Common use of Application by Trustee of Monies Deposited With It Clause in Contracts

Application by Trustee of Monies Deposited With It. Any deposit of monies by the Company with the Trustee or any Paying Agent (whether or not in trust) for the payment of principal of or interest on any of the Securities shall be subject to the provisions of Sections 3.01, 3.02, 3.03 and 3.04 except that, if prior to the date on which by the terms of this Indenture any such monies may become payable for any purpose (including, without limitation, the payment of either principal of or interest on any Security) the Trustee or such Paying Agent shall not have received with respect to such monies the notice provided for in Section 3.06, then the Trustee or such Paying Agent shall have full power and authority to receive such monies 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. Nothing herein shall be construed to relieve any Holders from duties imposed upon them under Section 3.03(c) with respect to monies received in violation of the provisions of this Article Three.

Application by Trustee of Monies Deposited With It. Any Subject to Article 8, any deposit of monies by the Company with the Trustee or any Paying Agent (whether or not in trust) for the payment of the principal of or interest on any of the Securities shall be subject to the provisions of Sections 3.019.1, 3.029.2, 3.03 9.3 and 3.04 9.4, except that, if prior to the date on which by the terms of this Indenture any such monies may become payable for any purpose (including, without limitation, the payment of either the principal of or the other interest on any Security) ), the Trustee or such Paying Agent shall not have received with respect to such monies the notice provided for in Section 3.069.6, then the Trustee or such the Paying Agent shall have full power and authority to receive such monies and to apply the same to the purpose for which they were received, . This Section shall be construed solely for the benefit of the Trustee and shall not be affected by any notice to the contrary which may be received by it on or after such date. Nothing Paying Agent and nothing herein shall be construed to relieve any Holders from the duties imposed upon them under Section 3.03(c9.3(c) with respect to monies received in violation of the provisions of this Article Three9. The foregoing shall not apply if the Company acts as its own Paying Agent.

Application by Trustee of Monies Deposited With It. Any deposit of monies by the Company with the Trustee or any Paying Agent (whether or not in trust) for the payment of principal of or interest on any of the Securities shall be subject to the provisions of Sections 3.01, 3.02, 3.03 and 3.04 except that, if prior to the date on which by the terms of this Indenture any such monies may become payable for any purpose (including, without limitation, the payment of either principal of or interest on any Security) a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such monies the notice provided for in Section 3.06, then the Trustee or such Paying Agent shall have full power and authority to receive such monies 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. Nothing herein shall be construed to relieve any Holders from duties imposed upon them under Section 3.03(c) with respect to monies received in violation of the provisions of this Article Three.