Examples of Enron Party in a sentence
Subject to the provisions hereof, (a) Guarantor hereby irrevocably and unconditionally guarantees the timely payment when due of the obligations of Counterparty (the “Obligations”) to the Enron Parties under the Contracts, and (b) to the extent that Counterparty shall fail to pay any Obligations to any Enron Party, Guarantor shall promptly pay to such Enron Party the amount due.
If Counterparty fails or refuses to pay any Obligations, and any of the Enron Parties has elected to exercise its rights under this Guaranty, such Enron Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”).
A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Counterparty has failed to pay and an explanation of why such payment is due, with a specific statement that such Enron Party is calling upon Guarantor to pay under this Guaranty.
Each Enron Party and each Claim Holder hereby irrevocably designates and appoints United States Trust Company of New York to act as the Fiscal Agent hereunder and under the other Fiscal Agency Documents and authorizes the Fiscal Agent to exercise such powers and perform such duties as are expressly required to be exercised or performed by the Fiscal Agent hereunder and thereunder, together with such other powers as are reasonably incidental thereto.
This Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any amount received by the Fiscal Agent in respect of the Claims is rescinded or must otherwise be restored or returned by the Fiscal Agent upon the insolvency, bankruptcy, reorganization, liquidation of any Enron Party or any substantial part of any Enron Party's assets, or otherwise, all as though such payments had not been made.
Each Enron Party, each Claim Holder and the Fiscal Agent agree that Claims shall be Transferred only in accordance with the terms of this Section 5.03.
This Agreement is for the sole benefit of the Claim Holders, all indemnified persons hereunder and each of their respective successors and assigns, and is not for the benefit of any Enron Party or any other Person.
The Fiscal Agent, each Claim Holder and each Enron Party shall deem and treat the Person in whose name any Claim is registered in the Claims Register as the absolute owner of such Claim for the purpose of receiving payments thereon and for all other purposes, and none of the Fiscal Agent, any Claim Holder or any Enron Party shall be affected by any notice to the contrary.
Notwithstanding anything in this Agreement to the contrary, each Claim Holder shall have the right to exercise its rights in respect of the Claims held by it (including, without limitation, to vote its Claims in any bankruptcy proceeding of any Enron Party) in its sole discretion, provided that all amounts payable to such Claim Holder by the Enron Parties in respect of its Claims shall be made to the Enron/Citibank Account for application pursuant to and in accordance with this Agreement.
Upon appropriate written authorization from a unit member, the District shall deduct from the salary of that unit member and make appropriate remittance for Association dues.