Common use of Paying Agent to Hold Money Clause in Contracts

Paying Agent to Hold Money. The Issuer will require each Paying Agent that is not a party hereto to agree in writing that such Paying Agent will hold for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium or Additional Amounts, if any, or interest on, the Notes, and will 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 will have no further liability for the money. Neither the Issuer nor any Subsidiary or Affiliate of the Issuer may act as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to 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 will serve as Paying Agent for the Notes.

Paying Agent to Hold Money. The Issuer will require each Paying Agent that other than the Trustee (and the Principal Paying Agent and/or Luxembourg Paying Agent, where the Trustee is not a party hereto 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 or the Trustee all money held by the Paying Agent for the payment of principal ofprincipal, premium or Additional Amountspremium, if any, or interest on, on the Notes, and will notify the Trustee of any 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 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 Company or a Subsidiary) will have no further liability for the money. Neither If the Issuer nor any Company or a Subsidiary or Affiliate acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Issuer may act Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to 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 Trustee and the Bank of New York Mellon (Luxembourg) S.A. will serve as Paying Agent Agents for the Notes.

Paying Agent to Hold Money. The Issuer will require each Paying Agent that is not a party hereto other than the Trustee to agree in writing that such the Paying Agent will hold for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium or Additional Amounts, if any, or interest on, on the Notes, and will notify the Trustee of any default Default by the Issuer in making any such payment. 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 or a Subsidiary) will have no further liability for the money. Neither If the Issuer nor any Parent or a Subsidiary or Affiliate of the Issuer may act 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 Parent 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 will shall serve as Paying Agent for the Notes.

Paying Agent to Hold Money. The Issuer will require each Paying Agent, other than the Trustee and the initial Paying Agent that is not a party hereto as of the date of this Indenture, to agree in writing that such each Paying Agent will hold hold, for the benefit of Holders or the Trustee Trustee, all money held by the Paying Agent for the payment of principal of, premium or Additional Amounts, if any, or interest on, the Notes, and will 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 or a Subsidiary of the Issuer) will have no further liability for the money. Neither If the Issuer nor any or a Subsidiary or Affiliate of the Issuer may act 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 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 Paying Agent will serve as an agent of the Trustee as Paying Agent for the Notes.Notes in accordance with Section 7.11. The Issuer shall, no later 38

Paying Agent to Hold Money. The Issuer will shall require each Paying Agent that is not a party hereto to this Indenture to agree in writing that such Paying Agent will hold for the benefit of Holders or and the Trustee all money held by the Paying Agent for the payment of principal of, premium or interest and premium, if any, Additional Amounts, if any, or interest on, on the Notes, and will shall promptly notify the Trustee of any default Default by the Issuer in making any such payment. 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 will (if other than the Issuer, the Parent Guarantor or a Restricted Subsidiary) shall have no further liability for the money. Neither If the Issuer nor any Issuer, Parent Guarantor or Restricted Subsidiary or Affiliate acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Issuer may act 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 Trustee will Paying Agent shall serve as Paying Agent an agent of the Trustee for the Notes.