Common use of Return of Unclaimed Funds Clause in Contracts

Return of Unclaimed Funds. Any money deposited with the Issuing and Paying Agent and remaining unclaimed for two years after the date upon which the last payment of principal of or interest on any Note to which such deposit relates shall have become due and payable, shall be repaid to the Issuer by the Issuing and Paying Agent on written demand, and the Holder of any Note to which such deposit related and entitled to receive payment thereafter shall look only to the Issuer for the payment thereof, and all liability of the Issuing and Paying Agent with respect to such money thereupon shall cease.

Appears in 2 contracts

Samples: Issuing and Paying Agency Agreement (Bank of America Corp /De/), Issuing and Paying Agency Agreement (Bank of America Corp /De/)

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Return of Unclaimed Funds. Any money deposited with the Issuing and Paying Agent and remaining unclaimed for two (2) years after the date upon which the last payment of principal of or interest on any Note to which such deposit relates shall have become due and payable, shall be repaid to the Issuer of such Note by the Issuing and Paying Agent on written demand, and the Holder of any Note to which such deposit related and entitled to receive payment shall thereafter shall look only to the Issuer thereof for the payment thereof, thereof and all liability of the Issuing and Paying Agent with respect to such money shall thereupon shall cease.

Appears in 1 contract

Samples: Issuing and Paying Agency Agreement (Nationsbank Corp)

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Return of Unclaimed Funds. Any money deposited with the ------------------------- Issuing and Paying Agent and remaining unclaimed for two (2) years after the date upon which the last payment of principal of or interest on any Note to which such deposit relates shall have become due and payable, shall be repaid to the Issuer of such Note by the Issuing and Paying Agent on written demand, and the Holder of any Note to which such deposit related and entitled to receive payment shall thereafter shall look only to the Issuer for the payment thereof, thereof and all liability of the Issuing and Paying Agent with respect to such money shall thereupon shall cease.

Appears in 1 contract

Samples: Issuing and Paying Agency Agreement (Bank of America Corp /De/)

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