CP Obligations definition

CP Obligations means the aggregate unpaid face amount or principal of and premium, if any, on, and unpaid interest accrued and to accrue up to the Expected Maturity Date in the case of Liquidity Notes and the Maturity Date in the case of USCP Notes and ECP Notes which are not Liquidity Notes, (and, in the case of Extended Maturity Notes, unpaid interest
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CP Obligations means, at any time, the principal amount of outstanding Commercial Paper plus accrued interest thereon.
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Examples of CP Obligations in a sentence

  • In the event M&I makes payment for and on behalf of the Borrowers or otherwise becomes liable for all or any portion of the CP Obligations under the Commercial Paper, M&I will promptly notify the other Banks.

  • The obligation of each Bank to so reimburse M&I shall be absolute and unconditional and shall not be affected by the occurrence of a Default, an Event of Default or any other occurrence or event; provided, however, M&I shall not voluntarily make any payment for or on behalf of the Borrowers during the occurrence of an Event of Default for all or any portion of the CP Obligations without the consent of the Required Banks.

  • Nothing in this SECTION 2.2 shall be deemed to obligate M&I or any Bank to make any payment of all or any portion of the CP Obligations for and on behalf of any Borrower.

  • Without limiting the scope and nature of each Bank's participation in connection with the Commercial Paper, to the extent that M&I has not been reimbursed by the Borrowers as required hereunder, each such Bank shall pay to M&I its pro rata share of such CP Obligations in same day funds on the day of notification by M&I of an unreimbursed CP Obligations.

  • Any such reimbursement shall not relieve or otherwise impair the joint and several obligations of the Borrowers to M&I for the CP Obligations.