Money for Debenture Payments to Be Held in Trust. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each date for the payment of the principal of or interest on the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest so becoming due, such sum to be held in trust for the benefit of the persons entitled to such payments; and, unless such Paying Agent is the Trustee, the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: (1) hold all sums held by it for the payment of the principal of or interest on the Debentures in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided; (2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal or interest; and (3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, shall be released from all further liability with respect to such money.
Appears in 4 contracts
Samples: Indenture (Pods Inc), Indenture (Pods Inc), Indenture (Enstar Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of, premium (if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium (if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of of, premium (if any) or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal principal, premium, (if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium (if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold Hold all sums held by it for the payment of the principal of premium (if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give Give the Trustee prompt written notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal principal, premium (if any) or interest; and
(3) at At any time during the continuance of any such default, default upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time purpose pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent or then held by the Company in trust for the payment of the principal of, premium (if any) or interest on any Debenture and remaining unclaimed for three years after such principal, premium (if any) or interest has become due and payable, shall be paid to the Company on Company request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in the City of Indianapolis, Indiana, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. The provisions of this Section 1103 are subject to the provisions of the last sentence of Section 1101.
Appears in 2 contracts
Samples: Trust Indenture (First Shares Bancorp Inc), Trust Indenture (First Shares Bancorp Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of (and premium, if any) or interest on the any Debentures, it will deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal (and premium, if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interestinterest on the Debentures; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon . Upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Unless otherwise required by applicable law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust. The Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease, provided that the Trustee or such Paying Agent, before being required to make any such repayment, at the expense of the Company, may cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in Minneapolis, Minnesota, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 2 contracts
Samples: Indenture (United Homes Inc), Indenture (United Homes Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to the Debentures, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to before each due date for the payment of the principal of or interest on the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal and premium (if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest; and;
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(d) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; , and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request, after all payments owing the Trustee have been paid, to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 2 contracts
Samples: Indenture (Host Marriott Corp/Md), Indenture (Big Flower Holdings Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to the Debentures, it will, on or before each due date of the principal of (or premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (or premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to before each due date for the payment of the principal of or interest on the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (or premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal and premium (if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (or premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (or premium, if any) or interest; and;
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(d) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; , and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (or premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (or premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request, after all payments owing the Trustee have been paid, to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 2 contracts
Samples: Junior Convertible Subordinated Indenture (Dayton Superior Capital Trust), Junior Convertible Subordinated Indenture (Dura Automotive Systems Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or premium, if any, or interest (including any Additional Payments) on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium, if any, and interest (including any Additional Payments) so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of or premium, if any, or interest (including any Additional Payments) on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest so becoming duesuch amount, such sum to be held in trust for as provided by the benefit of the persons entitled to such payments; andTrust Indenture Act, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
will (1i) hold all sums held by it for comply with the payment provisions of the principal of or interest on Trust Indenture Act applicable to it as a Paying Agent and (ii) during the Debentures in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided;
(2) give the Trustee notice continuance of any default by the Company (or any other obligor upon the Debentures) in the making of any payment in respect of principal or interest; and
(3) at any time during the continuance of any such defaultDebentures, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying AgentAgent as such. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or premium, if any, or interest (including any Additional Payments) on any Debenture and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid to the Company on Company Request, or if then held by the Company shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of any such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 2 contracts
Samples: Indenture (Westcoast Hospitality Capital Trust), Indenture (Westcoast Hospitality Corp)
Money for Debenture Payments to Be Held in Trust. Whenever If the Company shall have one or more at any time act as its own Paying AgentsAgent with respect to the Debentures, it will, on or before each due date of the principal or any premium or interest on the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall utilize a Paying Agent for the Debentures, it will, prior to each due date for the payment of the principal of or any premium or interest on the Debentures, deposit with a the Paying Agent a sum sufficient to pay the principal or interest so becoming duesuch amount, such sum to be segregated and held in trust for the benefit of the persons Persons entitled to such payments; andthereto, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each the Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
will (1a) hold all sums held by comply with the provisions of this Indenture applicable to it for as a Paying Agent and (b) during the payment of the principal of or interest on the Debentures in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided;
(2) give the Trustee notice continuance of any default by the Company (or any other obligor upon the Debentures) in the making of any payment in respect of principal or interest; and
(3) at any time during the continuance of any such defaultDebentures, and upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in the trust by such Paying AgentAgent for payment in respect of the Debentures. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money.
