Deposit of Redemption Amount Sample Clauses
The 'Deposit of Redemption Amount' clause outlines the requirement for a party, typically the issuer or borrower, to deposit a specified sum—known as the redemption amount—into a designated account as part of a redemption process. This clause details when and how the deposit must be made, such as prior to the redemption date or upon meeting certain conditions, and may specify the account details and acceptable payment methods. Its core function is to ensure that sufficient funds are available to fulfill redemption obligations, thereby protecting the interests of the party entitled to receive the redemption payment and facilitating a smooth and predictable transaction process.
Deposit of Redemption Amount. On or before any Redemption Date in respect of an Optional Redemption under Section 3.12, the Issuer shall, to the extent an amount equal to the Redemption Price of the Equipment Notes to be redeemed and any transaction expenses as of the Redemption Date is not then held by the Issuer or on deposit in the Redemption/Defeasance Account, deposit or cause to be deposited such amount in the Redemption/Defeasance Account.
Deposit of Redemption Amount. Prior to the Redemption Date, the Company shall deposit with the Paying Agent money sufficient to pay the Redemption Price on the Notes on that date. Such moneys shall be segregated by the Paying Agent for the purpose of application to such redemption on the Redemption Date. If such deposit shall be made, the amount payable on the Notes shall be limited to the Redemption Price therefor, without any premium or penalty, and no interest shall accrue on the Notes to be redeemed or the Redemption Price thereof for any period after the Redemption Date. ARTICLE FOUR
Deposit of Redemption Amount. In the case of any redemption pursuant to Section 11.01, the Issuer shall, on or before the Remittance Date preceding the Payment Date on which such redemption is to be effected, deposit in the Note Payment Account pursuant to Section 4.03 an amount equal to the Redemption Amount and shall thereafter succeed to all interests in and to the Trust Estate subject to Section 2.11. The Redemption Amount shall be paid as provided in Section 4.04(b).
Deposit of Redemption Amount. Prior to the Redemption Date, the Company shall deposit with the Paying Agent money sufficient to pay the Redemption Price on Securities on that date. Such moneys shall be segregated by the Paying Agent for the purpose of application to such redemption on the Redemption Date. If such deposit shall be made, the amount payable on the Securities shall be limited to the Redemption Price therefore, without any premium or penalty, and no interest shall accrue on such Redemption Price for any period after the Redemption Date. If any Security called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the provisions of this Section 3.6, interest shall be paid on the unpaid principal from the Redemption Date until such principal is paid, and, to the extent lawful, on any interest not paid on such unpaid principal, in each case at the rate provided in the Securities.
Deposit of Redemption Amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(a) hereof, the Issuer shall, to the extent an amount equal to the Redemption Price of Securities to be redeemed and all accrued and unpaid interest thereon (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof) and all unpaid Policy Provider Obligations as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in the case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of the Available Collections, an amount in immediately available funds equal to such amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(b) hereof, the Issuer shall, to the extent an amount equal to the Outstanding Principal Balance of Securities to be redeemed and all accrued and unpaid interest (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof) and all unpaid Policy Provider Obligations (including any Policy Premium and any Policy Redemption Premium, if any) as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of Available Collections, an amount in immediately available funds equal to such amount. In the event the ACS Group Subclass A-1 Securities or any other Covered Class A Securities are redeemed in full, the Policy shall be surrendered to the Policy Provider for cancellation.
Deposit of Redemption Amount. In the case of any redemption pursuant to Section 10.01, the Issuer shall, on or before the Remittance Date preceding the Payment Date on which such redemption is to be effected, deposit in the Note Payment Account pursuant to Section 4.03 an amount equal to the Redemption Amount (plus any additional amount necessary, after taking into account all amounts in the Collection Account, Note Payment Account and Reserve Account, to pay all due but unpaid Trustee expenses, Additional Servicing Fees, Transition Fees and Trustee Fees, collectively, the "Supplemental Redemption Amount") and shall thereafter succeed to all interests in and to the Trust Estate subject to Section 2.11. The Redemption Amount and the Supplemental Redemption Amount shall be paid as provided in Section 4.04(b).
Deposit of Redemption Amount. At least one (1) Business Day, or such longer period as the Paying Agent may reasonably request, but not to exceed, in any event, ten (10) Business Days, before the Redemption Date, the Company shall deposit with the Paying Agent immediately available funds in an amount sufficient to pay the Redemption Price or the Presentment Price, as the case may be, on the Notes to be redeemed that date. Pursuant to a Company Order the Company’s immediately available funds shall be segregated and held by the Paying Agent for the purpose of redeeming the Notes on the Redemption Date. If the deposit is made in this manner, the amount payable on the Notes shall be limited to the Redemption Price or the Presentment Price, as the case may be, for the Notes, without any premium or penalty, and no interest shall accrue on the Notes to be redeemed or the Redemption Price or the Presentment Price, as the case may be, of the Notes for any period after the Redemption Date.
Deposit of Redemption Amount. 86 10.03 Notice of Redemption by the Trustee...................................................86 10.04
Deposit of Redemption Amount. Except as otherwise provided in a Terms Schedule or Supplemental Indenture applicable to a Series of Notes, upon Notes having been called for redemption, the Issuer shall deposit with the Trustee or any Paying Agent to the order of the Trustee, by 10:00 a.m. (Toronto time) on the Business Day prior to the Redemption Date (or such other time as agreed by the Trustee), by wire transfer, such amount as may be sufficient to pay the Redemption Price of the Notes to be redeemed in the manner specified in the notice of redemption. The deposit of such amount by the Issuer with the Trustee will satisfy and discharge the liability of the Issuer in respect of the Redemption Price of the Notes to be redeemed to the extent of the amount deposited (plus the amount of any tax deducted or withheld). From the amount so deposited, the Trustee or the Paying Agent, as applicable, shall pay or cause to be paid to the holders of such Notes called for redemption, upon surrender of such Notes, the Redemption Price to which they are respectively entitled on the Redemption Date (less any taxes required by law to be deducted or withheld). If any question shall arise as to whether any deposit has been made, such question shall be decided by the Trustee, whose decision shall be final and binding upon all parties in interest.
Deposit of Redemption Amount. Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Amount of all the Convertible Notes which are to be redeemed on that date other than any Convertible Notes called for redemption on that date which have been converted prior to the date of such deposit. If any Convertible Note called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for the redemption of such Convertible Note shall be paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust.