Deposit of Funds with Escrow Agent. (a) On the Issue Date, the Company shall deposit with the Escrow Agent funds that together with the proceeds from the investment thereof will be sufficient to pay the first four scheduled interest payments on the Securities (excluding any Additional Amounts or Additional Interest). All Collateral shall be held in the Escrow Account until permitted to be disbursed pursuant to the Escrow Agreement and then shall be disbursed strictly in accordance with the terms thereof. 50 -44-
Appears in 2 contracts
Samples: Hermes Europe Railtel B V, Global Telesystems Group Inc
Deposit of Funds with Escrow Agent. (a) On the Issue Date, the Company shall deposit with the Escrow Agent funds that together with the proceeds from the investment thereof will be sufficient to pay the first four scheduled interest payments on the Securities (excluding any Additional Amounts or Additional Interest). All Escrow Collateral shall be held in the Escrow Account until permitted to be disbursed pursuant to the Escrow Agreement and then shall be disbursed strictly in accordance with the terms thereof. 50 -44-.
Appears in 2 contracts
Samples: Indenture (Global Telesystems Group Inc), Global Telesystems Group Inc
Deposit of Funds with Escrow Agent. (a) On the Issue Date, the Company shall deposit with the Escrow Agent funds that together with the proceeds from the investment thereof will be sufficient to pay the first four six scheduled interest payments on the Securities (excluding any Additional Amounts or Additional Interest). All Collateral shall be held in the Escrow Account until permitted to be disbursed pursuant to the Escrow Agreement and then shall be disbursed strictly in accordance with the terms thereof. 50 -44-.
Appears in 1 contract
Samples: Indenture (Concentric Network Corp)
Deposit of Funds with Escrow Agent. (a) On the Issue Date, the Company shall deposit with the Escrow Agent funds that together with the proceeds from the investment thereof will be sufficient to pay the first four six scheduled interest payments on the Securities (excluding including any Additional Amounts or Additional Interest). All Collateral shall be held in the Escrow Account until permitted to be disbursed pursuant to the Escrow Agreement and then shall be disbursed strictly in accordance with the terms thereof. 50 -44-.
Appears in 1 contract
