Trust Obligee definition
Examples of Trust Obligee in a sentence
Corporate Obligee, Trust Obligee and each Lender hereby directs and authorizes Agent to establish and maintain at the office of Agent registration books in which Agent will register, and register any assignment effected in compliance with Section 10.7 of, each holder’s interest in each Note or any portion thereof and which identifies each registered holder of each Note or any portion thereof.
Obligor shall also pay the reasonable fees and disbursements of special counsel to Corporate Obligee, special counsel to Trust Obligee and special counsel to Agent, Security Trustee and Lenders in connection with any amendments, waivers or consents requested by Obligor under the Equipment Agreement.
Each party hereto agrees that it shall not institute against, or join any other Person in instituting against Trust Obligee any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any federal or state bankruptcy or similar law for one year and a day after the latest maturing A Notes issued by Trust Obligee is paid.
In the event an Item of Equipment shall suffer an Event of Loss, then on the Casualty Loss Value Payment Date for such Item, Corporate Obligee and Trust Obligee shall prepay and apply, and there shall become due and payable on the Casualty Loss Value Payment Date for such Item, a principal amount of the A Loans and B Loans, pro rata, equal to the Unamortized Debt Balance with respect to such Item of Equipment and all accrued and unpaid interest thereon.
The only consequence of a breach by any Lender, Trust Obligee, Corporate Obligee, Agent, Security Trustee, Trust Company or Owner Participant of this Section 6.8, shall be that Obligor shall be entitled to withhold from any payment made by Obligor to such Person the appropriate amount of federal income tax, notwithstanding the provisions of the Operative Documents to the contrary and Obligor shall have no obligation under Section 8.2 for those amounts withheld from payments to such Person hereunder.
Trust Obligee shall pay to each A Lender and Corporate Obligee shall pay to each B Lender interest on any part of the unpaid principal amount of any Note issued by such Obligee to such Lender, if any, and interest on such Note and any other amount payable by such Obligees hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise) on demand for the period commencing on the due date thereof until the same is paid in full at the Overdue Rate.
Security Trustee shall, at Obligor’s expense, execute and deliver any evidence of such release as Corporate Obligee or Trust Obligee may reasonably require and furnish to Security Trustee.
Prior toregistration of transfer, Obligees may treat the person in whose name the Note is registered as theabsolute owner thereof for all purposes, and neither Corporate Obligee nor Trust Obligee shall be affected by any notice to the contrary.
The replacement A Notes shall be issued by Trust Obligee to the A Lenders in accordance with the requirements of Section 5.3.2 (a) hereof.
Trust Obligee agrees to pay to the A Lenders interest in respect of the unpaid principal amount of each A Loan assumed by Trust Obligee from Corporate Obligee pursuant to the Receivables Purchase Agreement and this Agreement from the date hereof until the date on which such A Loan (together with accrued and unpaid interest thereon) is repaid in full (whether on the Maturity Date, by acceleration or otherwise) at the Applicable Debt Rate (calculated on the basis of a 360-day year and actual days elapsed).