Common use of Payment on Notes Clause in Contracts

Payment on Notes. (a) The principal of, the Premium, if any, interest on, and any other amounts payable with respect to, the Notes shall be payable at the principal office of Indenture Trustee, in lawful money of the United States of America without surrender or presentation of such Note and without any notation being made thereon. The Holder (or the Person for whom such Holder is a nominee) will, before selling, transferring or otherwise disposing of such Note, present such Note to Indenture Trustee for transfer and notation as provided in Section 2.4. Any payment or prepayment of amounts due on the Notes in accordance with the terms thereof and hereof which is due on a date that is not a Business Day shall be payable, at the election of Nonaffiliated Partner Trustee, on the next following Business Day without penalty or reduction of, or increase in, the amount of interest that is payable thereon. (b) Notwithstanding Section 2.8(a), if any Note is held by the original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, Indenture Trustee shall, if requested in writing by such Holder, pay interest on such Note and pay or prepay the principal thereof and the Premium, if any, thereon and shall pay all other amounts due with respect to such Note, by check, duly mailed, by first-class mail, postage prepaid, or delivered to such Holder at its address appearing on the Register. Upon written notice from any Holder that is an original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, which notice shall be given not less than 30 days before the payment or prepayment of the Notes (and Section 2.16 shall constitute such written notice and wire transfer instructions until otherwise designated in the case of the Note Purchasers), Indenture Trustee will pay interest on such Note and pay or prepay the principal thereof and the Premium, if any thereon, by wire transfer of immediately available funds to such institution in the continental United States as such Holder may designate in such notice, such wire transfers to be made on each date on which such payment or prepayment is due if, and only so long as, such institution has facilities for the receipt of a wire transfer. Indenture Trustee will transmit any such wire transfer from its offices not later than 1:00 p.m. (New York time) on each date on which payment or prepayment is due if, and only so long as, available funds therefor have been received by Indenture Trustee by 11:00 a.m. (New York time) on such date or, if Indenture Trustee has not received such available funds, Indenture Trustee will transmit such wire transfer promptly upon receipt of such available funds. (c) A Holder shall have no further interest in, or other right with respect to, the Indenture Estate when and if the principal amount of, Premium, if any, and interest on all Notes held by such Holder and all other sums payable to such Holder and secured hereunder are paid in full.

Appears in 1 contract

Sources: Trust Indenture and Security Agreement (Bj Services Co)

