Common use of Preferential Collection of Claims Against Company Clause in Contracts

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection (c) of this Section:

Appears in 7 contracts

Samples: Indenture (Meadwestvaco Corp), Indenture (St Paul Companies Inc /Mn/), Indenture (St Paul Companies Inc /Mn/)

AutoNDA by SimpleDocs

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four 3 months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, securities (as defined in Subsection (c) of this Section:):

Appears in 5 contracts

Samples: Annual Report, Indenture (Diamond Offshore Drilling Inc), Indenture (Neiman Marcus Group Inc)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Debt Securities and coupons and the holders of other indenture securities, securities (as defined in Subsection (c) of this Section:):

Appears in 4 contracts

Samples: Indenture (Bankamerica Corp/De/), Indenture (Bankamerica Corp/De/), Indenture (Bankamerica Corp/De/)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection (c) of this Section:

Appears in 4 contracts

Samples: Indenture (PHH Corp), Indenture (Nordstrom Credit Inc), Indenture (PHH Corp)

Preferential Collection of Claims Against Company. Subject to Subsection subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Debt Securities and the holders of other indenture securities, securities (as defined in Subsection subsection (c) of this Section:):

Appears in 3 contracts

Samples: Subordinated Indenture (Tesoro Alaska Co), Subordinated Indenture (Meridian Resource CORP), Senior Indenture (Tesoro Alaska Co)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this SectionSection 613, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection (c) of this SectionSection 613, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection (c) of this SectionSection 613:

Appears in 3 contracts

Samples: Indenture (Western Massachusetts Electric Co), Indenture (Western Massachusetts Electric Co), Indenture (Central Power & Light Co /Tx/)

Preferential Collection of Claims Against Company. Subject to Subsection (b2) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection (c3) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection (c3) of this Section:

Appears in 3 contracts

Samples: Indenture (International Lease Finance Corp), Indenture (International Lease Finance Corp), Indenture (International Lease Finance Corp)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection (ce) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection (c) of this Section:

Appears in 2 contracts

Samples: Indenture (Kerr McGee Corp /De), Indenture (Kerr McGee Corp /De)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and Coupons, if any, and the holders of other indenture securities, as defined in Subsection (c) of this Section:

Appears in 2 contracts

Samples: Indenture (Ubs Americas Inc), Indenture (Ubs Americas Inc)

Preferential Collection of Claims Against Company. Subject to Subsection subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection subsection (c) of this Section:

Appears in 2 contracts

Samples: Indenture (Potlatch Corp), Indenture (Potlatch Corp)

AutoNDA by SimpleDocs

Preferential Collection of Claims Against Company. (a) ------------------------------------------------- Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and coupons and the holders of other indenture securities, as defined in Subsection (c) of this Section:

Appears in 1 contract

Samples: Indenture (United Technologies Corp /De/)

Preferential Collection of Claims Against Company. Subject to Subsection subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection subsection (c) of this Section:

Appears in 1 contract

Samples: Indenture (Energen Corp)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such 613 default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities, as defined in Subsection (c) of this Section:

Appears in 1 contract

Samples: Indenture (PPG Industries Inc)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders holders of the Securities and the holders of other indenture securities, as defined in Subsection (c) of this Section:

Appears in 1 contract

Samples: Indenture (Weyerhaeuser Co)

Preferential Collection of Claims Against Company. Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such a default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Debt Securities and the holders of other indenture securities, securities (as defined in Subsection (c) of this Section:):

Appears in 1 contract

Samples: Indenture (Tandy Corp /De/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!