Common use of Moneys Held by Trustee Clause in Contracts

Moneys Held by Trustee. Any moneys deposited with the Trustee or any Paying Agent or then held by the Issuers or any Guarantor in trust for the payment of the principal of, or premium, if any, or interest on any Note that are not applied but remain unclaimed by the Holder of such Note for two years after the date upon which the principal of, or premium, if any, or interest on such Note shall have respectively become due and payable shall be repaid to the Issuers (or, if appropriate, the applicable Guarantor) upon a written request of the Issuers in the form of an Officers' Certificate, or if such moneys are then held by the Issuers or any Guarantor in trust, such moneys shall be released from such trust; and the Holder of such Note entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Issuers and the Guarantors for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money shall thereupon cease.

Appears in 3 contracts

Samples: Indenture (Business Sound Inc), Indenture (Muzak Finance Corp), Indenture (Muzak Finance Corp)

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Moneys Held by Trustee. Any moneys deposited with the Trustee or any Paying Agent or then held by the Issuers Issuer or any Guarantor in trust for the payment of the principal of, or premium, if any, or interest on any Note that are not applied but remain unclaimed by the Holder of such Note for two years after the date upon which the principal of, or premium, if any, or interest on such Note shall have respectively become due and payable shall be repaid to the Issuers Issuer (or, if appropriate, the applicable Guarantor) upon a written request of the Issuers Issuer in the form of an Officers' ’ Certificate, or if such moneys are then held by the Issuers Issuer or any Guarantor in trust, such moneys shall be released from such trust; and the Holder of such Note entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Issuers Issuer and the Guarantors for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money shall thereupon cease.

Appears in 2 contracts

Samples: Indenture (Muzak Heart & Soul Foundation), Indenture (Muzak LLC)

Moneys Held by Trustee. Any moneys deposited with the Trustee or any Paying Agent or then held by the Issuers Company or any Guarantor Guarantors in trust for the payment of the principal of, or premium, if any, or interest on any Note that are not applied but remain unclaimed by the Holder of such Note for two years after the date upon which the principal of, or premium, if any, or interest on such Note shall have respectively become due and payable shall be repaid to the Issuers Company (or, if appropriate, the applicable GuarantorGuarantors) upon a written request of the Issuers in the form of an Officers' CertificateCompany Request, or if such moneys are then held by the Issuers Company or any Guarantor Guarantors in trust, such moneys shall be released from such trust; and the Holder of such Note entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Issuers Company and the Guarantors for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money shall thereupon cease.Agent

Appears in 1 contract

Samples: Indenture (Rural Metro of Ohio Inc)

Moneys Held by Trustee. Any moneys deposited with the Trustee or any Paying Agent or then held by the Issuers or any Guarantor the Guarantors in trust for the payment of the principal of, of or premium, if any, or interest on any Note that are not applied but remain unclaimed by the Holder holder of such Note for two years after the date upon which the principal of, or premium, if any, or interest on such Note shall have respectively become due and payable shall be repaid to the Issuers Company (or, if appropriate, Finance Co. or the applicable GuarantorGuarantors) upon a written request of the Issuers in the form of an Officers' CertificateCompany Request, or if such moneys are then held by the Issuers or any Guarantor the Guarantors in trust, such moneys shall be released from such trust; and the Holder holder of such Note entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Issuers and the Guarantors for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money shall thereupon cease.; provided, however, that the Trustee or any such Paying Agent, before being required to make any such repayment, may, at the expense of the Company and the Guarantors, either mail to each holder affected, at the address shown in the register of the Notes maintained by the Registrar pursuant to Section

Appears in 1 contract

Samples: Indenture (Skyterra Communications Inc)

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Moneys Held by Trustee. Any Subject to applicable escheatment law, any moneys deposited with the Trustee or any Paying Agent or then held by the Issuers or any Guarantor the Guarantors in trust for the payment of the principal of, or premium, if any, or interest on on, any Note that are not applied but remain unclaimed by the Holder of such Note for two years after the date upon which the principal of, or premium, if any, or interest on on, such Note shall have respectively become due and payable shall be repaid to the Issuers (or, if appropriate, the applicable Guarantor) upon a written request of the Issuers in the form of an Officers' CertificateGuarantors), or if such moneys are then held by the Issuers or any Guarantor the Guarantors in trust, such moneys shall be released from such trust; and the Holder of such Note entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Issuers and the Guarantors for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money shall thereupon cease. After payment to the Issuers or the Guarantors or the release of any money held in trust by the Issuers or any Guarantors, as the case may be, Holders entitled to the money must look only to the Issuers and the Guarantors for payment as general creditors unless applicable abandoned property law designates another Person.

Appears in 1 contract

Samples: Indenture (Trilogy International Partners Inc.)

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