Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 14 contracts

Samples: Indenture (EnLink Midstream Partners, LP), Indenture (Spectra Energy Partners, LP), Indenture (Spectra Energy Partners, LP)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 13 contracts

Samples: Indenture (USA Compression Finance Corp.), Indenture (CNX Coal Finance Corp.), Indenture (CNX Coal Finance Corp.)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 13 contracts

Samples: Indenture (ACRES Commercial Realty Corp.), Indenture (RAIT Financial Trust), Indenture (RAIT Financial Trust)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 8 contracts

Samples: Indenture (EXLP Finance Corp.), Indenture (EXLP Leasing LLC), Stonemor Florida Subsidiary LLC

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Partnership shall pay to the Trustee (or, if the Partnership is acting as its own paying agent, the Partnership shall segregate and hold in trust) in cash a sum equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 7 contracts

Samples: Indenture (Williams Energy Partners L P), Indenture (Jonah Gas Gathering Co), Indenture (Te Products Pipeline Co Lp)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 11:00 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 6 contracts

Samples: Indenture (Vanguard Natural Resources, LLC), Indenture (Penn Virginia Resource Partners L P), Indenture (Trust Energy Company, LLC)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 11:00 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one Business Day before each sinking fund payment date, the Issuers shall pay to the Trustee (or, if the Issuers are acting as their own paying agents, the Issuers shall segregate and hold in trust) in cash a sum equal to any interest accrued to the date fixed for redemption of the Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 5 contracts

Samples: Indenture (Holly Energy Finance Corp.), SLC Pipeline LLC, HEP Navajo Southern, L.P.

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this Section ~~3.05~~14.03. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 14.03. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05.~~14.03. ARTICLE FIFTEEN

Appears in 5 contracts

Samples: Calgon Carbon Corporation, Calgon Carbon Corporation, MOB Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 5 contracts

Samples: Indenture (Turkey Creek Pipeline, LLC), Indenture (Turkey Creek Pipeline, LLC), Indenture (Regency Energy Partners LP)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 5 contracts

Samples: Indenture (Magellan Midstream Partners Lp), Indenture (Magellan Midstream Partners Lp), Indenture (Sunoco Logistics Partners Operations Lp)

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior (unless a shorter period shall be satisfactory to the Trustee) to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by ~~delivering and~~ delivery of or by crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05 (which~~ 3.10 and will also deliver or cause to be delivered to the Trustee any Debt ~~Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends~~ Securities to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment dateso delivered. Failure of the Partnership to timely deliver or cause to be delivered such ~~certificate (or to deliver the~~ Officers’ Certificate and Debt Securities specified in this paragraph) , if any, shall not constitute a ~~Default,~~ default but ~~such failure~~ shall ~~require~~ constitute the election of the Partnership (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date ~~for that series~~ shall be paid entirely in cash ~~and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment~~ without the option to deliver or credit Debt Securities of such series in respect thereof and (ii) that the Partnership will make no optional sinking fund payment with respect to such series as provided in this Section ~~3.05 and without~~ 3.11. If the ~~right to make any optional sinking fund payment, if any, with respect to such series. Any~~ sinking fund payment or payments (mandatory or ~~optional~~optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash ~~which~~ shall ~~equal or~~ exceed $100,000 (or the Dollar equivalent thereof based on the applicable Exchange Rate on the date of original issue of the applicable Debt Securities) or a lesser sum if the Partnership shall so ~~request)~~ request with respect to the Debt Securities of any particular ~~series~~ series, such cash shall be applied ~~by the Trustee~~ on the next succeeding sinking fund payment date ~~on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment)~~ to the redemption of ~~such~~ Debt Securities of such series at ~~the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of~~ the sinking fund redemption price together with ~~any~~ accrued interest to the date fixed for redemption. ~~Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities~~ If such amount shall be ~~added to~~ $100,000 (or the ~~next cash~~ Dollar equivalent thereof as aforesaid) or less and the Partnership makes no such request then it shall be carried over until a sum in excess of $100,000 (or the Dollar equivalent thereof as aforesaid) is available. Not less than 30 days before each such sinking fund payment ~~received by~~ date, the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 3.03 and ~~the Partnership shall~~ cause notice of the redemption thereof to be given in the name of and at the expense of the Partnership in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~3.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt SecuritiesSections 3.05, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur 3.06 and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.053.07.

Appears in 4 contracts

Samples: Indenture (Energy Transfer LP), Indenture (Energy Transfer Partners, L.P.), Energy Transfer LP

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as PROVIDED pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be irrevocable ~~and~~ and, upon its ~~delivery~~ delivery, the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not redeem any~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of ~~a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for~~ such series ~~during~~ are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the ~~continuance of a Default in payment of~~ principal and any interest ~~on such~~ accrued to the Redemption Date for Debt Securities or ~~of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect~~ portions thereof to be redeemed on such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date ~~for such Debt Securities on which such money may be applied~~ pursuant to ~~the provisions of~~ this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 4 contracts

Samples: Indenture (Hilton Hotels Corp), Indenture (Hilton Hotels Corp), Park Place Entertainment Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which~~ 14.2 and shall state the basis for such credit and that such Debt ~~Securities, if~~ Securities have not previously ~~redeemed, will accompany such certificate)~~ been so credited and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such series at such time. If the sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash shall exceed $50,000 (or a lesser sum if the Company shall so request with respect to the Debt Securities of any series), such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Debt Securities of such series at the sinking fund redemption price thereof together with accrued interest thereon to the date fixed for redemption. If such amount shall be $50,000 (or such lesser sum) or less and the Company makes no such request then it shall be carried over until a sum in excess of $50,000 (or such lesser sum) is available. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series ~~shall~~ shall, subject to the preceding paragraph, be applied by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.3 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.4. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.6. ~~The~~ On or before 10:00 a.m. (New York City time) on each sinking fund payment date, the Company shall pay to the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.4) in cash a sum equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee, any Paying Agent nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or ~~mail~~ give any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee or applicable Paying Agent (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee or such other Paying Agent as provided above (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05~~Section.

