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 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 Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures), and shall notify the Trustee in writing of any Default in making any such payment. If the 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Healthcare Realty Trust Inc

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Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that 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 Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Pride Petroleum Services Inc

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures)Securities, and shall notify the Trustee in writing of any Default by the Company in making any such payment. If the 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, the Paying Agent (if other than the Company or an Affiliate of Company), the Company) 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 Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Debentures (including Additional Interest) on Notes (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If the Company or an Affiliate of the Company 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 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 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 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.

Appears in 1 contract

Samples: Panamsat Corp /New/

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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, interest on or interest onLiquidated Damages, if any, with respect to, the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Indenture (Smartalk Teleservices Inc)

Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that 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 of, of or premium, if any, or interest on, on the Debentures Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the DebenturesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If the 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 Company 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 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 Company Issuers 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.

Appears in 1 contract

Samples: Couche Tard (3055854 Nova Scotia Co)

Paying Agent To Hold Assets in Trust. The Trustee as Paying Agent shall, and the Company shall require each Paying Agent other than the Trustee to agree in writing that 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, if any, of or interest on, the Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures)Series of Securities, and shall will notify the Trustee in writing of any Default by the Company in making any such payment. If While any such Default continues, the Company or an Affiliate of the Company 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 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, 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 Company to the Paying AgentTrustee, the Paying Agent (if other than the Company or an Affiliate a Subsidiary of the Company) 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: Shift Technologies, Inc.

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal Principal of, premium, if any, or interest on, the Debentures (whether such assets have been distributed to it Securities, and shall notify the Trustee of any Default by the Company (or any other obligor on the Debentures), and shall notify the Trustee in writing of any Default Securities) in making any such payment. If While any such Default continues, the Company or an Affiliate of the Company acts as Trustee shall require a Paying Agent, Agent to pay all money 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributeddisbursed. 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. If the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Securityholders all money held by it as Paying Agent. The Company shall notify the Trustee in writing at least 5 days before the Payment Date of the name and address of the Paying Agent if a person other than the Company is named Paying Agent at any time or from time to time.

Appears in 1 contract

Samples: Ibf Vi Guaranteed Income Fund

Paying Agent To Hold Assets in Trust. The 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 Debentures Notes (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 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 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.

Appears in 1 contract

Samples: NPR Inc

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent (other than the Trustee Trustee) to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Debentures Notes (whether such assets have been distributed to it by the Company Company, the Subsidiary Guarantors or any other obligor on the DebenturesNotes), 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 the 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 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, 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 Company, the Subsidiary Guarantors or any other obligor on the Notes 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.

Appears in 1 contract

Samples: Applied Power Inc

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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, on the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: May & Speh Inc

Paying Agent To Hold Assets in Trust. The Company ------------------------------------- shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets and/or Secondary Securities held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures)Securities, and shall notify the Trustee in writing of any Default by the Company in making any such payment. If the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets and/or Secondary Securities held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets and/or Secondary Securities held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets and/or Secondary Securities 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 assetsassets and/or Secondary Securities.

Appears in 1 contract

Samples: Tia Indenture (Jazz Casino Co LLC)

Paying Agent To Hold Assets in Trust. The Company Publishing shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures Senior Notes (whether such assets have been distributed to it by the Company Publishing or any other obligor on the DebenturesSenior 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 the Company Parent or an Affiliate any of the Company 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 Company 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, 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 Company Senior Notes) 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.

Appears in 1 contract

Samples: Indenture (Golden Books Family Entertainment Inc)

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures Notes (whether such assets have been distributed to it by the Company Company, or any other obligor on the DebenturesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Transamerican Refining Corp

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 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 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.

Appears in 1 contract

Samples: Tia Indenture (Hallmark America Inc)

Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee (or if the Company 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 of, premium, if any, or interest on, the Debentures on Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the DebenturesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If the 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 Company 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 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 Company Issuers 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.

Appears in 1 contract

Samples: Norcross Capital Corp

Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures Securities (whether such assets have been distributed to it by the Company Issuer or any other obligor on the DebenturesSecurities), 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 the Company Issuer or an Affiliate a Subsidiary of the Company 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 Company 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 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 Issuer 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.

