Indentured servitude Wikipedia

On the date on which the Owner is required pursuant to Section 4.05 hereof to make payment for an Event of Loss withrespect to the Airframe, all of the Equipment Notes shall be redeemed in whole at a redemption price equal to 100% of the unpaid Original Amount thereof, together with all accrued interest thereon to the date of redemption and all other SecuredObligations (other than Related Secured Obligations) owed or then due and payable to the Note Holders but without Make-Whole Amount. No Note Holder nor any other Indenture Indemnitee shall, as such, have any further interest in, or other right with respect to, theCollateral when and if the Original Amount of, Make-Whole Amount, if any, and interest on and other amounts due under all Equipment Notes held by such Note Holder and all other sums then due and payable to such Note Holder, such Indenture Indemniteeor the Indenture Trustee hereunder (including, without limitation, under the third paragraph of Section 2.02 hereof) and under the other Operative Agreements by the Owner and all Related Secured Obligations (collectively, the “SecuredObligations”) shall have been paid in full. Prior to due presentment for registration of transfer of this Equipment Note, the Owner and the Indenture Trustee shall treat the personin whose name this Equipment Note is registered as the owner hereof for all purposes, whether or not this Equipment Note be overdue, and neither the Owner nor the Indenture Trustee shall be affected by notice to the contrary. Security for, this Equipment Note (including as a “Related Equipment Note” under each of the Related Indentures) and the rights and obligations of the holders of, and the nature andextent of the security for, any other Equipment Notes executed and delivered under the Trust Indenture, as well as for a statement of the terms and conditions of the Trust created by the Trust Indenture, to all of which terms and conditions in theTrust Indenture each holder hereof agrees by its acceptance of this Equipment Note. In the case of a trust indenture, a bond issuer may hire a trustee, and a trust indenture will be required to outline the responsibilities of the trustee and what they will oversee.

Applications of indentures

1. (a) The Indenture Trustee or any successor thereto may resign at any time without causeby giving at least thirty (30) days’ prior written notice to the Owner and each Note Holder, such resignation to be effective upon the acceptance of the trusteeship by a successor Indenture Trustee.
2. ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice.
3. Any receiver appointed for all or any part of the Collateral shall be entitled to exercise all the rights and powers of theIndenture Trustee with respect to the Collateral.
4. For purposes of this definition, “control” means the power, directly or indirectly, to direct or cause the direction of the management and policies of such person,whether through the ownership of voting securities or by contract or otherwise and “controlling,” “controlled by” and “under common control with” have correlative meanings.

Any such transferee of anEquipment Note, by its acceptance of an Equipment Note, (i) agrees to the provisions of this Trust Indenture and the Participation Agreement applicable to Note Holders, including Sections 6.3, 6.4 and 9.1 thereof, and shall be deemed to havecovenanted to the parties to the Participation Agreement as to the matters covenanted by the original Note Holder in the Participation Agreement and (ii) agrees to the restrictions set forth in Sections 4.1(a)(i) and 4.1(a)(iii) of theIntercreditor Agreement, and shall be deemed to have covenanted to the parties to the Intercreditor Agreement not to give any direction, or otherwise authorize, the Indenture Trustee to take any action that would violate Sections 4.1(a)(i) or4.1(a)(iii) of the Intercreditor Agreement. Subject to compliance by the Note Holder and its transferee (if any) of the requirements set forth in this Section 2.06, the Indenture Trustee and the Owner shall use all reasonable efforts to issuenew Equipment Notes upon transfer or exchange within 10 Business Days of the date an Equipment Note is surrendered for transfer or exchange. In the case of a loss with respect to an engine (other than an Engine) installed on the Airframe, theIndenture Trustee shall hold any payment to it of any insurance proceeds in respect of such loss for the account of the Owner or any other third party that is entitled to receive such proceeds.

