ASSUMPTION OF LESSOR NOTES Sample Clauses

ASSUMPTION OF LESSOR NOTES. (a) Upon the occurrence of an Assumption Event, the Facility Lessee may notify the Security Agent and the Lease Indenture Trustee of its intention to assume all of the Lessor Notes in whole (but not in part) pursuant to and in accordance with this Section 2.21. In the event of the occurrence of an Assumption Event and provided each of the conditions set forth below have been satisfied, all of the obligations and liabilities of the Owner Lessor under this Lease Indenture and each Lessor Note shall be assumed by the Facility Lessee and the Owner Lessor shall be released and discharged without further act or formality whatsoever from all obligations and liabilities under this Lease Indenture and each Lessor Note:
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ASSUMPTION OF LESSOR NOTES. (a) Upon the occurrence of (x) a Midwest Assumption Event, the Facility Lessee may notify, or (y) an Owner Participant Assumption Event, the Owner Participant may notify, in either case, the Lease Indenture Trustee of its intention to assume the Lessor Notes pursuant to and in accordance with this Section 2.12. Upon receipt by the Lease Indenture Trustee of such notice, notwithstanding anything herein or in any other Operative Document to the contrary, neither the Lease Indenture Trustee nor any Holder shall be entitled to exercise any remedy under Section 4.4 or 4.5 hereof or under Section 17.1 of the Facility Lease relating to the event giving rise to such assumption until the earlier to occur of (x) the date on which, pursuant to this Section 2.12, all of the Lessor Notes have been assumed by an Eligible Successor and (y) the date falling 30 days after the Lease Indenture Trustee's receipt of such notice; PROVIDED, that, if an Owner Participant Assumption Event of the type specified in clause (a) of the definition thereof shall have occurred and prior to the end of such 30-day period the Owner Participant shall have cured, pursuant to Section 4.3 hereof, the Lease Event of Default giving rise to such Owner Participant Assumption Event, then, solely for purposes of this Section 2.12, such Owner Participant Assumption Event shall be deemed to be continuing for a period not to exceed 90 days following the effective date of such cure so long as during such 90-day period no other Lease Indenture Event of Default shall occur and remain uncured; PROVIDED, FURTHER, that, notwithstanding anything to the contrary contained herein, such 90-day period and the 60-day period referred to clauses (vi) and (vii) below shall run concurrently and not consecutively. In the event of the occurrence of an Assumption Event and upon receipt by the Lease Indenture Trustee of the documents listed below, all the obligations and liabilities of the Owner Trust under this Indenture and each Lessor Note shall be assumed by an Eligible Successor and, in the case of a Midwest Assumption Event, the Owner Trust shall be released and discharged without further act or formality whatsoever from all obligations and liabilities under this Indenture and each Lessor Note:
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ASSUMPTION OF LESSOR NOTES. If an Eligible Successor shall assume the obligations of an Owner Trust under any Lessor Note pursuant to Section 2.12 of the applicable Lease Indenture, (i) if requested by the applicable Lease Indenture Trustee, the Pass-Through Trustee shall surrender the Lessor Notes issued pursuant to Section 2.12 of such Lease Indenture to the applicable Lease Indenture Trustee in exchange for new Lessor Notes of the same aggregate outstanding principal amount as the Lessor Notes so surrendered, bearing interest at the same rate, and having the same maturity and amortization schedule, and otherwise of similar
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ASSUMPTION OF LESSOR NOTES. 13 Section 2.13 Subsequent Lessor Notes...........................................................................16 Section 2.14 Payment of Expenses on Transfer...................................................................18 Section 2.15 Restrictions of Transfer Resulting from Federal Securities Laws; Legend...........................18 Section 2.16 Security for and Parity of Lessor Notes...........................................................19 Section 2.17 Acceptance of the Lease Indenture Trustee.........................................................19 Section 2.18 Taxes; Withholding................................................................................19
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ASSUMPTION OF LESSOR NOTES. If a Company or an Owner Participant (or an Affiliate), as the case may be, shall assume the obligations of an Owner Lessor under any Lessor Note pursuant to any Lease Indenture, the Pass Through Trustee shall, upon its receipt of written instructions from such Company, surrender the Lessor Notes issued pursuant to such Lease Indenture to the Lease Indenture Trustee in exchange for new Lessor Notes of the same aggregate outstanding principal amount as the Lessor Notes so surrendered, bearing interest at the same rate, and having the same maturity and amortization schedule, and otherwise of similar tenor, issued under such Lease Indenture and any new Lease Indenture entered into by such Company or such Owner Participant (or such Affiliate), as the case may be, and the Lease Indenture Trustee in connection with such assumption, and thereafter each reference to such Lessor Notes in this Pass Through Trust Agreement shall be deemed to include a reference to such new Lessor Notes.
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ASSUMPTION OF LESSOR NOTES. If the Company shall assume the -------------------------- obligations of an Owner Lessor under any Lessor Note pursuant to Section 2.12 of ------------ the applicable Lease Indenture, (i) if requested by the applicable Lease Indenture Trustee, the Pass Through Trustee shall surrender the Lessor Notes issued pursuant to Section 2.12 of such Lease Indenture to the applicable Lease ------------ Indenture Trustee in exchange for new PASS THROUGH TRUST AGREEMENT A ------------------------------ Lessor Notes of the same aggregate outstanding principal amount as the Lessor Notes so surrendered, bearing interest at the same rate, and having the same maturity and amortization schedule, and otherwise of similar tenor, issued under such Lease Indenture and any new Lease Indenture entered into by the Company and the applicable Lease Indenture Trustee in connection with such assumption, and (ii) thereafter each reference to such Lessor Notes in this Pass Through Trust Agreement shall be deemed to include a reference to such new Lessor Notes or the existing Lessor Notes as assumed by the Company.
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Related to ASSUMPTION OF LESSOR NOTES

