Financing Sources definition
Examples of Financing Sources in a sentence
Upon the delivery of a Notice of Event of Default by the Financing Sources to Ligado, and until the Financing Sources revoke such Notice of Event of Default in writing, the Financing Sources shall be entitled (but not obligated) to exercise any and all rights of SpectrumCo to cure any defaults of SpectrumCo under this Agreement and Ligado shall accept such exercise in all respects in lieu of performance by SpectrumCo and in satisfaction of the SpectrumCo’s obligations under this Agreement.
SpectrumCo and Ligado agree that if the Financing Sources issue Ligado a Step-In Notice, the Financing Sources’ shall thereafter (x) be obligated to honor all of the duties, obligations and liabilities of the “SpectrumCo” under this Agreement, and (y) be entitled to the benefit of, and to exercise, all of the rights, benefits and remedies of the “SpectrumCo” under this Agreement.
Ligado will accept payment and/or performance from the Financing Sources during the Cure Period without requiring assumption of liability from the Financing Sources or the issuance of a Step-In Notice.