Common use of Monies and Property to Be Held in Trust Clause in Contracts

Monies and Property to Be Held in Trust. All monies and any property received by the Trustee or the Conversion Agent, as applicable, shall, until used or applied as provided in this Indenture, be held in trust for the purposes for which they were received. Money and property held by the Trustee in trust under this Indenture need not be segregated from other funds or property except to the extent required by law. The Trustee or the Conversion Agent, as applicable, shall be under no liability for interest on any money or property received by it under this Indenture except as may be agreed from time to time by the Company and the Trustee or the Conversion Agent, as applicable.

Appears in 5 contracts

Samples: Purchase Agreement (Quotient LTD), Indenture (Clovis Oncology, Inc.), Indenture (Clovis Oncology, Inc.)

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Monies and Property to Be Held in Trust. All monies and any property received by the Trustee or the Conversion Exchange Agent, as applicable, shall, until used or applied as provided in this Indenture, be held in trust for the purposes for which they were received. Money and property held by the Trustee in trust under this Indenture need not be segregated from other funds or property except to the extent required by law. The Trustee or the Conversion Exchange Agent, as applicable, shall be under no liability for interest on any money or property received by it under this Indenture except as may be agreed from time to time by the Company and the Trustee or the Conversion Exchange Agent, as applicable.

Appears in 1 contract

Samples: Indenture (CompoSecure, Inc.)

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Monies and Property to Be Held in Trust. All monies and any property received by the Trustee or the Conversion Agent, as applicable, shall, until used or applied as provided in this Indentureherein provided, be held in trust for the purposes for which they were received. Money and property held by the Trustee in trust under this Indenture hereunder need not be segregated from other funds or property except to the extent required by law. The Trustee or the Conversion Agent, as applicable, shall be under no liability for interest on any money or property received by it under this Indenture hereunder except as may be agreed from time to time by the Company and the Trustee or the Conversion Agent, as applicable,.

Appears in 1 contract

Samples: Indenture (Clovis Oncology, Inc.)

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