Understanding XRP’s Role in the Future of Money Transfers

(a) All (but notless than all) of the Equipment Notes may be redeemed by the Owner upon at least thirty (30) days’ revocable prior written notice to the Indenture Trustee and the Note Holders, and such Equipment Notes shall be redeemed in whole at aredemption price equal to 100% of the unpaid Original Amount thereof, together with accrued interest thereon to the date of redemption and all other Secured Obligations (other than Related Secured Obligations) owed or then due and payable to theNote Holders plus Make-Whole Amount, if any, provided that no redemption shall be permitted under this Section 2.10(a) unless https://accounting-services.net/ simultaneously with such redemption all Related Series A Equipment Notes, Related Series B Equipment Notes andRelated Series C Equipment Notes shall also be redeemed. The Equipment Notes shall be executed on behalf of the Ownerby one of its authorized officers. Equipment Notes bearing the signatures of individuals who were at any time the proper officers of the Owner shall bind the Owner, notwithstanding that such individuals or any of them have ceased to hold suchoffices prior to the authentication and delivery of such Equipment Notes or did not hold such offices at the respective dates of such Equipment Notes.

Indenture Agreement Sample

Person has furnished to the Indenture Trustee a properly completed, accurate and currently effective U.S. Internal Revenue Service Form W-9, ifapplicable, prior to a payment hereunder or under the Equipment Notes held by such holder, no amount shall be withheld from payments in respect of United States federal income tax. (b) The Indenture Trustee, as agent for the Owner, shall exclude and withhold at the appropriate rate from each payment of Original Amount of, interest on, Make-Whole Amount, if any, and other amounts duehereunder or under each Equipment Note (and such exclusion and withholding shall constitute payment in respect of such Equipment Note) any and all United States withholding taxes (including, without limitation, any such withholding taxes imposedunder FATCA) applicable thereto as required by Law. The Indenture Trustee agrees to act as such withholding agent and, in connection therewith, whenever any present or future United States taxes or similar charges are required to be withheld withrespect to any amounts payable hereunder or in respect of the Equipment Notes, to withhold such amounts and timely pay the same to the appropriate authority in the name of and on behalf of the Note Holders, that it will file any necessary UnitedStates withholding tax returns or statements when due, and that as promptly as possible after the payment thereof it will deliver to each Note Holder (with a copy to the Owner) appropriate receipts showing the payment thereof, together with suchadditional documentary evidence as any such Note Holder may reasonably request from time to time. In the United States, public debt offerings in excess of $10 million require the use of an indenture of trust under the Trust Indenture Act of 1939. The rationale for this is that it is necessary to establish a collective action mechanism under which creditors can collect in a fair, orderly manner if default takes place (like that which occurs during bankruptcy).[5] No trust relationship exists between the bondholder and the issuing corporation.

indenture Business English

Conformed at least one unit of such property in its fleet to the requirements of any such law, rule, regulation, order or other action and commenced regular commercial use of the same in suchjurisdiction and shall be diligently carrying forward, in a manner which does not discriminate against such property in so conforming such property, steps which are necessary or desirable to permit the normal use of the Aircraft by the Owner, but inany event if such use shall have been prohibited for a period of three (3) years. Any request, notice, direction, consent, waiver or other instrument or action by any Note Holder shall bind the successors and assigns of such holder. Each Note Holder by itsacceptance of an Equipment Note agrees to be bound by this Trust Indenture and all provisions of the Operative Agreements applicable to a Note Holder.

Types of indentures

“Aviation Authority” means the FAA or, if the Aircraft is permitted to be, and is, registered with any other GovernmentEntity under and in accordance with Section 4.02(e) of the Trust Indenture and Section 6.4.5 of the Participation Agreement, such other Government Entity. (c) Unless otherwise defined or specified in any Operative Agreement, all accounting termstherein shall be construed and all accounting determinations thereunder shall be made in accordance with GAAP. The headings of the various Articles and sectionsherein and in the table of contents hereto are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. (e) The Owner consents to any change in the identity of the Indenture Trustee on the International Registry occasioned by provisions of this Section 9.01, and if required by the InternationalRegistry to reflect such change, will provide its consent thereto. The Indenture Trustee will not use, operate, store, lease, control, manage, sell, dispose of or otherwise deal with theAircraft or any other part of the Collateral except in accordance with the powers granted to, or the authority conferred upon the Indenture Trustee pursuant to this Trust Indenture and in accordance with the express terms hereof. (c) With respect to such rights of inspection, the Indenture Trustee shall not have any duty or liability to make, or any duty orliability by reason of not making, any such visit, inspection or survey.