Appears in 4 contracts

Samples: Indenture (Energizer Holdings Inc), Sigma Aldrich Corp, Sigma Aldrich Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an ~~Officers’~~ Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be ~~irrevocable~~ irrevocable, and upon its ~~delivery~~ delivery, the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 11:00 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 4 contracts

Samples: Indenture (MPLX Lp), Senior Indenture (MPLX Lp), Indenture (MPLX Lp)

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.06) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.07 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.07 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ monies not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.07. Any and all sinking fund ~~money~~ monies with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~monies, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.05. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.06) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.07. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ monies or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ monies in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ monies thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ monies shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ monies may be applied pursuant to the provisions of this Section ~~3.05~~3.07.

Appears in 4 contracts

Samples: Warren Resources (Warren Resources of California Inc), Warren Resources (Warren Resources of California Inc), Warren Resources (Warren Resources of California Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.in

Appears in 3 contracts

Samples: Indenture (Swift Energy Co), Indenture (Swift Energy Co), Indenture (Swift Energy Co)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 3 contracts

Samples: Cornell Corrections Inc, Premier Parks Inc, Premier Parks Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment ~~or payments~~ (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 3 contracts

Samples: Indenture (ONEOK Partners LP), Indenture (ONEOK Partners LP), Indenture (ONEOK Partners LP)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 3 contracts

Samples: Genesee & Wyoming Inc, Scotts Miracle-Gro Co, Bedford Property Investors Inc/Md

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days (unless a shorter period shall be satisfactory to the Trustee) prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuer will deliver to the Trustee an ~~Officers’~~ Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Issuer intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred (which has not been waived or cured) and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuer and any Guarantor shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuer and the Guarantor to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (~~mandatory~~ mandatory, optional or ~~optional~~both) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser ~~sum~~ amount if the ~~Partnership~~ Issuer shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the next succeeding sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuer shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one Business Day before each sinking fund payment date, the Issuer or any Guarantor shall pay to the Trustee or shall otherwise provide funds available on such date for the payment (or, if the Issuer is acting as its own paying agent, or any Guarantor is acting as the paying agent, the Issuer or Guarantor, as the case may be, shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem or caused to be redeemed any Debt Securities of a series with sinking fund ~~money~~ moneys or ~~mail~~ mail, send or publish any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been ~~mailed~~ mailed, sent or published in accordance with the provisions hereof, the Trustee shall redeem or cause to be redeemed such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 3 contracts

Samples: Indenture (Jacobs Solutions Inc.), Indenture (Jacobs Engineering Group Inc /De/), Indenture (Jacobs Engineering Group Inc /De/)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 3 contracts

Samples: Indenture Tia (Range Resources Corp), Pioneer Natural Resources Co, Pioneer Natural Resources Usa Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 3 contracts

Samples: Indenture (Swift Energy Co), Indenture (Swift Energy Co), Indenture (Denbury Resources Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this ~~Article~~ ARTICLE III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 3 contracts

Samples: Indenture (Glimcher Realty Trust), Indenture (Glimcher Realty Trust), Indenture (Glimcher Realty Trust)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.1) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05Maturity.

Appears in 3 contracts

Samples: Indenture (Rga Capital Trust Ii), Reinsurance Group of America Inc, Talx Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m.~~no later than 11:00 A.M., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, ~~resolution~~ the applicable Board Resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. No later than 11:00 A.M., New York City time, on each sinking fund payment date, the Issuers shall pay to the Trustee (or, if the Partnership or PNG Finance is acting as its own paying agent, the Partnership or PNG Finance shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Senior Indenture (PNG Finance Corp.), PNG Finance Corp.

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.06) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.07 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.07 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ monies not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.07. Any and all sinking fund ~~money~~ monies with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~monies, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.05. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.06) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.07. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ monies or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ monies in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ monies thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ monies shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ monies may be applied pursuant to the provisions of this Section ~~3.05~~3.07.

Appears in 2 contracts

Samples: Warren Resources (Warren Resources of California Inc), Warren Resources of California Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether ~~the Partnership~~ either Issuer intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery ~~the Partnership~~ each Issuer shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.02, except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Indenture (Cloud Peak Energy Finance Corp.), Indenture (Cloud Peak Energy Finance Corp.)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default or Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Indenture (Chesapeake Alpha Corp), Chesapeake Orc LLC

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuer will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Issuer intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuer shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuer to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuer shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuer shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Indenture (Seadrill Partners LLC), Seadrill Partners LLC

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuer will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Issuer intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuer shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuer to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuer shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, ~~resolution~~ the applicable Board Resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuer shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Issuer shall pay to the Trustee (or, if the Partnership is acting as its own paying agent, the Partnership shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: MarkWest New Mexico LP, MarkWest New Mexico LP

