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

Preferential Collection of Claims Against Issuer. (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 Issuer within 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: Willis North America Inc, Willis North America Inc, Centennial Puerto Rico Operations Corp

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Preferential Collection of Claims Against Issuer. (a) Subject to the provisions of subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Issuer Company within three months prior to a default, as defined in subsection (cb) 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 Debentures and the holders of other indenture securities, securities (as defined in subsection (c) of this Section:):

Appears in 2 contracts

Samples: Hawaiian Electric Industries Inc, Hei Preferred Funding L P

Preferential Collection of Claims Against Issuer. (a) 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 Issuer Obligors within 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: Share Repurchase Agreement (American International Group Inc), Supplemental Indenture (AerCap Global Aviation Trust)

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Preferential Collection of Claims Against Issuer. (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 any Issuer within three months prior to a default, as defined in subsection (cC) 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 of such Issuer and the holders of other indenture securities, as defined in subsection (cC) of this Section:

Appears in 1 contract

Samples: Indenture (Lloyds Banking Group PLC)

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