Appears in 1 contract
Samples: Indenture (Code Alarm Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of, premium, if any, or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee in writing of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest so becoming duesuch amount, such sum to be held in trust for as provided by the benefit of the persons entitled to such payments; andTrust Indenture Act, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee in writing of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this SectionSection 10.03, that such Paying Agent will:
will (1i) hold all sums held by it for comply with the payment provisions of the principal of or interest on Trust Indenture Act applicable to it as a Paying Agent and (ii) during the Debentures in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided;
(2) give the Trustee notice continuance of any default by the Company (or any other obligor upon the Debentures) in the making of any payment in respect of principal or interest; and
(3) at any time during the continuance of any such defaultDebentures, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying AgentAgent as such. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by a Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or 66 59 such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest on (including Additional Payments, if any) any Debenture and remaining unclaimed for two years after such principal or interest has become due and payable shall be paid to the Company on a Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of any such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 1 contract
Samples: Indenture (Titanium Metals Corp)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest so becoming duesuch amount, such sum to be held in trust for as provided by the benefit of the persons entitled to such payments; andTrust Indenture Act, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
will (1i) hold all sums held by it for comply with the payment provisions of the principal of or interest on Trust Indenture Act applicable to it as a Paying Agent and (ii) during the Debentures in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided;
(2) give the Trustee notice continuance of any default by the Company (or any other obligor upon the Debentures) in the making of any payment in respect of principal or interest; and
(3) at any time during the continuance of any such defaultDebentures, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying AgentAgent as such. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest on any Debenture and remaining unclaimed for two years after such principal or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of any such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of (and premium, if any) or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures, including, without limitation, the Guarantor) in the making of any payment of principal (and premium, if any) or interest; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For 80 72 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for three years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company and the Guarantor for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Maxtor Corp)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest (and Liquidated Damages, if any) so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest (and Liquidated Damages, if any) so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium, interest or Liquidated Damages, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default Default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interestinterest (and Liquidated Damages, if any); and
(3) at any time during the continuance of any such defaultDefault, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it shall, on or before each due date of the Accreted Value of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the Accreted Value (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and shall promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it willshall, on or prior to each due date for the payment of the principal Accreted Value of (and premium, if any) or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal Accreted Value (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andAccreted Value, premium, interest, and (unless such Paying Agent is the Trustee, ) the Company will shall promptly notify the Trustee of its action or failure so to act. The Company will shall cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent willshall:
(1) hold all sums held by it for the payment of the principal Accreted Value of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default Default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal Accreted Value (and premium, if any) or interest; and
(3) at any time during the continuance of any such defaultDefault, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the Accreted Value of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such Accreted Value (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; PROVIDED, HOWEVER, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining shall be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Oci Holdings Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of or interest on the on, any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest interest, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any such payment of principal or interest; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest on any Debentures and remaining unclaimed for 6 years after such principal or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debentures shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, shall, at the written direction of the Company and at the expense of the Company, cause to be published once, in an Authorized Newspaper in the Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Nibco Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or interest or premium, if any, on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest or premium, if any, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure to so act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of or interest on any of the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest or premium, if any, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andsums, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of or interest or premium, if any, on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal or interestinterest or premium, if any; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest or premium, if any, on any Debenture and remaining unclaimed for two (2) years after such principal or interest or premium, if any, has become due and payable, shall be paid to the Company upon Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in the Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. The Trustee and the Paying Agent shall promptly pay to the Company upon Company Request any excess money or securities held by them at any time.
