Common use of Payment Permitted If No Default Clause in Contracts

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 or under the conditions described in Section 1203 or 1204, from making payments at any time of principal of and premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and premium, if any, or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 6 contracts

Samples: Purchase Agreement (World Airways Inc /De/), Indenture (Speedway Motorsports Inc), Indenture (Personnel Group of America Inc)

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Payment Permitted If No Default. Nothing contained in this Article Seventeen or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 1702 or under the conditions described in Section 1203 or 12041703, from making payments at any time of principal of and of, premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and of, premium, if any, or interest on the Securities or the retention of such payment by the Holders, Holders if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this ArticleArticle Seventeen.

Appears in 5 contracts

Samples: Indenture (Thermo Instrument Systems Inc), Indenture (Thermo Electron Corp), Indenture (Thermotrex Corp)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 13.2 or under the conditions described in Section 1203 13.3 or 120413.4, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, Holders if, at the time of such application by the Trustee, it did not have actual knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 4 contracts

Samples: Indenture (Interim Services Inc), Interim Services Inc, Tech Data Corp

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 14.2 or under the conditions described in Section 1203 or 120414.3, from making payments at any time of principal of and of, premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and of, premium, if any, or interest on the Securities or the retention of such payment by the Holders, Holders if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 3 contracts

Samples: Indenture (Atlas Air Worldwide Holdings Inc), Atlas Air Worldwide Holdings Inc, Indenture (Xtra Missouri Inc)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities Notes shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 1102 or under the conditions described in Section 1203 1103 or 12041104, from making payments at any time of principal of and premium, if any, or interest on the SecuritiesNotes, or (b) the application by the Trustee or any Paying Agent of any money moneys deposited with it hereunder to the payment of or on account of the principal of and or premium, if any, or interest on the Securities or Notes and the retention of such payment by the Holders, Holders of any moneys so received if, at the time of such application by payment, the Trustee, it Trustee or such Paying Agent did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 3 contracts

Samples: Bank United Corp, Bank United Corp, Bank United Corp

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 or under the conditions described in Section 1203 or 1204, from making payments at any time of principal of and premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and premium, if any, or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 2 contracts

Samples: Nexstar Pharmaceuticals Inc, Atrix Laboratories Inc

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities of any series shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 1402 or under the conditions described in Section 1203 1403 or 12041404, from making payments at any time of principal of and premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities of any series or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 2 contracts

Samples: Subordinated Debt Securities Indenture (Cullen/Frost Bankers, Inc.), Indenture (Intercontinental Exchange, Inc.)

Payment Permitted If No Default. Nothing contained in this Article Thirteen or elsewhere in this Indenture or in any of the Securities Notes shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 13.2 or under the conditions described in Section 1203 or 120413.3, from making payments at any time of principal of and (premium, if any, ) or interest on the SecuritiesNotes, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities Notes or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this ArticleArticle Thirteen.

Appears in 2 contracts

Samples: Signature Resorts Inc, Signature Resorts Inc

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this the Indenture or in any of the Securities of any series shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 3.2 or under the conditions described in Section 1203 Sections 3.3 or 12043.4, from making payments at any time of principal of and premium, if any, or interest on the SecuritiesNotes, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities Notes or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it a Responsible Officer of the Trustee did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 2 contracts

Samples: Second Supplemental Indenture (Axos Financial, Inc.), Second Supplemental Indenture (Axos Financial, Inc.)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture Indenture, or in any of the Securities Securities, shall prevent (a) the Company, Company at any time time, except during the conditions described in the first paragraph of Section 13.2 or the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company Proceeding referred to in Section 1202 13.2 or under the conditions described in Section 1203 or 1204Sections 13.3 and 13.4, from making payments at any time of principal of (and premium, if any, ) or interest (including Additional Interest) on the Securities, or (b) the application by the Trustee of any money moneys deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest (including any Additional Interest) on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 2 contracts

Samples: Agreement (Usf&g Corp), Trust Agreement (Usf&g Corp)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 13.2 or under the conditions described in Section 1203 13.3 or 120413.4, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, Holders if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 2 contracts