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, ~~which~~ that is to be satisfied by payment of cash and the portion thereof, if any, ~~which~~ that is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash ~~which~~ that shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Indenture (Enbridge Energy Partners Lp), Enbridge Energy Partners Lp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash (except as provided pursuant to Section 3.1) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be irrevocable ~~and~~ and, upon its ~~delivery~~ delivery, the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.3 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.4. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.6. ~~The Trustee shall not redeem any Debt Securities of a series with~~ On or before each sinking fund ~~money or mail~~ payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall segregate and hold in trust as provided in Section 12.4) in cash a sum, equal to the principal and any ~~notice of redemption of such Debt Securities by operation of~~ interest accrued to the ~~sinking fund~~ Redemption Date for ~~such series during the continuance of a Default in payment of interest on such~~ Debt Securities or ~~of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect~~ portions thereof to be redeemed on such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date ~~for such Debt Securities on which such money may be applied~~ pursuant to ~~the provisions of~~ this ~~Section 3.05.~~Section. 66

Appears in 2 contracts

Samples: Trustee and Company (Metro-Goldwyn-Mayer Inc), MGM Grand Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; ~~provided~~PROVIDED, ~~however~~HOWEVER, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Indenture (Worthington Industries Inc), Indenture (Worthington Industries Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash (except as provided pursuant to Section 3.1) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be irrevocable ~~and~~ and, upon its ~~delivery~~ delivery, the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.3 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.4. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.6. ~~The Trustee shall not redeem any Debt Securities of a series with~~ On or before each sinking fund ~~money or mail~~ payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall segregate and hold in trust as provided in Section 12.4) in cash a sum equal to the principal and any ~~notice of redemption of such Debt Securities by operation of~~ interest accrued to the ~~sinking fund~~ Redemption Date for ~~such series during the continuance of a Default in payment of interest on such~~ Debt Securities or ~~of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect~~ portions thereof to be redeemed on such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date ~~for such Debt Securities on which such money may be applied~~ pursuant to ~~the provisions of~~ this ~~Section 3.05~~Section.

Appears in 2 contracts

Samples: Indenture (Pinnacle Entertainment Inc), Indenture (Pinnacle Entertainment Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, ~~resolution~~ the applicable Board Resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Indenture (Plains All American Pipeline Lp), Plains All American Pipeline Lp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case -------- ------- such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 2 contracts

Samples: Genesee & Wyoming Inc, Genesee & Wyoming Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuer will deliver to the Trustee an ~~Officers’~~ Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Issuer intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be ~~irrevocable~~ irrevocable, and upon its ~~delivery~~ delivery, the ~~Partnership~~ Issuer shall be obligated to make the cash payment or payments therein referred to, if any, by 11 11:00 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuer to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuer shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuer shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: MPLX Operations LLC, MPLX Operations LLC

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) ), the basis for such credit and that such Debt Securities have not been previously so credited and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Unit Corp, Unit Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an ~~Officers’~~ Officer's Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, ~~which~~ that, is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to SECTION 3.01) and the portion thereof, if any, ~~which~~ that is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ SECTION 13.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this Section 3.05~~ SECTION 13.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in SECTION 11.03) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in SECTION 11.03) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be e applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as it own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05Maturity.

Appears in 2 contracts

Samples: Hca Inc/Tn, Hca Inc/Tn

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail or send any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed or sent in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Indenture (Steel Dynamics Inc), Indenture (Steel Dynamics Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: Northern Border Partners Lp, Northern Border Partners Lp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in by the terms of such Debt ~~Securities, resolution or supplemental Indenture~~ Securities for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 2 contracts

Samples: Pioneer Natural Resources Usa Inc, Pioneer Natural Resources Usa Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 sixty days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (or such later date as shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ~~ensuing~~ succeeding sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05 (~~3.02 and will also deliver to the Trustee any Debt Securities to be so credited which ~~Debt Securities, if~~ have not ~~previously redeemed, will accompany~~ theretofore been delivered. Not less than thirty days before each such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date~~. Failure~~ , the Trustee shall select the Debt Securities of such series to be redeemed upon such sinking fund payment date in the manner specified in Article Four and cause notice of the ~~Partnership~~ redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Article Four. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Article Four. In the case of the failure of the Company to deliver such ~~certificate~~ Officers’ Certificate when due (or to deliver the Debt Securities specified in this ~~paragraph~~Section 3.03) ~~shall not constitute a Default, but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 3.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date ~~following~~ next succeeding the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt ~~Securities, resolution or supplemental Indenture~~ Securities for operation of the sinking ~~fund~~ fund, together with ~~any~~ accrued ~~interest~~ interest, if any, to the date fixed for redemption. ~~Any~~ Subject to the provisions of Section 13.05, any sinking fund ~~money~~ payment not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.03. ~~Any~~ Subject to the provisions of Section 13.05, any and all sinking fund ~~money~~ payments with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series ~~and not held for the payment or redemption of particular Debt Securities~~ shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.maturity. ARTICLE FOUR

Appears in 2 contracts

Samples: Indenture (Cooper Crouse-Hinds, LLC), Indenture (Cooper Industries LTD)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an ~~Officers’~~ Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by ~~11 a.m.~~12 p.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 2 contracts

Samples: MPT Operating Partnership, L.P., MPT of West Anaheim, LLC

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 (unless otherwise specified pursuant to Section 3.01) and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case -------- ------- such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 2 contracts

Samples: Intermedia Communications Inc, Intermedia Communications Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.1) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series ~~and not held for~~ at the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner Redemption Price specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to ~~such Debt Securities, except that if~~ the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.sinking

Appears in 1 contract

Samples: Indenture (Rga Capital Trust Ii)

