Right of Payment. The Notes shall be senior secured obligations of the Issuer and each Guaranty shall be the senior secured obligation of the applicable Guarantor. The Notes and the Existing Senior Secured Notes shall rank pari passu in right of payment, and the Guaranty of the Notes by each Guarantor shall rank pari passu with the "Guaranty" (as such term is defined in the Purchase Agreement) of the Existing Senior Secured Notes by such Guarantor.
Right of Payment. If Consultant becomes unable to perform services pursuant to this Agreement by reason of illness, incapacity or death, compensation shall cease upon the happening of the event. Otherwise, the shares rendered as payment are deemed to be earned by the Consultant and forthcoming by the Corporation immediately upon the execution of this Agreement. Further, the Corporation acknowledges and waives all rights to contest the issuance of shares at any point after the execution of this Agreement by the parties hereto.
Right of Payment. The Notes shall be senior secured obligations of the Issuer and the Guaranty shall be (i) the senior secured obligation of the Senior Guarantors and (ii) the subordinated secured obligations of the Subordinated Guarantors.
Right of Payment. A CLFC Common Shareholder who complies with the provisions of this Agreement shall, in addition to any other rights it may have, have the right, on or after the Transaction Date, to be paid by Lifeco in cash an amount equal to the fair value of its CLFC Common Shares. Such fair value shall be determined as of the close of business on the business day before the Transaction Resolution was adopted.
Right of Payment. The Collateral Trustee's right to payment of the Obligations arising in any way (including, but not limited to, under a negotiable instrument or another contract with the Chargor) does not merge with the Chargor’s undertaking to pay the Obligations under this deed.
Right of Payment. The Trustees have the right to pay benefits to any other organization or person, as needed, to carry out the provisions of the Plan. The Trustees may pay for or provide services or equipment that they deem to be Medically Necessary, but not otherwise covered by the Plan, if in their sole discretion, they conclude that paying for or providing such services or equipment would be financially beneficial to the Plan. This action is not deemed to be an amendment to the Plan nor does it establish a precedent, nor will it obligate such actions in the case of any subsequent claim. The Trustees may, but are not required to, delegate to their administrative manager the authority to authorize such payments on a uniform application.
Right of Payment. Notwithstanding any limitations on the ability of Bondholders to direct the actions of the Trustee hereunder, and notwithstanding any other provisions of this Guaranty, the holder of any Bond shall have the right, which is absolute and unconditional, to receive payment of the principal of, premium (if any) and interest on such Bond on the respective maturity date expressed in such Bond and such right shall not be impaired without the consent of such Holder.
