Common use of No Segregation of Monies; No Interest Clause in Contracts

No Segregation of Monies; No Interest. Any monies paid to or retained by the Indenture Trustee pursuant to any provision hereof and not then required to be distributed to the Certificate Holders, or the Owner as provided in Article III hereof need not be segregated in any manner except to the extent required by Law or Section 5.06, 7.04(g), 7.06(f) or 7.07(c) hereof, and may be deposited under such general conditions as may be prescribed by Law, and the Indenture Trustee shall not be liable for any interest thereon (except that the Indenture Trustee shall invest all monies held as directed by the Owner so long as no Default or Event of Default has occurred and is continuing (or in the absence of such direction, by the Majority In Interest of Certificate Holders) in Cash Equivalents; provided, however, that any payments received, or applied hereunder, by the Indenture Trustee shall be accounted for by the Indenture Trustee so that any portion thereof paid or applied pursuant hereto shall be identifiable as to the source thereof.

Appears in 9 contracts

Samples: Indenture and Security Agreement (Northwest Airlines Inc /Mn), Trust Indenture and Security Agreement (Northwest Airlines Corp), Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn)

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No Segregation of Monies; No Interest. Any Except as otherwise provided in Section 3.07 hereof, any monies paid to or retained by the Indenture Trustee pursuant to any provision hereof and not then required to be distributed to the Certificate Note Holders, or the Owner as provided in Article III hereof need not be segregated in any manner except to the extent required by Law or Section 5.06, 7.04(g), 7.06(f) or 7.07(c) 6.06 hereof, and may be deposited under such general conditions as may be prescribed by Law, and the Indenture Trustee shall not be liable for any interest thereon (except that the Indenture Trustee shall invest all monies held as directed by the Owner so long as no Default or Event of Default has occurred and is continuing (or in the absence of such direction, by the Majority In Interest of Certificate Note Holders) in Cash Equivalents); provided, however, that any payments received, or applied hereunder, by the Indenture Trustee shall be accounted for by the Indenture Trustee so that any portion thereof paid or applied pursuant hereto shall be identifiable as to the source thereof.

Appears in 6 contracts

Samples: Trust Indenture and Security Agreement (Us Airways Inc), Trust Indenture and Security Agreement (Us Airways Inc), Participation Agreement (Us Airways Inc)

No Segregation of Monies; No Interest. Any monies paid to or retained by the Indenture Trustee pursuant to any provision hereof and not then required to be distributed to the Certificate Holders, Note Holders or the Owner as provided in Article III hereof need not be segregated in any manner except to the extent required by Law or and Section 5.06, 7.04(g), 7.06(f) or 7.07(c) hereof5.09, and may be deposited under such general conditions as may be prescribed by Law, and the Indenture Trustee shall not be liable for any interest thereon (except that the Indenture Trustee shall invest all monies held as directed by the Owner so long as no Default or Event of Default has occurred and is continuing (or in the absence of such direction, by the Majority In Interest of Certificate Note Holders) in Cash Equivalents; provided, however, that any payments received, or applied hereunder, by the Indenture Trustee shall be accounted for by the Indenture Trustee so that any portion thereof paid or applied pursuant hereto shall be identifiable as to the source thereof.

Appears in 4 contracts

Samples: Indenture and Security Agreement (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc)

No Segregation of Monies; No Interest. Any monies paid to or retained by the Indenture Trustee pursuant to any provision hereof and not then required to be distributed to the Certificate Holders, Note Holders or the Owner as provided in Article III hereof need not be segregated in any manner except to the extent required by Law or and Section 5.06, 7.04(g), 7.06(f) or 7.07(c) hereof5.09, and may be deposited under such general conditions as may be prescribed by Law, and the Indenture Trustee shall not be liable for any interest thereon (except that the Indenture Trustee shall invest all monies held as directed by the Owner so long as no Default or Event of Default has occurred and is continuing (or in the absence of such direction, by the Majority In Interest of Certificate Note Holders) in Cash Equivalents; provided, however, that any payments received, or applied hereunder, by the Indenture Trustee shall be accounted for by the Indenture Trustee so that any portion thereof paid or applied pursuant hereto shall be identifiable as to the source thereof.

Appears in 1 contract

Samples: Indenture and Security Agreement (Us Airways Inc)

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No Segregation of Monies; No Interest. Any monies paid to or retained by the Indenture Trustee pursuant to any provision hereof and not then required to be distributed to the Certificate Holders, or the Owner as provided in Article III hereof need not be segregated in any manner except to the extent required by Law or Section 5.06, 7.04(g), 7.06(f) or 7.07(c) hereof, and may be deposited under such general conditions as may be prescribed by Law, and the Indenture Trustee shall not be liable for any interest thereon (except that the Indenture Trustee shall invest all monies held as directed by the Owner so long as no Default or Event of Default has occurred and is continuing (or in the absence of such direction, by the Majority In Interest of Certificate Holders) in Cash Equivalents; providedPROVIDED, howeverHOWEVER, that any payments received, or applied hereunder, by the Indenture Trustee shall be accounted for by the Indenture Trustee so that any portion thereof paid or applied pursuant hereto shall be identifiable as to the source thereof.

Appears in 1 contract

Samples: Trust Indenture and Security Agreement (Northwest Airlines Corp)

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