Common use of Paying Agent to Hold Money Clause in Contracts

Paying Agent to Hold Money. Each Paying Agent shall hold for the benefit of the Holders or the Trustee all money received by the Paying Agent for the payment of principal, premium, interest or Special Interest, if any, on the Notes (whether such money has been paid to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any failure by the Company (or any other obligor on the Notes) in making any such payment The Paying Agent will not hold any amounts in trust. Money held by a Paying Agent need not be segregated (other than when the Company acts as a Paying Agent), except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunder. The Company at any time may require each Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may, if such a default has occurred and is continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, the relevant Paying Agent shall have no further liability for the money delivered to the Trustee. If the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee (or co-Trustee appointed by the Trustee) will serve as Paying Agent for the Notes.

Paying Agent to Hold Money. Each Paying Agent shall hold for the benefit of the Holders or the Trustee all money received by the Paying Agent for the payment of principal, premium, interest or Special Interest, if any, on the Notes (whether such money has been paid to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any failure by the Company (or any other obligor on the Notes) in making any such payment The Paying Agent will not hold any amounts in trust. Money held by a Paying Agent need not be segregated (other than when the Company acts as a Paying Agent), except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunder. The Company at any time may require each Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may, if such a default has occurred and is continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, the relevant Paying Agent shall have no further liability for the money delivered to the Trustee. If the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee (or co-Trustee appointed by the Trustee) will serve as Paying Agent for the Notes.

Paying Agent to Hold Money. Each The Issuer will require each Paying Agent shall other than the Trustee to agree in writing that the Paying Agent will hold for the benefit of the Holders or the Trustee all money received held by the Paying Agent for the payment of principalprincipal of, premium, interest premium or Special InterestAdditional Amounts, if any, on the Notes (whether such money has been paid to it by the Company or any other obligor interest on the Notes), and the Company and the Paying Agent shall will notify the Trustee of any failure Default by the Company (or any other obligor on the Notes) Issuer in making any such payment The Paying Agent will not hold payment. While any amounts in trust. Money held by a Paying Agent need not be segregated (other than when such Default continues, the Company acts as a Paying Agent), except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunder. The Company at any time Trustee may require each a Paying Agent to pay all money held by it to the Trustee and account for Trustee. The Issuer at any funds disbursed, and the Trustee may, if such time may require a default has occurred and is continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursedTrustee. Upon making such paymentpayment over to the Trustee, the relevant Paying Agent shall (if other than the Issuer or a Subsidiary) will have no further liability for the money delivered to the Trusteemoney. If the Company Parent or a Subsidiary of the Parent acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the CompanyParent or the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), the Trustee (or co-Trustee appointed by the Trustee) will shall serve as Paying Agent for the Notes.

Paying Agent to Hold Money. Each The Issuer will require each Paying Agent shall hold for the benefit of the Holders or other than the Trustee (and the Principal Paying Agent and/or Luxembourg Paying Agent, where the Trustee is acting as Principal Paying Agent and/or Luxembourg Paying Agent) to agree in writing that the Paying Agent will hold all money received held by the Paying Agent for the payment of principal, premium, interest or Special Interest, if any, on the Notes (whether such money has been paid to it by the Company or any other obligor interest on the Notes), and the Company and the Paying Agent shall will notify the Trustee of any failure default by the Company (or any other obligor on the Notes) Issuer in making any such payment The Paying Agent will not hold any amounts in trustpayment. Money held by a Paying Agent need not be segregated (other than when the Company acts as a Paying Agent)segregated, except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunder. The Company at While any time such default continues, the Trustee may require each a Paying Agent to pay all money held by it to the Trustee and account for Trustee. The Issuer at any funds disbursed, and the Trustee may, if such time may require a default has occurred and is continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursedTrustee. Upon making such paymentpayment over to the Trustee, the relevant Paying Agent shall (if other than the Company or a Subsidiary) will have no further liability for the money delivered to the Trusteemoney. If the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the CompanyIssuer, the Trustee and the Bank of New York Mellon (or co-Trustee appointed by the TrusteeLuxembourg) S.A. will serve as Paying Agent Agents for the Notes.

