Extinguishment of Obligations Sample Clauses

Extinguishment of Obligations. Notwithstanding anything to the contrary in this Indenture or any Indenture Supplement, all obligations of the Issuer hereunder or under any Indenture Supplement shall be deemed to be extinguished in the event that, at any time, the Issuer, the Guarantor and the Asset Entities have no assets (which shall include claims that may be asserted by the Issuer, the Guarantor and the Asset Entities with respect to contractual obligations of third parties to the Issuer, the Guarantor and the Asset Entities but which shall not include the proceeds of the issue of their shares in respect of the Closing Date). No further claims may be brought against any of the Issuer’s directors or officers or against their shareholders or members, as the case may be, for any such obligations, except in the case of fraud or actions taken in bad faith by such Persons.
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Extinguishment of Obligations. Notwithstanding anything to the contrary in this Reinsurance Agreement, all obligations of and any claims against the Reinsurer hereunder shall be extinguished and shall not thereafter revive in the event that, at any time, the Collateral is exhausted (and there are no claims that may be asserted by the Reinsurer with respect to contractual obligations of third parties to the Reinsurer). The Ceding Insurer shall have no further claim thereafter against the Reinsurer, its directors, officers or shareholders for any shortfall in the Collateral. The Ceding Insurer shall only have recourse to the Collateral for satisfaction of the Reinsurer's obligations hereunder. The proceeds from the issuance of the Reinsurer's ordinary shares (US$5,000), an additional amount of US$1,500 and any proceeds earned thereon shall not form part of the assets available to satisfy the Reinsurer's obligations. The provisions of this Section 18.4 shall survive the termination of this Reinsurance Agreement.
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Extinguishment of Obligations. Notwithstanding anything to the contrary in this Agreement, all obligations of the Guarantor hereunder shall be deemed to be extinguished in the event that, at any time, the Issuer, the Guarantor and the Asset Entities have no assets (which shall include claims that may be asserted by the Issuer, the Guarantor and the Asset Entities with respect to contractual obligations of third parties to the Issuer, the Guarantor and the Asset Entities). To the fullest extent permitted by applicable law, no further claims may be brought against any of the Guarantor’s directors or officers or against their shareholders, partners or members, as the case may be, for any such obligations.
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Extinguishment of Obligations. Notwithstanding anything to the contrary herein, all obligations of and all claims against the Reinsurer hereunder shall be limited recourse obligations of the Reinsurer payable solely from the Collateral and any claims that may be asserted by the Reinsurer with respect to contractual obligations of third parties to the Reinsurer shall be extinguished and shall not thereafter revive in the event that, at any time, the Collateral and such third party claims are exhausted. The Cedant, by entering into this Agreement, agrees that no claim may be brought against the Reinsurer, its directors, officers or shareholders for any shortfall in the Reinsurer’s assets. The Cedant shall only have recourse to the Reinsurer’s assets for satisfaction of the Reinsurer’s obligations hereunder. The proceeds of issuance of the Reinsurer’s ordinary shares (US$5,000), an amount equal to US$1,500 entered into the same account as the proceeds of the issuance of the Reinsurer’s ordinary shares, and any proceeds earned thereon, shall not form part of the assets available to satisfy the Reinsurer’s obligations. The provisions of this paragraph shall survive the termination of this Agreement for any reason whatsoever.
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Extinguishment of Obligations. Notwithstanding anything to the contrary in this Agreement, all obligations of the Guarantor hereunder shall be deemed to be extinguished in the event that, at any time, the Issuer, the Co-Issuer, the Guarantor, the Co-Guarantor and the Asset Entities have no assets (which shall include claims that may be asserted by the Issuer, the Co-Issuer, the Guarantor, the Co-Guarantor and the Asset Entities with respect to contractual obligations of third parties to the Issuer, the Co-Issuer, the Guarantor, the Co-Guarantor and the Asset Entities). No further claims may be brought against any of the Guarantor’s directors or officers or against their shareholders or members, as the case may be, for any such obligations, except in the case of fraud or actions taken in bad faith by such Persons.
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Extinguishment of Obligations. Notwithstanding anything to the contrary in this Base Indenture or any Series Supplement, all obligations of the Obligors hereunder or under any Series Supplement shall be deemed to be extinguished in the event that, at any time, the Issuer, the Guarantor and the Asset Entities have no assets (which shall include claims that may be asserted by the Issuer, the Guarantor and the Asset Entities with respect to contractual obligations of third parties to the Issuer, the Guarantor and the Asset Entities but which shall not include the proceeds of the issue of their Equity Interests). No further claims may be brought against any of the Obligors’ directors or officers or against their shareholders or members, as the case may be, for any such obligations, except in the case of fraud or actions taken in bad faith by such Persons.
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Extinguishment of Obligations. Each Senior Lender agrees to extinguish all obligations by the Company under the Agreement and Transaction Documents (the “Senior Debt Restructuring”), subject to the following conditions, which shall be satisfied by or before January 30, 2009 (the “Effective Date”):
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Extinguishment of Obligations. Notwithstanding anything to the contrary in this Indenture or any Indenture Supplement, all obligations of the Issuers and the Guarantor hereunder or under any Indenture Supplement shall be deemed to be extinguished in the event that, at any time, the Issuers and the Guarantor have no assets (which shall include claims that may be asserted by the Issuers and the Guarantor with respect to contractual obligations of third parties to the Issuers and the Guarantor). No further claims may be brought against any of the Issuers’ directors or officers or against their shareholders or members, as the case may be, for any such obligations, except in the case of fraud or actions taken in bad faith by such Persons.
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Extinguishment of Obligations. Notwithstanding anything to the contrary in this Base Indenture or any Indenture Supplement, all obligations of the Obligors hereunder or under any Indenture Supplement shall be deemed to be extinguished in the event that, at any time, the Co-Issuers, the Guarantors and the Asset Entities have no assets (which shall include claims that may be asserted by the Co-Issuers, the Guarantors and the Asset Entities with respect to contractual obligations of third parties to the Co-Issuers, the Guarantors and the 119 Asset Entities but which shall not include the proceeds of the issue of their Equity Interests in respect of the Series 2021-1 Closing Date). No further claims may be brought against any of the Obligors’ directors or officers or against their shareholders or members, as the case may be, for any such obligations, except in the case of fraud or actions taken in bad faith by such Persons.
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Related to Extinguishment of Obligations