Skilled laborers were usually indentured for four or five years, but unskilled workers often needed to remain for seven or more years. Approximately 300,000 European workers immigrated to the American colonies in the 1600s as indentured servants, and indentured servitude continued throughout much of the 1700s. Indentured servitude is a form of labor where an individual is under contract to work without a salary to repay an indenture or loan within a certain timeframe. Indentured servitude was popular in the United States in the 1600s as many European immigrants worked in exchange for the price of passage to America. ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney.

The situation was particularly difficult for indentured women, because in both low social class and gender,[citation needed] they were believed to be particularly prone to vice, making legal redress unusual. An indenture is a legally binding agreement that has evolved from historical origins to become a crucial component of modern finance. It outlines the terms and conditions of credit offerings, ensuring that all parties involved understand their obligations and limitations. All parties must consider the terms and conditions of an indenture before signing it, as it is a binding agreement that cannot be easily canceled or changed. During the 1860s the United States saw an uptick in indentured labor when such companies as the Central Pacific Railroad began signing mostly Chinese (and a few Irish) laborers to multiyear contracts to build railways in exchange for housing and wages so low as to be unlivable.

“FAA Regulations” means the Federal Aviation Regulations issued or promulgated pursuant to the Act from time to time. “Deposit Agreement” means each of the three Deposit Agreements between the Escrow Agent and theDepositary, dated as of the Issuance 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 orreplacement of, any such Deposit Agreement shall be effective unless consented to by the Owner. IN WITNESS WHEREOF, the parties hereto have caused this Trust Indenture and SecurityAgreement to be duly executed by their respective officers thereof duly authorized as of the day and year first above written. Noconsent of the Securities Intermediary shall be required for any amendment, waiver or modification of, or supplement or consent to, the Trust Indenture, except with respect to Section 3.07 or Article VIII of this Trust Indenture. If, in the opinion of the institution acting as the Indenture Trustee hereunder, any document required to beexecuted by it pursuant to the terms of Section 10.01 hereof affects any right, duty, immunity or indemnity with respect to such institution under this Trust Indenture, such institution may in its discretion decline to execute such document.

Many of the current rules regarding trust indentures were established by the Trust Indenture Act (TIA), a piece of legislation passed in 1939 to protect bondholders and investors. These professionals monitor interest payments, redemptions, and investor communications. Essentially, their role is to oversee and administer all of the terms, clauses, startup bookkeeping service and covenants of an indenture issued by a company or government agency. Indentures in general provide details on collateralized property, constituting the claim a lender has against a debtor, usually secured with a lien on the debtor’s property. In real estate, an indenture is a deed in which two parties agree to continuing obligations.

Any sale or other conveyance of the Collateral, or any part thereof (including any part thereof or interest therein), by the IndentureTrustee made pursuant to the terms of this Trust Indenture shall bind the Note Holders and shall be effective to transfer or convey all right, title and interest of the Indenture Trustee, the Owner and such holders in and to such Collateral or partthereof. No purchaser or other grantee shall be required to inquire as to the authorization, necessity, expediency or regularity of such sale or conveyance or as to the application of any sale or other proceeds with respect thereto by the IndentureTrustee. (c) No successor Securities Intermediary may be appointed in anymanner unless such successor is an Eligible Institution and a bank or trust company having its principal place of business in the Borough of Manhattan, City and State of New York; Chicago, Illinois; Hartford, Connecticut; Wilmington, Delaware; orBoston, Massachusetts with (or whose obligations under the Operative Agreements are guaranteed by an affiliated entity having) a combined capital and surplus of at least $100,000,000, if there be such an institution willing, able and legallyqualified to perform the duties of the Securities Intermediary hereunder upon reasonable or customary terms. The Indenture Trustee shall be entitled to reasonable compensation, including expenses and disbursements (including thereasonable fees and expenses of counsel), for all services rendered hereunder and shall, on and subsequent to an Event of Default hereunder, have a priority claim on the Collateral for the payment of such compensation, to the extent that suchcompensation shall not be paid by the Owner, and shall have the right, on and subsequent to an Event of Default hereunder, to use or apply any monies held by it hereunder in the Collateral toward such payments. The Indenture Trustee agrees that itshall have no right against the Note Holders for any fee as compensation for its services as trustee under this Trust Indenture. The Indenture Trustee will execute and the Owner will file such continuation statements with respect to financingstatements relating to the security interest created hereunder in the Collateral as may be specified from time to time in written instructions of a Majority in Interest of Note Holders (which instructions shall be accompanied by the form of suchcontinuation statement so to be filed).

