Common use of Paying Agent to Hold Money Clause in Contracts

Paying Agent to Hold Money. The Issuer shall require each Paying Agent not a party to this Indenture to agree that such Paying Agent will hold for the benefit of Holders and the Trustee all money held by the Paying Agent for the payment of principal of, interest and premium, if any, Additional Amounts, if any, on the Notes, and shall promptly notify the Trustee of any Default by the Issuer in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer 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 Issuer, the Parent Guarantor or a Restricted Subsidiary) shall have no further liability for the money. If the Issuer, Parent Guarantor or 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 Parent 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 Paying Agent shall serve as an agent of the Trustee for the Notes.

Paying Agent to Hold Money. The Each Paying Agent other than the Trustee or the Issuer or any Subsidiary of the Issuer shall require each Paying Agent not a party to this Indenture to agree that such Paying Agent will hold for the benefit of Holders and or the Trustee all money held by the Paying Agent for the payment of principal of, interest and premium, if any, Additional Amountsor interest on, if any, the Notes (whether such money has been distributed to it by the Issuer or any other obligor on the Notes), and shall promptly notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay distribute all money held by it to the TrusteeTrustee and account for any money 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 money held by it to the Trustee and to account for any money distributed. Upon payment over distribution to the TrusteeTrustee of all money that shall have been delivered by the Issuer to the Paying Agent, the Paying Agent (if other than the Issuer, the Parent Guarantor Issuer or a Restricted SubsidiarySubsidiary of the Issuer) shall have no further liability for the such money. If the Issuer, Parent Guarantor Issuer or Restricted 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 insolvency, bankruptcy or reorganization proceedings relating to the Parent 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)Issuer, the Paying Agent Trustee shall serve as an agent of the Trustee Paying Agent for the Notes.

Paying Agent to Hold Money. The Issuer shall require each Each Paying Agent not a party to this Indenture to agree that such Paying Agent will (other than the Trustee or an Affiliate of the Trustee) shall hold for the benefit of Holders and the Trustee all money held received by the Paying Agent for the payment of principal ofprincipal, premium, interest and premium, if any, or Additional Amounts, if any, Amounts on the Notes (whether such money has been paid to it by the Issuer or any other obligor on the Notes), and the Issuer and the Paying Agent shall promptly notify the Trustee in writing of any Default default by the Issuer (or any other obligor on the Notes) in making any such payment. While Money held by a Paying Agent need not be segregated, except as required by law, and in no event shall any such Default continues, the Trustee Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a each Paying Agent to pay all money held by it to the Trustee. The Issuer at Trustee and account for any time funds disbursed, and the Trustee may require a any Paying Agent to pay forthwith all money so held by it to the TrusteeTrustee and to account for any funds disbursed. Upon payment over to the Trusteemaking such payment, the relevant Paying Agent (if other than the Issuer, the Parent Guarantor or a Restricted Subsidiary) shall have no further liability for the moneymoney delivered to the Trustee. If the Issuer or any of the Issuer, Parent Guarantor or Restricted Subsidiary ’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 insolvency, bankruptcy or reorganization proceedings relating to the Parent 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 an Event of creditors generally)Default, the Paying Agent shall Agents will serve as an agent Agents of the Trustee for the NotesTrustee.

Paying Agent to Hold Money. The Issuer shall require each Each Paying Agent not a party to this Indenture to agree that such Paying Agent will shall hold for the benefit of the Holders and or the Trustee all money held received by the Paying Agent for the payment of principal ofprincipal, premium, interest and premium, if any, Additional Amountsor 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 promptly notify the Trustee of any Default failure by the Issuer Company (or any other obligor on the Notes) in making any such paymentpayment The Paying Agent will not hold any amounts in trust. While 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 such Default continues, the Trustee Paying Agent be liable for any interest on any money received by it hereunder. The Company at any time may require a each Paying Agent to pay all money held by it to the Trustee. The Issuer at Trustee and account for any time may funds disbursed, and the Trustee may, if such a default has occurred and is continuing, require a any Paying Agent to pay forthwith all money so held by it to the TrusteeTrustee and to account for any funds disbursed. Upon payment over to the Trusteemaking such payment, the relevant Paying Agent (if other than the Issuer, the Parent Guarantor or a Restricted Subsidiary) shall have no further liability for the moneymoney delivered to the Trustee. If the Issuer, Parent Guarantor Company or Restricted 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 insolvency, bankruptcy or reorganization proceedings relating to the Parent 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)Company, the Trustee will serve as Paying Agent shall serve as an agent of the Trustee for the Notes.

Paying Agent to Hold Money. The Issuer shall will require each Paying Agent not a party to this Indenture 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 such the Paying Agent will hold for the benefit of Holders and the Trustee all money held by the Paying Agent for the payment of principal ofprincipal, interest and premium, if any, Additional Amounts, if any, or interest on the Notes, and shall promptly will notify the Trustee of any Default default by the Issuer in making any such payment. Money held by a Paying Agent need not be segregated, except as required by law, and in no event shall any Paying Agent be liable for interest on any money received by it hereunder. While any such Default default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer 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 Issuer, the Parent Guarantor Company or a Restricted Subsidiary) shall will have no further liability for the money. If the Issuer, Parent Guarantor Company or Restricted 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 insolvency, bankruptcy or reorganization proceedings relating to the Parent 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)Issuer, the Paying Agent shall Trustee and the Bank of New York Mellon (Luxembourg) S.A. will serve as an agent of the Trustee Paying Agents for the Notes.

Paying Agent to Hold Money. The Issuer shall require each Each Paying Agent not a party to this Indenture to agree that such Paying Agent will shall hold for the benefit of the Holders and or the Trustee all money held received by the Paying Agent for the payment of principal ofprincipal, premium, interest and premium, if any, Additional Amountsor 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 promptly notify the Trustee of any Default failure by the Issuer Company (or any other obligor on the Notes) in making any such paymentpayment The Paying Agent will not hold any amounts in trust. While 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 such Default continues, the Trustee Paying Agent be liable for any interest on any money received by it hereunder. The Company at any time may require a each Paying Agent to pay all money held by it to the Trustee. The Issuer at Trustee and account for any time may funds disbursed, and the Trustee may, if such a default has occurred and is continuing, require a any Paying Agent to pay forthwith all money so held by it to the TrusteeTrustee and to account for any funds disbursed. Upon payment over to the Trusteemaking such payment, the relevant Paying Agent (if other than the Issuer, the Parent Guarantor or a Restricted Subsidiary) shall have no further liability for the moneymoney delivered to the Trustee. If the Issuer, Parent Guarantor Company or Restricted 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 insolvency, bankruptcy or reorganization proceedings relating to the Parent 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)Company, the Trustee (or co-Trustee appointed by the Trustee) will serve as Paying Agent shall serve as an agent of the Trustee for the Notes.