Payment on Notes. The Company will pay all sums becoming due on each Note (aincluding redemptions, whether for principal or interest) The by check mailed to the holder of such Note at the registered address of such holder as set forth in the register kept by the Company at its principal ofoffice as provided in Section 8.1, without the presentation or surrender of such Note or the making of any notation thereon, except that any Note paid or prepaid in full shall be surrendered to the Company at its principal office for cancellation, provided that, in the case of any Note with respect to which any Purchaser or any subsequent Institutional Holder is the registered owner, and with respect to which any such subsequent Institutional Holder has given written notice to the Company requesting that the provisions of this Section 9 shall apply, the PremiumCompany will punctually pay when due the principal thereof, interest thereon and premium, if any, interest on, and any other amounts payable with respect to, the Notes shall be payable at the principal office of Indenture Trustee, in lawful money of the United States of America without surrender or presentation of such Note and without any notation being made thereon. The Holder (or the Person for whom such Holder is a nominee) will, before selling, transferring or otherwise disposing of such Note, present such Note to Indenture Trustee for transfer and notation as provided in Section 2.4. Any payment or prepayment of amounts due on the Notes in accordance with the terms thereof and hereof which is due on a date that is not a Business Day shall be payable, at the election of Nonaffiliated Partner Trustee, on the next following Business Day without penalty or reduction of, or increase in, the amount of interest that is payable thereon. (b) Notwithstanding Section 2.8(a), if any Note is held by the original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, Indenture Trustee shall, if requested in writing by such Holder, pay interest on such Note and pay or prepay the principal thereof and the Premium, if any, thereon and shall pay all other amounts due with respect to such Notesaid principal, by checkwithout any presentment thereof, duly mailed, by first-class mail, postage prepaid, or delivered directly to such Purchaser or to such subsequent Institutional Holder at its such Purchaser's address appearing set forth in Schedule I hereto or such other address as such Purchaser or such subsequent Institutional Holder may from time to time designate in writing to the Company or, if a bank account with a United States bank is designated for such Purchaser on the Register. Upon Schedule I hereto or in any written notice to the Company from the Purchaser or from any Holder that is an original Note Purchasersuch subsequent Institutional Holder, a permitted successor or assign that is an institutional investor or a nominee thereof, which notice shall be given not less than 30 days before the payment or prepayment of the Notes (and Section 2.16 shall constitute Company will make such written notice and wire transfer instructions until otherwise designated payments in the case of the Note Purchasers), Indenture Trustee will pay interest on such Note and pay or prepay the principal thereof and the Premium, if any thereon, by wire transfer of immediately available funds to such institution bank account, marked for attention as indicated, or in the continental such other manner or to such other account in any United States bank as such Purchaser or any such subsequent Institutional Holder may designate from time to time direct in such notice, such wire transfers writing. The Company will not be liable for failure to be made make payment on each date on which such payment or prepayment is due if, and only the Notes so long asas the Company acts in accordance with any written instructions given by a Purchaser or any such Institutional Holder under Section 9. Prior to any sale or other disposition of any Note, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon, or make such institution has facilities Note available to the Company at its principal office for the receipt purpose of a wire transfer. Indenture Trustee will transmit any making such wire transfer from its offices not later than 1:00 p.m. (New York time) on each date on which payment or prepayment is due if, and only so long as, available funds therefor have been received by Indenture Trustee by 11:00 a.m. (New York time) on such date or, if Indenture Trustee has not received such available funds, Indenture Trustee will transmit such wire transfer promptly upon receipt of such available fundsendorsement thereon. (c) A Holder shall have no further interest in, or other right with respect to, the Indenture Estate when and if the principal amount of, Premium, if any, and interest on all Notes held by such Holder and all other sums payable to such Holder and secured hereunder are paid in full.

Appears in 1 contract

Sources: Note Agreement (Unitil Corp)

Payment on Notes. (a) The principal ofSection 2.08(a) the Indenture is hereby amended and restated in its entirety as follows: (a) With respect to each Payment Date, any cash interest, payable on the PremiumNotes shall be paid to the Person that is the registered Holder thereof at the close of business on the related Record Date (subject to the special record date provisions of this Indenture) and any PIK Payment shall be paid by adding such amount to the outstanding Note Balance of the relevant Notes on such Record Date. Principal, premium, if any, and cash interest on, and any other amounts payable with respect to, on the Notes shall be payable at the office or agency of the Issuer maintained for such purpose. The Note Balance increases caused by the addition of the PIK Payment shall be evidenced in writing only by the Issuer, which writing shall be (x) evidenced in the form of an Issuer Order delivered to the Indenture Trustee as set forth in and subject to Section 2.08(e) and (y) deemed correct and shall be conclusive, binding and final for all purposes, absent manifest error. In lieu of the issuance of Additional Notes reflecting the change of a Note Balance due to any PIK Payment, the Indenture Trustee shall keep a written record of each such PIK Payment in a ledger it shall maintain for such purpose. Payments of cash interest, principal office of and other amounts on the Notes shall be made by wire transfer to such account as such Holder shall designate by written instruction received by the Indenture Trustee, Trustee not later than five Business Days prior to the applicable Payment Date. Such payments shall be in lawful money such coin or currency of the United States of America without surrender or presentation of such Note and without any notation being made thereon. The Holder (or the Person for whom such Holder is a nominee) will, before selling, transferring or otherwise disposing of such Note, present such Note to Indenture Trustee for transfer and notation as provided in Section 2.4. Any payment or prepayment of amounts due on the Notes in accordance with the terms thereof and hereof which is due on a date that is not a Business Day shall be payable, at the election time of Nonaffiliated Partner Trustee, on the next following Business Day without penalty or reduction of, or increase in, the amount payment is legal tender for payment of interest that is payable thereonpublic and private debts. (b) Notwithstanding The last paragraph of Section 2.8(a2.08 is hereby revised to insert “(e), if any Note is held by ” in the original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, Indenture Trustee shall, if requested in writing by such Holder, pay interest on such Note and pay or prepay beginning of the principal thereof and the Premium, if any, thereon and shall pay all other amounts due with respect to such Note, by check, duly mailed, by first-class mail, postage prepaid, or delivered to such Holder at its address appearing on the Register. Upon written notice from any Holder that is an original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, which notice shall be given not less than 30 days paragraph immediately before the payment or prepayment of the Notes (and Section 2.16 shall constitute such written notice and wire transfer instructions until otherwise designated in the case of the Note Purchasers), Indenture Trustee will pay interest on such Note and pay or prepay the principal thereof and the Premium, if any thereon, by wire transfer of immediately available funds to such institution in the continental United States as such Holder may designate in such notice, such wire transfers to be made on each date on which such payment or prepayment is due if, and only so long as, such institution has facilities for the receipt of a wire transfer. Indenture Trustee will transmit any such wire transfer from its offices not later than 1:00 p.m. (New York time) on each date on which payment or prepayment is due if, and only so long as, available funds therefor have been received by Indenture Trustee by 11:00 a.m. (New York time) on such date or, if Indenture Trustee has not received such available funds, Indenture Trustee will transmit such wire transfer promptly upon receipt of such available fundsword “The”. (c) A Holder shall have no further interest in, or other right with respect to, the Indenture Estate when and if the principal amount of, Premium, if any, and interest on all Notes held by such Holder and all other sums payable to such Holder and secured hereunder are paid in full.

