Common use of Discharge Prior to Maturity Clause in Contracts

Discharge Prior to Maturity. If the Company irrevocably deposits with the Trustee U.S. Legal Tender sufficient to pay the principal of and interest on the Securities to maturity, or if all the outstanding Securities have been delivered to the Trustee for cancellation, and in either case if the Company complies with the other provisions of the Indenture relating thereto, the Company will be discharged from certain provisions of the Indenture and the Securities, excluding its obligation to pay the principal of and interest on the Securities.

Appears in 4 contracts

Samples: Tia Indenture (Toyota Auto Lease Trust 1998-B), Toyota Motor Credit Corp, Toyota Motor Credit Corp

AutoNDA by SimpleDocs

Discharge Prior to Maturity. If the Company irrevocably deposits with the Trustee U.S. Legal Tender or, in certain cases, U.S. Government Obligations sufficient to pay the principal of and interest on the Securities to maturity, or if all the outstanding Securities have been delivered to the Trustee for cancellation, and in either case if the Company complies with the other provisions of the Indenture relating thereto, the Company will be discharged from certain provisions of the Indenture and the Securities, excluding its obligation to pay the principal of and interest on the Securities.

Appears in 1 contract

Samples: Tia Indenture (Toyota Lease Trust)

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