Redemption of Debt Securities for Sinking Fund. Not less than 60 sixty days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (or such later date as shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an ~~Officers’~~ Officer's Certificate specifying the amount of the next ~~ensuing~~ succeeding sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05 (~~3.02 and will also deliver to the Trustee any Debt Securities to be so credited which ~~Debt Securities, if~~ have not ~~previously redeemed, will accompany~~ theretofore been delivered. Not less than thirty days before each such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date~~. Failure~~ , the Trustee shall select the Debt Securities of such series to be redeemed upon such sinking fund payment date in the manner specified in Article Four and cause notice of the ~~Partnership~~ redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Article Four. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Article Four. In the case of the failure of the Company to deliver such ~~certificate~~ Officer's Certificate when due (or to deliver the Debt Securities specified in this ~~paragraph~~Section 3.03) ~~shall not constitute a Default, but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 3.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date ~~following~~ next succeeding the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt ~~Securities, resolution or supplemental Indenture~~ Securities for operation of the sinking ~~fund~~ fund, together with ~~any~~ accrued ~~interest~~ interest, if any, to the date fixed for redemption. ~~Any~~ Subject to the provisions of Section 13.05, any sinking fund ~~money~~ payment not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.03. ~~Any~~ Subject to the provisions of Section 13.05, any and all sinking fund ~~money~~ payments with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series ~~and not held for the payment or redemption of particular Debt Securities~~ shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05maturity.

Appears in 1 contract

Samples: Nucor Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuer will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Issuer intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuer shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuer to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuer shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: H&r Block Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.Debt

Appears in 1 contract

Samples: Indenture (Pacific Energy Group LLC)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.02, except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one Business Day before each sinking fund payment date, the Partnership shall pay to the Trustee (or, if the Partnership is acting as its own paying agent, the Partnership shall segregate and hold in trust) in cash a sum equal to any interest accrued to the Redemption Date of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Indenture (Te Products Pipeline Co LLC)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 11:00 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Indenture (Hep Slc, LLC)

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.05) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.07 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.07 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ monies not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.07. Any and all sinking fund ~~money~~ monies with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~monies, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.05. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.05) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.07. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ monies or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ monies in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ monies thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ monies shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ monies may be applied pursuant to the provisions of this Section ~~3.05~~3.07.

Appears in 1 contract

Samples: Indenture (American Oil & Gas Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers~~’ Certificate~~ ' Certificate, which need not contain the statements required by Section 13.05, specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05 (~~3.05, which Debt Securities, if not previously redeemed, will accompany such certificate) , and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such ~~certificate (~~certificate, or to deliver the Debt Securities specified in this paragraph) , shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any mandatory or optional sinking fund payment or payments ~~(mandatory or optional)~~ made in cash plus any unused balance of any preceding sinking fund payments made in cash ~~which~~ that shall equal or exceed $~~100,000 (~~50,000, or a lesser sum if the ~~Partnership~~ Company shall so request) , with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is ~~made (~~made, or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such ~~payment)~~ payment to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee, or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust, in cash a sum equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of ~~Default (~~Default, other than an Event of Default occurring as a consequence of this paragraph) , with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Luminent Mortgage Capital Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, by 11 11:00 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Supplemental Indenture (Enterprise Products Partners L P)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01 or 3.10) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment~~payment (or such amount so segregated), shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities and Coupons, if any, of such ~~Debt Securities~~series; provided, -------- however, that in case such ~~Default~~ default or Event of Default shall have been cured or ------- waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 1 contract

Samples: TMS Venture Holdings Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05~~ 3.04 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 3.04 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.. Exhibit 4.1 --------

Appears in 1 contract

Samples: Boardwalk Pipeline Partners, LP

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) ), the basis for such credit and that such Debt Securities have not been previously so credited and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article ~~III~~3. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Unit Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash (except as provided pursuant to Section 3.1) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be irrevocable ~~and~~ and, upon its ~~delivery~~ delivery, the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.3 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.4. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.6. ~~The Trustee shall not redeem any Debt Securities of a series with~~ On or before each sinking fund ~~money or mail~~ payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall segregate and hold in trust as provided in Section 12.4) in cash a sum, equal to the principal and any ~~notice of redemption of such Debt Securities by operation of~~ interest accrued to the ~~sinking fund~~ Redemption Date for ~~such series during the continuance of a Default in payment of interest on such~~ Debt Securities or ~~of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect~~ portions thereof to be redeemed on such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date ~~for such Debt Securities on which such money may be applied~~ pursuant to ~~the provisions of~~ this ~~Section 3.05~~Section.

Appears in 1 contract

Samples: Indenture (MGM Grand Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or ~~mail~~ send any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been ~~mailed~~ sent in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Indenture (EnLink Midstream, LLC)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next 48 succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of or any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one Business Day before such sinking Fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as it own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Guarantee Agreement (Methanex Corp)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, ~~which~~ that is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, ~~which~~ that is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with 27 respect to such series. Such certificate shall be ~~irrevocable~~ irrevocable, and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Pioneer Natural Resources Co

Redemption of Debt Securities for Sinking Fund. Not ----------------------------------------------- less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been -------- ------- cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Chirex Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, ~~resolution~~ the applicable Board Resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.together

Appears in 1 contract

Samples: Eott Energy Operating Lp

Redemption of Debt Securities for Sinking Fund. Not less than 60 50 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee ~~an Officers’ Certificate~~ a certificate signed by a Vice President or the Treasurer or any Assistant Treasurer of the Company specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash (which cash may be deposited with the Trustee or with one or more paying agents, or if the Company is acting as its own paying agent segregated and held in trust as provided in Section 4.04) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05~~ 3.04 (which Debt Securities, if not ~~previously redeemed~~theretofore delivered, will accompany such certificate, such certificate to set forth the basis for such credit and to state that such Debt Securities have not been previously so credited) and whether the ~~Partnership~~ Company intends to exercise its right to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph~~) shall not constitute a Default~~), ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 3.04 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so ~~request~~request or determine) with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own paying agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking 11 fund payment date, on the next sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt ~~Securities, resolution or supplemental Indenture~~ Securities for operation of the sinking fund together with ~~any~~ accrued ~~interest~~ interest, if any, to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own paying agent) to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee (or if the Company is acting as its own paying agent, segregated and held in trust as provided in Section 4.04) for such series and, together with such ~~payment~~payment (or such amount so segregated), shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own paying agent, segregated and held in trust as provided in Section 4.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own paying agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at ~~its Stated Maturity~~maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee in cash (or if the Company is acting as its own paying agent will segregate and hold in trust as provided in Section 4.04) a sum equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall ~~not~~ redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee (or the Company if the Company is acting as its own paying agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. 12