  • Assumption of Agreement Employer shall require any Successor thereto, by agreement in form and substance reasonably satisfactory to Executive, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that Employer would be required to perform it if no such succession had taken place. Failure of Employer to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle Executive to compensation from Employer in the same amount and on the same terms as Executive would be entitled hereunder if Employer had terminated Executive’s employment Without Cause as described in Section 7, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination.

  • Assumption of Agreements Subject to the provisions of Section 4.8(b), with respect to agreements existing as of the Bank Closing Date which provide for the rendering of services by or to the Failed Bank, within ninety (90) days after the Bank Closing Date, the Assuming Institution shall give the Receiver written notice specifying whether it elects to assume or not to assume each such agreement. Except as may be otherwise provided in this Article IV, the Assuming Institution agrees to comply with the terms of each such agreement for a period commencing on the day after the Bank Closing Date and ending on: (i) in the case of an agreement that provides for the rendering of services by the Failed Bank, the date which is ninety (90) days after the Bank Closing Date, and (ii) in the case of an agreement that provides for the rendering of services to the Failed Bank, the date which is thirty (30) days after the Assuming Institution has given notice to the Receiver of its election not to assume such agreement; provided that the Receiver can reasonably make such service agreements available to the Assuming Institution. The Assuming Institution shall be deemed by the Receiver to have assumed agreements for which no notification is timely given. The Receiver agrees to assign, transfer, convey and deliver to the Assuming Institution all right, title and interest of the Receiver, if any, in and to agreements the Assuming Institution assumes hereunder. In the event the Assuming Institution elects not to accept an assignment of any lease (or sublease) or negotiate a new lease for leased Bank Premises under Section 4.6 and does not otherwise occupy such premises, the provisions of this Section 4.8(a) shall not apply to service agreements related to such premises. The Assuming Institution agrees, during the period it has the use or benefit of any such agreement, promptly to pay to the Receiver or to appropriate third parties at the direction of the Receiver all operating costs with respect thereto and to comply with all relevant terms of such agreement.

  • Assumption of Contracts The sale of the Assets is and will be made subject to the Contracts to which the Assets are presently subject. Buyer shall assume and be responsible for all obligations accruing under the Contracts after the Effective Time.

  • Assumption Agreement Seller shall have received from Buyer an Assumption Agreement, in substance and form satisfactory to Seller, under which Buyer shall have assumed the Assumed Liabilities.

  • Assignment and Assumption of Lease The Assignment and Assumption ---------------------------------- of Lease;

  • Assignment and Assumption of Leases Two (2) counterparts of the Assignment and Assumption of Leases, executed, acknowledged and sealed by Purchaser;

  • Assumption of Warrant Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Warrant Price shall be adjusted accordingly.

  • Successors, Assumption of Contract This Agreement is personal to the Executive and may not be assigned by the Executive without the written consent of the Company. However, to the extent that rights or benefits under this Agreement otherwise survive the Executive’s death, the Executive’s heirs and estate shall succeed to such rights and benefits pursuant to the Executive’s will or the laws of descent and distribution; provided that the Executive shall have the right at any time and from time to time, by notice delivered to the Company, to designate or to change the beneficiary or beneficiaries with respect to such benefits. This Agreement shall be binding upon and inure to the benefit of the Company and any successor of the Company, subject to the following:

  • Recordation of Lease Tenant shall not record or file this Lease (or any memorandum hereof) in the public records of any county or state.

  • Merger or Consolidation of, or Assumption of the Obligations of, Depositor Any Person (i) into which the Depositor shall be merged or consolidated, (ii) resulting from any merger, conversion or consolidation to which the Depositor shall be a party or (iii) that shall succeed by purchase and assumption to all or substantially all of the business of the Depositor, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Depositor under this Agreement, shall be the successor to the Depositor under this Agreement without the execution or filing of any other document or any further act on the part of any of the parties to this Agreement; provided, however, that (x) the Depositor shall have delivered to the Owner Trustee and the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel each stating that such merger, conversion, consolidation or succession and such agreement of assumption comply with this Section 6.3, (y) the Depositor shall have delivered to the Owner Trustee and the Indenture Trustee an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been authorized and filed that are necessary to fully preserve and protect the interest of the Trust and the Indenture Trustee, respectively, in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) stating that, in the opinion of such counsel, no such action shall be necessary to fully preserve and protect such interest and (z) the Rating Agency Condition shall have been satisfied. Notwithstanding anything to the contrary contained herein, the execution of the foregoing agreement of assumption and compliance with clauses (x), (y) and (z) above shall be conditions to the consummation of the transactions referred to in clauses (i), (ii) and (iii) above.

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