Covenant to Pay definition

Covenant to Pay means the covenant to pay set out in clause 4.1 of the Security Agreement.
Covenant to Pay means the covenants of the Issuer contained in clause 2.6 (Covenant to pay) of the Note Trust Deed;
Covenant to Pay means the covenants of the Issuer contained in Clause 3.1 (Covenant to pay) of the Note Trust Deed;

Examples of Covenant to Pay in a sentence

  • Any amount received or recovered by the Trustee (otherwise than as a result of a payment by the Relevant Issuer to the Trustee in accordance with Clause 2 (Issue of Notes and Covenant to Pay)) in respect of any sum payable by the Relevant Issuer under this Trust Deed, the Notes or the Coupons may be placed in a suspense account and kept there for so long as the Trustee thinks fit.

  • Subclauses (a) and (b) of Clause 2.3 (Covenant to Pay) shall apply (with consequential amendments as necessary) to such payments other than those in respect of sums due under Clause 8 (Remuneration and Indemnification of the Trustee).

  • Each Company shall pay interest on any amounts due and payable by it under this Debenture (other than pursuant to Clause 2.1 (Covenant to Pay)) to the date of payment or discharge (notwithstanding any demand or any judgment obtained by the Security Trustee or the liquidation or administration of or any arrangement or composition with creditors by such Company) at the Default Rate.

  • Each of the parties hereto agrees to and acknowledges the provisions set forth in clause 2 or clause 3 (as applicable) (Covenant to Pay) of the Dutch Collateral Documents.

  • Covenant to Pay Unless this Section 3.2 is expressly disapplied in its entirety by any provision in the Principal Security Agreement, the Beneficiary covenants in favour of the Secured Party that it will pay and discharge the Secured Obligations when they are due to be paid or discharged.

  • The parties hereto acknowledge that: (i) the Australian Covered Bonds are constituted by the applicable Australian Deed Poll; (ii) the Issuer has provided the Covenant to Pay pursuant to the applicable Australian Deed Poll; and (iii) the Bond Trustee holds the benefit of the Covenant to Pay as well as the benefit of the other covenants in the applicable Australian Deed Poll in trust for the Covered Bondholders of the Australian Covered Bonds pursuant to the applicable Australian Deed Poll.

  • Covenant to Pay the Bonds; Bonds Limited Obligations of the Issuer.

  • The Issuer covenants with and undertakes to the Security Trustee for itself and on trust for the Secured Creditors and binds and obliges itself that it will duly and punctually pay or discharge the Secured Obligations in accordance with the terms of clause 2 ( Covenant to Pay and Perform) of the Deed of Charge.

  • Subject to clause 3.5 (Covenant to Pay) of the Trust Terms Module, the Calculation Agent acts solely as agent of the Issuer and does not assume any obligation or duty to, or any relationship of agency or trust for or with, the Securityholders.

  • We think for the ends of justice and the proper determination of the question between the parties, that all these cases should be tried together, and all the evidence which is put forward in them, should be looked to...." In this case the High Court passed an order directing the consolidation of several cases between the same parties "relating to the same matter".


More Definitions of Covenant to Pay

Covenant to Pay means the covenants of the Issuer in respect of the Notes contained in Clause 3.2 (Covenant to Pay) a of the Trust Deed and, in respect of the Secured Amounts, contained in Clause 3 (Issuer's Covenant to Pay) of the Irish Deed of Charge and Clause 3 (Issuer's Covenant to Pay) of the English Deed of Charge, as applicable;
Covenant to Pay means the covenants of the Issuer in respect of the Notes and Residual Certificates contained in clause 6 (Covenant to Repay Principal) and clause 7 (Covenant to Pay Interest and Residual Payments) of the Trust Deed and, in respect of the Secured Amounts, contained in clause 3 (Issuer’s Undertaking to Pay) of the Deed of Charge and the corresponding covenants contained in any supplemental or further trust deeds executed in connection with the issue of any Further Notes;
Covenant to Pay means the Master Purchaser’s undertaking to pay the Secured Amounts pursuant to Clause 2 ( Master Purchaser’s Undertaking to Pay ) of the Styron Security Deed.
Covenant to Pay means the Covenant to Pay executed by GWR in connection with the Pledge Agreements providing for a pledge of the equity interests of GGH, Xxxxxxx-Xxxxxxx Maschinenfabrik GmbH and Xxxxxxx-Xxxxx Maschinen und Werkzeuge GmbH.

Related to Covenant to Pay

  • Covenant Testing Period means a period (a) commencing on the last day of the fiscal quarter of Borrower most recently ended prior to a Covenant Trigger Event for which Borrower is required to deliver to Administrative Agent quarterly or annual financial statements pursuant to Section 5.2 of this Agreement, and (b) continuing through and including the first day after such Covenant Trigger Event that Availability has equaled or exceeded the greater of (i) 10% of the Borrowing Limit, and (ii) $15,000,000 for 60 consecutive calendar days.

  • Covenant means a covenant, condition, limitation or restriction in a document or instrument in effect at Date of Policy.

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Covenants means the covenants set forth in Section 4 of this Agreement. To acknowledge your agreement to and acceptance of the terms and conditions of this Agreement, please sign below in the space provided within five (5) days of the date of this Agreement and return a signed copy to my attention. If the Agreement is not signed and returned within (5) days, the terms and conditions of this Agreement will be deemed withdrawn. Sincerely, MEDQUIST INC. By: Xxxxx X. Xxxxxxx President Accepted and Agreed:

  • Pay means rate of compensation for the job.

  • Assessment Date means the tax assessment effective date for each tax year in question,i.e. December 31 of the immediately preceding calendar year.

  • Maintenance Fee means any fee, obligation, or

  • Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.

  • Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $50,000,000.

  • Covenant Suspension Event has the meaning assigned to such term in Section 4.19.

  • Increased Reporting Period means the period commencing after the continuance of an Increased Reporting Event and continuing until the date when no Increased Reporting Event has occurred for 30 consecutive days.

  • Covenant Compliance Event means that Excess Availability at any time is less than the greater of (a) ten (10%) percent of the Line Cap or (b) $7,000,000. For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amounts set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • Annual Service Charge as of any date means the maximum amount which is payable in any period for interest on, and original issue discount of, Debt of the Company and its Subsidiaries and the amount of dividends which are payable in respect of any Disqualified Stock.

  • Indemnify means an undertaking to pay any damages, claim or taxed costs awarded by a court or agreed to by the municipality in terms of a formal settlement process;

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Covenant Compliance Worksheet means a fully completed worksheet in the form of Attachment A to Exhibit C.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Covenant Period means the period of time from the date of this Agreement to the date that is two years after the Date of Termination.

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Renewal Date means the effective date of Renewal. The first Renewal Date shall be the date as specified in the Policy Schedule (which shall not be later than the first anniversary of the Policy Effective Date) and the subsequent Renewal Date(s) shall be the anniversary(ies) of the first Renewal Date. The relevant Renewal Date shall be specified in the notification of Renewal in accordance with Section 3 of Part 4.