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 such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 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 or any Event of 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 (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 3 contracts

Samples: Indenture (Waterford Gaming LLC), Indenture (Waterford Gaming Finance Corp), Indenture (Waterford Gaming LLC)

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Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 3 contracts

Samples: Indenture (Universal Outdoor Inc), Indenture (Universal Outdoor Inc), Indenture (Universal Outdoor Inc)

Paying Agent To Hold Assets in Trust. The Issuers Issuer shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Issuer or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Issuer (or any other obligor on the Securities) in making any such payment. If either the Issuer, the Company or a Subsidiary of the Issuers Company acts as Paying Agent, it shall segregate such assets the money and hold them as it in a separate trust fund for the benefit of the Holders or the Trusteetrust. The Issuers Issuer 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 or any Event of 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 Issuer to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 3 contracts

Samples: Indenture (Scientific Games Corp), Indenture (Scientific Games Corp), Indenture (Scientific Games Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or if any, and interest on, on the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 distributed and the Trustee may at any time during the continuance of any payment Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 3 contracts

Samples: Indenture (Platinum Technology Inc), Indenture (Platinum Technology Inc), Indenture (Platinum Technology Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such that, subject to Article Four and Article Twelve, 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either of the Issuers Company or a Subsidiary 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 Trusteefund, subject to Article Four and Article Twelve. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 3 contracts

Samples: Indenture (Metals Usa Inc), Indenture (Smiths Food & Drug Centers Inc), Indenture (RSC Duval Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either the Company or an Affiliate of the Issuers Company acts as Paying Agent, it shall segregate such assets the money and hold them as it in a separate trust fund for the benefit of the Holders or the Trusteetrust. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Autotote Corp), Indenture (Autotote Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other future obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either the Company or an Affiliate of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Transtexas Gas Corp), Indenture (Transtexas Gas Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such each Paying Agent shall hold in trust for the benefit of Holders or and the Trustee all assets held by the Paying Agent for the payment of principal ofprincipal, premium, interest or interest onLiquidated Damages, if any, with respect to, the Securities Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 and 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 disbursed, and the Trustee may at any time during the continuance of any payment Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Mmi Products Inc), Indenture (Mmi Products Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, or interest on, the Securities Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Notes) in making any such payment. If either the Company or a Subsidiary of the Issuers 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 Trusteefund. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Gaylord Container Corp /De/), Indenture (Gaylord Container Corp /De/)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such that, subject to Article Four, 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either of the Issuers Company or a Subsidiary 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 Trusteefund, subject to Article Four. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Color Spot Nurseries Inc), Indenture (Color Spot Nurseries Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, or interest on, the Securities Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either the Company or a Subsidiary of the Issuers 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 Trusteefund. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Garden State Newspapers Inc), Indenture (Garden State Newspapers Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either the Company or a Subsidiary of the Issuers 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 Trusteefund. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Duane Reade Inc), Indenture (Duane Reade Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either the Company or a Subsidiary of the Issuers Company acts as Paying Agent, it shall segregate such assets the money and hold them as it in a separate trust fund for the benefit of the Holders or the Trusteetrust. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Scientific Games Corp), Indenture (Scientific Games Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such each Paying Agent shall hold in trust for the benefit of Holders or and the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, interest on or interest onLiquidated Damages with respect to, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 and 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Occusystems Inc), Indenture (Concentra Managed Care Inc)

