Common use of Payment of Debentures Clause in Contracts

Payment of Debentures. The Company shall pay the principal of and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 6 contracts

Samples: Indenture (Intervest Mortgage Corp), Indenture (Intervest Corporation of New York), Article Eight (Intervest Corporation of New York)

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Payment of Debentures. The Company shall pay the ----------------------- principal of and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 6 contracts

Samples: Indenture (Intervest Bancshares Corp), Indenture (Intervest Corporation of New York), Indenture (Intervest Mortgage Corp)

Payment of Debentures. The Company shall pay the principal --------------------- of and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 3 contracts

Samples: Indenture (Intervest Mortgage Corp), Indenture (Intervest Mortgage Corp), Indenture (Intervest Mortgage Corp)

Payment of Debentures. The Company shall pay the principal of --------------------- and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 2 contracts

Samples: Indenture (Intervest Corporation of New York), Indenture (Intervest Mortgage Corp)

Payment of Debentures. The Company shall pay the principal of ---------------------- and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 1 contract

Samples: Indenture (Intervest Mortgage Corp)

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Payment of Debentures. The Company shall pay the --------------------- principal of and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 1 contract

Samples: Indenture (Intervest Corporation of New York)

Payment of Debentures. The Company shall pay the principal of -------------------- and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 1 contract

Samples: Indenture (Intervest Corporation of New York)

Payment of Debentures. The Company shall pay the principal ---------------------- of and interest on the Debentures on the dates and in the manner provided in the Debentures. An installment of principal or interest shall be considered paid on the date due if the Paying Agent (other than the Company or a Subsidiary) holds on that date money designated for and sufficient to pay the installment. The Company shall deposit with the Paying Agent immediately available funds sufficient to pay the principal of or interest on the Debentures at least one Business Day prior to the dates provided in the Debentures. The Company shall pay interest on overdue principal and interest on overdue installments of interest, to the extent lawful, at the rate per annum borne by the Debentures.

Appears in 1 contract

Samples: Indenture (Intervest Mortgage Corp)

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