Common use of Moneys Received by Trustee to Be Held in Trust Clause in Contracts

Moneys Received by Trustee to Be Held in Trust. Subject to the provisions of Article Twelve hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

Appears in 2 contracts

Samples: Sundstrand Corp /De/, Sundstrand Corp /De/

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Moneys Received by Trustee to Be Held in Trust. Subject to the provisions of Article Twelve hereofSection 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money moneys received by it hereunder except such as otherwise agreed it may agree with the CompanyCompany to pay thereon.

Appears in 1 contract

Samples: Aetna Capital Trust Iv

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Moneys Received by Trustee to Be Held in Trust. Subject to the provisions of Article Twelve hereofThirteen, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money moneys received by it hereunder except as otherwise agreed with the Companyhereunder.

Appears in 1 contract

Samples: Indenture (Palomar Medical Technologies Inc)

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