Application of Moneys by Trustee Sample Clauses

Application of Moneys by Trustee. (a) Except as herein otherwise expressly provided, any moneys received by the Trustee from the REIT pursuant to the foregoing provisions of this Article 9, or as a result of legal or other proceedings or from any trustee in bankruptcy or liquidator of the REIT, shall be applied, together with any other moneys in the hands of the Trustee available for such purpose, as follows: (i) first, in payment or in reimbursement to the Trustee of its compensation, costs, charges, expenses, borrowings, advances or other moneys furnished or provided by or at the instance of the Trustee in or about the execution of its trusts under, or otherwise in relation to, this Indenture, with interest thereon as herein provided; (ii) second, but subject as hereinafter in this Section 9.7 provided, in payment, rateably and proportionately to the holders of Debentures (less any taxes required to be withheld) of the principal of and premium, if any, on and accrued and unpaid interest and interest on amounts in default on the Debentures which shall then be outstanding in the priority of principal first and then premium and then accrued and unpaid interest and interest on amounts in default unless otherwise directed by Extraordinary Resolution and in that case in such order or priority as between principal, premium, if any, and interest as may be directed by such resolution; and (iii) third, in payment of the surplus, if any, of such moneys to the REIT or its assigns; provided, however, that no payment shall be made pursuant to clause (ii) above in respect of the principal, premium or interest on any Debenture held, directly or indirectly, by or for the benefit of the REIT or any Subsidiary (other than any Debenture pledged for value and in good faith to a Person other than the REIT or any Subsidiary but only to the extent of such Person’s interest therein) except subject to the prior payment in full of the principal, premium (if any) and interest (if any) on all Debentures which are not so held. (b) The Trustee shall not be bound to apply or make any partial or interim payment of any moneys coming into its hands if the amount so received by it, after reserving thereout such amount as the Trustee may think necessary to provide for the payments mentioned in Section 9.7(a), is insufficient to make a distribution of at least 2% of the aggregate principal amount of the outstanding Debentures, but it may retain the money so received by it and invest or deposit the same as provided in Section...
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Application of Moneys by Trustee. Except as herein otherwise expressly provided, any moneys received by the Trustee from the Corporation pursuant to the foregoing Sections of this Article 6, or as a result of legal or other proceedings or from any trustee in bankruptcy or liquidator of the Corporation, shall be applied, together with any other moneys in the hands of the Trustee available for such purposes, as follows:
Application of Moneys by Trustee. Except as otherwise herein provided, the monies arising from any enforcement hereof shall be held by the Trustee and applied by it, together with any other monies then or thereafter in the hands of the Trustee available for the purpose, as follows: (a) firstly, in payment or reimbursement to the Trustee of the remuneration, expenses, disbursements and advances of the Trustee earned, incurred or made in the administration or execution of the trusts hereunder or otherwise in relation to this Trust Indenture with interest thereon as herein provided; (b) secondly, but subject to Subsection 6.06(a), in payment of the principal of and accrued and unpaid interest on amounts in default under the Debentures which shall then be outstanding rateably and proportionately and without preference or priority or discrimination as between principal and interest unless otherwise directed by extraordinary resolution and in that case in such order of priority as between principal and interest as may be directed by such resolution; and (c) the surplus (if any) of such monies shall be paid to the Company or its assigns.
Application of Moneys by Trustee. Except as herein otherwise expressly provided, any moneys received by the Trustee from the Company pursuant to the foregoing provisions of this Article 7, or as a result of legal or other proceedings or from any trustee in bankruptcy or liquidator of the Company, shall be applied, together with any other moneys in the hands of the Trustee available for such purposes, as follows: (a) first, in payment or in reimbursement to the Trustee of its compensation, costs, charges, expenses, borrowings, advances or other moneys furnished or provided by or at the instance of the Trustee in or about the execution of its trusts under, or otherwise in relation to, this Indenture, with interest thereon as herein provided; (b) second, but subject to the provisions of Article 5, in payment of the principal of and accrued and unpaid interest and interest on amounts in default on the Bonds which shall then be outstanding in the priority of principal first and then accrued and unpaid interest and interest on amounts in default unless otherwise directed by majority resolution and in that case in such order or priority as between principal and interest as may be directed by such resolution; and (c) third, the surplus, if any, of such moneys shall be paid to the Company or its assigns.
Application of Moneys by Trustee. The proceeds of any sale made either under the power of sale hereby given or under judgment or decree in any judicial proceedings for the foreclosure or otherwise for the enforcement of this Indenture, together with any other amounts of cash which may then be held by the Trustee as part of the Mortgaged Property, shall be applied as follows:
Application of Moneys by Trustee. (1) Except as herein otherwise expressly provided, any moneys received by the Trustee from the Corporation pursuant to the foregoing provisions of this Article, or as a result of legal or other proceedings or from any trustee in bankruptcy or liquidator of the Corporation shall be applied, together with any other moneys in the hands of the Trustee available for such purposes, subject to Section 6.08 as follows: (a) first, in payment or in reimbursement to the Trustee of its reasonable compensation, costs, charges, expenses, borrowings, advances or other moneys furnished or provided by or at the instance of the Trustee in or about the execution of its trusts under, or otherwise in relation to, this Indenture; (b) second in payment of the aggregate Remaining Royalty Entitlement on the Units then outstanding; and (c) third, in payment of the surplus, if any, of such moneys to the Corporation or its assigns. (2) For greater certainty, no payment shall be made pursuant to Section 6.07(1)(b) in respect of the Remaining Royalty Entitlement on any Units held, directly or indirectly, by or for the benefit of the Corporation or any of its Affiliates (other than any Unit pledged for value and in good faith to a Person other than the Corporation or any of its Affiliates, but only to the extent of such Person’s interest therein) except subject to the prior payment in full of the aggregate Remaining Royalty Entitlement on the Units which are not so held.
Application of Moneys by Trustee. Any moneys collected by the Trustee pursuant to this Article Seven shall be applied in the order following at the date or dates fixed by
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Application of Moneys by Trustee. Any moneys collected by the Trustee pursuant to this Article Seven shall be applied in the order following at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest:

Related to Application of Moneys by Trustee

  • Application of Monies Collected by Trustee Any monies collected by the Trustee pursuant to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

  • Moneys Held by Trustee Subject to the provisions of Section 10.4 hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by mandatory provisions of law. Neither the Trustee nor any agent of the Issuer or the Trustee shall be under any liability for interest on any moneys received by it hereunder.

  • Application of Money Collected Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

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