Debt Account definition

Debt Account means an account or accounts required to be established by the Corporation (and which shall be maintained by and subject to the control of the Indenture Trustee) for each series of Debentures pursuant to and in accordance with Section 2.16 of this Indenture;

Debt Account means an account or accounts established by the Issuer (and maintained by and subject to the control of the Trustee) for a Series pursuant to and in accordance with this Indenture.

Debt Account means an account or accounts required to be established by the Corporation (and which shall be maintained by and subject to the control of the Trustee) for each series of Debentures pursuant to and in accordance with Section 2.17 of this indenture;

Examples of Debt Account in a sentence

• The Trustee will use the funds deposited in a Debt Account to pay to the holder of a Note entitled to receive payment, the principal amount of, Premium on and any accrued and unpaid interest payable on the Note upon surrender of the Note at the Corporate Trust Office or at such other place or places as shall be designated for such purpose from time to time by the Issuer and the Trustee.

• Each such Debt Account shall be maintained by and be subject to the control of the Trustee for the purposes of this Indenture.

• Prior to 10:00 a.m. (Toronto time) on the Business Day prior to each Maturity Date for outstanding Notes, the Issuer will deposit in the applicable Debt Account an amount sufficient to pay the principal amount of, Premium (if any) on and accrued and unpaid interest (if any) payable in respect of such Notes (less any taxes required by law to be deducted or withheld).

• Except as otherwise provided in a Terms Schedule or Supplemental Indenture applicable to a Series of Notes, the Issuer will establish and maintain with the Trustee a Debt Account for each Series of Notes.

• The deposit of such amount to the applicable Debt Account will satisfy and discharge the liability of the Issuer for the Notes to which the deposit relates to the extent of the amount deposited (plus the amount of any taxes deducted or withheld) and such Notes will thereafter no longer be considered to be outstanding and the holders thereof will have no right with respect thereto other than the right to receive out of the amount so deposited the respective amounts to which the holders are entitled.

More Definitions of Debt Account

Debt Account means an account or accounts required to be established by the Trustees (and which shall be maintained by and subject to the control of the Trustees), for the residual benefit of the Company, for payments in respect of the Debentures pursuant to and in accordance with this Indenture;

Debt Account means the bank account attached to your existing mortgage, personal loan or credit card debt, that you authorise Wisr to pay your Rounds-Ups into;

Debt Account means account no. 00000000 of the Borrower maintained with Citibank.

Debt Account means an account or accounts required to be established by the Trust (and which shall be maintained by and subject to the control of the Trustee) for each series of Debentures pursuant to and in accordance with this Indenture;