Appears in 1 contract

Samples: McDonalds Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, ~~resolution~~ the applicable Board Resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Partnership shall pay to the Trustee (or, if the Partnership is acting as its own paying agent, the Partnership shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article ~~III~~3. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Indenture (Valero L P)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) ), the basis for such credit, that such Debt Securities have not previously been so credited and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a 50 41 mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. On or prior to each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except 51 42 as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Sherwin Williams Co

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an ~~Officers’~~ Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 13.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 13.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such series at such time. If the sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash shall exceed $50,000 (or a lesser sum if the Company shall so request with respect to the Debt Securities of any series), such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Debt Securities of such series at the sinking fund redemption price thereof together with accrued interest thereon to the date fixed for redemption. If such amount shall be $50,000 (or such lesser sum) or less and the Company makes no such request then it shall be carried over until a sum in excess of $50,000 (or such lesser sum) is available. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series ~~shall~~ shall, subject to the preceding paragraph, be applied by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 11.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 11.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 12.3 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~12.4. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~12.6. ~~The~~ On or before 10:00 a.m. (New York City time) on each sinking fund payment date, the Company shall pay to the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 11.4) in cash a sum equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee, any Paying Agent nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or ~~mail~~ give any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee or applicable Paying Agent (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee or such other Paying Agent as provided above (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05~~Section.

Appears in 1 contract

Samples: Indenture (Heritage Financial Group Inc)

Appears in 1 contract

Samples: Indenture (Cooper Industries, Ltd.)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuer will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Issuer intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuer shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuer to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuer shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuer shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Issuer shall pay to the Trustee (or, if the Company or BFC is acting as paying agent, the Issuer shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: H&r Block Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior (unless a shorter period shall be satisfactory to the Trustee) to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by ~~delivering and~~ delivery of or by crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05 (which~~ 3.10 and will also deliver or cause to be delivered to the Trustee any Debt ~~Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends~~ Securities to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment dateso delivered. Failure of the Partnership to timely deliver or cause to be delivered such ~~certificate (or to deliver the~~ Officers' Certificate and Debt Securities specified in this paragraph) , if any, shall not constitute a ~~Default,~~ default but ~~such failure~~ shall ~~require~~ constitute the election of the Partnership (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date ~~for that series~~ shall be paid entirely in cash ~~and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment~~ without the option to deliver or credit Debt Securities of such series in respect thereof and (ii) that the Partnership will make no optional sinking fund payment with respect to such series as provided in this Section ~~3.05 and without~~ 3.11. If the ~~right to make any optional sinking fund payment, if any, with respect to such series. Any~~ sinking fund payment or payments (mandatory or ~~optional~~optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash ~~which~~ shall ~~equal or~~ exceed $100,000 (or the Dollar equivalent thereof based on the applicable Exchange Rate on the date of original issue of the applicable Debt Securities) or a lesser sum if the Partnership shall so ~~request)~~ request with respect to the Debt Securities of any particular ~~series~~ series, such cash shall be applied ~~by the Trustee~~ on the next succeeding sinking fund payment date ~~on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment)~~ to the redemption of ~~such~~ Debt Securities of such series at ~~the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of~~ the sinking fund redemption price together with ~~any~~ accrued interest to the date fixed for redemption. ~~Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities~~ If such amount shall be ~~added to~~ $100,000 (or the ~~next cash~~ Dollar equivalent thereof as aforesaid) or less and the Partnership makes no such request then it shall be carried over until a sum in excess of $100,000 (or the Dollar equivalent thereof as aforesaid) is available. Not less than 30 days before each such sinking fund payment ~~received by~~ date, the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 3.03 and ~~the Partnership shall~~ cause notice of the redemption thereof to be given in the name of and at the expense of the Partnership in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~3.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt SecuritiesSections 3.05, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur 3.06 and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.053.07.

Appears in 1 contract

Samples: Energy Transfer Partners, L.P.

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Worthington Industries Inc

Redemption of Debt Securities for Sinking Fund. Not ---------------------------------------------- less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in by the terms of such Debt ~~Securities, resolution or supplemental Indenture~~ Securities for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been -------- ------- cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Electronic Data Systems Corp /De/

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; ~~provided~~PROVIDED, ~~however~~HOWEVER, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 1 contract

Samples: Scotts Company

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, ~~the portion thereof, if any, which is to be satisfied by payment of cash~~ and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ monies not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ monies with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~monies, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ monies or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ monies in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ monies thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ monies shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ monies may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Bill Barrett Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund ~~payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such~~ payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: TCTM L P

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01 or Section 3.10) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case -------- ------- such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 1 contract

Samples: Aramark Services Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 13.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 13.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such series at such time. If the sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash shall exceed $50,000 (or a lesser sum if the Company shall so request with respect to the Debt Securities of any series), such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Debt Securities of such series at the sinking fund redemption price thereof together with accrued interest thereon to the date fixed for redemption. If such amount shall be $50,000 (or such lesser sum) or less and the Company makes no such request then it shall be carried over until a sum in excess of $50,000 (or such lesser sum) is available. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series ~~shall~~ shall, subject to the preceding paragraph, be applied by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 11.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 11.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 12.3 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~12.4. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~12.6. ~~The~~ On or before 10:00 a.m. (New York City time) on each sinking fund payment date, the Company shall pay to the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 11.4) in cash a sum equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee, any Paying Agent nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or ~~mail~~ give any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee or applicable Paying Agent (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee or such other Paying Agent as provided above (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05~~Section.

