Common use of Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years Clause in Contracts

Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years. Any moneys deposited with or paid to the Trustee or any Paying Agent for the payment of the principal of and any premium and interest on any Subordinated Security and any series of Coupons attached thereto and not so applied but remaining unclaimed under applicable law shall be transferred by the Trustee to the appropriate Persons in accordance with applicable laws, and the Holder of such Subordinated Security of such series and of any Coupons appertaining thereto shall thereafter look only to such Persons for any payment which such Holder may be entitled to collect and all liability of the Trustee and such Paying Agent with respect to such moneys shall thereupon cease.

Appears in 7 contracts

Samples: Subordinated Indenture (Covad Communications Group Inc), Subordinated Indenture (Flextronics International LTD), Subordinated Indenture (Lexar Media Inc)

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Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years. Any moneys deposited with or paid to the Trustee or any Paying Agent for the payment of the principal of and any premium and interest on any Subordinated Security and any series of Coupons attached thereto and not so applied but remaining unclaimed under applicable law shall be transferred by the Trustee to the appropriate Persons in accordance with applicable laws, and the Holder of such Subordinated Security of such series and of any Coupons appertaining thereto shall thereafter look only to such Persons for any payment which such Holder may be entitled to collect and all liability of the Trustee and such Paying Agent with respect to such moneys shall thereupon cease.

Appears in 6 contracts

Samples: Senior Indenture (Covad Communications Group Inc), Senior Indenture (Lexar Media Inc), Senior Indenture (Handspring Inc)

Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years. Any moneys deposited with or paid to the Trustee or any Paying Agent paying agent for the payment of the principal of and any premium and of, interest on or additional amounts in respect of any Subordinated Security and of any series of Coupons attached thereto and not so applied but remaining unclaimed under applicable law for two years after the date upon which such principal, interest or additional amount shall have become due and payable, shall be transferred repaid to the Issuer by the Trustee to the appropriate Persons in accordance with applicable lawsfor such series or such paying agent, and the Holder of such Subordinated Security the Securities of such series and of any Coupons appertaining thereto shall thereafter look only to such Persons the Issuer for any payment which such Holder may be entitled to collect collect, and all liability of the Trustee and such Paying Agent or any paying agent with respect to such moneys shall thereupon cease.

Appears in 4 contracts

Samples: Indenture (Par Technology Corp), Indenture (Concert Pharmaceuticals, Inc.), Indenture (Concert Pharmaceuticals, Inc.)

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Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years. Any moneys deposited with or paid to the Trustee or any Paying Agent for the payment of the principal of and any premium and interest on any Subordinated Security and any series of Coupons attached thereto and not so applied but remaining unclaimed for two years under applicable law shall be transferred by the Trustee to the appropriate Persons Company in accordance with applicable laws, and the Holder of such Subordinated Security of such series and of any Coupons appertaining thereto shall thereafter look only to such Persons for any payment which such Holder may be entitled to collect and all liability of the Trustee and such Paying Agent with respect to such moneys shall thereupon cease.

Appears in 1 contract

Samples: Subordinated Indenture (Quadramed Corp)

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