Advances by Trustee. If the Company shall fail to perform any of its covenants in this Indenture, the Trustee may, at any time and from time to time after notice to the Company, make advances, to effect performance of any such covenant on behalf of the Company; and all moneys so used or advanced by the Trustee, together with interest at the "prime rate" as quoted by and in effect from time to time by the Trustee plus one percent (1%) per annum (such rate to be recomputed, and as so recomputed to take effect, as of the day immediately following the date on which the Trustee publicly announces any change in its "prime rate"), shall be repaid by the Company upon demand.
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Samples: Indenture (Old Dominion Electric Cooperative), Indenture (Old Dominion Electric Cooperative), Indenture (Old Dominion Electric Cooperative)
Advances by Trustee. If the Company shall fail to perform any of its covenants in this Indenture, the Trustee may, at any time and from time to time time-to-time, after notice to the Company, make advances, advances to effect performance of any such covenant on behalf of the Company; and all moneys so used or advanced by the Trustee, together with interest at the "prime rate" as quoted by and in effect from time to time by the Trustee plus one percent (1%) per annum (such rate to be recomputed, and as so recomputed to take effect, as of the day immediately following the date on which the Trustee publicly announces any change in its "prime rate"), shall be repaid by the Company upon demand. Nothing contained herein shall be deemed to obligate the Trustee to advance its own monies for any purpose.
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