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

  • 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.

  • 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.

  • 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.

  • Subclauses (a) and (b) of Clause 2.3 (Covenant to Pay) shall apply (with consequential amendments as necessary) to such payments other than those in respect of sums due under Clause 8 (Remuneration and Indemnification of the Trustee).

  • 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 the Bonds; Bonds Limited Obligations of the Issuer.

  • 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.

  • Section 8.1 Covenant to Pay the Bonds; Bonds Limited Obligations of the Issuer.

  • The guarantee contained in 2.1.2 (Covenant to Pay) is given subject to, and with the benefit of, the provisions set out in the Second Schedule.

  • 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.


More Definitions of Covenant to Pay

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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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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Related to Covenant to Pay

  • Maintenance Fee means any fee, obligation, or

  • 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.

  • Increased Reporting Period means the period commencing after the continuance of an Increased Reporting Event and continuing until the date when no Increased Reporting Event has occurred for 30 consecutive days.

  • 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 for any period means the maximum amount which is payable during such period for interest on, and the amortization during such period of any original issue discount of, Debt of the Company and its Subsidiaries and the amount of dividends which are payable during such period in respect of any Disqualified Stock.

  • Fixed Charges Coverage Ratio means, for any date of determination, the ratio of (a) Consolidated Income Available for Fixed Charges for the four (4) consecutive fiscal quarters of the Company then most recently ended to (b) Fixed Charges for such period.

  • 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.

  • 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.