Subsection 12 Clause Samples
Subsection 12. 2. Subsection 12.2 of the Existing Lease is hereby amended by deleting the first four sentences thereof in their entirety and substituting in lieu thereof the following new sentence: “If an Event of Loss shall occur, Lessee shall pay to Lessor (subject to subsection 15.2), on the Basic Lease Commencement Date or the Basic Rent Payment Date next succeeding the
(a) the Lease shall terminate and the obligations of Lessee hereunder (other than the obligation to pay Supplemental Rent and any obligation expressed herein as surviving termination of this Lease) shall terminate as of the date of such payment and (b) Lessor shall Transfer the Leased Assets subject to such Event of Loss to Lessee or as Lessee shall direct, free and clear of the Lien of the Indenture.”
Subsection 12. 1(a) of the Post-Petition Credit Agreement is hereby amended and restated to in its entirety to read as follows:
(a) This Agreement and the other Financing Agreements shall continue in full force and effect for a term ending on the date September 30, 2005 (the "Renewal Date"). Upon the Renewal Date or earlier termination of the Financing Agreements, Borrower shall pay to Lender, in full, all outstanding and unpaid Obligations and shall furnish cash collateral to Lender in such amounts as Lender determines are reasonably necessary to secure Lender from loss, cost, damage or expense, including attorneys' fees and legal expenses, in connection with any contingent Obligations, including issued and outstanding Letter of Credit Accommodations and checks or other payments provisionally credited to the Obligations and/or as to which Lender has not yet received final and indefeasible payment. Such cash collateral shall be remitted by wire transfer in Federal funds to such bank account of Lender, as Lender may, in its discretion, designate in writing to Borrower for such purpose. Interest shall be due until and including the next business day, if the amounts so paid by Borrower to the bank account designated by Lender are received in such bank account later than 12:00 noon, Chicago time."
Subsection 12. 03. Limitation on Liability of the Seller, the Servicer and Others...........................47 Subsection 12.04. Servicer Not to Resign............................48 Subsection 12.05. No Transfer of Servicing..........................48 SECTION 13. Default.........................................................48 Subsection 13.01. Events of Default.................................48