Payment of Principal or Interest Clause Samples

Payment of Principal or Interest. The Borrower shall have failed to make a payment of any principal or interest on any Loan Certificate after the same shall have become due;

Payment of Principal or Interest. The Borrower shall have -------------------------------- failed to make a payment of any principal on any Loan Certificate after the same shall have become due; or the Borrower shall have failed to make a payment of interest on any Loan Certificate within five (5) Business Days after the same shall have become due; or

Payment of Principal or Interest. Borrower fails to make any payment of principal or interest on any Note executed in connection with this Loan Agreement when the same shall become due, either by the terms thereof or as otherwise provided herein.

Payment of Principal or Interest. (1) Paying Agent To Hold Money in Trust. Prior to 11:00 a.m. (New York City time) on any applicable payment date, the Company shall deposit with the Paying Agent (or if an Issuer or a Subsidiary of any Issuer is acting as Paying Agent, segregate and hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay semiannual or contingent interest, if any, when due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal or interest on the CZARS and shall notify the Trustee of any default by the Company in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by the Paying Agent. Upon complying with this Section, the Paying Agent shall have no further liability for the money delivered to the Trustee.

Payment of Principal or Interest. Failure by Borrower to pay any principal or interest on the Obligations when due, whether at maturity or by reason of acceleration pursuant to the terms of this Agreement or by notice of intention to prepay, or by required prepayment or failure to pay any other liabilities or make any other payment, fee or charge provided for herein or in any Ancillary Document when due;

Payment of Principal or Interest