AND COVENANT DEFEASANCE Sample Clauses
The "And Covenant Defeasance" clause allows a borrower or issuer to be released from certain restrictive covenants in a contract, typically after meeting specific conditions such as depositing sufficient funds or securities to cover future payments. In practice, this means that once the required assets are set aside, the issuer is no longer bound by obligations like maintaining certain financial ratios or restrictions on additional debt. The core function of this clause is to provide flexibility to the issuer by removing ongoing covenant restrictions, often in exchange for securing the interests of the lender or bondholders through the dedicated funds, thereby reducing the risk of default on those covenants.
AND COVENANT DEFEASANCE. SECTION 1401. APPLICABILITY OF ARTICLE;
AND COVENANT DEFEASANCE. Company’s Option to Effect Defeasance or Covenant Defeasance 50 Section 13.2 Defeasance and Discharge 50 Section 13.3 Covenant Defeasance 50 Section 13.4 Conditions to Defeasance or Covenant Defeasance 51
AND COVENANT DEFEASANCE. Section 1501. Company's Option to Effect Defeasance or Covenant ------------- Defeasance..............................................65 ---------- Section 1502. Defeasance and Discharge................................65 ------------- ------------------------- Section 1503. Covenant Defeasance.....................................65 ------------- -------------------- Section 1504. Conditions to Defeasance or Covenant Defeasance...
AND COVENANT DEFEASANCE. Section 1301. Company’s Option to Effect Defeasance or Covenant Defeasance 147 Section 1302. Defeasance and Discharge 147 Section 1303. Covenant Defeasance 147 Section 1304. Conditions to Defeasance or Covenant Defeasance 148 Section 1305. Deposited Money and Government Securities to Be Held in Trust; Miscellaneous Provisions 149 Section 1306. Reinstatement 150
AND COVENANT DEFEASANCE. SECTION 14.01 Company’s Option to Effect Defeasance or Covenant Defeasance. Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, the provisions of this Article Fourteen shall apply to each series of Securities, and the Company may, at its option, effect defeasance of the Securities of or within a series under Section 14.02, or covenant defeasance of or within a series under Section 14.03 in accordance with the terms of such Securities and in accordance with this Article Fourteen.
AND COVENANT DEFEASANCE. Section 1201. Issuer's Option to Effect Defeasance or Covenant Defeasance....
AND COVENANT DEFEASANCE. Section 1401 Applicability of Article; Company’s and Guarantor’s Option to Effect Defeasance or Covenant Defeasance 85 Section 1402 Defeasance and Discharge 85 Section 1403 Covenant Defeasance 86 Section 1404 Conditions to Defeasance or Covenant Defeasance 86 Section 1405 Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions 88
AND COVENANT DEFEASANCE. SECTION 1201. Company's Option to Effect Defeasance orCovenant Defeasance. 114 SECTION 1202. Defeasance and Discharge . . . . . . . . . . . . . . . . . . 115 SECTION 1203. Covenant Defeasance. . . . . . . . . . . . . . . . . . . . . 115 SECTION 1204. Conditions to Defeasance orCovenant Defeasance . . . .
AND COVENANT DEFEASANCE. Section 10.01.
AND COVENANT DEFEASANCE. Applicability of Article; Company's Option to Effect Defeasance or Covenant Defeasance ...............72