Common use of Repayment of the Company Clause in Contracts

Repayment of the Company. Any money deposited with the Trustee or any Paying Agent, or then held by the Company in trust for the payment of the principal of, premium, if any, or interest on any Security and remaining unclaimed for two years after such principal, interest or premium, if any, has become due and payable, shall be paid to the Company on its written request or (if then held by the Company) shall be discharged from such trust. The Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such notification or publication, any unclaimed balance of such money then remaining shall promptly be repaid to the Company.

Appears in 2 contracts

Samples: Security Agreement (Pioneer Companies Inc), Pioneer Companies Inc

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Repayment of the Company. Any money deposited with the Trustee or any Paying Agent, or then held by the Company Company, in trust for the payment of the principal of, premium, if any, or interest on any Security and remaining unclaimed for two years after such principal, interest or and premium, if any, or interest has become due and payable, payable shall be paid to the Company on its written request or (if then held by the Company) shall be discharged from such trust. The ; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; , provided, however, that the Trustee or such Paying Agent, -------- ------- before being required to make any such repayment, may at the expense of the Company cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such notification or publication, any unclaimed balance of such money then remaining shall promptly be repaid to the Company.

Appears in 1 contract

Samples: First Supplemental Indenture (Styrochem International LTD)

Repayment of the Company. Any money deposited with the Trustee or any Paying Agent, or then held by the Company Company, in trust for the payment of the principal of, premium, if any, or interest on any Security and remaining unclaimed for two years after such principal, interest or and premium, if any, or interest has become due and payable, payable shall be paid to the Company on its written request or (if then held by the Company) shall be discharged from such trust. The ; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; , provided, however, that the -------- ------- Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such notification or publication, any unclaimed balance of such money then remaining shall promptly be repaid to the Company.

Appears in 1 contract

Samples: Styrochem International Inc

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Repayment of the Company. Any money deposited with the Trustee or any Paying Agent, or then held by the Company in trust for the payment of the principal of, premium, if any, or interest on any Security and remaining unclaimed for two years after such principal, interest or premium, if any, has become due and payable, shall be paid to the Company on its written request or (if then held by the Company) shall be discharged from such trust. The Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; , provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such notification or publication, any unclaimed balance of such money then remaining shall promptly be repaid to the Company.

Appears in 1 contract

Samples: Pioneer Companies Inc

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