Common use of Deposit of Prepayment Price Clause in Contracts

Deposit of Prepayment Price. On the Prepayment Date, the Owner Trustee shall, to the extent an amount equal to the Prepayment Price shall not then be held in cash by the Indenture Trustee in immediately available funds and deposited for the purpose, pay to the Indenture Trustee an amount equal to the difference between (a) the amount then so held and (b) the Prepayment Price. If there shall so be on deposit and/or deposited the applicable Prepayment Price on or prior to a Prepayment Date, interest shall cease to accrue in respect of all the Outstanding Equipment Notes on and after such Prepayment Date.

Appears in 2 contracts

Samples: Note Purchase Agreement (Midway Airlines Corp), Trust Indenture and Security Agreement (Midway Airlines Corp)

AutoNDA by SimpleDocs

Deposit of Prepayment Price. On the Prepayment Date, the --------------------------- Owner Trustee shall, to the extent an amount equal to the Prepayment Price shall not then be held in cash by the Indenture Trustee in immediately available funds and deposited for the purpose, pay to the Indenture Trustee an amount equal to the difference between (a) the amount then so held and (b) the Prepayment Price. If there shall so be on deposit and/or deposited the applicable Prepayment Price on or prior to a Prepayment Date, interest shall cease to accrue in respect of all the Outstanding Equipment Notes on and after such Prepayment Date.

Appears in 2 contracts

Samples: Trust Indenture and Security Agreement (Midway Airlines Corp), Note Purchase Agreement (Midway Airlines Corp)

Deposit of Prepayment Price. On the Prepayment Date, --------------------------- the Owner Trustee Company shall, to the extent an amount equal to the Prepayment Price Price, as the case may be, shall not then be held in cash by the Indenture Trustee in immediately available funds and deposited for the purpose, pay to the Indenture Trustee an amount equal to the difference between (a) the amount then so held and (b) the Prepayment Price. If there shall so be on deposit and/or deposited the applicable Prepayment Price on or prior to a Prepayment Date, interest shall cease to accrue in respect of all the Outstanding Equipment Notes on and after such Prepayment Date.

Appears in 1 contract

Samples: Note Purchase Agreement (Midway Airlines Corp)

AutoNDA by SimpleDocs

Deposit of Prepayment Price. On the Prepayment Date, the Owner Trustee Company shall, to the extent an amount equal to the Prepayment Price Price, as the case may be, shall not then be held in cash by the Indenture Trustee in immediately available funds and deposited for the purpose, pay to the Indenture Trustee an amount equal to the difference between (a) the amount then so held and (b) the Prepayment Price. If there shall so be on deposit and/or deposited the applicable Prepayment Price on or prior to a Prepayment Date, interest shall cease to accrue in respect of all the Outstanding Equipment Notes on and after such Prepayment Date.

Appears in 1 contract

Samples: Note Purchase Agreement (Midway Airlines Corp)

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