INITIAL EQUIPMENT NOTES Sample Clauses

INITIAL EQUIPMENT NOTES. The Owner shall have tendered each of the Series G-1 Equipment Note to be issued to the Class G-1 Pass Through Trustee, and the Series B-1 Equipment Note to be issued to the Class B-1 Pass Through Trustee, to the Mortgagee for authentication and the Mortgagee shall have authenticated such Series G-1 Equipment Note and Series B-1 Equipment Note to be issued to such Class G-1 Pass Through Trustee and Class B-1 Pass Through Trustee, respectively, and shall have tendered the Series G-1 Equipment Note and Series B-1 Equipment Note to the Subordination Agent on behalf of each such Class G-1 Pass Through Trustee and Class B-1 Pass Through Trustee, against receipt of the loan proceeds, in accordance with Section 2.1.