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

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that the 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 interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. 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 all money held by it as Paying Agent.

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that the 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 of, premium, if any, interest on or Liquidated Damages with respect to, the Securities (whether such money has assets have been paid distributed to it by the Company or any other obligor on the Securities) ), and shall notify the Trustee in writing of any failure by the Company (or any other obligor on the Securities) Default in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary If either of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such assets and hold in them as a separate trust fund for the benefit of the Holders or the Trustee. The Company at any time may require a Paying Agent to distribute all money assets held by it as 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 Company to the Paying Agent, the Paying Agent (if other than the Company or an Affiliate of the Company) shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that the 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 and interest any amounts due on the Securities (whether such money has assets have been paid delivered to it by the Company or any other obligor on the Securities) ), and shall notify the Trustee in writing of any failure by the Company (or any other obligor on the Securities) Default in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary If either of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such assets and hold in them as a separate trust fund for the benefit of the Holders and the Trustee. The Company at any time may require a Paying Agent to deliver all money assets held by it as 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 deliver all assets held by it to the Trustee and to account for any assets delivered to it. Upon delivery to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, the Paying Agent (if other than the Company or an Affiliate of the Company) shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that the 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 and of, premium, if any, or interest on on, the Securities (whether such money has assets have been paid distributed to it by the Company or any other obligor on the Securities) ), and shall notify the Trustee in writing of any failure by the Company (or any other obligor on the Securities) Default in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary If either of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such assets and hold in them as a separate trust fund for the benefit of the Holders or the Trustee. The Company at any time may require a Paying Agent to distribute all money assets held by it as 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 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 Company shall require each Paying Agent other than the Trustee to agree in writing that the 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 of, premium, if any, interest on or Liquidated Damages with respect to, the Securities Notes (whether such money has assets have been paid distributed to it by the Company or any other obligor on the Securities) Notes), and shall promptly notify the Trustee in writing of any failure by the Company (or any other obligor on the Securities) Default in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary If either of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such assets and hold in them as a separate trust fund for the benefit of the Holders or the Trustee. The Company at any time may require a Paying Agent to distribute all money assets held by it as 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 Company to the Paying Agent, the Paying Agent (if other than the Company or an Affiliate of the Company) shall have no further liability for such assets.

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities securities (whether such money has been paid to it by the Company or any other obligor on the Securitiessecurities) and shall notify the Trustee trustee of any failure by the Company (or any other obligor on the Securitiessecurities) in making any such payment. While any such failure continues, the Trustee trustee may require a Paying Agent to pay all money held by it to the Trustee trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trusteetrustee. Upon payment over to the Trusteetrustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trusteetrustee. 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 all money held by it as Paying Agent.

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall will 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 of, premium, if any, or interest on on, or Liquidated Damages with respect to, the Securities Notes (whether such money has assets have been paid distributed to it by the Company or any other obligor on the Securities) Notes), and shall will notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) Notes in making any such payment. While any such failure Default continues, the Trustee may require a Paying Agent to pay distribute all money assets held by it to the Trustee and to account for any funds assets disbursed. The Company at any time may require a Paying Agent to pay all money assets held by it to the TrusteeTrustee and account for any assets disbursed. Upon payment over and accounting to the Trustee, the Paying Agent (if other than the Company or a Subsidiary any of the Companyits Subsidiaries) shall have no further liability for the money so paid over to the Trustee. 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 all money held by it as Paying Agent.other liability