Common use of Paying Agent To Hold Assets in Trust Clause in Contracts

Paying Agent To Hold Assets in Trust. The Issuers shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers or any other obligor on the Notes), and shall notify the Trustee of any Default by the Issuers (or any other obligor on the Notes) in making any such payment. The Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers or any other obligor Contingent Payments on the Notes)Securities, and shall notify the Trustee in writing of any Default by the Issuers (or any other obligor on the Notes) Company in making any such payment. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund for the benefit of the Holders or the Trustee. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent (if other than the Company) shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee or the Company or any Subsidiary to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the NotesSecurities) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders of any Series of Securities all money held by it as Paying Agent.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article EightTen and Section 11.02, each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Company and the Paying Agent shall 106 -33- notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, each that such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of Accreted Value or principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, on the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, each that such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any Default by the Issuers 42 -34- Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment Defaultpayment default under Article Four, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee Trus- tee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other 43 -35- obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. 43 The Issuers Company shall require each Paying Agent other than the Trustee or the Company or any Subsidiary to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, each that such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of Accreted Value or principal of, of or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article EightTen and Section 11.02, each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or premium or interest on, the Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the Notes) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Eight, that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes Debentures (whether such assets have been distributed to it by the Issuers Company or any other obligor on the NotesDebentures), and the Company and the Paying Agent shall notify the Trustee of any Default by the Issuers Company (or any other obligor on the NotesDebentures) in making any such payment. The Issuers Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Payment payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.