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;
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Covenant to Pay means the covenants of the Issuer contained in Clause 3.1 (Covenant to pay) of the Arran Funding Note Trust Deed;
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Examples of Covenant to Pay in a sentence

  • Any amount received or recovered by the Trustee (otherwise than as a result of a payment by the Relevant Issuer to the Trustee in accordance with Clause 2 (Issue of Notes and Covenant to Pay)) in respect of any sum payable by the Relevant Issuer under this Trust Deed, the Notes or the Coupons may be placed in a suspense account and kept there for so long as the Trustee thinks fit.

  • 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.

  • In this case study, a UK based catheter supplier issues a PRN to a medical distribution company based in Canada.

  • Labour cost, travel times, supplies, such as, refrigerant, freezing agents, glycol and lubricants, or other costs (e.g. for installation, retrofitting) will not be reimbursed.6. Daikin, at its own discretion, can provide software and/or Hardware updates from time to time.

  • 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.

  • Covenant to Pay the Bonds; Bonds Limited Obligations of the Issuer.

  • Subject to clause 3.5 (Covenant to Pay) of the Trust Terms Module, the Calculation Agent acts solely as agent of the Issuer and does not assume any obligation or duty to, or any relationship of agency or trust for or with, the Securityholders.

  • 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 favor of the Secured Party that it will pay and discharge the Secured Obligations when they are due to be paid or discharged.

  • 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.


More Definitions of Covenant to Pay

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;
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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;
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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;
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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, Xxxxxxx-Xxxxxxx Maschinenfabrik GmbH and Xxxxxxx-Xxxxx Maschinen und Werkzeuge GmbH.
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Related to Covenant to Pay

  • Maintenance Fee The Maintenance Fee (see Contract Schedule I) will be deducted during the Accumulation Period from the Current Value on each anniversary of the date the Account is established and upon surrender of the entire Account.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Renewal Fee means the fee that Borrower must pay Coast upon renewal of this Agreement pursuant to Section 9.1 hereof, in the amount set forth on the Schedule.

  • Annual Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Issuer and its Subsidiaries.

  • Fixed Charges Coverage Ratio means, at any time, the ratio of (a) Consolidated Income Available for Fixed Charges for the period of four consecutive fiscal quarters ending on, or most recently ended prior to, such time to (b) Fixed Charges for such period of four consecutive fiscal quarters.

  • Break Fee means an amount to compensate a Proponent for some of the costs the Proponent had incurred in developing and submitting a Proposal in the event that the RFP Process is cancelled, as determined by the Sponsors in accordance with RFP Section 10.3.3;

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • Renewal Date means the effective date of Renewal. The first Renewal Date shall be the date as specified in the Policy Schedule (which shall not be later than the first anniversary of the Policy Effective Date) and the subsequent Renewal Date(s) shall be the anniversary(ies) of the first Renewal Date. The relevant Renewal Date shall be specified in the notification of Renewal in accordance with Section 3 of Part 4.

  • Variable Charge means the charge that varies according to kgtm and is calculated in accordance with the formula set out in paragraph 2.2.1, summed across all Services;

  • Net Default Charges With respect to any Mortgage Loan, Serviced Loan Combination or successor REO Mortgage Loan, the Default Charges referred to in clause third of Section 3.25(a) or clause fourth of Section 3.25(c), which are payable to the applicable Master Servicer as Additional Master Servicing Compensation or the applicable Special Servicer as Additional Special Servicing Compensation.

  • Hire Fee the hire fee specified in Item 13.

  • Arrears for this purpose means, in respect of a Loan, on any date that two or more Monthly Payments have become due and remain unpaid by the relevant Borrower, and this reporting line relates to repurchases under clause 8.11 of the Mortgage Sale Agreement.

  • Monthly Fee means the total consideration, including but not limited to, equipment or locker rental,

  • Monthly shall be construed accordingly;

  • Annual Fee has the meaning stated in Section 4.02(a).

  • Maintenance Fees means the non-refundable fees payable annually by Licensee to OT for Support Services;

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • year of assessment means the period of 12 months commencing on 1st January 1948, and each subsequent period of 12 months.

  • Month means calendar month.

  • Late Payment Charge means the charge that is applied when either Party fails to remit payment for any charges by the Bill Due Date, or if payment for any portion of the charges is received after the Bill Due Date, or if payment for any portion of the charges is received in funds which are not immediately available or received by either Party as of the Bill Due Date, or if either Party does not submit the Remittance Information.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Course Fee Shall refer to the compulsory fees to be charged by the PEI on account of the Student’s undertaking of the Course and as stated in Schedule B.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Service Fee means a fee charged by us to you for the administration of your credit facility.

  • Expense Fee As to each Mortgage Loan and any Distribution Date, the product of the Expense Fee Rate and its Stated Principal Balance as of that Distribution Date.