News

For example, one party may agree to maintain a property and the other may agree to make payments on it. After serving their time as servants and paid with meals and housing, indentured servants were given “freedom dues” which often included a piece of land and supplies. Immigrants often entered indentured servitude contracts of their own free will, as opposed to slaves, who did not. Although some indentured servants completed their contracts and received land, livestock, tools, and other necessities, many others did not live to pay off their contracts because they perished from diseases or work-related accidents or fled before completing their terms of service. Most workers who became indentured servants were males, generally in their late teens and early twenties, but women also entered into these agreements and often worked as household employees or domestic servants. Other parts of the world also engaged in indentured servitude at the same time that it was occurring in the United States.

Types of indentures

A bondholder should be aware of and understand the proper sequence of events, allowing them to take the proper course of action should such a situation occur. Bonds are issued to lenders or investors to raise money for a corporation or governmental body. To issue a bond, the issuer hires a third-party trustee, usually a bank or trust company, to represent investors who buy the bond. The agreement entered into by the issuer, and the trustee is referred to as the trust indenture. Indentures are important legal documents that are used in a variety of complex business transactions.

Legal importance of indentures

(b) Notwithstanding anything to the contrary contained in this Article III, the Indenture Trustee will distribute promptly upon receiptany indemnity payment received by it from the Owner in respect of the Indenture Trustee in its individual capacity, any Note Holder or any other Indenture Indemnitee, in each case whether or not pursuant to Section 8 of the ParticipationAgreement, directly to the Person entitled thereto. Any payment received by the Indenture Trustee under the third paragraph of Section 2.02 shall be distributed to the Subordination Agent in its capacity as Note Holder to be distributed inaccordance with the terms of the Intercreditor Agreement. (b) The Indenture Trustee shall cancel all Equipment Notes surrendered for replacement, redemption, transfer, exchange, payment orcancellation and shall destroy the canceled Equipment Notes.

Negotiating and Drafting Indentures

These two are in a regular contractual, arm’s length, non-fiduciary, non-equity relationship. Rather, the trustee in a “trust indenture” is a third party, usually a specialist company, who is appointed by the issuer to handle and safeguard the interests of the numerous public bondholders, in events ranging from the usual distribution of coupons and principal payments to dealing with the issuer’s default, if any occurs. On or prior to the Closing Date and on or prior to each renewal date of the insurance policies required hereunder, the Owner will furnish or cause to be furnished to the Indenture Trustee insurancecertificates describing in reasonable detail the insurance maintained by the Owner hereunder and a report, signed by the Owner’s regularly retained independent insurance broker (the “Insurance Broker”), stating the opinion of suchInsurance Broker that (a) all premiums in connection with the insurance then due have been paid and (b) such insurance complies with the terms of this Annex B, except that such opinion shall not be required with respect to war riskinsurance provided by the FAA.

indenture Business English

(b) By the acceptance of its Equipment Notes of any Series (other thanSeries A), each Note Holder of such Series agrees that in the event that such Note Holder, in its capacity as a Note Holder, shall receive any payment or distribution on any Secured Obligations in respect of such Series which it is not entitled toreceive under this Section 2.12 or Article III hereof, it will hold any amount so received in trust for the Senior Holder and will forthwith turn over such payment to the Indenture Trustee in the form received to be applied as provided inArticle III hereof. By the acceptance of its Related Equipment Notes (other than Related Series A Equipment Notes), each Related Note Holder agrees that in the event that such Related Note Holder, in its capacity as a Related Note Holder, shallreceive any payment or distribution pursuant to this Trust Indenture on any Related Secured Obligations which it is not entitled to receive under this Section 2.12 or Article III hereof, it will hold any amount so received in trust for theSenior Holder (as defined in Section 2.12(c) hereof) and will forthwith turn over such payment to the Indenture Trustee in the form received to be applied as provided in Article III hereof. The Equipment Notes shall be dated the Closing Date, shall be issued in three separate series consisting of Series A, Series B and SeriesC and in the maturities and principal amounts and shall bear interest as specified in Schedule I hereto. On the Closing Date, each Series specified in Schedule I shall be issued to the Subordination Agent on behalf of the Applicable Pass ThroughTrustee under the Applicable Pass Through Trust Agreement. The Equipment Notes shall be issued in denominations of $1,000 and integral multiples thereof, except that one Equipment Note ofeach Series may be in an amount that is not an integral multiple of $1,000.

