Preferential Collection of Claims Against Depositor or Trust. If and when the Property Trustee shall be or become, directly or indirectly, a creditor of the Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act, the Property Trustee shall be subject to and shall take all actions necessary in order to comply with the provisions of Section 311(a) of Trust Indenture Act regarding the collection of claims against the Depositor or Trust (or any such other obligor), to the extent applicable.
Appears in 6 contracts
Samples: Trust Agreement (Metropolitan Financial Corp /Oh/), Trust Agreement (Metropolitan Capital Trust Ii), Trust Agreement (Metropolitan Financial Corp /Oh/)
