Common use of Holding in Trust Clause in Contracts

Holding in Trust. If, with respect to the Notes of any particular Series of Notes, an Event of Default shall have occurred and be continuing and the Indenture Trustee or any holder of the Notes of such Series of Notes shall receive from the Trust, or the Indenture Trustee shall hold, any amount for payment of the principal of or interest on such Notes, the Indenture Trustee or such holder, as the case may be, shall, subject to Section 9.07, hold such amount in trust for the benefit of the Specified Creditors, as their interests may appear as set out in a Certificate of the Trust delivered to the Indenture Trustee for such purpose, in accordance with and to the extent of their respective priorities. The Indenture Trustee or such holder of such Notes, as the case may be, shall from time to time pay over to the appropriate Specified Creditors from the amount so held in trust for the benefit of such Specified Creditors, so much as shall at the time of such payment by the Indenture Trustee or such holder of such Notes, as the case may be, have become due, and remain unpaid, of the Related Secured Obligations or, if the amount so due and remaining unpaid shall be greater than the amount so held in trust for the benefit of such Specified Creditors, then the entire amount so held; provided, however, that if such Related Event of Default shall be waived in accordance with Section 8.03, or all amounts that shall have become due for payment of the Related Secured Obligations shall have been paid or duly provided for to the satisfaction of the Indenture Trustee such trusts for the benefit of such Specified Creditors shall terminate and any amount still held by the Indenture Trustee or such holders of such Notes, as the case may be, shall be applied by it for the purposes originally intended. If the Indenture Trustee shall make any payment to any holder of such Notes contrary to the provisions of this Section 3.02, or the Related Supplement, then such holder shall repay any amount so received to the Indenture Trustee, to be held and applied by the Indenture Trustee in accordance with the provisions of this Section 3.02, or the Related Supplement.

Holding in Trust. If, with respect to the Notes of any particular Series of NotesSeries, an a Related Event of Default shall have occurred and be continuing and the Indenture Trustee or any holder of the Notes of such Series of Related Notes shall receive from the Trust, or the Indenture Trustee shall hold, any amount for payment of the principal of or interest on such Notes, the Indenture Trustee or such holder, as the case may be, shall, subject to Section 9.07, shall hold such amount in trust for the benefit of the Related Specified Creditors, as their interests may appear as set out in a Certificate of the Trust delivered to the Indenture Trustee for such purposeRelated Securitization Agreements, in accordance with and to the extent of their respective priorities. The Indenture Trustee or any such holder of such Related Notes, as the case may be, shall from time to time time, in accordance with Section 9.5 and the Related Supplement, pay over to the appropriate Related Specified Creditors from the amount so held in trust for the benefit of such Related Specified Creditors, so much as shall at the time of such payment by the Indenture Trustee or such holder of such Related Notes, as the case may be, have become due, and remain unpaid, of the Related Obligations Secured Obligations or, if the amount so due and remaining unpaid shall be greater than the amount so held in trust for the benefit of such Related Specified Creditors, then the entire amount so held; provided, however, that if such Related Event of Default shall be waived in accordance with Section 8.038.2, or all amounts that shall have become due for payment of the Related Obligations Secured Obligations shall have been paid or duly provided for to the satisfaction of the Indenture Trustee Trustee, such trusts for the benefit of such Related Specified Creditors shall terminate and any amount still held by the Indenture Trustee or such holders of such Notesany Related Noteholder, as the case may be, shall be applied by it for the purposes originally intended. If In the event that the Indenture Trustee shall make any payment to any holder of such Related Notes contrary to the provisions of this Section 3.02, or the Related Supplement9.18, then such holder shall repay any amount so received to the Indenture Trustee, to be held and applied by the Indenture Trustee in accordance with the provisions of this Section 3.02, or the Related Supplement9.18.

Holding in Trust. If, with respect to the Notes of any particular Series of NotesSeries, an (i) a Related Event of Default Possession shall have occurred and be continuing continuing; (ii) the Notes have become due and payable pursuant to Section 8.02; and (iii) the Indenture Trustee or any holder of the Subordinated Notes of such Series of Notes shall thereafter receive from the Trust, or the Indenture Trustee shall hold, any amount for payment of the principal of or interest on such Subordinated Notes, then the Indenture Trustee or such holder, as the case may be, shall, subject to Section 9.07, hold such amount in trust for the benefit of the holders of the Senior Notes and those Specified Creditors, as their interests may appear as Creditors set out in a Certificate of the Trust delivered to the Indenture Trustee for such purpose, in accordance with and to the extent of their respective priorities. The Indenture Trustee or such holder of such Subordinated Notes, as the case may be, shall from time to time pay over to the appropriate Specified Creditors from the amount so held in trust for the benefit of such Specified Creditors, so much as shall at the time of such payment by the Indenture Trustee or such holder of such Subordinated Notes, as the case may be, have become due, and remain unpaid, of the Related Obligations Secured Obligations or, if the amount so due and remaining unpaid shall be greater than the amount so held in trust for the benefit of such Specified Creditors, then the entire amount so held; provided, however, that if such Related Event of Default Possession shall be waived in accordance with Section 8.03, or all amounts that shall have become due for payment of the Related Obligations Secured Obligations shall have been paid or duly provided for to the satisfaction of the Indenture Trustee such trusts for the benefit of such Specified Creditors shall terminate and any amount still held by the Indenture Trustee or such holders of such Subordinated Notes, as the case may be, shall be applied by it for the purposes originally intended. If In the event that the Indenture Trustee shall make any payment to any holder of such Subordinated Notes contrary to the provisions of this Section 3.02, or the Related Supplement, then such holder shall repay any amount so received to the Indenture Trustee, to be held and applied by the Indenture Trustee in accordance with the provisions of this Section 3.02, or the Related Supplement.