Partial Defeasance. Upon IRSA PC’s exercise of the option provided in Section 11.1 to have this Section 11.3 applied to all the Outstanding Securities of any Series denominated in U.S. dollars and having a fixed rate of interest, except as otherwise may be provided pursuant to the terms of the Securities established pursuant to Section 2.3: IRSA PC shall be released from its obligations under Sections 3.14 and 3.15 and the occurrence of any event with respect to such Series of Securities specified in Section 4.1(b) shall not be deemed an Event of Default (but only insofar as such event relates to the obligations under Sections 3.14 and 3.15 from which IRSA PC has been expressly released pursuant to Section 11.3(i)), in each case, on and after the date the conditions set forth in Section 11.4 are satisfied with respect to such Series of Securities (hereinafter, “partial defeasance”). For this purpose, partial defeasance means that IRSA PC may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such paragraph to the extent specified above, whether directly or indirectly by reason of any reference elsewhere herein or in the Securities to any such paragraph or by reason of any reference in any such paragraph to any other provision herein or in the Securities of such Series or in any other document, but the remainder of IRSA PC’s obligations shall be unaffected thereby.
Appears in 2 contracts
Samples: Indenture (Irsa Propiedades Comerciales S.A.), Indenture (Irsa Investments & Representations Inc)
Partial Defeasance. Upon IRSA PCIRSA’s exercise of the option provided in Section Section 11.1 to have this Section Section 11.3 applied to all the Outstanding Securities of any Series denominated in U.S. dollars and having a fixed rate of interest, except as otherwise may be provided pursuant to the terms of the Securities established pursuant to Section Section 2.3: (i) IRSA PC shall be released from its obligations under Sections 3.14 3.14 and 3.15 3.15 and (ii) the occurrence of any event with respect to such Series of Securities specified in Section Section 4.1(b) shall not be deemed an Event of Default (but only insofar as such event relates to the obligations under Sections 3.14 3.14 and 3.15 3.15 from which IRSA PC has been expressly released pursuant to Section Section 11.3(i)), in each case, on and after the date the conditions set forth in Section Section 11.4 are satisfied with respect to such Series of Securities (hereinafter, “partial defeasance”). For this purpose, partial defeasance means that IRSA PC may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such paragraph to the extent specified above, whether directly or indirectly by reason of any reference elsewhere herein or in the Securities to any such paragraph or by reason of any reference in any such paragraph to any other provision herein or in the Securities of such Series or in any other document, but the remainder of IRSA PCIRSA’s obligations shall be unaffected thereby.
Appears in 2 contracts
Samples: Indenture (Irsa Investments & Representations Inc), Indenture (Irsa Investments & Representations Inc)
Partial Defeasance. Upon IRSA PC’s exercise of the option provided in Section Section 11.1 to have this Section Section 11.3 applied to all the Outstanding Securities of any Series denominated in U.S. dollars and having a fixed rate of interest, except as otherwise may be provided pursuant to the terms of the Securities established pursuant to Section Section 2.3: IRSA PC shall be released from its obligations under Sections 3.14 3.14 and 3.15 3.15 and the occurrence of any event with respect to such Series of Securities specified in Section Section 4.1(b) shall not be deemed an Event of Default (but only insofar as such event relates to the obligations under Sections 3.14 3.14 and 3.15 3.15 from which IRSA PC has been expressly released pursuant to Section Section 11.3(i)), in each case, on and after the date the conditions set forth in Section Section 11.4 are satisfied with respect to such Series of Securities (hereinafter, “partial defeasance”). For this purpose, partial defeasance means that IRSA PC may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such paragraph to the extent specified above, whether directly or indirectly by reason of any reference elsewhere herein or in the Securities to any such paragraph or by reason of any reference in any such paragraph to any other provision herein or in the Securities of such Series or in any other document, but the remainder of IRSA PC’s obligations shall be unaffected thereby.
Appears in 2 contracts
Samples: Indenture (Irsa Propiedades Comerciales S.A.), Indenture (Irsa Propiedades Comerciales S.A.)