Appears in 1 contract
Samples: Indenture (Bankatlantic Bancorp Inc)
Money for Debenture Payments to Be Held in Trust. Whenever If the Company shall have one or more assume the duties of Paying AgentsAgent, it will, on or before each due date of the principal of or interest or premium, if any, on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest or premium, if any, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure to so act. Whenever the Company is not acting as its own Paying Agent, it will, prior to each due date for the payment of the principal of or interest on any of the Debentures, deposit with a the Paying Agent a sum sufficient to pay the principal or interest or premium, if any, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andsums, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each the Paying Agent (if other than the Trustee Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of or interest or premium, if any, on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal or interestinterest or premium, if any; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any the Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest or premium, if any, on any Debenture and remaining unclaimed for two (2) years after such principal or interest or premium, if any, has become due and payable, shall be paid to the Company upon Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in the Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. The Trustee and the Paying Agent shall promptly pay to the Company upon Company Request any excess money or securities held by them at any time.
Appears in 1 contract
Samples: Indenture (Republic Bancshares Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of (and premium, if any) or interest on the any Debentures, it will deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal (and premium, if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interestinterest on the Debentures; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon . Upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Unless otherwise required by applicable law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust. The Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease, provided that the Trustee or such Paying Agent, before being required to make any such repayment, at the expense of the Company, may cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in Minneapolis or Saint Xxxx, Minnesota, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Paper Warehouse Inc)
Money for Debenture Payments to Be Held in Trust. If the ------------------------------------------------ Company shall at any time act as its own Paying Agent with respect to the Debentures, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to before each due date for the payment of the principal of or interest on the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal and premium (if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest; and;
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(d) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; , and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request, after all payments owing the Trustee have been paid, to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 1 contract
Samples: Indenture (Alcoa Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it shall, on or before each due date of the principal of, premium, if any. or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it willshall, on or prior to 10:00 a.m. New York City time on each due date for the payment of the principal of or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal principal, premium, if any, or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium, if any, or interest, and (unless such Paying Agent is the Trustee, ) the Company will shall promptly notify the Trustee of its action or failure so to act. The Company will shall cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this SectionSection 10.3, that such Paying Agent willshall:
(1) hold all sums held by it for the payment of the principal of of, premium, if any, or interest (including Additional Interest) on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal principal, premium, if any, or interest; andinterest (including Additional Interest);
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(4) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, or interest (including Additional Interest) on any Debenture and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Caremark Rx Inc)
Money for Debenture Payments to Be Held in Trust. If the Bank shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of, premium, if any, or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company Bank shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of of, premium, if any, or interest on any of the Debentures, deposit with a such Paying Agent Agents a sum sufficient to pay the principal principal, premium, if any, or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andthereto, and (unless such Paying Agent is the Trustee, ) the Company Bank will promptly notify the Trustee of its action or failure so to act. The Company Bank will cause each Paying Agent (other than the Trustee Bank or the Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of of, premium, if any, or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company Bank (or any other obligor upon the Debentures) in the making of any payment of principal principal, premium, if any, or interest; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Bank may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Order of the Bank direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company Bank or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company Bank or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Bank, in trust for the payment of the principal of, premium, if any, or interest on any Debenture and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Bank on Request of the Bank, or (if then held by the Bank) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look (as between the Bank and the Trustee) only to the Bank for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Bank as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make such repayment, may at the expense of the Bank mail or cause to be published once, in a newspaper (which is expected to be The Wall Street Journal), published in the English language, customarily published on each Business Day and of general circulation in the Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Bank.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. Whenever If the Company Corporation shall have one or more at any time act as its own Paying AgentsAgent for any series of Debentures and any Coupons appertaining thereto, it will, on or prior to before each due date for the payment of the principal of of, premium, if any, or interest on on, any of the DebenturesDebentures of such series, deposit with a Paying Agent segregate and hold in trust for the benefit of the persons entitled thereto a sum sufficient to pay the principal of, premium, if any, or interest so becoming due until such sums shall be paid to such persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. Whenever the Corporation shall have one or more Paying Agents for any series of Debentures, it will, on or before one Business Day prior to each due date of the principal of, premium, if any, or interest on, any Debentures of such series with respect to Paying Agents located outside the United States, and on or before each such due date with respect to Paying Agents located in the United States, deposit with such Paying Agents a sum sufficient to pay the principal of, premium, if any, or interest, so becoming due, such sum to be held in trust for the benefit of the persons entitled to such payments; andprincipal, premium or interest, and (unless such Paying Agent is the Trustee, ) the Company Corporation will promptly notify the Trustee of its action or failure so to act. The Company Corporation will cause each Paying Agent for any series of Debentures other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Sectionsection, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of of, premium, if any, or interest on the Debentures of such series in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company Corporation (or any other obligor upon the DebenturesDebentures of such series) in the making of any such payment of principal of, premium, if any, or interest; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Corporation may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Corporation Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company Corporation or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company Corporation or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Corporation, in trust for the payment of the principal of, premium, if any, or interest on any Debenture of any series and remaining unclaimed for 3 years after such principal of, premium, if any, or interest has become due and payable shall be paid to the Corporation on Corporation Request, or (if then held by the Corporation) shall be discharged from such trust; and the Person entitled to such money shall thereafter, as an unsecured general creditor, look only to the Corporation for payment thereof (and, in the case of Unregistered Securities, such payment to be made only at such place or place or places specified pursuant to Section 302), and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Corporation as trustee thereof, shall thereupon cease.
