Common use of Paying Agent to Hold Money and Securities in Trust Clause in Contracts

Paying Agent to Hold Money and Securities in Trust. Except as otherwise provided herein, on or prior to each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as permitted by this Indenture, a combination thereof, sufficient to make such payments when so becoming due. 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 Securityholders or the Trustee all money and Ordinary Shares held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares so held in trust. If the Company or a Subsidiary or an Affiliate of any of them acts as Paying Agent, it shall segregate the money and Ordinary Shares held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares held by it to the Trustee and to account for any funds and Ordinary Shares disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Ordinary Shares.

Appears in 3 contracts

Samples: Indenture (Xl Capital LTD), Xl Capital LTD, Xl Capital LTD

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Paying Agent to Hold Money and Securities in Trust. Except In -------------------------------------------------- accordance with Section 4.05 and except as otherwise provided herein, on or prior to or on each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as if permitted by this Indenturethe terms hereof, a combination thereof, securities sufficient to make such payments when so becoming due. 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 Securityholders or the Trustee all money and Ordinary Shares securities held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such defaultdefault by the Company in making any payments in respect of the Securities, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares securities so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as Paying Agent, it shall segregate the money and Ordinary Shares securities held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares securities held by it to the Trustee and to account for any funds money and Ordinary Shares securities disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Ordinary Sharesand securities.

Appears in 2 contracts

Samples: Indenture (Merrill Lynch & Co Inc), Merrill Lynch Preferred Funding Vi L P

Paying Agent to Hold Money and Securities in Trust. Except as otherwise provided herein, not later than 10:00 a.m., New York City time, on or prior to each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares orCommon Stock, as permitted by this Indenture, a combination thereofif the requirements for payments in Common Stock are satisfied, sufficient to make such payments when so becoming due. The Company shall require each Paying Agent (if other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Securityholders or the Trustee all money and Ordinary Shares Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares Common Stock so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as Paying Agent, it shall segregate the money and Ordinary Shares Common Stock held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares Common Stock held by it to the Trustee and to account for any funds and Ordinary Shares Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Ordinary SharesCommon Stock.

Appears in 2 contracts

Samples: Omnicom Group Inc, Omnicom Capital Inc

Paying Agent to Hold Money and Securities in Trust. Except In accordance with Section 4.05 and except as otherwise provided herein, on or prior to or on each due date of for payments in respect of any Security, the Company shall deposit with the any Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as if permitted by this Indenturethe terms hereof, a combination thereof, securities sufficient to make such payments when so becoming due. 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 Securityholders or the Trustee all money and Ordinary Shares securities held by the such Paying Agent for the making of payments in respect of the Securities and shall promptly notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such defaultdefault by the Company in making any payments in respect of the Securities, the each Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares securities so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as Paying Agent, it shall segregate the money and Ordinary Shares securities held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares securities held by it to the Trustee and to account for any funds money and Ordinary Shares securities disbursed by it. Upon doing so, the such Paying Agent shall have no further liability for the such money or the Ordinary Sharesand securities.

Appears in 1 contract

Samples: Indenture (Stmicroelectronics Nv)

Paying Agent to Hold Money and Securities in Trust. Except In accordance with Section 4.05 and except as otherwise provided herein, on or prior to or on each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as if permitted by this Indenturethe terms hereof, a combination thereof, Common Stock sufficient to make such payments when so becoming due. 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 Securityholders or the Trustee all money and Ordinary Shares Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such defaultdefault by the Company in making any payments in respect of the Securities, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares Common Stock so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as Paying Agent, it shall segregate the money and Ordinary Shares Common Stock held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares Common Stock held by it to the Trustee and to account for any funds money and Ordinary Shares Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Ordinary Sharesand Common Stock.

