Purchase of Obligations Sample Clauses

Purchase of Obligations. The Trustee, upon the written request of a Corporation Representative, shall purchase Obligations as specified by the Corporation Representative in the open market at a price not exceeding the price specified by such Corporation Representative. Such purchase of Obligations shall be made with funds available under this Master Trust Agreement or any other lawfully available funds of the Corporation. Upon purchase by the Trustee, such Obligations shall be treated as delivered for cancellation pursuant to applicable provisions of the Supplemental Agreement related to such Obligations. Nothing in this Master Trust Agreement shall prevent the Corporation from purchasing, or causing the purchase of, Obligations in the open market without the involvement of the Trustee and delivering such Obligations to the Trustee for cancellation. Obligations purchased pursuant to this Section that are subject to a mandatory sinking fund redemption schedule under the applicable provisions of the Supplemental Agreement related to such Obligations may be credited against future mandatory sinking fund redemption payments as directed by a Corporation Representative.
Sample 1Sample 2
AutoNDA by SimpleDocs
Purchase of Obligations. Bank will furnish Merchant a written statement for each Customer listing an identification number and dollar limit per Customer. All Obligations purchased by Bank must be evidenced by separate invoices with payment terms equal to or less than 90 days (unless otherwise approved by Bank) which reflect Bank’s name and remittance address. Except as provided in Section 7 of this Agreement (Electronic Transmission), within seven (7) days after each sale of goods or services to a Customer, Merchant will deliver or mail the invoices evidencing or constituting the Obligations to Bank, (or to any of Bank's correspondent banks, designated by Bank, which maintains Merchant's checking account), together with Merchant's recap of the total amount of the Obligations and all backup and supporting information deemed necessary by Bank, all which must be received prior to or at the time of a funding request. All Obligations must satisfy the Customer's requirements for payment and show the Customer's name, address and identification number. Bank will purchase Obligations by paying to Merchant 100% of the face amounts of the invoices then due with respect to such Obligations, less credits, returns, reserves or discounts, if any. Bank will make such payments by crediting Merchant's checking account. Prior to funding, (i) Merchant shall notify all applicable Customers of the Bank’s purchase of the Obligations and shall instruct such Customers to remit payments directly to Bank, and Bank may itself at any time so notify and instruct such Customers and (ii) Bank shall be in receipt of an acknowledgment regarding redirection of payments to Bank from each such Customer. Bank shall be entitled to verify the invoices in its sole discretion.
Sample 1
Purchase of Obligations. Seller and any related persons (within the meaning of Section 147(a)(2) of the Code) shall not at any time, pursuant to any arrangement, formal or informal, purchase any Obligations in an amount related to the amount of Eligible Loans sold or to be sold by Seller pursuant to this Agreement.
Sample 1
Purchase of Obligations. Upon payment of the Purchase Price ADAC ----------------------- shall sell, assign and transfer the Obligations under Financed Contracts to DVI and grant DVI a security interest in the Financed Contract and in any interest that ADAC has in the Equipment. Should ADAC fail to do so, DVI is authorized to execute on behalf of ADAC any necessary assignment or endorsement of Obligations which have been omitted in any financing statements necessary to perfect its security interest in the Financed Contract or Equipment.
Sample 1
Purchase of Obligations 
Sample 1

