Common use of Provision as to Paying Agent Clause in Contracts

Provision as to Paying Agent. (a) If the Company shall appoint a paying agent other than the Trustee with respect to the Securities, it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provision of this Section 3.04, (1) that it will hold all sums held by it as such agent for the payment of the principal of and premium, if any, or interest on the Securities (whether such sums have been paid to it by the Company or by any other obligor on the Securities of such series) in trust for the benefit of the holders of the Securities; (2) that it will give the Trustee notice of any failure by the Company (or by any other obligor on the Securities) to make any payment of the principal of and premium or interest on the Securities when the same shall be due and payable; and (3) that it will at any time during the continuance of any such failure, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by it as such paying agent. (b) If the Company shall act as its own paying agent, it will, on or before each due date of the principal of and premium, if any, or interest on the Securities, set aside, segregate and hold in trust for the benefit of the holders of the Securities a sum sufficient to pay such principal, premium or interest so becoming due and will notify the Trustee of any failure to take such action and of any failure by the Company (or by any other obli-

Provision as to Paying Agent. (a) If the Company Issuer shall appoint a paying agent Paying Agent other than the Trustee with respect to the SecuritiesTrustee, it will cause such paying agent Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provision provisions of this Section 3.04, 3.5, (1) that it will hold all sums held by it as such agent for the payment of the principal of and premiumor interest, if any, or interest on the Securities (whether such sums have been paid to it by the Company Issuer or by any other obligor on the Securities of such seriesSecurities) in trust for the benefit of the holders Holders of the SecuritiesSecurities or the Trustee; and (2) that it will give the Trustee notice of any failure by the Company Issuer (or by any other obligor on the Securities) to make any payment of the principal of and premium or interest interest, if any, on the Securities when the same shall be due and payable; and and (3) that it will will, at any time during the continuance of any such failure, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by it as such paying agentPaying Agent. (b) If the Company Issuer shall act as its own paying agentPaying Agent, it will, on or before each due date of the principal of and premiumor interest, if any, or interest on the Securities, set aside, segregate and hold in trust for the benefit of the holders Holders of the Securities a sum sufficient to pay such principalprincipal or interest, premium or interest if any, so becoming due and will notify the Trustee of any failure to take such action and of any failure by the Company (or by any other obli-will

Provision as to Paying Agent. (a) If if the Company Issuer shall appoint a paying agent Paying Agent other than the Trustee with respect to the SecuritiesTrustee, it will cause such paying agent Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provision provisions. of this Section 3.04, 3.5, (1) that it will hold all sums held by it as such agent for the payment of the principal of and premiumor interest, if any, or interest on the Securities (whether such sums have been paid to it by the Company Issuer or by any other obligor on the Securities of such seriesSecurities) in trust for the benefit of the holders Holders of the SecuritiesSecurities or the Trustee; and (2) that it will give the Trustee notice of any failure by the Company Issuer (or by any other obligor on the Securities) to make any payment of the principal of and premium or interest interest, if any, on the Securities when the same shall be due and payable; and and (3) that it will will, at any time anytime during the continuance of any such failure, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by it as such paying agentPaying Agent. (b) If the Company Issuer shall act as its own paying agentPaying Agent, it will, on or before each due date of the principal of and premiumor interest, if any, or interest on the Securities, set aside, segregate and hold in trust for the benefit of the holders Holders of the Securities a sum sufficient to pay such principalprincipal or interest, premium or interest if any, so becoming due and will notify the Trustee of any failure to take such action and of any failure by the Company Issuer (or by any other obli-obligor under the

Provision as to Paying Agent. (a) If the Company shall appoint a paying agent other than the Trustee with respect to the Securities, it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provision of this Section 3.04, , (1) that it will hold all sums held by it as such agent for the payment of the principal of and premium, if any, or interest on the Securities (whether such sums have been paid to it by the Company or by any other obligor on the Securities of such seriesSecurities) in trust for the benefit of the holders of the Securities; ; (2) that it will give the Trustee prompt written notice of any failure by the Company (or by any other obligor on the Securities) to make any payment of the principal of and premium or interest on the Securities when the same shall be due and payable; and and (3) that it will at any time during the continuance of any such failure, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by it as such paying agent. (b) If the Company shall act as its own paying agent, it will, on or before each due date of the principal of and premium, if any, or interest on the Securities, set aside, segregate and hold in trust for the benefit of the holders of the Securities a sum sufficient to pay such principal, premium or interest so becoming due and will notify the Trustee of any failure to take such action and of any failure by the Company (or by any other obli-obligor under the Securities) to make any payment of the principal of and premium, if any, or interest on the Securities when the same shall become due and payable.

Provision as to Paying Agent. (a) If the Company shall appoint a paying agent other than the Trustee with respect to the SecuritiesPaying Agent, it will cause such paying agent Paying Agent to execute and deliver to the Trustee Company an instrument in which such agent shall agree with the TrusteeCompany, subject to the provision of this Section 3.04, 3.3; (1) that it will hold all sums held by it as such agent for the payment of the principal of and premium, if any, or interest all payments due on the Debt Securities (whether such sums have been paid to it by the Company or by any other obligor on the Securities of such seriesDebt Securities) in trust for the benefit of the holders of the Debt Securities; ; (2) that it will give the Trustee Securityholders prompt written notice of any failure by the Company (or by any other obligor on the Debt Securities) to make any payment of the principal of and premium or interest on the Debt Securities when the same shall be due and payable; and and (3) that it will will, at any time during the continuance of any such failureEvent of Default, upon the written request of the TrusteeSecurityholders, forthwith pay to the Trustee Securityholders all sums so held in trust by it as such paying agentPaying Agent. (b) If the Company shall act as its own paying agentPaying Agent, it will, on or before each due date of the principal of and premium, if any, or interest payments due on the Debt Securities, set aside, segregate and hold in trust for the benefit of the holders of the Debt Securities a sum sufficient to pay such principal, premium or interest so becoming due and will notify the Trustee Securityholders in writing of any failure to take such action and of any failure by the Company (or by any other obli-obligor under the Debt Securities) to make any payment on the Debt Securities when the same shall become due and payable.