Allied Finance definition
Examples of Allied Finance in a sentence
If shares of the Allied Common Stock have not been converted into another security and such shares have no value or if no shares of Allied Common Stock are available for issuance, nothing herein contained will relieve Allied Finance of its obligation to pay Interest Installments and amounts payable upon a change of Control, to the extent and in the manner set forth in the Debentures.
Each of the Company, the Guarantors named in the Indenture hereinafter referred to and Allied Finance, as Future Guarantor, has heretofore executed and delivered to the Trustee a certain Indenture dated as of December 1, 1996 (herein called the "Indenture").
Allied Finance fails to pay the outstanding principal amount of this Debenture on the Maturity Date.
A petition is filed against Allied Finance seeking to initiate a Bankruptcy or Insolvency Proceeding and such petition is not dismissed within 180 days after being filed, or a court of competent jurisdiction enters an order, judgment or decree appointing a receiver or trustee for Allied Finance, or for all or substantially all of its property, and such order, judgment or decree is not discharged or stayed within 180 days after its entry.
Upon the termination of any Blockage Period, the right of Laid▇▇▇ ▇▇ receive payments shall be reinstated, and Allied Finance shall resume making such payments to Laid▇▇▇ ▇▇ accordance with the terms hereof.
The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of Allied Finance, any right to require a proceeding first against Allied Finance or right to require the prior disposition of the assets of Allied Finance to meet its obligations, protest, notice and all demands whatsoever and covenants that this Guaranty will not be discharged except by complete performance of the obligations contained in the Debenture.
Laid▇▇▇ ▇▇▇eby further acknowledges and agrees to the provisions herein contained, and agrees that the application and payment of funds by Allied Finance as herein set forth on account of the issuance of Subscription Shares to LTI as described in Section 2.3 will satisfy and discharge the obligation of Allied Finance to pay Interest Installments otherwise due under the Allied Finance 7% Debenture or to pay the Change of Control Proceeds to Laid▇▇▇ ▇▇▇n the occurrence of a Change of Control Event.
Allied Finance (i) files a petition initiating a voluntary Bankruptcy or Insolvency Proceeding, (ii) seeks, consents to, or does not contest the appointment of a receiver or trustee for itself or for all or any substantial part of its property, (iii) is voluntarily adjudicated a bankrupt or insolvent, (iv) makes a general assignment for the benefit of its creditors, or (v) admits in writing its inability to pay its debts as they mature.
Section 1305(a) of the Indenture provides that Allied Finance shall, and the Company shall cause Allied Finance to, upon the closing of the Acquisition, unconditionally guarantee (the "Allied Finance Guarantee") the due and punctual payment of Allied Parent's obligations under the Parent Guarantee, in accordance with the terms of this First Supplemental Indenture, the Indenture and the Securities.
No right of any present or future holder of any Senior Indebtedness to enforce the subordination or other provisions referred to in this Section 6 shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of Allied Finance or Laid▇▇▇, ▇▇ by any non-compliance by Allied Finance or Laid▇▇▇ ▇▇▇h the terms, provisions and covenants of this Debenture, regardless of any knowledge thereof any such holder may have or otherwise be charged with.