Appears in 1 contract

Sources: Second Supplemental Indenture (Emergent Capital, Inc.)

Payment on Notes. (a) The principal of, the Premium, if any, interest on, and any other amounts payable with respect to, the Notes shall be payable at the principal office of Indenture Trustee, in lawful money of the United States of America without surrender or presentation of such Note and without any notation being made thereon. The Holder (or the Person for whom such Holder is a nominee) will, before selling, transferring or otherwise disposing of such Note, present such Note to Indenture Trustee for transfer and notation as provided in Section 2.4. Any payment or prepayment of amounts due on the Notes in accordance with the terms thereof and hereof which is due on a date that is not a Business Day shall be payable, at the election of Nonaffiliated Partner Trustee, on the next following Business Day without penalty or reduction of, or increase in, the amount of interest that is payable thereon.or (b) Notwithstanding Section 2.8(a), if any Note is held by the original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, Indenture Trustee shall, if requested in writing by such Holder, pay interest on such Note and pay or prepay the principal thereof and the Premium, if any, thereon and shall pay all other amounts due with respect to such Note, by check, duly mailed, by first-class mail, postage prepaid, or delivered to such Holder at its address appearing on the Register. Upon written notice from any Holder that is an original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, which notice shall be given not less than 30 days before the payment or prepayment of the Notes (and Section 2.16 shall constitute such written notice and wire transfer instructions until otherwise designated in the case of the Note Purchasers), Indenture Trustee will pay interest on such Note and pay or prepay the principal thereof and the Premium, if any thereon, by wire transfer of immediately available funds to such institution in the continental United States as such Holder may designate in such notice, such wire transfers to be made on each date on which such payment or prepayment is due if, and only so long as, such institution has facilities for the receipt of a wire transfer. Indenture Trustee will transmit any such wire transfer from its offices not later than 1:00 p.m. (New York time) on each date on which payment or prepayment is due if, and only so long as, available funds therefor have been received by Indenture Trustee by 11:00 a.m. (New York time) on such date or, if Indenture Trustee has not received such available funds, Indenture Trustee will transmit such wire transfer promptly upon receipt of such available funds. (c) A Holder shall have no further interest in, or other right with respect to, the Indenture Estate when and if the principal amount of, Premium, if any, and interest on all Notes held by such Holder and all other sums payable to such Holder and secured hereunder are paid in full.all