Paying Agent To Hold Assets in Trust. The Issuers Issuer shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, on the Securities (whether such assets have been distributed to it by the Issuers Issuer or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Issuer (or any other obligor on the Securities) in making any such payment. If either the Issuer, the Company or a Subsidiary of the Issuers Company acts as Paying Agent, it shall segregate such assets the money and hold them as it in a separate trust fund for the benefit of the Holders or the Trusteetrust. The Issuers Issuer 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 or any Event of 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 Issuer to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Scientific Games Corp), Indenture (Scientific Games Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee (or if the Company or any of its Subsidiaries is acting as Paying Agent, segregate and hold in trust for the benefit of the Holders or the Trustee) all assets held by the Paying Agent for the payment of principal ofof or premium, premiumif any, or interest on, on the Securities Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Affinity Group Inc), Indenture (Affinity Group Holding, Inc.)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, interest on or interest onLiquidated Damages with respect to, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (United States Filter Corp), Indenture (Tower Automotive Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such that, subject to Article Four and Article Twelve, 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either of the Issuers Company or a Subsidiary 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 Trusteefund. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Bway Corp), Indenture (Bway Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (Sun Healthcare Group Inc), Indenture (Sun Healthcare Group Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall promptly notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 2 contracts

Samples: Indenture (American Cellular Corp /De/), Indenture (Pricellular Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either the Company or Subsidiary of the Issuers 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 Default or any Event of 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 either the Company or a Subsidiary of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (World Color Press Inc /De/)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, interest on or interest onLiquidated Damages, if any, with respect to, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Purchase Agreement (Apollo Investment Fund Iv Lp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 disbursed, and the Trustee may at any time during the continuance of any payment Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Price Communications Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, on the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (May & Speh Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent (other than the Trustee Trustee) to agree in writing that such 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, or interest on, the Securities Notes (whether such assets have been distributed to it by the Issuers Company, the Subsidiary Guarantors or any other obligor on the SecuritiesNotes), and the Company and the Paying Agent shall notify the Trustee in writing of any Default by the Company or the Subsidiary Guarantors (or any other obligor on the Notes) in making any such payment. If either of the Issuers 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 to account for any assets disbursed disbursed. The Trustee may, and upon direction of a majority of the Trustee may Holders shall, at any time during the continuance of any payment Default or any Event of 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, the Subsidiary Guarantors or any other obligor on the Notes to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Applied Power Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company in making any such payment. If either of the Issuers 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 Default or any Event of 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 either of the Issuers) Company), the Paying Agent shall have no further liability for such assets.. If the Company, any Guarantor or any of their respective Affiliates acts as Paying Agent, it shall, on or before each due date of the principal of or interest on the Securities, segregate and hold in trust for the benefit of the Persons entitled

Appears in 1 contract

Samples: Indenture (Fabrene Group Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default default in making any such payment. If either of the Issuers Company or an Affiliate 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 or any Event of 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 or any Guarantor to the Paying Agent, the Paying Agent (if other than either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Quality Food Centers Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, interest on or interest onLiquidated Damages, if any, with respect to, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers Company or a Subsidiary of the Company acts as Paying Agent, it shall shall, on or prior to the due date for any such payment, segregate such assets and hold them as a separate trust fund for the benefit of the Holders or the TrusteeHolders. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Smartalk Teleservices Inc)

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

Appears in 1 contract

Samples: Exchange Agreement (Brooke Group LTD)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, the Securities (including Additional Interest) on Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers Company or a Wholly Owned Restricted Subsidiary acts as Paying Agent, it shall segregate such assets the money held by it as Paying Agent and hold them it as a separate trust fund for the benefit of the Holders or the Trusteefund. 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 or any Event of Defaultdefault, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. 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 either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Panamsat Corp /New/)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such that, subject to Article Four and Article Twelve, 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either of the Issuers Company or a Subsidiary acts as Paying Agent, it 45 -36- shall segregate such assets and hold them as a separate trust fund for the benefit of the Holders or the Trusteefund, subject to Article Four and Article Twelve. 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 or any Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Bay Area Warehouse Stores Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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 ofof or premium, premiumif any, or interest on, on the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Parker Drilling Co /De/)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such that, subject to Articles Four, Ten and Article Twelve, 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Securities) in making any such payment. If either of the Issuers Company or a Subsidiary 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 Trusteefund. 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 or any Event of Defaultdefault, 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 either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (BWAY Holding CO)