Partial Defeasance. Upon IRSA PCIRSA’s exercise of the option provided in Section Section 11.1 to have this Section Section 11.3 applied to all the Outstanding Securities of any Series denominated in U.S. dollars and having a fixed rate of interest, except as otherwise may be provided pursuant to the terms of the Securities established pursuant to Section Section 2.3: (i) IRSA PC shall be released from its obligations under Sections 3.14 3.14 and 3.15 3.15 and (ii) the occurrence of any event with respect to such Series of Securities specified in Section Section 4.1(b) shall not be deemed an Event of Default (but only insofar as such event relates to the obligations under Sections 3.14 3.14 and 3.15 3.15 from which IRSA PC has been expressly released pursuant to Section Section 11.3(i)), in each case, on and after the date the conditions set forth in Section Section 11.4 are satisfied with respect to such Series of Securities (hereinafter, “partial defeasance”). For this purpose, partial defeasance means that IRSA PC may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such paragraph to the extent specified above, whether directly or indirectly by reason of any reference 11924629 elsewhere herein or in the Securities to any such paragraph or by reason of any reference in any such paragraph to any other provision herein or in the Securities of such Series or in any other document, but the remainder of IRSA PCIRSA’s obligations shall be unaffected thereby.
Appears in 1 contract
Samples: Indenture (Cresud Inc)
Partial Defeasance. Upon IRSA PCAPSA’s exercise of the option provided in Section Section 11.1 to have this Section Section 11.3 applied to all the Outstanding Securities of any Series denominated in U.S. dollars and having a fixed rate of interest, except as otherwise may be provided pursuant to the terms of the Securities established pursuant to Section Section 2.3: IRSA PC (i) APSA shall be released from its obligations under Sections 3.14 3.14 and 3.15 3.15 and (ii) the occurrence of any event with respect to such Series of Securities specified in Section Section 4.1(b) shall not be deemed an Event of Default (but only insofar as such event relates to the obligations under Sections 3.14 3.14 and 3.15 3.15 from which IRSA PC APSA has been expressly released pursuant to Section Section 11.3(i)), in each case, on and after the date the conditions set forth in Section Section 11.4 are satisfied with respect to such Series of Securities (hereinafter, “partial defeasance”). For this purpose, partial defeasance means that IRSA PC APSA may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such paragraph to the extent specified above, whether directly or indirectly by reason of any reference elsewhere herein or in the Securities to any such paragraph or by reason of any reference in any such paragraph to any other provision herein or in the Securities of such Series or in any other document, but the remainder of IRSA PCAPSA’s obligations shall be unaffected thereby.
Appears in 1 contract
Samples: Alto Palermo Sa Apsa
Partial Defeasance. Upon IRSA PCthe Bank’s exercise of the option provided in Section Section 11.1 to have this Section Section 11.3 applied to all the Outstanding Securities of any Series denominated in U.S. dollars and having a fixed rate of interest, except as otherwise may be provided pursuant to the terms of the Securities established pursuant to Section Section 2.3: IRSA PC (i) the Bank shall be released from its obligations under Sections 3.14 3.14 and 3.15 3.15 and (ii) the occurrence of any event with respect to such Series of Securities specified in Section Section 4.1(b) shall not be deemed an Event of Default (but only insofar as such event relates to the obligations under Sections 3.14 3.14 and 3.15 3.15 from which IRSA PC the Bank has been expressly released pursuant to Section Section 11.3(i)), in each case, on and after the date the conditions set forth in Section Section 11.4 are satisfied with respect to such Series of Securities (hereinafter, “partial defeasance”). For this purpose, partial defeasance means that IRSA PC the Bank may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such paragraph to the extent specified above, whether directly or indirectly by reason of any reference elsewhere herein or in the Securities to any such paragraph or by reason of any reference in any such paragraph to any other provision herein or in the Securities of such Series or in any other document, but the remainder of IRSA PCthe Bank’s obligations shall be unaffected thereby.
Appears in 1 contract
Samples: Indenture (Macro Bank Inc.)
