NEDL definition
Examples of NEDL in a sentence
For the purposes of sub-paragraph (g) above, Section 123(l)(a) of the Insolvency Act 1986 shall have effect as if for "(pound)750" there was substit▇▇▇▇ "(▇ound)250,000" or such higher figure as the Gas and Electricity Markets Authority may from time to time determine by notice in writing to NEDL.
If, in connection with any insolvency, bankruptcy, administration, dissolution, liquidation or analogous procedure relating to the Issuer or NEDL, a payment on the Bonds by the Issuer or NEDL is claimed to be or is avoided as a preferential transfer, Ambac may (provided that Ambac is then the Controlling Party) direct all matters relating to such claim or avoidance on behalf of the Trustee, the Bondholders and the Couponholders.
So far as permitted by applicable law, at all times execute all such further documents and do all such further acts and things as may be necessary in the opinion of the Trustee and Ambac (so long as it is the Controlling Party) to give effect to the obligations or the Issuer or, as applicable, NEDL under this Trust Deed.
At the request of the Trustee, the Issuer or NEDL, as applicable, will forthwith do all things as may be required to perfect such appointment or removal and it irrevocably appoints the Trustee to be its attorney in its name and on its behalf to do so.
If the area of land contained in the NEDL lease is required for aesthetic and landscaping purposes of the development, the council will best endeavour to reduce the area leased by NEDL from the Council.
Furthermore, until such time as aforesaid, NEDL shall not take any security or counter-indemnity from the Issuer in respect of NEDL's obligations under this Clause 4.
Neither the Issuer, NEDL nor any Subsidiary shall be deemed to be unable to pay its debts for the purposes of sub-paragraph (g) above if any such demand as is mentioned in Section 123(1)(a) of the Insolvency Act I986 is being contested in good faith by the Issuer, NEDL or the relevant Subsidiary with recourse to all appropriate measures and procedures.
Notwithstanding the provisions of the foregoing, the Issuer and Ambac may, without the consent of the Bondholders or Couponholders, agree to any modification to Condition 10 (Covenants by the Issuer and NEDL to Ambac) and to Clause 11 (Covenants by the Issuer and NEDL in favour of Ambac) of this Trust Deed.
The Issuer, NEDL or any of their respective Subsidiaries may at any time purchase or otherwise acquire Bonds (provided that all unmatured Coupons and Talons are attached thereto or are surrendered therewith) at any price in the open market or otherwise.
Any election by Ambac under the Financial Guarantee to pay any amount of principal in respect of the Bonds and any accrued interest thereon which has become immediately due and payable (whether by virtue of acceleration, prepayment or otherwise) other than on the relevant Scheduled Payment Date shall be made by notice in writing to the Trustee, with a copy to the Issuer and NEDL, specifying the date on which such amount will be paid by Ambac.