Application of Monies by Trustee. (a) Except as herein otherwise expressly provided, any monies received by the Trustee from the Company pursuant to the foregoing provisions of this Article 8, 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 monies 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 monies 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 8.6 provided, in payment, rateably and proportionately to the holders of Debentures, of the principal of and accrued and unpaid interest on and interest on amounts in default on the Debentures which shall then be outstanding in the priority of principal first and then accrued but 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 and interest as may be directed by such resolution; and
(iii) third, in payment of the surplus, if any, of such monies to the Company or its assigns; provided, however, that no payment shall be made pursuant to clause (b) above in respect of the principal and/or the interest on any Debenture held, directly or indirectly, by or for the benefit of the Company or any Subsidiary (other than any Debenture pledged for value and in good faith to a Person other than the Company 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 and interest 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 monies 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 subsection 8.1(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 until the money or the investments representing the same, with the income derived therefrom, together with any other monies for t...
Application of Monies by Trustee. Except as herein otherwise expressly provided, any monies received by the Trustee from the Corporation pursuant to the foregoing provisions of this Section, 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 monies in the hands of the Trustee available for such purpose, as follows:
Application of Monies by Trustee. (a) The Trustee shall keep separate accounts for (i) the monies collected or received by the Trustee hereunder or under the Common Security Documents and relating to the Common Collateral and (ii) the monies collected or received by the Trustee hereunder or under the Pledge Documents and relating to the Additional Series A Collateral. All monies collected or received by the Trustee hereunder (other than amounts due to the Trustee for its own account) or under any Security Document or in respect of the Collateral shall be held and applied pursuant to the provisions of this Section 6 and Section 17(b). All monies from time to time received pursuant to the Security Documents by the Trustee, no provision for the application of which is made herein or in any of the Security Documents, shall be retained by the Trustee as additional security for the obligations secured by the Common Collateral or the Additional Series A Collateral, as the case may be.
(b) If an Event of Default shall have occurred and be continuing, all proceeds of any sale or collection provided for in any of the Common Security Documents or otherwise received as or in respect of any Common Collateral, and all other monies received by the Trustee under any Common Security Document or under this Agreement and relating to the Common Collateral, and at the time held by the Trustee, shall be applied in the following order:
