Common use of Application of Moneys Distributable to Holders of Notes Clause in Contracts

Application of Moneys Distributable to Holders of Notes. If at any time any moneys collected or received by the Collateral Agent pursuant to this Agreement or any Collateral Document are distributable pursuant to Section 4.4 to the Trustee, and if the Trustee shall notify the Collateral Agent that no provision is made under the Indenture (i) for the application by the Trustee of such amounts so distributable (whether by virtue of the respective Notes issued under the Indenture not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Trustee of such amounts pending the application thereof, then the Collateral Agent shall invest all such amounts applicable to Holders of Notes in obligations of the kinds referred to in Section 4.3, and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Trustee and for no other purpose until such time as the Trustee shall request the delivery thereof by the Collateral Agent to the Trustee for application by it pursuant to Indenture. This Section 4 is intended for the benefit of, and will be enforceable as a third party beneficiary by, each present and future holder of Secured Obligations, each present and future Trustee, and the Collateral Agent as a Secured Party.

Application of Moneys Distributable to Holders of Notes. If at any time any moneys collected or received by the Collateral Agent pursuant to this Agreement or any Collateral Document are distributable pursuant to Section 4.4 to the any Trustee, and if the such Trustee shall notify the Collateral Agent that no provision is made under the Indenture to which such Trustee is party (i) for the application by the such Trustee of such amounts so distributable (whether by virtue of the respective Notes issued under the such Indenture not having become due and payable or otherwise) or (ii) for the receipt and the holding by the such Trustee of such amounts pending the application thereof, then the Collateral Agent shall invest all such amounts applicable to the Holders of such applicable Notes in obligations of the kinds referred to in Section 4.3, and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the such Trustee and for no other purpose until such time as the such Trustee shall request the delivery thereof by the Collateral Agent to the such Trustee for application by it pursuant to such Indenture. This Section 4 is intended for the benefit of, and will be enforceable as a third party beneficiary by, each present and future holder of Secured Obligations, each present and future Trustee, and the Collateral Agent as a Secured Party.

Application of Moneys Distributable to Holders of Notes. If at any time any moneys collected or received by the Second Lien Collateral Agent Trustee pursuant to this Agreement or any Second Lien Collateral Document are distributable pursuant to Section 4.4 to the Public Trustee, and if the Public Trustee shall notify the Second Lien Collateral Agent Trustee that no provision is made under the Indenture (i) for the application by the Public Trustee of such amounts so distributable (whether by virtue of the respective Notes issued under the Indenture not having become due and payable or otherwise) or (ii) for the receipt and the holding by the Public Trustee of such amounts pending the application thereof, then the Second Lien Collateral Agent Trustee shall invest all such amounts applicable to Holders of Notes in obligations of the kinds referred to in Section 4.3, and shall hold all such amounts so distributable, and all such investments and the proceeds thereof, in trust solely for the Public Trustee and for no other purpose until such time as the Public Trustee shall request the delivery thereof by the Second Lien Collateral Agent Trustee to the Public Trustee for application by it pursuant to Indenture. This Section 4 is intended for the benefit of, and will be enforceable as a third party beneficiary by, each present and future holder of Secured Obligations, each present and future Trustee, and the Collateral Agent as a Secured Party.