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Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, and premium, or if any, interest and Liquidated Damages on, the Securities Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers Company, Astor Holdings II 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 Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Astor Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such each Paying Agent shall hold in trust for the benefit of Holders or the Trustee 12 all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Securities Debentures (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesDebentures), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Pride Petroleum Services Inc)

Paying Agent To Hold Assets in Trust. The Issuers Publishing shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities Senior Notes (whether such assets have been distributed to it by the Issuers Publishing or any other obligor on the SecuritiesSenior Notes), and shall notify the Trustee in writing of any Default by Publishing (or any other obligor on the Senior Notes) in making any such payment. If either Parent or any of the Issuers its Subsidiaries or Affiliates 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 Trusteefund. The Issuers Publishing 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 or any Event of 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 Publishing (or other obligor or guarantor on the Issuers Senior Notes) to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Golden Books Family Entertainment Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities Debentures (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesDebentures), and shall notify the Trustee in writing of any Default in making any such payment. If either the Company or an Affiliate of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Healthcare Realty Trust Inc)

Paying Agent To Hold Assets in Trust. The Issuers shall require each Paying Agent other than the Trustee to agree in writing that such 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, the Securities (whether such assets have been distributed to it by the Issuers or any other obligor on the Securities), and shall promptly notify the Trustee in writing of any Default in making any such payment. If either of the Issuers or a Subsidiary of the Issuers 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 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 or any Event of 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 (if other than either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Centennial Cellular Corp)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or if any, interest and Liquidated Damages, if any, on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of DefaultPayment Event, 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Petsmart Inc)

Paying Agent To Hold Assets in Trust. The Issuers Issuer shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Issuer or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Issuer (or any other obligor on the Securities) in making any such payment. If either the Issuer or a Subsidiary of the Issuers Issuer acts as Paying Agent, it shall segregate such assets the money and hold them as it in a separate trust fund for the benefit of the Holders or the Trusteetrust. The Issuers Issuer 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 or any Event of 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 Issuer to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Revlon Inc /De/)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall promptly notify the Trustee in writing of any Default in making any such payment. If either of the Issuers Company or an Affiliate 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 Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Community Distributors Inc)

Paying Agent To Hold Assets in Trust. The Issuers Publishing shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities Senior Notes (whether such assets have been distributed to it by the Issuers Publishing or any other obligor on the SecuritiesSenior Notes), and shall notify the Trustee in writing of any Default by Publishing (or any other obligor on the Senior Notes) in making any such payment. If either of the Issuers Parent or its Subsidiary or Affiliate 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 Trusteefund. The Issuers Publishing 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 or any Event of 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 Publishing (or other obligor or guarantor on the Issuers Senior Notes) to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Golden Books Family Entertainment Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent (other than the Trustee Trustee) to agree in writing that such Paying Agent shall to 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, or interest on, the Securities Notes (whether such assets have been distributed to it by the Issuers Company, the Subsidiary Guarantors or any other obligor on the SecuritiesNotes), and the Company and the Paying Agent shall notify the Trustee in writing of any Default by the Company or the Subsidiary Guarantors (or any other obligor on the Notes) in making any such payment. If either of the Issuers 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 to account for any assets disbursed disbursed. The Trustee may, and upon direction of a majority of the Trustee may Holders shall, at any time during the continuance of any payment Default or any Event of 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, the Subsidiary Guarantors or any other obligor on the Notes to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Nm Licensing LLC)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, the Securities Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default default by the Company (or any other obligor on the Notes) in making any such payment. If either ; provided,however, that this Section 2.04 shall not impose any fiduciary or other duties upon such agent in respect of the Issuers 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 TrusteeHolders. 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 or any Event of DefaultDe-fault, 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 AgentAgent and the completion of any accounting required to be made here-under, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets. None of the Company or any of its Subsidiaries may act as Paying Agent.