Paying Agent to Hold Money. Each The Issuer shall require each Paying Agent shall not a party to this Indenture to agree that such Paying Agent will hold for the benefit of the Holders or and the Trustee all money received held by the Paying Agent for the payment of principalprincipal of, interest and premium, interest or Special Interestif any, Additional Amounts, if any, on the Notes (whether such money has been paid to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall promptly notify the Trustee of any failure Default by the Company (or any other obligor on the Notes) Issuer in making any such payment The Paying Agent will not hold payment. While any amounts in trust. Money held by a Paying Agent need not be segregated (other than when such Default continues, the Company acts as a Paying Agent), except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunder. The Company at any time Trustee may require each a Paying Agent to pay all money held by it to the Trustee and account for Trustee. The Issuer at any funds disbursed, and the Trustee may, if such time may require a default has occurred and is continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursedTrustee. Upon making such paymentpayment over to the Trustee, the relevant Paying Agent (if other than the Issuer, the Parent Guarantor or a Restricted Subsidiary) shall have no further liability for the money delivered to the Trusteemoney. If the Company Issuer, Parent Guarantor or a Restricted Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the CompanyParent Guarantor or the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), the Trustee (or co-Trustee appointed by the Trustee) will Paying Agent shall serve as Paying Agent an agent of the Trustee for the Notes.

Paying Agent to Hold Money. Each Paying Agent (other than the Trustee or an Affiliate of the Trustee) shall hold for the benefit of the Holders or the Trustee all money received by the Paying Agent for the payment of principal, premium, interest or Special Interest, if any, Additional Amounts on the Notes (whether such money has been paid to it by the Company Issuer or any other obligor on the Notes), and the Company Issuer and the Paying Agent shall notify the Trustee in writing of any failure default by the Company Issuer (or any other obligor on the Notes) in making any such payment The Paying Agent will not hold any amounts in trustpayment. Money held by a Paying Agent need not be segregated (other than when the Company acts as a Paying Agent)segregated, except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunder. The Company Issuer at any time may require each Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may, if such a default has occurred and is continuing, may require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, the relevant Paying Agent shall have no further liability for the money delivered to the Trustee. If the Company Issuer or a Subsidiary any of the Issuer’s subsidiaries acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Companyan Event of Default, the Trustee (or co-Trustee appointed by the Trustee) Agents will serve as Paying Agent for Agents of the NotesTrustee.

Paying Agent to Hold Money. Each Paying Agent other than the Trustee or the Issuer or any Subsidiary of the Issuer shall hold for the benefit of the Holders or the Trustee all money received held by the Paying Agent for the payment of principalprincipal of, premium, interest or Special Interest, if any, on or interest on, the Notes (whether such money has been paid distributed to it by the Company Issuer or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any failure Default by the Company Issuer (or any other obligor on the Notes) in making any such payment The Paying Agent will not hold any amounts in trust. Money held by a Paying Agent need not be segregated (other than when the Company acts as a Paying Agent), except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunderpayment. The Company Issuer at any time may require each a Paying Agent to pay distribute all money held by it to the Trustee and account for any funds disbursed, money disbursed and the Trustee maymay at any time during the continuance of any Payment Default, if such upon written request to a default has occurred and is continuingPaying Agent, require any such Paying Agent to pay forthwith distribute all money so held by it to the Trustee and to account for any funds disbursedmoney distributed. Upon making such paymentdistribution to the Trustee of all money that shall have been delivered by the Issuer to the Paying Agent, the relevant Paying Agent (if other than the Issuer or a Subsidiary of the Issuer) shall have no further liability for the money delivered to the Trusteesuch money. If the Company Issuer or a Subsidiary of the Issuer acts as Paying Agent, it will shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the CompanyIssuer, the Trustee (or co-Trustee appointed by the Trustee) will shall serve as Paying Agent for the Notes.