Samples: Indenture (Uromed Corp), Cuc International Inc /De/

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 13.2 or under the conditions described in Section 1203 or 120413.3, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 2 contracts

Samples: Indenture (Alcatel Usa Inc), Indenture (DSC Communications Corp)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 or under the conditions described in Section 1203 or 12041203, from making payments at any time of principal of and (premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 2 contracts

Samples: Reptron Electronics Inc, National Data Corp

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Guaranteed Securities or the Guarantee shall prevent (a) the CompanyGuarantor, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company Guarantor Proceeding referred to in Section 1202 1702 or under the conditions described in Section 1203 or 1204Sections 1703 and 1704, from making payments at any time pursuant to the Guarantee of the Guarantor of principal of (and premium, if any, ) or interest on the Guaranteed Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Guaranteed Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Aetna Services (Aetna Inc)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 1302 or under the conditions described in Section 1203 1303 or 12041304, from making payments at any time of principal of and premium, if any, or interest on the Securities, or (b) the application by the Trustee or any Paying Agent of any money moneys deposited with it hereunder to the payment of or on account of the principal of and (or premium, if any, ) or interest on the Securities or and the retention of such payment by the Holders, Holders of any moneys so received if, at the time of such application by the Trusteepayment, it such Paying Agent did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Article Twelve (Bny Capital V)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 14.2 or under the conditions described in Section 1203 14.3 or 120414.4, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Sierra Health Services Inc

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 13.2 or under the conditions described in Section 1203 13.3 or 120413.4, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Indenture (United Waste Systems Inc)

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Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 or under the conditions described in Section 1203 or 12041203, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Budget Group Inc

Payment Permitted If No Default. Nothing contained in this Article XII or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 12.02 or under the conditions described in Section 1203 or 120412.03, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this ArticleArticle XII.

Appears in 1 contract

Samples: Indenture (Seacor Holdings Inc)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 13.2 or under the conditions described in Section 1203 or 120413.3, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Sports Authority Inc /De/

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 12.2 or under the conditions described in Section 1203 12.3 or 120412.4, from making payments at any time of principal of and premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and premium, if any, or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Credence Systems Corp

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 or under the conditions described in Section 1203 or 1204, from making payments at any time of principal of and premium, interest or liquidated damages, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and premium, if any, or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Res Care Inc /Ky/

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 10.02 or under the conditions described in Section 1203 10.03 or 120410.04, from making payments at any time of principal of and premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and or premium, if any, or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Geotek Communications Inc

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities of any series shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 1502 or under the conditions described in Section 1203 1503 or 12041504, from making payments at any time of principal of and premium, if any, or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities of any series or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: NYSE Holdings LLC

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities Notes shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 1102 or under the conditions described in Section 1203 1103 or 12041104, from making payments at any time of principal of and premium, if any, or interest on the SecuritiesNotes, or (b) the application by the Trustee or any Paying Agent of any money moneys deposited with it hereunder to the payment of or on account of the principal of and or premium, if any, or interest on the Securities or Notes and the retention of such payment by the Holders, Holders of any moneys so received if, at the time of such application by payment, the Trustee, it Trustee or such Paying Agent did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Indenture (Surety Capital Corp /De/)

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 1202, or under the conditions described in Section Sections 1203 or and 1204, from making payments at any time of principal of (and premium, if any, ) or interest on the Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: Southern Mineral Corp

Payment Permitted If No Default. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities Notes shall prevent (a) the a)the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1202 or under the conditions described in Section 1203 or 1204, from making payments at any time of principal of and premium, if any, or interest on in the SecuritiesNotes, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of and premium, if any, or interest on the Securities Notes or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article.

Appears in 1 contract

Samples: GBC Bancorp

Payment Permitted If No Default. Nothing contained in this Article Thirteen or elsewhere in this Indenture or in any of the Securities Notes shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, general assignment for the benefit of creditors or other marshalling marshaling of assets and liabilities of the Company referred to in Section 1202 13.2 or under the conditions described in Section 1203 or 120413.3, from making 77 payments at any time of principal of and (premium, if any, ) or interest on the SecuritiesNotes, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any, ) or interest on the Securities Notes or the retention of such payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this ArticleArticle Thirteen.

Appears in 1 contract

Samples: Signature Resorts Inc

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