Common use of Application by Trustee of Assets Deposited with It Clause in Contracts

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture shall be for the sole benefit of Holders of Securities and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article Fifteen. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of any Securities shall be subject to the provisions of Sections 1501, 1502, 1503 and 1504; provided that, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 1506, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of the Holders of Securities the Notes and, to the extent allocated for the payment of SecuritiesNotes, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities Notes shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided that, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due either principal of or interest on any SecurityNote) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXI. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150111.1, 150211.2, 1503 11.3 and 150411.4; provided PROVIDED that, if prior to one two Business Day Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, including without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150611.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the any Paying Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided provided, that, if prior to one two Business Day Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, including without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Subordinated Debt Securities, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the any Paying Agent (whether or not in trust) for the payment of principal of or interest on any Subordinated Debt Securities shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided that, if prior to one two Business Day Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, including without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the any Paying Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided that, if prior to one two Business Day Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, including without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided that, if prior to one Business Day preceding the date on -------- ---- which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXI. Otherwise, any deposit of assets with the Trustee or the any Paying Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150111.1, 150211.2, 1503 11.3 and 150411.4; provided that, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150611.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXI. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150111.1, 150211.2, 1503 11.3 and 150411.4; provided that, if prior to one Business -------- ---- Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150611.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided thatPROVIDED THAT, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of SecuritiesDebentures, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of or interest on any Securities Debentures shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided thatPROVIDED, THAT, if prior to one two Business Day Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, including without limitation, the payment of any amount due either principal of or interest on any SecurityDebenture) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXI. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of any Securities shall be subject to the provisions of Sections 150111.1, 150211.2, 1503 11.3 and 150411.4; provided that, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150611.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture shall be be, subject to Section 7.7, for the sole benefit of Holders of Securities Noteholders and, to the extent allocated for the payment of SecuritiesNotes, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the any other Agent (whether or not in trust) for the payment of principal of or interest on any Securities Notes shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided thatthat by, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due either principal of or interest on any SecurityNote) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, without liability, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of SecuritiesDebentures, shall not be subject to the subordination provisions of this Article FifteenXII. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities Debentures shall be subject to the provisions of Sections 150112.1, 150212.2, 1503 12.3 and 150412.4; provided thatPROVIDED, THAT, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, including without limitation, the payment of any amount due either principal of or interest on any SecurityDebenture) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article VIII shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article FifteenXI. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150111.1, 150211.2, 1503 11.3 and 150411.4; provided PROVIDED that, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, including without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150611.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with this Indenture Article 8 shall be for the sole benefit of Holders of Securities Securityholders and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this Article Fifteen11. Otherwise, any deposit of assets with the Trustee or the Agent (whether or not in trust) for the payment of principal of or interest on any Securities shall be subject to the provisions of Sections 150111.01, 150211.02, 1503 11.03 and 150411.04; provided PROVIDED that, if prior to one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due either principal of or interest on any Security) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 150611.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date.