Appears in 1 contract
Samples: Indenture (Alliedsignal Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, prior to 11:00 a.m., New York City time, on or before each due date of the principal of or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to 11:00 a.m., New York City time, on each due date for the payment of the principal of or interest on the on, any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest interest, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any such payment of principal or interest; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest on any Debentures and remaining unclaimed for 2 years after such principal or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debentures shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, shall, at the written direction of the Company and at the expense of the Company, cause to be published once, in an Authorized Newspaper in the Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Nibco Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal (and premium, if any) of or interest (including any Additional Interest), on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest (including any Additional Interest) so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to 10:00 a.m. New York City time on each due date for the payment of the principal of or interest (including any Additional Interest) on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest (including any Additional Interest) so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal (and premium, if any) or interest (including any Additional Interest), and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
will (1i) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent, (ii) hold all sums held by it for the payment of the principal of (and premium, if any) or interest (including any Additional Interest) on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
, (2iii) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest; and
interest (3including any Additional Interest), and (iv) at any time during the continuance of any such defaultdefault by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money.. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest (including any Additional Interest) on any Debenture and remaining unclaimed for two years after such principal or interest has become due and payable shall (unless
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. Whenever If the Company shall have one or more at any time act as its own Paying AgentsAgent with respect to the Debentures, it will, on or prior to before each due date for the payment of the principal of (or premium, if any) or interest on any of the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest so becoming due, such sum to be held in trust for the benefit of the persons entitled to such payments; and, unless such Paying Agent is the Trustee, the Company will promptly notify the Trustee of its action or failure so to act. segregate The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (or premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (or premium, if any) or interest; and;
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(d) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; , and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money.. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (or premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (or premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request, after all payments owing the Trustee have been paid, to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as
Appears in 1 contract
Samples: Junior Convertible Subordinated Indenture (Newfield Financial Trust Ii)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it shall, on or before each due date of the principal of, premium, if any, or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it willshall, on or prior to 10:00 a.m. New York City time on each due date for the payment of the principal of or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal principal, premium, if any, or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium, if any, or interest, and (unless such Paying Agent is the Trustee, ) the Company will shall promptly notify the Trustee of its action or failure so to act. The Company will shall cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this SectionSection 10.3, that such Paying Agent willshall:
(1) hold all sums held by it for the payment of the principal of of, premium, if any, or interest (including Additional Interest) on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal principal, premium, if any, or interest; andinterest (including Additional Interest);
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(4) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, or interest (including Additional Interest) on any Debenture and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. Whenever If the Company shall have one or more assume the duties of Paying AgentsAgent, it will, on or before each due date of the principal of or interest or premium, if any, on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest or premium, if any, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure to so act. Whenever the Company is not acting as its own Paying Agent, it will, prior to each due date for the payment of the principal of or interest on any of the Debentures, deposit with a the Paying Agent a sum sufficient to pay the principal or interest or premium, if any, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andsums, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each the Paying Agent (if other than the Trustee Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of or interest or premium, if any, on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal or interestinterest or premium, if any; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any the Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest or premium, if any, on any Debenture and remaining unclaimed for two (2) years after such principal or interest or premium, if any, has become due and payable, shall be paid to the Company upon Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, including any interest thereon, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense of the Company cause to be published once, in an Authorized Newspaper in the Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. The Trustee and the Paying Agent shall promptly pay to the Company upon Company Request any excess money or securities held by them at any time.