Appears in 1 contract

Samples: Indenture (Reinsurance Group of America Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 45 days (unless a shorter period shall be satisfactory to the Trustee) prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred (which has not been waived or cured) and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (~~mandatory~~ mandatory, optional or ~~optional~~both) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser ~~sum~~ amount if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the next succeeding sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one Business Day before each sinking fund payment date, the Company shall pay to the Trustee or shall otherwise provide funds available on such date for the payment (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem or caused to be redeemed any Debt Securities of a series with sinking fund ~~money~~ moneys or ~~mail~~ mail, send or publish any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed or sent in accordance with the provisions hereof, the Trustee shall redeem or cause to be redeemed such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Quanta Services, Inc.

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as PROVIDED pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be irrevocable ~~and~~ and, upon its ~~delivery~~ delivery, the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not redeem any~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of ~~a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for~~ such series ~~during~~ are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the ~~continuance of a Default in payment of~~ principal and any interest ~~on such~~ accrued to the Redemption Date for Debt Securities or ~~of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect~~ portions thereof to be redeemed on such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date ~~for such Debt Securities on which such money may be applied~~ pursuant to ~~the provisions of~~ this ~~Section 3.05.~~Section. ARTICLE FIFTEEN DEFEASANCE

Appears in 1 contract

Samples: Indenture (Harrahs Entertainment Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be Senior Indenture 71 irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be Senior Indenture 72 deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN DEFEASANCE

Appears in 1 contract

Samples: Tesoro Alaska Co

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for ~~that series~~ such Debt Securities pursuant to the terms of ~~that series, any resolution or supplemental Indenture~~such Debt Securities, the portion thereof, ; if any, which is to be satisfied by payment of cash in the currency in which the Debt Securities of such series are payable (except as provided pursuant to Section 3.1) and the portion thereof, ; if any, which is to be satisfied by delivering and crediting Debt Securities ~~of that series~~ pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed,~~ 12.2 and will ~~accompany such certificate) and whether~~ also deliver to the ~~Partnership intends~~ Trustee any Securities to ~~exercise its right to make any permitted optional sinking fund payment with respect to such series~~be so delivered. Such ~~certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate~~ Officers' Certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company and the Guarantor shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the ~~next~~ succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate~~ Officers' Certificate (~~or to deliver~~ or, as required by this Indenture, the Debt Securities and coupons, if any, specified in ~~this paragraph) shall not constitute a Default~~such Officers' Certificate), ~~but such failure shall require that~~ the sinking fund payment due on the ~~next~~ succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit ~~Debt Securities~~ securities as provided in ~~this~~ Section ~~3.05~~ 12.2 and without the right to make ~~any~~ the optional sinking fund ~~payment, if any,~~ payment with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at ~~its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon~~ such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05time.

Appears in 1 contract

Samples: FPC Capital Ii

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Indenture (Pacific Atlantic Terminals LLC)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, ~~which~~ that is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, ~~which~~ that is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be ~~irrevocable~~ irrevocable, and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Pioneer Natural Resources Co

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: TCTM L P

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05~~ 3.4 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 3.4 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.5. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.2 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.2 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.3. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.5.

Appears in 1 contract

Samples: Rayonier Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund money not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund money with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other money, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Kaneb Pipe Line Operating Partnership Lp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN Defeasance

Appears in 1 contract

Samples: Magnum Hunter Resources Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Enterprise Products Partners L P

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Issuers will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership intends~~ Issuers intend to exercise ~~its~~ their right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Issuers shall be obligated to make the cash payment or payments therein referred to, if any, by 11 11:00 a.m., New York City time, on the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Issuers to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Issuers shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Issuers shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Issuers shall pay to the Trustee (or, if the Issuers are acting as their own paying agents, the Issuers shall segregate and hold in trust) in cash a sum equal to any interest accrued to the date fixed for redemption of the Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Senior Indenture (HEP Mountain Home, L.L.C.)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and ~~whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate~~ shall also ~~state that no Event of Default has occurred and is continuing with respect~~ deliver to ~~such series~~the Trustee any Debt Securities to be so delivered. ~~Such certificate shall be irrevocable and upon its delivery~~ In the ~~Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date. Failure~~ case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before (but, if payment is to be made outside the United States, at least one Business Day prior to) each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions 104 thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities and Coupons, if any, of such ~~Debt Securities~~series; provided, -------- however, that in case such ~~Default~~ default or Event of Default shall have been cured or ------- waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 1 contract

Samples: Indenture (Sunoco Inc)