Appears in 1 contract

Sources: Trust Indenture and Security Agreement (Bj Services Co)

Payment on Notes. The Company will pay all sums becoming due on each Note (aincluding redemptions, whether for principal or interest) The by check mailed to the holder of such Note at the registered address of such holder as set forth in the register kept by the Company at its principal ofoffice as provided in Section 8.1, without the presentation or surrender of such Note or the making of any notation thereon, except that any Note paid or prepaid in full shall be surrendered to the Company at its office for cancellation, provided that, in the case of any Note with respect to which the Purchaser or any subsequent Institutional Holder is the registered owner, and with respect to which any such subsequent Institutional Holder has given written notice to the Company requesting that the provisions of this Section 9 shall apply, the PremiumCompany will punctually pay when due the principal thereof, interest thereon and premium, if any, interest on, and any other amounts payable with respect to, the Notes shall be payable at the principal office of Indenture Trustee, in lawful money of the United States of America without surrender or presentation of such Note and without any notation being made thereon. The Holder (or the Person for whom such Holder is a nominee) will, before selling, transferring or otherwise disposing of such Note, present such Note to Indenture Trustee for transfer and notation as provided in Section 2.4. Any payment or prepayment of amounts due on the Notes in accordance with the terms thereof and hereof which is due on a date that is not a Business Day shall be payable, at the election of Nonaffiliated Partner Trustee, on the next following Business Day without penalty or reduction of, or increase in, the amount of interest that is payable thereon. (b) Notwithstanding Section 2.8(a), if any Note is held by the original Note Purchaser, a permitted successor or assign that is an institutional investor or a nominee thereof, Indenture Trustee shall, if requested in writing by such Holder, pay interest on such Note and pay or prepay the principal thereof and the Premium, if any, thereon and shall pay all other amounts due with respect to such Notesaid principal, by checkwithout any presentment thereof, duly mailed, by first-class mail, postage prepaid, or delivered directly to such Purchaser or to such subsequent Institutional Holder at its such Purchaser’s address appearing set forth in Schedule I hereto or such other address as such Purchaser or such subsequent Institutional Holder may from time to time designate in writing to the Company or, if a bank account with a United States bank is designated for such Purchaser on the Register. Upon Schedule I hereto or in any written notice to the Company from the Purchaser or from any Holder that is an original Note Purchasersuch subsequent Institutional Holder, a permitted successor or assign that is an institutional investor or a nominee thereof, which notice shall be given not less than 30 days before the payment or prepayment of the Notes (and Section 2.16 shall constitute Company will make such written notice and wire transfer instructions until otherwise designated payments in the case of the Note Purchasers), Indenture Trustee will pay interest on such Note and pay or prepay the principal thereof and the Premium, if any thereon, by wire transfer of immediately available funds to such institution bank account, marked for attention as indicated, or in the continental such other manner or to such other account in any United States bank as such Purchaser or any such subsequent Institutional Holder may designate from time to time direct in such notice, such wire transfers writing. The Company will not be liable for failure to be made make payment on each date on which such payment or prepayment is due if, and only the Notes so long asas the Company acts in accordance with any written instructions given by the Purchaser or any such Institutional Holder under Section 9. Prior to any sale or other disposition of any Note, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon, or make such institution has facilities Note available to the Company at its principal office for the receipt purpose of a wire transfer. Indenture Trustee will transmit any making such wire transfer from its offices not later than 1:00 p.m. (New York time) on each date on which payment or prepayment is due if, and only so long as, available funds therefor have been received by Indenture Trustee by 11:00 a.m. (New York time) on such date or, if Indenture Trustee has not received such available funds, Indenture Trustee will transmit such wire transfer promptly upon receipt of such available fundsendorsement thereon. (c) A Holder shall have no further interest in, or other right with respect to, the Indenture Estate when and if the principal amount of, Premium, if any, and interest on all Notes held by such Holder and all other sums payable to such Holder and secured hereunder are paid in full.

Appears in 1 contract

Sources: Note Agreement (Unitil Corp)