Application by Trustee of Funds Deposited for Payment of Debt Securities. Subject to Section 10.04, all monies deposited with the Trustee pursuant to Section 10.01 shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Issuer acting as its own paying agent), to the Holders of the particular Debt Securities of such series for the payment or redemption of which such monies have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest; but such monies need not be segregated from other funds except to the extent required by law.
Appears in 5 contracts
Samples: Trust Indenture (Financial Security Assurance Holdings LTD/Ny/), Trust Indenture (Financial Security Assurance Holdings LTD/Ny/), Indenture (Financial Security Assurance Holdings LTD/Ny/)