Redemption of Debt Securities for Sinking Fund. Not less than 60 sixty (60) days prior to each sinking fund payment date for any ~~series~~ Series of Debt ~~Securities~~Securities (or such later date as shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an ~~Officers’~~ Officer’s Certificate specifying the amount of the next ~~ensuing~~ succeeding sinking fund payment for that ~~series~~ Series pursuant to the terms of that ~~series, any resolution or supplemental Indenture~~Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that ~~series~~ Series pursuant to ~~this~~ Section ~~3.05~~ 3.02 and will also deliver to the Trustee any Debt Securities to be so credited which have not theretofore been delivered. Not less than thirty (~~which Debt Securities, if not previously redeemed, will accompany~~ 30) days before each such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next succeeding sinking fund payment date~~. Failure~~ , the Trustee shall select the Debt Securities of such Series to be redeemed upon such sinking fund payment date in the manner specified in Article Four and cause notice of the ~~Partnership~~ redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Article Four. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Article Four. In the case of the failure of the Company to deliver such ~~certificate~~ Officer’s Certificate when due (or to deliver the Debt Securities specified in this ~~paragraph) shall not constitute a Default~~Section 3.03), ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for that ~~series~~ Series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 3.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~Series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any ~~particular series~~ Series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date ~~following~~ next succeeding the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt ~~Securities, resolution or supplemental Indenture~~ Securities for operation of the sinking ~~fund~~ fund, together with ~~any~~ the premium (if any) and accrued and unpaid interest (if any) to the date fixed for redemption. ~~Any~~ Subject to the provisions of Section 13.05, any sinking fund ~~money~~ payment not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such ~~series~~ Series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.03. ~~Any~~ Subject to the provisions of Section 13.05, any and all sinking fund ~~money~~ payments with respect to the Debt Securities of any ~~particular series~~ Series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such ~~series and not held for the payment or redemption of particular Debt Securities~~ Series shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that series~~ such Series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. The Trustee shall not redeem any Debt Securities of a series with sinking fund money or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such money may be applied pursuant to the provisions of this Section 3.05maturity.

Appears in 1 contract

Samples: Indenture (Nucor Corp)

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section ~~3.05~~ 3.06 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities and Coupons, if any, specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section ~~3.05~~ 3.06 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section ~~3.05~~3.06. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02~~ 3.03 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~3.04. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.06. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section ~~3.05~~3.06.

Appears in 1 contract

Samples: Pioneer Natural Resources Co

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate (which need not contain the statements required by Section 13.05) specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any resolution or supplemental ~~Indenture~~indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the ~~Partnership~~ Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall ~~also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall~~ be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the ~~Partnership~~ Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $~~100,000~~ 50,000 (or a lesser sum if the ~~Partnership~~ Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the ~~redemption price~~ Redemption Price specified in such Debt Securities, resolution or supplemental ~~Indenture~~ indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own paying agent, the Company shall segregate and hold in trust) in cash a sum equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Event of Default or ~~Event of~~ Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: American Home Mortgage Investment Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01 or 3.10) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment~~payment (or such amount so segregated), shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities and Coupons, if any, of such ~~Debt Securities~~series; ~~provided~~PROVIDED, ~~however~~HOWEVER, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 1 contract

Samples: Money Store Inc /Nj

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be Senior Indenture 26 satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, ~~resolution~~ the applicable Board Resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Partnership shall pay to the Trustee (or, if the Partnership is acting as its own paying agent, the Partnership shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such Senior Indenture 27 series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article ~~III~~3. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Kaneb Pipe Line Operating Partnership Lp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities and Coupons, if any, of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05~~Section.

Appears in 1 contract

Samples: Prison Realty Trust Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Partnership will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, any ~~resolution~~ Board Resolution or supplemental Indenture, the portion thereof, if any, which is to be 26 Senior Indenture satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate) and whether the Partnership intends to exercise its right to make any permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Partnership shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. Failure of the Partnership to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt Securities, ~~resolution~~ the applicable Board Resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be applied by the Trustee, together with other ~~money~~moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section 3.02, and the Partnership shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. At least one business day before each sinking fund payment date, the Partnership shall pay to the Trustee (or, if the Partnership is acting as its own paying agent, the Partnership shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. The Trustee shall not redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of such Debt Securities by operation of the sinking fund for such 27 Senior Indenture series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article ~~III~~3. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such ~~money~~ moneys may be applied pursuant to the provisions of this Section 3.05.

Appears in 1 contract

Samples: Kaneb Pipe Line Operating Partnership Lp

Redemption of Debt Securities for Sinking Fund. Not less than 60 50 days prior to each sinking fund payment date for any series of Debt Securities, the ~~Partnership~~ Company will deliver to the Trustee ~~an Officers’ Certificate~~ a certificate signed by a Vice President or the Treasurer or any Assistant Treasurer of the Company specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash (which cash may be deposited with the Trustee or with one or more paying agents, or if the Company is acting as its own paying agent segregated and held in trust as provided in Section 4.04) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to ~~this~~ Section ~~3.05~~ 3.04 (which Debt Securities, if not ~~previously redeemed~~theretofore delivered, will accompany such certificate, such certificate to set forth the basis for such credit and to state that such Debt Securities have not been previously so credited) and whether the ~~Partnership~~ Company intends to exercise its right to make ~~any~~ a permitted optional sinking fund payment with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph~~) shall not constitute a Default~~), ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 3.04 and without the right to make any optional sinking fund payment, if any, with respect to such series. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the ~~Partnership~~ Company shall so ~~request~~request or determine) with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own paying agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the next sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt ~~Securities, resolution or supplemental Indenture~~ Securities for operation of the sinking fund together with ~~any~~ accrued ~~interest~~ interest, if any, to the date fixed for redemption. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own paying agent) to the redemption of Debt Securities shall be added to the next cash sinking fund payment received by the Trustee (or if the Company is acting as its own paying agent, segregated and held in trust as provided in Section 4.04) for such series and, together with such ~~payment~~payment (or such amount so segregated), shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own paying agent, segregated and held in trust as provided in Section 4.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own paying agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at ~~its Stated Maturity~~maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last paragraph of Section ~~3.02,~~ 3.02 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. ~~The Trustee shall not redeem any Debt Securities of a series with~~ On or before each sinking fund ~~money~~ payment date, the Company shall pay to the Trustee in cash (or ~~mail~~ if the Company is acting as its own paying agent will segregate and hold in trust as provided in Section 4.04) a sum equal to any ~~notice of~~ interest accrued to the date fixed for redemption of ~~such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such~~ Debt Securities or ~~of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect~~ portions thereof to be redeemed on such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid, any money in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any money thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of such Debt Securities; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such money shall thereafter be applied on the next sinking fund payment date ~~for such Debt Securities on which such money may be applied~~ pursuant to ~~the provisions of~~ this ~~Section 3.05.~~Section. 12

