Common use of Payments of Interest and Fees Clause in Contracts

Payments of Interest and Fees. Until the Completion Date, the Company shall include in each Advance Request delivered pursuant to Sections 2.4.1(a) and 2.4.2(a) a request that an Advance be made to pay the interest and fees that will become due and payable under each of the Bank Credit Agreement, the Second Mortgage Notes and the FF&E Facility on or after the requested Advance Date under such Advance Request and prior to the immediately succeeding Advance Date. Each such Advance Request shall specify the Facility, the amount and the date on which such interest or fees will become due and payable. If the Company fails to set forth such information in any Advance Request or fails to deliver timely any Advance Request, then the Bank Agent, the Indenture Trustee and the FF&E Agent as to their respective Facilities may deliver such information and a request for payment to the Disbursement Agent upon which request the Disbursement Agent shall revise the Advance Request and related Notice of Advance Request to provide for such payment. The Company acknowledges that failure of any notice referenced in this Section 2.7 to be delivered to the Disbursement Agent shall not in any way exonerate or diminish the Company's obligation to make all payments under each of the Bank Credit Agreement, the Second Mortgage Notes and the FF&E Facility as and when due. Subject to the provisions of Section 10.2 and the Company Collateral Account Agreements, the Disbursement Agent shall apply amounts on deposit in the Interest Payment Account and, to the extent set forth in Section 2.5.6, the Second Mortgage Notes Proceeds Account, to the payment of interest and fees under the Bank Credit Agreement, the Second Mortgage Notes and/or the FF&E Facility, in each case, on the date that the Disbursement Agent is advised such amounts will become due and payable. The Company shall not be permitted to obtain Advances for the purpose of paying interest, fees or other Debt Service at any time after the Completion Date, except for amounts payable from the Second Mortgage Notes Proceeds Account in accordance with Section 2.5.6.

Payments of Interest and Fees. Until the Completion Date, the Company shall include in each Advance Request delivered pursuant to Sections 2.4.1(a) and 2.4.2(a) a request that an Advance be made to pay the interest and fees that will become due and payable under each of the Bank Credit Agreement, the Second Mortgage Notes and the FF&E Facility on or after the requested Advance Date under such Advance Request and prior to the immediately succeeding Advance Date. Each such Advance Request shall specify the Facility, the amount and the date on which such interest or fees will become due and payable. If the Company fails to set forth such information in any Advance Request or fails to deliver timely any Advance Request, then the Bank Agent, the Indenture Trustee and the FF&E Agent as to their respective Facilities may deliver such information and a request for payment to the Disbursement Agent upon which request the Disbursement Agent shall revise the Advance Request and related Notice of Advance Request to provide for such payment. The Company acknowledges that failure of any notice referenced in this Section 2.7 to be delivered to the Disbursement Agent shall not in any way exonerate or diminish the Company's obligation to make all payments under each of the Bank Credit Agreement, the Second Mortgage Notes and the FF&E Facility as and when due. Subject to the provisions of Section 10.2 and the Company Collateral Account Agreements, the Disbursement Agent shall apply amounts on deposit in the Interest Payment Account and, to the extent set forth in Section 2.5.6, the Second Mortgage Notes Proceeds Account, Account to the payment of interest and fees under the Bank Credit Agreement, the Second Mortgage Notes and/or the FF&E Facility, in each case, on the date that the Disbursement Agent is advised such amounts will become due and payable. The Company shall not be permitted to obtain Advances for the purpose of paying interest, fees or other Debt Service at any time after the Completion Date, Date except for amounts payable from the Second Mortgage Notes Proceeds Account in accordance with Section 2.5.6.