Appears in 1 contract

Samples: Indenture (Revlon Inc /De/)

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that 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, if any, or interest on, the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), 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 the Company or an Affiliate of the Company 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 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 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 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.

Appears in 1 contract

Samples: Indenture (BWAY Holding CO)

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: United States Filter Corp

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures)Securities, and shall notify the Trustee in writing of any Default by the Company in making any such payment. If the 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, the Paying Agent (if other than the Company or an Affiliate of Company), the Company) 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: Fabrene Group Inc

Paying Agent To Hold Assets in Trust. The 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 Securityholders or the Trustee all assets money held by the such Paying Agent for the payment of principal of, premium, if any, of or interest on, on the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), 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 the Company or an Affiliate of the Company 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 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, 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 Company to the Paying AgentTrustee, the Paying Agent (if other than the Company or an Affiliate of the Company) shall have no further liability for such assetsmoney.

Appears in 1 contract

Samples: Pledge and Security Agreement (Brooke Group LTD)

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 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, 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.

Appears in 1 contract

Samples: Price Communications Corp

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Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Debentures Securities (whether such assets have been distributed to it by the Company Issuers or any other obligor on the DebenturesSecurities), and shall promptly notify the Trustee in writing of any Default in making any such payment. If the Company or an Affiliate either of the Company 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 Company 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 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 Issuers 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.

Appears in 1 contract

Samples: Indenture and Assumption Agreement (Centennial Cellular Corp)

Paying Agent To Hold Assets in Trust. The 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 Paying Agent for the payment of principal of, premium, if any, or interest or Liquidated Damages, if any, on, the Debentures Securities (whether such assets 30 39 have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 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 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.

Appears in 1 contract

Samples: Ekco Group Inc /De/

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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, interest on or interest onLiquidated Damages, if any, with respect to, the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Registration Rights Agreement (Apollo Investment Fund Iv Lp)

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 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 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 or an Affiliate of the Company) 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 Company shall require each Paying Agent (other than the Trustee Trustee) to agree in writing that each 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, if any, or interest on, the Debentures Notes (whether such assets have been distributed to it by the Company Company, the Subsidiary Guarantors or any other obligor on the DebenturesNotes), 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 the 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 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, 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 Company, the Subsidiary Guarantors or any other obligor on the Notes 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.

Appears in 1 contract

Samples: Indenture (Nm Licensing LLC)

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 and Liquidated Damages, if any, on, the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment DefaultPayment 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 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.

Appears in 1 contract

Samples: Tia Indenture (Petsmart Inc)

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), 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 the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, the Paying Agent (if other than the Company or an Affiliate a Subsidiary of the Company) 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 Company Publishing shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures Senior Notes (whether such assets have been distributed to it by the Company Publishing or any other obligor on the DebenturesSenior 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 the Company Parent or an its Subsidiary or 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 Trusteefund. The Company 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, 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 Company Senior Notes) 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.

Appears in 1 contract

Samples: Golden Books Family Entertainment Inc

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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, of or premium, if any, or interest on, on the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Parker Drilling Co /De/

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that 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 Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), 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 the Company or an Affiliate of the Company 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 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 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 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.

Appears in 1 contract

Samples: Indenture (Compass Minerals International Inc)

Paying Agent To Hold Assets in Trust. The 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 Paying Agent for the payment of principal of, premium, if any, or interest on, the Debentures Securities (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesSecurities), and shall notify the Trustee in writing of any Default default in making any such payment. If either of the 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 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 Company or any Guarantor 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.

Appears in 1 contract

Samples: Quality Food Centers Inc

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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 Debentures (whether such assets have been distributed to it by the Company or any other obligor on the Debentures), and shall notify the Trustee in writing of any Default in making any such payment. If the 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 TrusteeHolders. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Mercury Air Group Inc

Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing 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, and premium, if any, or interest and Liquidated Damages on, the Debentures Notes (whether such assets have been distributed to it by the Company or any other obligor on the DebenturesNotes), and shall notify the Trustee in writing of any Default in making any such payment. If either of the Company Company, Astor Holdings II or an Affiliate 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 Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the 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.

Appears in 1 contract

Samples: Indenture (Astor Corp)

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