Common use of Interest on the Bonds Clause in Contracts

Interest on the Bonds. If, while the Administrative Agent or its designated agent holds Pledged Bonds, the Borrower shall receive any interest payment in respect of such Pledged Bonds, the Borrower agrees to accept the same as agent for the Administrative Agent and to hold the same in trust on behalf of the Administrative Agent and to deliver the same forthwith to the Administrative Agent. All sums of money so paid in respect of such Pledged Bonds that were received by the Borrower and paid to the Administrative Agent, or that shall be received directly by the Administrative Agent (or its designated agent), shall be credited as provided in Section 3.05(b)(i).

Interest on the Bonds. If, while the Administrative Agent or its designated agent holds Pledged Bonds, the Borrower shall receive any interest payment in respect of such Pledged Bonds, the Borrower agrees to accept the same as agent for the Administrative Agent and to hold the same in trust on behalf of the Administrative Agent and to deliver the same forthwith to the Administrative Agent. All sums of money so paid in respect of such Pledged Bonds that were received by the Borrower and paid to the Administrative Agent, or that shall be received directly by the Administrative Agent (or its designated agent), shall be credited as provided in Section 3.05(b)(i).

Interest on the Bonds. If, while the Administrative Agent or its designated agent holds Pledged Bonds, the Borrower Obligors shall receive any interest payment in respect of such Pledged Bonds, the Borrower agrees Obligors agree to accept the same as agent for the Administrative Agent and to hold the same in trust on behalf of the Administrative Agent and to deliver the same forthwith to the Administrative Agent. All sums of money so paid in respect of such Pledged Bonds that were are received by the Borrower Obligors and paid to the Administrative Agent, or that shall be received directly by the Administrative Agent (or its designated agent), shall be credited as provided in Section 3.05(b)(i2.20(g).