Application of Trust Fund. Subject to provisions of the last paragraph of Section 1006, all amounts deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such funds have been deposited with the Trustee. ARTICLE FIVE
Application of Trust Fund. Subject to the provisions of the last paragraph of Section 1003, all amounts deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by the Trustee, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such funds have been deposited with the Trustee. Money deposited pursuant to this Section 402 not in violation of this Indenture shall not be subject to claims of the holders of Senior Debt of the Company under Article Fourteen.
Application of Trust Fund. The Trustee shall hold in trust money and U.S. Government Obligations deposited with it pursuant to Section 8.01. Subject to Section 10.07, it shall apply the deposited money and the money from the U.S. Government Obligations through the Paying Agent and in accordance with the provisions of the Securities and this Indenture to the payment of principal of and interest, if any, on the Securities for the payment of which such money or U.S. Government Obligations has been deposited with the Trustee.
Application of Trust Fund. The Trustee shall hold in trust money and Government Obligations deposited with it pursuant to Section 8.01. It shall apply the deposited money and the money from the Government Obligations through the Paying Agent and in accordance with the provisions of the Securities, the coupons and this Indenture to the payment of principal of and interest, if any, on the Securities and related coupons, if any, for the payment of which such money or Government Obligations has been deposited with the Trustee. The Company shall pay, and indemnify the Trustee against, any tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section 8.01 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of outstanding Securities.
Application of Trust Fund. The Trustee shall hold in trust money and U.S. Government Obligations deposited with it pursuant to Section 8.01. Subject to any applicable terms of the Securities of any series relating to subordination (as contemplated by Article Ten and Section 2.02), the Trustee shall apply the deposited money and the money from the U.S. Government Obligations through the Paying Agent and in accordance with the provisions of the Securities of such series and this Indenture to the payment of principal of and interest, if any, on the Securities of such series for the payment of which such money or U.S. Government Obligations has been deposited with the Trustee. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 8.01 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of outstanding Securities.
Application of Trust Fund. 48 Section 8.03. Repayment to Company................................ 48 ARTICLE IX
Application of Trust Fund. 4.1 The Trustees shall hold the Trust Fund in trust for the benefit of the Charitable Beneficiaries in perpetuity, invest it and keep it invested, subject always to the following:
(a) the Trustees’ right to use such part or all of the Trust Fund as they consider appropriate at any time to pay the expenses of administration of this Trust; and
(b) the Trustees’ obligation to comply with any direction in writing given by or on behalf of the Board to the Trustees with respect to the application of part or all of the Trust Fund or with respect to the transfer of the whole or any part of the Trust Fund to any person specified in such direction.
Application of Trust Fund. Contributions.................................................................................................
Application of Trust Fund. Notwithstanding clauses 5 and 6, the Trustee may not apply the Trust Fund or any Income of the Trust Fund in such a manner as will prejudice the status of the Trust as a fund to which tax deductible donations may be made pursuant to section 30-15 of the Tax Act or a tax-exempt fund pursuant to section 50-1 of the Tax Act.
Application of Trust Fund. During the Trust Period until, subject to and in default of any such appointment under clause 4 the Trustees may at any time pay or apply all or any part of the capital or the income of the Trust Fund to or for the benefit of all or any one or more, exclusive of the other or others, of the Beneficiaries and in such shares and proportions if more than one and in such manner generally as the Trustees shall in their discretion think fit.
