Common use of Provision as to Paying Agent Clause in Contracts

Provision as to Paying Agent. The Issuer shall act as its own paying agent and will, on or not more than seven days before each due date of the principal of or interest on the Notes, set aside, segregate and hold in trust for the benefit of the holders of the Notes of such series a sum sufficient to pay such principal or interest so becoming due.

Appears in 3 contracts

Samples: Subordinated Loan Agreement (Mascotech Inc), Subordinated Loan Agreement (Masco Corp /De/), Securities Purchase Agreement (Masco Corp /De/)

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Provision as to Paying Agent. The Issuer shall act as its own paying agent and will, on or not more than seven days before each due date of the principal of or interest on the Notes, set aside, segregate and hold in trust for the benefit of the holders of the Notes of such series a sum sufficient suffi- cient to pay such principal or interest so becoming due.

Appears in 1 contract

Samples: Securities Purchase Agreement (Mascotech Inc)

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