Common use of Money for Security Payments to be Held in Trust Clause in Contracts

Money for Security Payments to be Held in Trust. If the Guarantor shall at any time act as Paying Agent with respect to any Series of Securities, it will, on or before each due date of the principal of (or premium, if any) or interest, if any, on any of the securities of that Series, 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, 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.

Money for Security Payments to be Held in Trust. If the Guarantor shall at any time act as Paying Agent with respect to any Series series of Securities, it will, on or before each due date of the principal of (or premium, if any) or interest, if any, on any of the securities of that Seriesseries, 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, 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.

Money for Security Payments to be Held in Trust. If the Guarantor shall at any time act as Paying Agent with respect to any Series series of Securities, it will, on or before each due date of the principal of (or premium, if any) or interest, if any, on any of the securities Securities of that Seriesseries, 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, 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 to act.