Appears in 1 contract

Samples: McDonalds Corp

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, ~~any resolution or supplemental Indenture,~~ the portion thereof, if any, which is to be satisfied by payment of cash in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.1) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.2 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.2 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) for such series and, together with such ~~payment,~~ payment (or such amount so segregated) shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.4) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.3 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.4. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.6. ~~The~~ On or before 10:00 a.m. (New York City time) on each sinking fund payment date, the Company shall pay to the Trustee (to the extent it is acting as a Paying Agent with respect to Dollars) or other Paying Agent appointed by the Company (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.4) in cash a sum, in the Currency or Currencies in which Debt Securities of such series are denominated (except as provided pursuant to Sections 3.1 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee, any Paying Agent nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a ~~Default~~ default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee or applicable Paying Agent (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee or such other Paying Agent as provided above (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such ~~Default~~ default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such ~~Default~~ default or Event of Default, be held as security for the payment of the Debt Securities of such ~~Debt Securities~~series; provided, however, that in case such ~~Default~~ default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be applied on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be applied pursuant to the provisions of this ~~Section 3.05~~Section.

Appears in 1 contract

Samples: Reinsurance Group of America Inc

Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt ~~Securities~~Securities (unless a shorter period shall be satisfactory to the Trustee), the ~~Partnership~~ Company will deliver to the Trustee an Officers’ ' Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series~~, any resolution or supplemental Indenture~~, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of ~~that~~ such series pursuant to ~~this~~ Section ~~3.05 (which Debt Securities, if not previously redeemed, will accompany such certificate)~~ 14.02 and whether the ~~Partnership~~ Company intends to exercise its ~~right~~ rights to make ~~any~~ a permitted optional sinking fund payment ~~with respect to such series. Such certificate shall also state that no Event of Default has occurred and is continuing~~ with respect to such series. Such certificate shall be irrevocable and upon its delivery the ~~Partnership~~ Company shall be obligated to make the cash payment or payments therein referred to, if any, ~~by 11 a.m., New York City time,~~ on or before the next succeeding sinking fund payment date. ~~Failure~~ In the case of the ~~Partnership~~ failure of the Company to deliver such ~~certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a Default~~certificate, ~~but such failure shall require that~~ the sinking fund payment due on the next succeeding sinking fund payment date for ~~that~~ such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of ~~such~~ the Debt Securities of such series subject to a mandatory sinking fund payment without the ~~option~~ right to deliver or credit Debt Securities as provided in ~~this~~ Section ~~3.05~~ 14.02 and without the right to make any optional sinking fund ~~payment, if any,~~ payment with respect to such ~~series~~series at such time. Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made ~~in cash which shall equal or exceed $100,000 (or a lesser sum if the Partnership shall so request)~~ with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of ~~such~~ Debt Securities of such series at the ~~redemption price~~ Redemption Price specified in such Debt ~~Securities, resolution or supplemental Indenture for operation of~~ Securities with respect to the sinking ~~fund together with any accrued interest to the date fixed for redemption~~fund. Any sinking fund ~~money~~ moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next ~~cash~~ sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such ~~payment~~payment (or such amount so segregated), shall be applied in accordance with the provisions of this ~~Section 3.05~~Section. Any and all sinking fund ~~money~~ moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the ~~Trustee~~Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other ~~money~~moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of ~~that~~ such series at ~~its Stated~~ Maturity. The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in ~~the last paragraph of~~ Section ~~3.02,~~ 13.03 and the ~~Partnership~~ Company shall cause notice of the redemption thereof to be given in the manner provided in Section ~~3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by operation of the sinking fund~~13.04. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section ~~3.03~~13.06. ~~The~~ On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall ~~not~~ segregate and hold in trust as provided in Section 12.04) in cash a sum equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. Neither the Trustee nor the Company shall redeem any Debt Securities of a series with sinking fund ~~money~~ moneys or mail any notice of redemption of ~~such~~ Debt Securities of such series by operation of the sinking fund for such series during the continuance of a Default in payment of ~~interest~~ interest, if any, on ~~such~~ any Debt Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such ~~Debt Securities~~series, except that if the notice of redemption ~~of any such Debt Securities~~ shall ~~theretofore~~ have been ~~mailed~~ provided in accordance with the provisions hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in accordance with the terms of this ~~Article III~~Article. Except as aforesaid, any ~~money~~ moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur and any ~~money~~ moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of the Debt Securities and Coupons, if any, of such ~~Debt Securities~~series; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such ~~money~~ moneys shall thereafter be ~~applied~~ applied, on or prior to the next sinking fund payment date for ~~such~~ the Debt Securities of such series on which such ~~money~~ moneys may be ~~applied~~ applied, pursuant to the provisions of this ~~Section 3.05.~~Section. ARTICLE FIFTEEN

Appears in 1 contract

Samples: Pledge Agreement (Maxxam Inc)

Common use of Redemption of Debt Securities for Sinking Fund Clause in Contracts