Common use of Application of Deposited Money and Money From Defeasance Securities Clause in Contracts

Application of Deposited Money and Money From Defeasance Securities. Money or Defeasance Securities deposited with the Trustee or the Paying Agent pursuant to Section 5.01 shall constitute a separate trust fund for the benefit of persons entitled thereto. Subject to the provisions of Section 11.03, the Trustee or Paying Agent shall hold in trust money or Defeasance Securities deposited with it pursuant to Section 5.01, and shall apply the deposited money and the money from Defeasance Securities to the payment of the principal or Redemption Price (if applicable) of, and interest on, the Obligations in respect of which such money and Defeasance Securities are deposited. If money deposited with the Trustee under this Article V, or money received from principal or interest payments on Defeasance Securities deposited with the Trustee under this Article V, will be required at a later date for payment of the principal or Redemption Price (if applicable) of, and interest on, the Obligations in respect of which such money and Defeasance Securities are deposited, such money shall, at the written investment direction of the Company, to the extent practicable, be reinvested in Defeasance Securities maturing at times and in amounts that, together with other moneys so deposited or to be generated by other Defeasance Securities, will be sufficient to pay when due the principal or Redemption Price (if applicable) of, and interest to become due on, such Obligations, and the interest earned from such reinvestments shall be paid over to the Company, as received by the Trustee, free and clear of any trust otherwise existing under this Indenture.

Application of Deposited Money and Money From Defeasance Securities. Money or Defeasance Securities deposited with the Trustee or the Paying Agent pursuant to Section 5.01 7.1 shall not be part of the Trust Estate and shall not be deemed to be Trust Moneys but shall constitute a separate trust fund for the benefit of persons entitled thereto. Subject to the provisions of Section 11.0313.3, the Trustee or Paying Agent shall hold in trust money or Defeasance Securities deposited with it pursuant to Section 5.017.1, and shall apply the deposited money and the money from Defeasance Securities to the payment of the principal or Redemption Price (if applicable) of, and interest on, the Obligations in respect of which such money and Defeasance Securities are deposited. If money deposited with the Trustee under this Article VVII, or money received from principal or interest payments on Defeasance Securities deposited with the Trustee under this Article VVII, will be required at a later date for payment of the principal or Redemption Price (if applicable) of, and interest on, the Obligations in respect of which such money and Defeasance Securities are deposited, such money shall, at the written investment direction of the Company, to the extent practicable, be reinvested in Defeasance Securities maturing at times and in amounts that, together with other moneys so deposited or to be generated by other Defeasance Securities, will be sufficient to pay when due the principal or Redemption Price (if applicable) of, and interest to become due on, such Obligations, and the interest earned from such reinvestments shall be paid over to the Company, as received by the Trustee, free and clear of any trust trust, lien, security interest, pledge or assignment securing said Obligations or otherwise existing under this Indenture.

Application of Deposited Money and Money From Defeasance Securities. Money or Defeasance Securities deposited with the Trustee or the Paying Agent pursuant to Section 5.01 5.1 shall constitute a separate trust fund for the benefit of persons entitled thereto. Subject to the provisions of Section 11.0311.3, the Trustee or Paying Agent shall hold in trust money or Defeasance Securities deposited with it pursuant to Section 5.015.1, and shall apply the deposited money and the money from Defeasance Securities to the payment of the principal or Redemption Price (if applicable) of, and interest on, the Obligations in respect of which such money and Defeasance Securities are deposited. If money deposited with the Trustee under this Article V5, or money received from principal or interest payments on Defeasance Securities deposited with the Trustee under this Article V5, will be required at a later date for payment of the principal or Redemption Price (if applicable) of, and interest on, the Obligations in respect of which such money and Defeasance Securities are deposited, such money shall, at the written investment direction of the Company, to the extent practicable, be reinvested in Defeasance Securities maturing at times and in amounts that, together with other moneys so deposited or to be generated by other Defeasance Securities, will be sufficient to pay when due the principal or Redemption Price (if applicable) of, and interest to become due on, such Obligations, and the interest earned from such reinvestments shall be paid over to the Company, as received by the Trustee, free and clear of any trust otherwise existing under this Indenture.