Supplies—including seeds, tools, clothing, and food—were provided by the landowners, and charges for those supplies were taken out of the sharecroppers’ payment. In years of bad harvests, this arrangement put sharecroppers in debt, which they were legally forced to pay by working on the landowners’ property. Contract conditions were stringent and punitive, and Black sharecroppers had little recourse to the law in the Jim Crow South.

Equitable right, remedy or claim under or in respect of this Trust Indenture, except that the persons referred to in the last paragraph of Section 4.02(b) shall be third party beneficiariesof such paragraph. Promptly after the execution by the Owner or the Indenture Trustee of any document entered into pursuant to Section 10.01 hereof, theIndenture Trustee shall mail, by first class mail, postage prepaid, a copy thereof to the Owner (if not a party thereto) and to each Note Holder at its address last set forth in the Equipment Note Register, but the failure of the Indenture Trusteeto mail such copies shall not impair or affect the validity of such document. $100,000,000, if there be such an institution willing, able and legally qualified to perform the duties of the Indenture Trustee hereunder upon reasonable or customary terms.

The indenture acts as a binding agreement, protecting the rights and interests of both parties involved. Indentured labor was also prevalent among white and Black farmers in the South after the American Civil War. Many of these farmers rented small plots of land from large landowners in exchange for paying the landowners a share of the farmers’ crops (a practice called sharecropping).

For example, bond indentures are indentured trusts that delineate various interests when companies issue bonds in financing agreements. For example, a corporate indenture would be a deed describing terms and conditions for debt securities issuance. If any Indemnitee is Airframe Manufacturer or Engine Manufacturer or any subcontractor or supplier of eitherthereof, such Person shall be an Indemnitee only in its capacity as Note Holder. While such engine is subject to such lease, conditional sale, trust indenture or other security agreement and owned by such lessor or conditional seller or subject to a trust indenture orsecurity interest in favor of such indenture trustee or secured party.

The Owner may from time to time execute and deliver Equipment Notes with respect to the Aircraftto the Indenture Trustee for authentication upon original issue and such Equipment Notes shall thereupon be authenticated and delivered by the Indenture Trustee upon the written request of the Owner signed by an authorized officer of the Owner. NoEquipment Note shall be secured by or entitled to any benefit under this Trust Indenture or be valid or obligatory for any purposes, unless there appears on such Equipment Note a certificate of authentication in the form provided for herein executedby the Indenture Trustee by the manual signature of one of its authorized officers and such certificate upon any Equipment Notes be conclusive evidence, and the only evidence, that such Equipment Note has been duly authenticated and deliveredhereunder. The Owner agrees that at any time and from time to time, upon the written request of the Indenture Trustee, the Owner will promptly and duly execute and deliver or cause to be duly executed and deliveredany and all such further instruments and documents (including without limitation UCC continuation statements) as the Indenture Trustee may reasonably deem necessary to perfect, preserve or protect the mortgage, security interests, InternationalInterests and assignments created or intended to be created hereby or to obtain for the Indenture Trustee the full benefits of the assignment hereunder and of the rights and powers herein granted. The American and British governments passed several laws that helped foster the decline of indentures. 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.