Derived Forms

“IndentureAgreements” means [the Purchase Agreement and]17the Bills of Sale, to the extent included in Granting Clause (2) of the Trust Indenture, and any other contract, agreement or instrument from time to time assigned or pledged under the Trust Indenture. “Government Entity” means (a) any federal, state, provincial or similar government, and any body, board,department, commission, court, tribunal, authority, agency or other instrumentality of any such government or otherwise exercising any executive, legislative, judicial, administrative or regulatory functions of such government or (b) any othergovernment entity having jurisdiction over any matter contemplated by the Operative Agreements or relating to the observance or performance of the obligations of any of the parties to the Operative Agreements. “ERISA” means the Employee Retirement Income Security Act of 1974, and anyregulations and rulings issued thereunder all as amended and in effect from time to time. “Corporate Trust Office” means the principal office of theIndenture Trustee located at Indenture Trustee’s address for notices under the Participation Agreement or such other office at which the Indenture Trustee’s corporate trust business shall be administered which the Indenture Trustee shallhave specified by notice in writing to the Owner and each Note Holder. “Code” means the Internal Revenue Code of 1986, as amended; provided that,when used in relation to a Plan, “Code” shall mean the Internal Revenue Code of 1986 and any regulations and rulings issued thereunder, all as amended and in effect from time to time. “Affiliate” means, with respect to any person, any other person directly or indirectlycontrolling, controlled by or under common control with such person.

1. The agreement mentions that XYZ Inc. would maintain a debt-equity ratio of 2.0x throughout the tenure of the loan, and any breach would trigger the event.
2. The Indenture Trustee shall be fully protected for acting inaccordance with any instructions received under this Section 7.07.
3. The UK Parliament’s Passenger Vessels Act 1803 regulated travel conditions aboard ships to make transportation more expensive, so as to hinder landlords’ tenants seeking a better life.
4. The first attempt at importing Indian labour into Mauritius, in 1829, ended in failure, but by 1834, with abolition of slavery throughout most of the British Empire, transportation of Indian labour to the island gained pace.
5. Fiji, Grenada, Malaysia, Trinidad and Tobago, Kenya, and Guyana also have significant populations of Indian descent owing to the Indian indenture system, which was organized by British colonial administrators during the 1830s and ended in 1917.
6. When the agreement was made before a court of law a tripartite indenture was made, with the third piece kept at the court.

“Series C” or “Series C Equipment Notes” means Equipment Notes issued under the Trust Indenture anddesignated as “Series C” thereunder, in the Original Amount and maturities and bearing interest as specified in Schedule I to the Trust Indenture under the heading “Series C”. “Series B” or “Series B Equipment Notes” means Equipment Notes issued under the TrustIndenture and designated as “Series B” thereunder, in the Original Amount and maturities and bearing interest as specified in Schedule I to the Trust Indenture under the heading “Series B”. “Pass Through Certificates” means the pass through certificates issued by the Pass Through Trusts (and any other pass through certificates https://accounting-services.net/ for which such pass through certificates may beexchanged). “Liquidity Provider” means Natixis S.A., a sociétéanonyme, organized under the laws of the Republic of France, acting through its New York Branch, as “Class A Liquidity Provider” and “Class B Liquidity Provider” (as such terms are defined in the Intercreditor Agreement). “Indenture Event of Default” means any one or more of the conditions,circumstances, acts or events set forth in Section 5.01 of the Trust Indenture. “FAA Filed Documents” means the [the FAA Bill of Sale, an application for registration of the Aircraft with the FAA in the name of Owner,]13 [Release,]14 the Trust Indenture and the initial Trust Supplement.

AnyWet Lease or similar arrangement under which the Owner maintains operational control of the Aircraft shall not constitute a deliver, transfer or relinquishment of possession of the Aircraft for purposes of this Section. Applicable redemption date at the interest rate in effect for such Equipment Note as of such redemption date. The amounts paid pursuant to clause “Fourth” above shall be applied to the installments of Original Amount of such Equipment Notein the inverse order of their maturity. The aggregate Original Amount of any Series of Equipment Notes issued hereunder shall not exceed the amount setforth as the maximum therefor on Schedule I hereto.

