/)
TERMINATION OF OBLIGATION TO PARTICIPATE. Notwithstanding any other provision of this Agreement, if the Closing does not occur on or before the Commitment Termination Date, the Commitment of each Participant and its obligation to participate in the payment of Lessor's Cost shall expire and be of no further force and effect; PROVIDED, PROVIDED that the liability of any Participant that has defaulted in the payment of its Commitment shall not be released.
Appears in 1 contract
