Covenant to Pay definition

Covenant to Pay means the covenant to pay set out in clause 4.1 of the Security Agreement.

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Covenant to Pay means the covenants of the Issuer contained in clause 2.6 (Covenant to pay) of the Note Trust Deed;

Covenant to Pay means the covenants of the Issuer contained in Clause 3.1 (Covenant to pay) of the Note Trust Deed;

Examples of Covenant to Pay in a sentence

• Each of the parties hereto agrees to and acknowledges the provisions set forth in clause 2 or clause 3 (as applicable) (Covenant to Pay) of the Dutch Collateral Documents.

• Each Company shall pay interest on any amounts due and payable by it under this Debenture (other than pursuant to Clause 2.1 (Covenant to Pay)) to the date of payment or discharge (notwithstanding any demand or any judgment obtained by the Security Trustee or the liquidation or administration of or any arrangement or composition with creditors by such Company) at the Default Rate.

• Covenant to Pay Unless this Section 3.2 is expressly disapplied in its entirety by any provision in the Principal Security Agreement, the Beneficiary covenants in favour of the Secured Party that it will pay and discharge the Secured Obligations when they are due to be paid or discharged.

• As between the Guarantor and the Clearing House but without affecting the obligations of the Obligor, the Guarantor shall be liable under Clause 2 (Guarantee and Covenant to Pay) as if it were the principal debtor and not merely a surety.

• Each of the Beneficiaries agrees to and acknowledges the provisions set forth in Clause 2 (Covenant to Pay) of the Deed of Pledge of Shares, dated as of December 23, 2003, by Kraton Polymers LLC, as pledgor, to UBS AG, Stamford Branch, as Collateral Agent, with respect to the pledge of certain shares in Kraton Polymers Holdings B.V., a Netherlands private company.

• Neither the covenant to pay in Clause 2.1 (Covenant to Pay Secured Liabilities) nor the obligation to pay interest pursuant to Clause 2.3 (Interest) nor the security created by this Deed shall extend to or include any liability or sum which would, but for this Clause 2.2, cause such covenant or security to be unlawful under any applicable law.

• This subsection was modified due to the IT classification project which made substantial changes in the IT classification plan.

• Liability to meet demand for repayment of Grant and Covenant to Pay Where the Department requires the Grantee to repay any amount of Grant, the Grantee shall repay the amount concerned within 20 Working Days of receiving the demand for repayment.

• Each Chargor’s obligations under Clause 2 (Covenant to Pay) and the Charges are continuing obligations and will extend to the ultimate balance of the Secured Obligations regardless of any intermediate payment or discharge in whole or in part.

• Covenant to Pay Bonds in Event of Default..........................

More Definitions of Covenant to Pay

Covenant to Pay means: (i) in respect of the Notes, the covenants of the Issuer contained in clause 5 (Covenant to Repay Principal) and clause 6 (Covenant to Pay Interest) of the Trust Deed; and (ii) in respect of the Secured Amounts, contained in clause 3 (Issuer's Undertaking to Pay) of the Deed of Charge;

Covenant to Pay means the covenants of the Issuer in respect of the Notes and Residual Certificates contained in clause 6 (Covenant to Repay Principal) and clause 7 (Covenant to Pay Interest and Residual Payments) of the Trust Deed and, in respect of the Secured Amounts, contained in clause 3 (Issuer’s Undertaking to Pay) of the Deed of Charge and the corresponding covenants contained in any supplemental or further trust deeds executed in connection with the issue of any Further Notes;

Covenant to Pay means the covenants of the Issuer in respect of the Notes contained in Clause 3.2 (Covenant to Pay) a of the Trust Deed and, in respect of the Secured Amounts, contained in Clause 3 (Issuer's Covenant to Pay) of the Irish Deed of Charge and Clause 3 (Issuer's Covenant to Pay) of the English Deed of Charge, as applicable;

Covenant to Pay means the Covenant to Pay executed by GWR in connection with the Pledge Agreements providing for a pledge of the equity interests of GGH, ▇▇▇▇▇▇▇-▇▇▇▇▇▇▇ Maschinenfabrik GmbH and ▇▇▇▇▇▇▇-▇▇▇▇▇ Maschinen und Werkzeuge GmbH.