“WTC” means Wilmington Trust Company, a Delaware trust company, not in its capacity as Indenture Trusteeunder the Trust Indenture, but in its individual capacity. Government” means the federal government of the United States, or any instrumentality or agency thereof the obligations of which are guaranteed by the full faith and credit of thefederal government of the United States. “Transfer” means the transfer, sale, assignment or other conveyance of all or any interest in any property, right or interest.

Pia is returning to private practice after spending the majority of the last five years in public service as a prosecutor, handling major and violent crimes for the Office of the Commonwealth’s Attorney for Arlington County and the City of Falls Church. She is committed to serving the community through effective legal advocacy, having spent her early career doing indigent defense work and family law. Pia attended Northwestern University where she obtained a Bachelor of Arts in Psychology.

(vii) the Owner shall have furnished to the Indenture Trustee a certificate of a qualified aircraft engineer (who may be an employee ofthe Owner) or an independent appraiser certifying that the Replacement Airframe and Replacement Engines, if any, have a value and utility and remaining useful life (without regard to hours and cycles remaining until overhaul) at least equal to theAirframe and any Engines so replaced (assuming that such Airframe and Engines had been maintained in accordance with this Trust Indenture). (iv) theOwner shall have furnished to the Indenture Trustee a certificate of a qualified aircraft engineer (who may be an employee of the Owner) or an independent appraiser certifying that such Replacement Engine has a value and utility and remaining usefullife (without regard to hours and cycles remaining until overhaul) at least equal to the Engine so replaced (assuming that such Engine had been maintained in accordance with this Trust Indenture). (b) Any inspection of the Aircraft hereunder shall belimited to a visual, walk-around inspection and shall not include the opening of any panels, bays or the like or other components of the Aircraft, and no such inspection shall interfere with the Owner’s or any Permitted Lessee’smaintenance and operation of the Aircraft, Airframe and Engines. Any inspection shall be subject to the Owner’s safety and security rules applicable to the location of the Aircraft. Registry with respect thereto[, and shall cause the sale to the Owner of the Airframe and each Engine at the Closing to be registered on the International Registry]9.

“Expenses” means any and all liabilities, obligations, losses, damages, settlements, penalties, claims, actions, suits,costs, expenses and disbursements (including, without limitation, reasonable fees and disbursements of legal counsel, accountants, appraisers, inspectors or other professionals, and costs of investigation). “EscrowAgreement” means each of the three Escrow and Paying Agent Agreements, among the Escrow Agent, the Paying Agent, certain initial purchasers of the Pass Through Certificates named therein and one of the Pass Through Trustees, dated as of theIssuance Date, which relate to the Class A, Class B or Class C Pass Through Trust, provided that, for purposes of any obligation of the Owner, no amendment, modification or supplement to, or substitution or replacement of, any suchEscrow Agreement shall be effective unless consented to by the Owner. (d) Any corporation into which the Indenture Trustee may be merged or converted or with which it may be consolidated, or any corporationresulting from any merger, conversion or consolidation to which the Indenture Trustee shall be a party, or any corporation to which substantially all the corporate trust business of the Indenture Trustee may be transferred, shall, subject to theterms coupon rate formula of paragraph (c) of this Section 9.01, be a successor Indenture Trustee and the Indenture Trustee under this Trust Indenture without further act. (d) Anycorporation into which the Securities Intermediary may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Securities Intermediary shall be a party, orany corporation to which substantially all the corporate trust business of the Securities Intermediary may be transferred, shall, subject to the terms of paragraph (c) of this Section 8.01, be a successor Securities Intermediary and theSecurities Intermediary under this Trust Indenture without further act. Unless otherwise expressly provided in this Trust Indenture, any income realized as a result of any such investment, net of theIndenture Trustee’s and the Securities Intermediary’s reasonable fees and expenses in making such investment, shall be held and applied by the Indenture Trustee or the Securities Intermediary, as applicable, in the same manner as theprincipal amount of such investment is to be applied and any losses, net of earnings and such reasonable fees and expenses, shall be charged against the principal amount invested.

Also, using or accessing ContractsCounsel’s site does not create an attorney-client relationship between you and ContractsCounsel. Post a project in ContractsCounsel’s marketplace to get free bids from lawyers to draft, review, or negotiate indenture agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.