Appropriation by Principal Paying Agent Sample Clauses

Appropriation by Principal Paying Agent. If the Principal Paying Agent makes any payment in accordance with Clause 7.5(a), it shall be entitled to appropriate for its own account out of the funds received by it under Clause 6.1 an amount equal to the amount so paid by it.
Sample 1Sample 2Sample 3See All (58)
AutoNDA by SimpleDocs
Appropriation by Principal Paying Agent. If the Principal Paying Agent makes any payment in accordance with CLAUSE 7.5(a), it shall be entitled to appropriate for its own account out of the funds received by it under CLAUSE 6.1 an amount equal to the amount so paid by it.
Sample 1Sample 2Sample 3
Appropriation by Principal Paying Agent. 9.4 If the Principal Paying Agent makes any payment in accordance with Clause
Sample 1

Related to Appropriation by Principal Paying Agent

  • Resignation or Removal of Paying Agent Subject to the appointment and acceptance of a successor Paying Agent as provided below, the Paying Agent may resign at any time by giving 30 days' prior written notice thereof to the Escrow Agent, but may not otherwise be removed except for cause by the Escrow Agent. Upon any such resignation or removal, the Escrow Agent shall have the right to appoint a successor Paying Agent. If no successor Paying Agent shall have been so appointed and shall have accepted such appointment within 30 days after the retiring Paying Agent's giving of notice of resignation or the removal of the retiring Paying Agent, then the retiring Paying Agent may appoint a successor Paying Agent. Any Successor Paying Agent shall be a bank which has an office in the United States with a combined capital and surplus of at least $100,000,000. Upon the acceptance of any appointment as Paying Agent hereunder by a successor Paying Agent, such successor Paying Agent shall enter into such documents as the Escrow Agent shall require and shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Paying Agent, and the retiring Paying Agent shall be discharged from its duties and obligations hereunder.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!