HomeMy WebLinkAbout1466 - ~ . ' -E" "
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RG~~224 I~~uE it~5~
ParwRaph 18 ~
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(ii) if tLe Trnstee shall declare the prinoipal of all TTotea ,
then outstanding and the interest accrued thereon unmediately .
due and payable pursnant to Section~ 1102 of the Indenture, such
termination to become effective immediately apon anch declaration;
or
(iii) if any of the Events of Defanlt spec'ed in snbsection
(c), (d)-or (e) of Section 110I of the Indentnre ahall ocenr with
respect to Properties, ench termination to become effeetive npon
the axnrrence of any anch Event of Defanik `
(b) dasumption of Obiigations of Properties. The Company here-
by and as of the date hereof irrevocably and nnconditionally assumes
and -agrees to pay and perform, effective npon the termination of tLia
Lease pnranant to Paragraph 18(a), all of the obligations of Properties
I in respect of the Notes and nnder the Indentnre and the Assignment,
; inclnding withont limitation the obligation to make payments of inter-
i est, principal and preminm, if any, on the Notes as the same becomes
~ dne and payable, or as the same may or may have become dne and
~ payable by reason of acceleration pnrsnant to Section 1102 of the Inden-
tnre or other~ise. The Company agrees that npon snch termination
~ it will (i) promptly Sle ~ith the Trnatee an instrument acknowledging
~ that sncL asanmption has become effecti~ e as aforesaid, dnly eaecuted -
by the Companp and accompanicd by a fa~orable opinion of connsel to
the effeot that the eaecntion and delivery of snch instrument is the valid
and binding act and deed of the Company, and (ii) eaecnte and deliver
auch other instrnments of fnrther assnrance (inclnding withont limita-
~ tion an indentnre sapplemental to the Indenture) in connection with ~ _
~ such assumption as the Trnstee may reasonably reqneat, bnt the content
~ or filing of such inetraments or the failnre to Sle the same shall not
~ impair the ~•alidity or delay or qnalify the effectiveness of snch assnmp-
~ tion as hereinabove provided. -
~ (a) Efject of Termination. IIpon the termination of this Lease
~ pnrsnant to Paragraph 18(a), all of the obligatiane of the Company
~ herennder egcept nnder Paragraphe S(e), 17, 18(b) und 26 and eg-
~ cept obligations which ahall have theretofore accrued shall terminate.
~ (d) Further dssurances or Prnpertiec. Properties agrees that, ,
= upon compliance by the Company ~cith the requirements of subpara- ~ ' '
~ graph (b) above, it will egecnte and deliver to the Company such instrn-
~ ments acknowledging the termination of this T.cuse pnrsuant to this .
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