Common use of Money for Payments on Securities to Be Held in Trust Clause in Contracts

Money for Payments on Securities to Be Held in Trust. If the Company shall at any time act as its own Pay- ing Agent with respect to any series of Securities, it will, on or at the option of the Company before each due date of the principal of or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Per- sons 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 for any series of Securities, it will, prior to 12:00 noon, New York time, on each due date of the principal of or interest on any Securities of that series, deposit with a Pay- ing Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust 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 for any series of Securities other than the Trustee or the Company to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the pro- visions of this Section 1003, that such Paying Agent will (i) comply with the provisions of the Trust Indenture Act appli- cable to it as a Paying Agent and (ii) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent as such. The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Pay- ing 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 Trus- tee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such pay- ment by any Paying Agent to the Trustee, such Paying 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 Security of any series and remaining unclaimed for two years after such principal or interest has become due and payable shall be paid to the Com- pany on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security 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. The Trustee and the Paying Agent shall promptly pay to the Company upon request any excess money or securities held by them at any time.

Money for Payments on Securities to Be Held in Trust. If the Company shall at any time act as its own Pay- ing Paying Agent with respect to any series of Securities, it will, on or at the option of the Company before each due date of the principal of or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Per- sons 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 for any series of Securities, it will, prior to 12:00 noon, New York time, on each due date of the principal of or interest on any Securities of that series, deposit with a Pay- ing Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust 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 for any series of Securities other than the Trustee or the Company to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the pro- visions provisions of this Section 1003, that such Paying Agent will (i) comply with the provisions of the Trust Indenture Act appli- cable applicable to it as a Paying Agent and (ii) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent as such. The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Pay- ing 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 Trus- tee Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such pay- ment payment by any Paying Agent to the Trustee, such Paying 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 Security of any series and remaining unclaimed for two years after such principal or interest has become due and payable shall be paid to the Com- pany Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security 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. The Trustee and the Paying Agent shall promptly pay to the Company upon request any excess money or securities held by them at any time.

Money for Payments on Securities to Be Held in Trust. If In connection with an Issue of Debt Securities, the Company shall at any time act as its own Pay- ing Agent with respect to any series of Securities, it willshall, on or at before the option of applicable Payment Date, deposit or cause to be deposited into the Company before each due date of Distribution Account a sum sufficient to pay the principal of or and interest on any of the Securities of that seriesso becoming due, segregate and hold such sum to be held in trust for the benefit of the Per- sons Holders 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 principal and will promptly notify the Trustee of its action or failure so to act. Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to 12:00 noon, New York time, on each due date of the principal of or interest on any Securities of that series, deposit with a Pay- ing Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Actinterest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. The Trustee shall hold all sums held by it for the payment of Distributions on Pass-through securities or of principal of or interest on Debt Securities, as the case may be, in trust for the benefit of the Holders entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided. If there is any Paying Agent other than the Trustee, the Company will cause each Paying Agent for any series of Securities other than the Trustee or the Company to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the TrusteeTrustee that, subject to the pro- visions provisions of this Section 1003Section, that such Paying Agent will (i1) comply with hold all sums held by it for the provisions payment of Distributions on Pass-through securities or of principal of or interest on Debt Securities, as the case may be, in trust for the benefit of the Trust Indenture Act appli- cable Holders entitled thereto until such sums shall be paid to it such Persons or otherwise disposed of as a Paying Agent and herein provided; (ii2) during give the continuance Trustee notice of any default Default by the Company (or any other obligor upon the Securities of that seriesSecurities) in the making of any payment in respect of principal or interest; and (3) at any time during the Securities continuance of that seriesany such Default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent as suchAgent. The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture the Trust Agreement or for any other purpose, pay, or by Company Order direct any Pay- ing 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 Trus- tee Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such pay- ment payment by any Paying Agent to the Trustee, such Paying 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, Agent in trust for the payment of the principal of or interest on any Security of any series Securities and remaining unclaimed for two years after such Distribution or such principal or interest has become due and payable shall be paid to the Com- pany Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security Securities shall thereafter, as an unsecured general creditor, and subject to any applicable statute of limitations, 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 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 as trustee thereofcause 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 in which the Corporate Trust Office is located, give notice that such money remains unclaimed and that, after a date specified therein, which shall thereupon ceasenot 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 Trustee may also adopt and employ, at the expense of the Company, any other reasonable means of notification of such repayment (including, but not limited to, mailing notice of such repayment to Holders whose right to or interest in monies due and payable but not claimed is determinable from the records of any Paying Agent shall promptly pay to Agent, at the Company upon request any excess money or securities held by them at any timelast address as shown on the Register for each such Holder).