Appears in 1 contract
Samples: Indenture (Republic Bancshares Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it shall, on or before each due date of the principal of, premium, if any. or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it willshall, on or prior to 10:00 a.m. New York City time on each due date for the payment of the principal of or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal principal, premium, if any, or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium, if any, or interest, and (unless such Paying Agent is the Trustee, ) the Company will shall promptly notify the Trustee of its action or failure so to act. The Company will shall cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this SectionSection 10.3, that such Paying Agent willshall:
(1) hold all sums held by it for the payment of the principal of of, premium, if any, or interest (including Additional Interest) on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal principal, premium, if any, or interest; andinterest (including Additional Interest);
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(4) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, shall be released from all further liability with respect to such money.to
Appears in 1 contract
Samples: Indenture (Txi Capital Trust I)
Money for Debenture Payments to Be Held in Trust. Whenever If the Company shall have one or more assume the duties of Paying AgentsAgent, it will, on or before each due date of the principal of or interest or premium, if any, on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest or premium, if any, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure to so act. Whenever the Company is not acting as its own Paying Agent, it will, prior to each due date for the payment of the principal of or interest on any of the Debentures, deposit with a the Paying Agent a sum sufficient to pay the principal or interest or premium, if any, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andsums, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each the Paying Agent (if other than the Trustee Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of or interest or premium, if any, on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal or interestinterest or premium, if any; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any the Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money.
Appears in 1 contract
Samples: Indenture (Republic Bancshares Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to the Debentures, it will, on or before each due date of the principal of (or premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (or premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to before each due date for the payment of the principal of or interest on the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (or premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal and premium (if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (or premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (or premium, if any) or interest; and;
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For ; and The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; , and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (or premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (or premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request, after all payments owing the Trustee have been paid, to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 1 contract
Samples: Junior Convertible Subordinated Indenture (Newfield Exploration Co /De/)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of (and premium, if any) or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal (and premium, if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest; and
(3) at any time during the continuance of any such default, default upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any money deposited with any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest, if, any, on any Debenture and remaining unclaimed for six years after such principal (and premium, if any) or interest, if any, has become due and payable shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of any such Debenture shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; PROVIDED, HOWEVER, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in each Place of Payment with respect to Debentures, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Nordstrom Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest (and Liquidated Damages, if any) so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest (and Liquidated Damages, if any) so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium, interest or Liquidated Damages, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the 91 Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default Default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interestinterest (and Liquidated Damages, if any); and
(3) at any time during the continuance of any such defaultDefault, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest (and Liquidated Damages, if any) on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on 92 each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. If ------------------------------------------------- the Company shall at any time act as its own Paying Agent it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or will prior to each due date for the payment of the principal of (and premium if any) or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest; and
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such -------- ------- Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest so becoming duesuch amount, such sum to be held in trust for as provided by the benefit of the persons entitled to such payments; andTrust Indenture Act, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
will (1) hold all sums held by it for the payment of the principal of or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
; (2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal or interestinterest on the Debentures; and
and (3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying AgentAgent for payment in respect of the Debentures. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, shall be released from all further liability with respect to such money.such
Appears in 1 contract
Samples: Indenture (KBK Capital Trust I)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or will prior to each due date for the payment of the principal of (and premium if any) or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest; and
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of and premium, if any, or interest on, any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly. notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of and premium, if any, or interest on the on, any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal principal, premium, if any, or interest interest, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, premium or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of of, premium, if any, or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any such payment of principal principal, premium, if any, or interest; and
