Common use of Application of Trust Money; Repayment of Money Held by Paying Agent Clause in Contracts

Application of Trust Money; Repayment of Money Held by Paying Agent. Subject to the provisions of Section 8.3(c) hereof, all money deposited with the Indenture Trustee pursuant to Sections 11.1 and 8.3 hereof shall be held in trust and applied by the Indenture Trustee in accordance with the provisions of the Notes, this Indenture and the Trust Agreement, to the payment, either directly or through a Paying Agent, as the Indenture Trustee may determine, to the Persons entitled thereto, of the principal and interest for whose payment such money has been deposited with the Indenture Trustee. In connection with the satisfaction and discharge of this Indenture, all moneys then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to the Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.4 hereof and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

Appears in 16 contracts

Samples: Indenture (BBX Capital Corp), BXG Receivables Note (BFC Financial Corp), BXG Receivables Note (BBX Capital Corp)

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Application of Trust Money; Repayment of Money Held by Paying Agent. Subject to the provisions of Section 8.3(c) hereof, all money deposited with the Indenture Trustee pursuant to Sections 11.1 and 8.3 hereof shall be held in trust on behalf of the Noteholders and applied by the Indenture Trustee in accordance with the provisions of the Notes, this Indenture and the Trust Agreement, to the payment, either directly or through a Paying Agent, as the Indenture Trustee may determine, to the Persons entitled thereto, of the principal and interest for whose payment such money has been deposited with the Indenture Trustee. In connection with the satisfaction and discharge of this Indenture, all moneys then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to the Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.4 hereof and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

Appears in 9 contracts

Samples: Note Funding Agreement (BBX Capital Corp), Note Funding Agreement (Bluegreen Vacations Corp), BXG Timeshare (Bluegreen Vacations Holding Corp)

Application of Trust Money; Repayment of Money Held by Paying Agent. Subject to the provisions of Section 8.3(c) hereof, all money deposited with the Indenture Trustee pursuant to Sections 11.1 and 8.3 hereof shall be held in trust and applied by the Indenture Trustee in accordance with the provisions of the Notes, this Indenture and the Trust Agreement, to the payment, either directly or through a Paying Agent, as the Indenture Trustee may determine, to the Persons entitled thereto, of the principal and interest for whose payment such money has been deposited with the Indenture Trustee. In connection with the satisfaction and discharge of this Indenture, all moneys then than held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to the Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.4 3.2 hereof and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

Appears in 5 contracts

Samples: Indenture (Silverleaf Resorts Inc), Indenture (Silverleaf Resorts Inc), Silverleaf Resorts Inc

Application of Trust Money; Repayment of Money Held by Paying Agent. Subject to the provisions of Section 8.3(c) hereof, all money deposited with the Indenture Trustee pursuant to Sections 11.1 and 8.3 hereof shall be held in trust and applied by the Indenture Trustee in accordance with the provisions of the Notes, Notes and this Indenture and the Trust AgreementIndenture, to the payment, either directly or through a Paying Agent, as the Indenture Trustee may determine, to the Persons entitled thereto, of the principal and interest for whose payment such money has been deposited with the Indenture Trustee. In connection with the satisfaction and discharge of this Indenture, all moneys then than held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to the Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.4 3.2 hereof and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

Appears in 4 contracts

Samples: Indenture (Silverleaf Resorts Inc), Silverleaf Resorts Inc, Silverleaf Resorts Inc

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Application of Trust Money; Repayment of Money Held by Paying Agent. Subject to the provisions of Section 8.3(c) hereof, all money deposited with the Indenture Trustee pursuant to Sections 11.1 and 8.3 hereof shall be held in trust and applied by the Indenture Trustee in accordance with the provisions of the Notes, this Indenture and the Trust Agreement, to the payment, either directly or through a Paying Agent, as the Indenture Trustee may determine, to the Persons entitled thereto, of the principal and interest for whose payment such money has been deposited with the Indenture Trustee. : In connection with the satisfaction and discharge of this Indenture, all moneys then than held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to the Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.4 3.2 hereof and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

Appears in 1 contract

Samples: BXG Receivables (Bluegreen Corp)

Application of Trust Money; Repayment of Money Held by Paying Agent. Subject to the provisions of Section 8.3(c) hereof, all money deposited with the Indenture Trustee pursuant to Sections 11.1 and 8.3 hereof shall be held in trust and applied by the Indenture Trustee in accordance with the provisions of the Notes, this Indenture and the Trust Issuer LLC Agreement, to the payment, either directly or through a Paying Agent, as the Indenture Trustee may determine, to the Persons entitled thereto, of the principal and interest for whose payment such money has been deposited with the Indenture Trustee. In connection with the satisfaction and discharge of this Indenture, all moneys then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to the Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.4 hereof and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

Appears in 1 contract

Samples: Bluegreen Corp

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