Appears in 1 contract

Samples: Brightpoint Inc

Paying Agent to Hold Money and Securities in Trust. Except as otherwise provided herein, by no later than 10 a.m., New York City time, on or prior to each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as permitted by this Indenture, a combination thereof, Common Stock sufficient to make such payments when so becoming due. 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 Securityholders or the Trustee all money and Ordinary Shares Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares Common Stock so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as Paying Agent, it shall segregate the money and Ordinary Shares Common Stock held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares Common Stock held by it to the Trustee and to account for any funds and Ordinary Shares Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Ordinary SharesCommon Stock.

Appears in 1 contract

Samples: Indenture (Franklin Resources Inc)

Paying Agent to Hold Money and Securities in Trust. Except In accordance with Section 4.05 and except as otherwise provided herein, on or prior to or on each due date of for payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as if permitted by this Indenturethe terms hereof, a combination thereof, securities sufficient to make such payments when so becoming due. The Company shall require each the Paying Agent (if other than the Trustee) to agree in writing that the such Paying Agent shall hold in trust for the benefit of Securityholders or the Trustee all money and Ordinary Shares securities held by the such Paying Agent for the making of payments in respect of the Securities and shall promptly notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such defaultdefault by the Company in making any payments in respect of the Securities, the each Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares securities so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as the Paying Agent, it shall segregate the money and Ordinary Shares securities held by it as such Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares securities held by it to the Trustee and to account for any funds money and Ordinary Shares securities disbursed by it. Upon doing so, the such Paying Agent shall have no further liability for the such money or the Ordinary Sharesand securities.

Appears in 1 contract

Samples: Netease Com Inc

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Paying Agent to Hold Money and Securities in Trust. Except In --------------------------------------------------- accordance with Section 4.05 and except as otherwise provided herein, on or prior to or on each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as if permitted by this Indenturethe terms hereof, a combination thereof, securities sufficient to make such payments when so becoming due. 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 Securityholders or the Trustee all money and Ordinary Shares securities held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such defaultdefault by the Company in making any payments in respect of the Securities, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares securities so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as Paying Agent, it shall segregate the money and Ordinary Shares securities held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares securities held by it to the Trustee and to account for any funds money and Ordinary Shares securities disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Ordinary Sharesand securities.

Appears in 1 contract

Samples: _______________________ Indenture (Merrill Lynch & Co Inc)

Paying Agent to Hold Money and Securities in Trust. Except as otherwise provided herein, on or prior to 10 a.m., New York City time, on each due date of payments in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares or, as permitted by this Indentureif applicable, a combination thereof, Common Stock sufficient to make such payments when so becoming due. 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 Securityholders or Holders and/or the Trustee all money and Ordinary Shares Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares Common Stock so held in trust. If the Company or Company, a Subsidiary or an Affiliate of any either of them acts as Paying Agent, it shall segregate the money and Ordinary Shares Common Stock held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares Common Stock held by it to the Trustee and to account for any funds and Ordinary Shares Common Stock disbursed by it. Upon doing so, the Paying Agent shall have no further liability for the money or the Ordinary SharesCommon Stock.

Appears in 1 contract

Samples: Indenture (DST Systems Inc)

Paying Agent to Hold Money and Securities in Trust. Except as otherwise provided herein, on or prior to each due date of payments payment in respect of any Security, the Company shall deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) or Ordinary Shares Common Stock or, as permitted by this Indenture, a combination thereof, sufficient to make such payments when so becoming due. 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 Securityholders Holders or the Trustee all money and Ordinary Shares Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment. At any time during the continuance of any such default, the Paying Agent (if not the Trustee) shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Ordinary Shares Common Stock so held in trust. If the Company or a Wholly Owned Subsidiary or an Affiliate of any of them acts as Paying Agent, it shall segregate the money and Ordinary Shares Common Stock held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money and Ordinary Shares Common Stock held by it to the Trustee and to account for any funds and Ordinary Shares Common Stock disbursed by itthe Paying Agent. Upon doing socomplying with this Section 2.04, the Paying Agent shall have no further liability for the money or delivered to the Ordinary SharesTrustee.

Appears in 1 contract

Samples: Indenture (Saks Inc)

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