(3) at any time anytime during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, or interest on any Debenture and remaining unclaimed for 6 years after such principal, premium, if any, or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, -look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in each Place of Payment of such Debenture, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Samples: Trust Indenture Agreement (SFG Mortgage & Investment Co Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to the Debentures, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to 11:00 a.m., New York City time on each due date for the payment of the principal of (and premium, if any) or interest on the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal and premium (if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will shall cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (and premium, if any) or interest; and;
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(d) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; , and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request, after all payments owing the Trustee have been paid, to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 1 contract
Samples: Indenture (United Rentals Inc /De)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest on, any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to before each due date for the payment of the principal of (and premium, if any) or interest on the on, any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest interest, so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal, (and premium, if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any such payment of principal (and premium, if any) or interestinterest on the Debentures; and
(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms names trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Debenture and remaining unclaimed for six years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in each Place of Payment, notice that such money remains unclaimed and that, after the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to the Debentures, it will, on or before each due date of the principal of (or premium, if any) or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (or premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to before each due date for the payment of the principal of or interest on the Debentures, deposit with a Paying Agent a sum sufficient to pay the principal (or premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the persons Persons entitled to such payments; andprincipal and premium (if any) or interest, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
(1a) hold all sums held by it for the payment of the principal of (or premium, if any) or interest on the Debentures in trust for the benefit of the persons Persons entitled thereto until such sums shall be paid to such persons Persons or otherwise disposed of as herein provided;
(2b) give the Trustee notice of any default by the Company (or any other obligor upon the Debentures) in the making of any payment of principal (or premium, if any) or interest; and;
(3c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and
(d) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Subordinated Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; , and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (or premium, if any) or interest on any Debenture and remaining unclaimed for two years after such principal (or premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request, after all payments owing the Trustee have been paid, to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 1 contract
Samples: Junior Convertible Subordinated Indenture (Tower Automotive Inc)
Money for Debenture Payments to Be Held in Trust. Whenever If the Company shall have one or more at any time act as its own Paying AgentsAgent with respect to the Debentures, it will, on or prior to before each due date for the payment of the principal of or any premium or interest on the Debentures, deposit with a Paying Agent segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or and any premium and interest so becoming due, due until such sum to sums shall be held in trust for the benefit of the persons entitled paid to such payments; and, unless such Paying Agent is the Trustee, the Company Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall utilize a Paying Agent for the Debentures, it will, prior to each due date of the principal of or any premium or interest on the Debentures, deposit with the Paying Agent a sum sufficient to pay such amount, such sum to be segregated and held in trust for the benefit of the Persons entitled thereto, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action of failure so to act. The Company will cause each the Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
will (1a) hold all sums held by comply with the provisions of this Indenture applicable to it for as a Paying Agent and (b) during the payment of the principal of or interest on the Debentures in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided;
(2) give the Trustee notice continuance of any default by the Company (or any other obligor upon the Debentures) in the making of any payment in respect of principal or interest; and
(3) at any time during the continuance of any such defaultDebentures, and upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying AgentAgent for payment in respect of the Debentures. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any premium or interest on any Debenture and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.
Appears in 1 contract
Samples: Indenture (Meridian Bioscience Inc)
Money for Debenture Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or interest on any of the Debentures, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents, it will, on or prior to each due date for the payment of the principal of or interest on the any Debentures, deposit with a Paying Agent a sum sufficient to pay the principal or interest so becoming duesuch amount, such sum to be held in trust for as provided by the benefit of the persons entitled to such payments; andTrust Indenture Act, and (unless such Paying Agent is the Trustee, ) the Company will promptly notify the Trustee of its action or failure so to act. The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:
will (1i) hold all sums held by it for comply with the payment provisions of the principal of or interest on Trust Indenture Act applicable to it as a Paying Agent and (ii) during the Debentures in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided;
(2) give the Trustee notice continuance of any default by the Company (or any other obligor upon the Debentures) in the making of any payment in respect of principal or interest; and
(3) at any time during the continuance of any such defaultDebentures, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying AgentAgent as such. For The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, the Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent, as the case may be, Agent shall be released from all further liability with respect to such money. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or interest on any Debenture and remaining unclaimed for two years after such principal or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of any such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.
Appears in 1 contract
Samples: Indenture (American Equity Investment Life Holding Co)