Payments of Interest and Fees. Until the Completion Opening Date, the Company shall include in each Advance Request delivered pursuant to Sections 2.4.1(a2.5.1(a) and 2.4.2(a2.5.2(a) a request that an Advance be made to pay the interest and fees that will become due and payable under each of the Bank Credit Agreement, the Second Interim Mall Credit Agreement, the Mortgage Notes Notes, the Approved Equipment Funding Commitments and the FF&E Facility Subordinated Notes on or after the requested Advance Date under such Advance Request and prior to the immediately succeeding Advance Date. Each such Advance Request shall specify the Facility, the amount and the date on which such interest or fees will become due and payable. If the Company fails to set forth such information in any Advance Request or fails to deliver timely any Advance Request, then (a) with respect to the Bank AgentCredit Facility, the Indenture Trustee Interim Mall Facility and the FF&E Mortgage Notes, the Funding Agent as to their respective Facilities under the relevant Facility may deliver such information and a request for payment to the Disbursement Agent upon which request the Disbursement Agent shall revise the Advance Request and related Notice of Advance Request Borrowing to provide for such payment, and (b) with respect to the Approved Equipment Funding Commitments and the Subordinated Notes, the Disbursement Agent shall, upon receiving documentation from the lender under the Approved Equipment Funding Commitment or the Subordinated Notes Indenture Trustee reasonably establishing that a payment of interest or fees, as the case may be, on the Approved Equipment Funding Commitments or the Subordinated Notes, as the case may be, will be due during the relevant period and the amount of such payment, be entitled to revise the Advance Request and related Notice of Funding Request to provide for the payment of interest or fees, as the case may be, on the Approved Equipment Funding Commitments or the Subordinated Notes, as the case may be, subject, in the case of the Subordinated Notes, to not having received a request for blockage of payments on the Subordinated Notes pursuant to Article 10 of the Subordinated Notes Indenture. The Company acknowledges that failure of any notice referenced in this Section 2.7 to be delivered to the Disbursement Agent shall not in any way exonerate or diminish the Company's obligation to make all payments under each of the Bank Credit Agreement, the Second Interim Mall Credit Agreement, the Mortgage Notes Notes, the Approved Equipment Funding Commitment and the FF&E Facility Subordinated Notes as and when due. Subject to the provisions of Section 10.2 and the Company Collateral Account AgreementsAgreement, the Disbursement Agent shall apply amounts on deposit in the Interest Payment Account and, to the extent set forth in Section 2.5.6, the Second Mortgage Notes Proceeds Account, to the payment of interest and fees under the Bank Credit Agreement, the Second Interim Mall Credit Agreement, the Mortgage Notes and/or the FF&E FacilityApproved Equipment Funding Commitment and the Subordinated Notes, in each case, on the date that the Disbursement Agent is advised such amounts will become due and payablepayable (provided that no such payment shall be made in respect of the Subordinated Notes from and after receipt by the Disbursement Agent of notice from any Funding Agent that payment on the Subordinated Notes is blocked under Article 10 of the Subordinated Note Indenture). The Company shall not be permitted to obtain Advances for the purpose of paying interest, fees interest or other Debt Service at any time after the Completion Opening Date, except for amounts payable from the Second Mortgage Notes Proceeds Account in accordance with Section 2.5.6.

Payments of Interest and Fees. Until the Completion Date, the Company shall include in each Advance Request delivered pursuant to Sections 2.4.1(a) and 2.4.2(a) a request that an Advance be made to pay the interest and fees that will become due and payable under each of the Bank Credit Agreement, the Second Mortgage Notes and the FF&E Facility on or after the requested Advance Date under such Advance Request and prior to the immediately succeeding Advance Date. Each such Advance Request shall specify the Facility, the amount and the date on which such interest or fees will become due and payable. If the Company fails to set forth such information in any Advance Request or fails to deliver timely any Advance Request, then the Bank Agent, the Indenture Trustee and the FF&E Agent as to their respective Facilities may deliver such information and a request for payment to the Disbursement Agent upon which request the Disbursement Agent shall revise the Advance Request and related Notice of Advance Request to provide for such payment. The Company acknowledges that failure of any notice referenced in this Section 2.7 to be delivered to the Disbursement Agent shall not in any way exonerate or diminish the Company's obligation to make all payments under each of the Bank Credit Agreement, the Second Mortgage Notes and the FF&E Facility as and when due. Subject to the provisions of Section 10.2 and the Company Collateral Account Agreements, the Disbursement Agent shall apply amounts on deposit in the Interest Payment Account and, to the extent set forth in Section 2.5.6, the Second Mortgage Notes Proceeds Account, to the payment of interest and fees under the Bank Credit Agreement, the Second Mortgage Notes and/or the FF&E Facility, in each case, on the date that the Disbursement Agent is advised such amounts will become due and payable. The Company shall not be permitted to obtain Advances for the purpose of paying interest, fees or other Debt Service at any time after the Completion Date, except for amounts payable from the Second Mortgage Notes Proceeds Account in accordance with Section 2.5.6.