Appears in 1 contract

Samples: Indenture (Lyondell Chemical Co)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities (whether such assets have been distributed to it by the Issuers or any other obligor on the Securities), and shall notify the Trustee in writing of any Default by the Company in making any such payment. If either of the Issuers 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 Default or any Event of 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 either of the Issuers) Company), the Paying Agent shall have no further liability for such assets.. If the Company or any Guarantor or any of their respective Affiliates acts as Paying Agent, it shall, on or before each due date of the principal of or interest on the Securities,

Appears in 1 contract

Samples: Indenture (Scot Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities Debentures (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesDebentures), and shall notify the Trustee in writing of any Default in making any such payment. If either the Company or an Affiliate of the Issuers 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 TrusteeHolders. 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 or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Mercury Air Group Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default or Event of Default by the Company (or any other obligor on the Securities) in making any such payment. If either of the Issuers Company or a Subsidiary 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 Trusteefund. 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 or any payment Event of 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 either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Compass Minerals International Inc)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, or interest on, the Securities Notes (whether such assets have been distributed to it by the Issuers Company or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default by the Company (or any other obligor on the Notes) in making any such payment. If either the Company or a Subsidiary of the Issuers 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 Trusteefund. 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 or any Event of Default, upon written request to a Paying Agent, require such Paying 42 -33- 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 either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Gaylord Container Corp /De/)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, or interest on, the Securities Notes (whether such assets have been distributed to it by the Issuers Company, or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either the Company or a Subsidiary of the Issuers 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 Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Transamerican Refining Corp)

Paying Agent To Hold Assets in Trust. The Issuers shall require each Paying Agent other than the Trustee to agree in writing that such each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee (or if Parent or any of its Subsidiaries is acting as Paying Agent, segregate and hold in trust for the benefit of the Holders or the Trustee) all assets held by the Paying Agent for the payment of principal ofof or premium, premiumif any, or interest on, on the Securities Notes (whether such assets have been distributed to it by the Issuers or any other obligor on the SecuritiesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 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 or any Event of Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers to the Paying Agent, the Paying Agent (if other than either of the Issuers) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (3055854 Nova Scotia Co)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either the Company or an Affiliate of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (United States Filter Corp)

Paying Agent To Hold Assets in Trust. The Issuers Trustee as Paying Agent shall, and the Company shall require each Paying Agent other than the Trustee to agree in writing that such each Paying Agent shall shall, hold in trust for the benefit of Holders Securityholders of any Series of Securities or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, of or interest on, the Securities (whether such assets have been distributed to it by the Issuers or any other obligor on the Series of Securities), and shall will notify the Trustee in writing of any Default by the Company in making any such payment. If either of While any such Default continues, the Issuers acts as Trustee may require a Paying Agent, Agent to pay all assets held by it shall segregate such assets and hold them as a separate trust fund for the benefit of the Holders or to the Trustee. The Issuers Company at any time may require a Paying Agent to distribute pay 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 Trustee. Upon payment Default or any Event of Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it over 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 AgentTrustee, the Paying Agent (if other than either the Company or a Subsidiary of the IssuersCompany) shall have no further liability for such the 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 Securityholders of any Series of Securities all assets held by it as Paying Agent. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Securities.

Appears in 1 contract

Samples: Indenture (Shift Technologies, Inc.)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the such Paying Agent for the payment of principal of, premium, if any, or interest (or Liquidated Damages, if any) on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers 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 Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Big 5 Corp /Ca/)

Paying Agent To Hold Assets in Trust. The Issuers Company shall require each Paying Agent other than the Trustee to agree in writing that such 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, premium, if any, or interest on, the Securities (whether such assets have been distributed to it by the Issuers Company or any other obligor on the Securities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Issuers Company or a Subsidiary of the Company acts as Paying 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 Default or any Event of 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 either of the IssuersCompany) shall have no further liability for such assets.

Appears in 1 contract

Samples: Indenture (Hallmark America Inc)

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