  • Repayment of Obligations On or before the IPO Closing ------------------------ Date, each of the Stockholders shall repay the entire unpaid amount of all notes, advances and other payment obligations owed by such Stockholder to the Company.

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

  • Fulfilment of Obligations 1. The Parties shall take all necessary measures to ensure the achievement of the objectives of this Agreement and the fulfilment of their obligations under this Agreement.

  • Termination of Obligations Termination of this Agreement pursuant to Section 10.1 hereof shall terminate all obligations of the parties hereunder, except for the obligations under Article IX, Article X, and Sections 11.4, 11.7, 11.14, 11.15 and 11.16 hereof; provided, however, that termination pursuant to paragraphs (b) or (c) of Section 10.1 shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.

  • Fulfillment of Obligations Any obligation of any party to any other party under this Agreement, which obligation is performed, satisfied or fulfilled by an Affiliate of such party, shall be deemed to have been performed, satisfied or fulfilled by such party.

  • Reinstatement of Obligations Guarantor agrees that this Guaranty shall continue to be effective or be reinstated, as the case may be, with respect to any Obligations if at any time payment of any such Obligations is rescinded or otherwise must be restored by the Agent and/or the Lenders upon the bankruptcy or reorganization of the Borrower or any Guarantor or otherwise.

  • Satisfaction of Obligations The Borrower shall pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves with respect thereto have been provided on the books of the Borrower.

  • Conditions of Obligations Each Agent's obligations to purchase the Notes as principal and to solicit offers to purchase the Notes as agent of the Company and the obligation of any purchaser of Notes sold through an Agent as agent, will be subject at all times to the accuracy of the representations and warranties on the part of the Company herein and to the accuracy of the statements of the Company's officers made in any certificate furnished pursuant to the provisions hereof, to the performance and observance by the Company of all covenants and agreements herein contained on its part to be performed and observed and to the following additional conditions precedent:

  • Release of Obligations If the Delivery Date has not occurred on or prior to the Cut-Off Date (including by reason of the Aircraft not being completed and delivered, the Owner Participant's failure to make the full amount of its Commitment available in accordance with the terms of Section 3.02 hereof and no transferee Owner Participant having been identified pursuant to Section 3.05(a) hereof), then, in such event, the Owner Trustee shall not purchase the Aircraft from AVSA, and subject to the last sentence of Section 3.05(a) hereof the parties to the Operative Agreements shall have no further obligations or liabilities under any of said Operative Agreements with respect to the Aircraft, including the obligation of the Owner Participant to participate in the payment of the Purchase Price, and such documents shall terminate and have no further force or effect with respect to the Aircraft; provided, however, that if the last sentence of Section 3.05(a) hereof does not apply the Lessee shall provide, no later than the Cut-Off Date, notice of prepayment to the Indenture Trustee and the Certificates shall be prepaid on the 15th day following the Cut-Off Date as provided in Section 6.02(a)(vi) of the Original Indenture and Section 17.02(c) hereof and provided further, that (i) the Lessee's obligation to pay any Transaction Costs as provided in Section 3.04 hereof (to the extent such section is applicable) and to indemnify such parties to the extent provided in such documents, shall not be diminished or modified in any respect and (ii) the obligations of the Owner Trustee, the Indenture Trustee and the Lessee to return funds and pay interest, costs, expenses and other amounts thereon or in respect thereof as provided in Section 3.02 hereof shall continue.

  • Status of Obligations In the event that the Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Secured Obligations to constitute senior indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Administrative Agent and the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such Subordinated Indebtedness. Without limiting the foregoing, the Secured Obligations are hereby designated as “senior indebtedness” and as “designated senior indebtedness” and words of similar import under and in respect of any indenture or other agreement or instrument under which such Subordinated Indebtedness is outstanding and are further given all such other designations as shall be required under the terms of any such Subordinated Indebtedness in order that the Lenders may have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such Subordinated Indebtedness.

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