Payments to Creditors Sample Clauses

Payments to Creditors. The Company has at all times paid its creditors within the times agreed with such creditors and there are no debts owing by the Company which are overdue for payment.
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Payments to Creditors. At all times during the continuance of this Trust, the principal and income of the Trust shall be subject to claims of general creditors of the Company as set forth in this Section 2.03, and at any time the Trustee has actual knowledge, or has determined, that the Company is "Insolvent," as defined in Article V hereof, the Trustee shall suspend any further payments from the Trust Fund to Participants and will hold the Trust Fund for the benefit of the Company's general creditors. The Board of Directors and the chief executive officer of the Company shall each have the duty to inform the Trustee of the Company's Insolvency. If the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, the Trustee shall independently determine, within 30 days after receipt of such notice, whether the Company is Insolvent and pending such determination, the Trustee shall discontinue payments of Plan benefits to Participants, shall hold the Trust assets for the benefit of the Company's general creditors, and shall resume payments of Plan benefits to Participants in accordance with this Trust Agreement only after the Trustee has determined that the Company is not Insolvent (or is no longer Insolvent, if the Trustee initially determined the Company to be Insolvent). Unless the Trustee has actual knowledge of the Company's Insolvency or has reason to believe that the Company is Insolvent, the Trustee shall have no duty to inquire whether the Company is Insolvent. The Trustee may in all events rely on such evidence concerning the Company's Insolvency as may be furnished to the Trustee which will give the Trustee a reasonable basis for making a determination concerning the Company's solvency. Nothing in this Trust Agreement shall in any way diminish any rights of any Participant to pursue his rights as a general creditor of the Company with respect to Plan benefits or otherwise. If the Trustee discontinues payment of benefits from the Trust pursuant to this Section 2.03 and subsequently resumes such payments, the first payment following such discontinuance shall include the aggregate amount of all payments which would have been made to any Participant during the period of such discontinuance, less the aggregate amount of payments made to such Participant by the Company from its general assets during any such period of discontinuance. Such amount, if any, shall be paid together with interest thereon at th...
Payments to Creditors. Prior to a Change of Control, payment by the Trustees to any creditor of the Company other than a Beneficiary shall be made only upon instructions from DP&L or pursuant to the final judgment of any court of competent jurisdiction. The Trustees shall notify DP&L prior to any payment of any part of the Trust Corpus to any creditor of the Company other than a Beneficiary. Following a Change of Control, payments by the Trustees to any creditor shall be made only as provided in Article 6, paragraph A of this Agreement.
Payments to Creditors. 10 2.04 Sufficiency of Trust Fund........................................... 11 2.05 Surplus Assets...................................................... 11
Payments to Creditors. 18 8.24 Security Interest in Franchise Agreement...................18 8.25
Payments to Creditors. The Franchisee will timely pay all of its obligations and liabilities due and payable to E & C suppliers, lessors and its creditors.
Payments to Creditors. Borrower will make each payment which it owes under the Loan Documents not later than noon, Eastern time, on the date such payment becomes due and payable, in lawful money of the United States of America, without set-off, deduction or counterclaim, and in immediately available funds. Any payment received after such time shall be deemed to have been made on the next following Business Day. Should any such payment become due and payable on a day other than a Business Day, the maturity of such payment shall be extended to the next succeeding Business Day, and, in the case of a payment of principal or past due interest, interest shall accrue and be payable thereon for the period of such extension as provided in the Loan Document under which such payment is due. Each payment under a Loan Document shall be due and payable at the place provided therein and, if no specific place of payment is provided, shall be due and payable at the place of payment of the respective Creditor's Note. So long as the Obligations have not been declared due and payable pursuant to Section 4.2, when Collateral Agent collects or receives money on account of the Obligations, Collateral Agent shall distribute all money so collected or received, after deduction of amounts then due and owing to Collateral Agent, and each Creditor shall apply all such money so distributed, as follows:
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Payments to Creditors. Notwithstanding any other provision of this Agreement, the Borrower shall be entitled to pay, and the holder of the KHC Note shall be entitled to receive, so long as no default has occurred under the Bank Note or the Bank Loan Documents, the scheduled payments of interest and principal as and when due under the KHC Note. After the occurrence of a default under the Bank Note or the Bank Loan Documents and receipt by KHC or other holder of the KHC Note of written notice of such default from Bank, the Borrower shall not make, and the holder of the KHC Note shall not receive, any direct or indirect payments of principal, interest, fees or expenses under the KHC Note or the KHC Loan Documents or any other document or instrument evidencing or securing the same.
Payments to Creditors. The Company pays its creditors in accordance with normal commercial practice.
Payments to Creditors. There are no debts owing by the Company which are overdue for payment.
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