Related to Purchase of Obligations

  • Release of Obligations If the Delivery Date has not occurred on or prior to the Cut-Off Date (including by reason of the Aircraft not being completed and delivered, the Owner Participant's failure to make the full amount of its Commitment available in accordance with the terms of Section 3.02 hereof and no transferee Owner Participant having been identified pursuant to Section 3.05(a) hereof), then, in such event, the Owner Trustee shall not purchase the Aircraft from AVSA, and subject to the last sentence of Section 3.05(a) hereof the parties to the Operative Agreements shall have no further obligations or liabilities under any of said Operative Agreements with respect to the Aircraft, including the obligation of the Owner Participant to participate in the payment of the Purchase Price, and such documents shall terminate and have no further force or effect with respect to the Aircraft; provided, however, that if the last sentence of Section 3.05(a) hereof does not apply the Lessee shall provide, no later than the Cut-Off Date, notice of prepayment to the Indenture Trustee and the Certificates shall be prepaid on the 15th day following the Cut-Off Date as provided in Section 6.02(a)(vi) of the Original Indenture and Section 17.02(c) hereof and provided further, that (i) the Lessee's obligation to pay any Transaction Costs as provided in Section 3.04 hereof (to the extent such section is applicable) and to indemnify such parties to the extent provided in such documents, shall not be diminished or modified in any respect and (ii) the obligations of the Owner Trustee, the Indenture Trustee and the Lessee to return funds and pay interest, costs, expenses and other amounts thereon or in respect thereof as provided in Section 3.02 hereof shall continue.

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

  • Fulfillment of Obligations Any obligation of any party to any other party under this Agreement, which obligation is performed, satisfied or fulfilled by an Affiliate of such party, shall be deemed to have been performed, satisfied or fulfilled by such party.

  • No Release of Obligations Neither the Mortgagor, any Guarantor nor any other person hereafter obligated for payment of all or any part of the Secured Obligations shall be relieved of such obligation by reason of: (a) the failure of the Trustee to comply with any request of the Mortgagor, or any Guarantor or any other Person so obligated to foreclose the Lien of this Mortgage or to enforce any provision hereunder or under the Credit Agreement; (b) the release, regardless of consideration, of the Mortgaged Property or any portion thereof or interest therein or the addition of any other property to the Mortgaged Property; (c) any agreement or stipulation between any subsequent owner of the Mortgaged Property and the Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Mortgage without first having obtained the consent of, given notice to or paid any consideration to the Mortgagor, any Guarantor or such other Person, and in such event the Mortgagor, Guarantor and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by the Mortgagee; or (d) by any other act or occurrence save and except if the Secured Obligations are paid as provided in Section 12.18(a) of the Credit Agreement.

  • Reaffirmation of Obligations Each Loan Party (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge such Loan Party’s obligations under the Loan Documents.

  • Conditions of Obligations Your obligations hereunder shall be subject to the accuracy of the representations and warranties on the part of the Company contained in Section 1 hereof, the accuracy of the statements of the Company made pursuant to the provisions hereof, to the performance by the Company of its covenants, agreements and obligations contained in Sections 3 and 5 hereof, and to the following additional conditions:

  • Affirmation of Obligations Each of the Credit Parties hereby acknowledges, agrees and affirms (a) its obligations under the Credit Agreement and the other Loan Documents, including, without limitation, its guaranty obligations thereunder, (b) that such guaranty shall apply to the Obligations in accordance with the terms thereof, (c) the grant of the security interest in all of its assets pursuant to the Loan Documents and (d) that such liens and security interests created and granted are valid and continuing and secure the Obligations in accordance with the terms thereof.

  • Payment of Obligation 41 10.2 Covenants......................................................................... 41

  • Assumption of Obligations Any buyer or transferee of Lessor's interest in this Lease shall be deemed to have assumed Lessor's obligation hereunder. Each Broker shall be a third party beneficiary of the provisions of Paragraphs 1.10, 15, 22 and 31. If Lessor fails to pay to a Broker any amounts due as and for commissions pertaining to this Lease when due, then such amounts shall accrue Interest. In addition, if Lessor fails to pay any amounts to Lessee's Broker when due, Lessee's Broker may send written notice to Lessor and Lessee of such failure and if Lessor fails to pay such amounts within ten (10) days after said notice, Lessee shall pay said monies to its Broker and offset such amounts against Rent. In addition, Lessee's Broker shall be deemed to be a third party beneficiary of any commission agreement entered into by and/or between Lessor and Lessor's Broker.

  • Nature of Obligations Nothing contained herein shall create or require the Bank to create a trust of any kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Bank hereunder, such right shall be no greater than the right of any unsecured general creditor of the Bank.

Time is Money Join Law Insider Premium to draft better contracts faster.