Common use of Return of Unclaimed Monies Clause in Contracts

Return of Unclaimed Monies. Any monies deposited with or paid to the Trustee or any Paying Agent for the Securities, or then held by the Company in trust, for the payment of any principal, premium, if any, and interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years after the date upon which the principal of, premium, if any, and interest, if any, on the Securities, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by such Trustee or any Paying Agent on written demand by the Company or (if then held by the Company or any Affiliate) shall be discharged from such trust; and the Holders of the Securities entitled to receive such payment shall thereafter look only to the Company for the payment thereof; provided, however, that, before being required to make any such repayment, the Trustee may, or shall at the written request of the Company, at the expense of the Company, cause to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities shall be located and in an authorized newspaper in the City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the Trustee) that said monies remain unclaimed and that, after a date named therein, any unclaimed balance of said monies then remaining will be returned to the Company.

Appears in 3 contracts

Samples: Indenture (Alternative Living Services Inc), Indenture (Rent Way Inc), American Retirement Corp

AutoNDA by SimpleDocs

Return of Unclaimed Monies. Any monies deposited with or paid to the Trustee or any Paying Agent for the SecuritiesSecurities of any series, or then held by the Company in trust, for the payment of any principal, premium, if any, and interest, if any, on the Securities of any series and not applied but remaining unclaimed by the Holders of the Securities of such series for two years after the date upon which the principal of, premium, if any, of and interest, if any, on the SecuritiesSecurities of such series, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by such Trustee or any Paying Agent on written demand by the Company or (if then held by the Company or any AffiliateCompany) shall be discharged from such trust; and the Holders of the Securities of such series entitled to receive such payment shall thereafter look only to the Company for the payment thereof; provided, however, that, before being required to make any such repayment, the such -------- ------- Trustee may, or shall at the written request of the Company, at the expense of the Company, cause to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities of such series shall be located and in an authorized newspaper in the City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the such Trustee) that said monies remain unclaimed and that, after a date named therein, any unclaimed balance of said monies then remaining will be returned to the Company.

Appears in 2 contracts

Samples: Indenture (Assisted Living Concepts Inc), Indenture (Assisted Living Concepts Inc)

Return of Unclaimed Monies. Any Notwithstanding any provisions of this Indenture, any monies deposited with or paid to the any Trustee or any Paying Agent for the Securities, or then held by the Company in trust, trust for the payment of any principal, premium, if any, and interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years after the date upon which the principal of, premiumor interest or any applicable Make-Whole Amount on, if anyany Notes and remaining unclaimed for two (2) years after the last date on which any such principal, and interest, if any, on the Securities, as the case may be, interest or any applicable Make-Whole Amount shall have become due and payablepayable (whether at maturity or upon optional or required prepayment or by declaration as provided in this Indenture), shallshall then be repaid to the Issuer upon its Written Request, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property lawlaws, be repaid to the Company by such Trustee or any Paying Agent on written demand by the Company or (if then held by the Company or any Affiliate) shall be discharged from such trust; and the Holders holders of the Securities such Notes, unless otherwise required by mandatory provisions of applicable escheat or abandoned property laws, shall thereafter be entitled to receive such payment shall thereafter look only to the Company Issuer for the payment repayment thereof, and all liability of such Trustee with respect to such monies shall thereupon cease; provided, however, thatthat before the repayment of such monies to the Issuer, before being as aforesaid, such Trustee shall (at the cost of the Issuer) first mail to all holders of the Notes then Outstanding at their addresses as set forth in the register required to make any such repayment, the Trustee may, or shall at the written request of the Company, at the expense of the Company, cause be maintained pursuant to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities shall be located and in an authorized newspaper in the City of New York, or mail to each such HolderSection 2.3, a notice (in such form as may be deemed appropriate by the Trustee) that said monies remain unclaimed and that, after a date named thereinin said notice, any unclaimed which date shall not be less than ten (10) or more than twenty (20) days after the date of the first mailing of such notice, the balance of said such monies then remaining unclaimed will be returned to the CompanyIssuer. In the event of the repayment of any such monies to the Issuer as aforesaid, the holders of the Notes in respect of which such monies were deposited shall thereafter be deemed to be unsecured creditors of the Issuer for amounts equivalent to the respective amounts deposited for the payment of such Notes and so repaid to the Issuer (without interest thereon and subject to applicable escheat and abandoned property laws).

Appears in 2 contracts

Samples: Trust Indenture and Security Agreement (Noble Drilling Corp), Trust Indenture and Security Agreement (Noble Drilling Corp)

Return of Unclaimed Monies. Any Subject to the requirements of applicable law, any monies deposited with or paid to the Trustee or any Paying Agent for the Securities, or then held by the Company in trust, for the payment of any principal, premium, if any, the principal of or interest (including Contingent Interest and interest, if any, Liquidated Damages) on the Securities Convertible Notes and not applied but remaining unclaimed by the Holders of the Securities holders thereof for two years after the date upon which the principal of, premium, if any, of or interest (including Contingent Interest and interest, if any, Liquidated Damages) on the Securitiessuch Convertible Notes, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company by the Trustee on demand; provided, however, that the 47 Company, or the Trustee at the request and expense of the Company, shall have first caused notice of such Trustee or any Paying Agent on written demand by payment to the Company or (if then held by to be mailed to each holder of a Convertible Note entitled thereto no less than 30 days prior to such payment and all liability of the Company or any Affiliate) Trustee shall be discharged from thereupon cease with respect to such trustmonies; and the Holders holder of any of the Securities entitled to receive such payment Convertible Notes shall thereafter look only to the Company for any payment which such holder may be entitled to collect unless an applicable abandoned property law designates another person. In the payment thereof; providedabsence of a written request from the Company or the Guarantor to return unclaimed funds to the Company or the Guarantor, however, that, before being required to make any such repaymentas the case may be, the Trustee mayshall from time to time deliver all unclaimed funds held by it in any capacity hereunder to or as directed by applicable escheat authorities, or shall at as determined by the written request Trustee in its sole discretion, in accordance with the customary practices and procedures of the Company, at Trustee. Any unclaimed funds held by the expense of the Company, cause Trustee in any capacity hereunder pursuant to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities this Section 11.4 shall be located held uninvested and in an authorized newspaper in the City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the Trustee) that said monies remain unclaimed and that, after a date named therein, without any unclaimed balance of said monies then remaining will be returned to the Companyliability for interest.

Appears in 1 contract

Samples: Gatx Corp

Return of Unclaimed Monies. Any monies deposited with or paid The Trustee and the Paying Agent shall promptly notify the Company of, and pay to the Company upon the request of the Company, any excess money held by them at any time. The Trustee or the Paying Agent, as the case may be, shall provide written notice to the Company of any Paying Agent for the Securities, or then money that has been held by the Company in trustit and has, for a period of two (2) years, remained unclaimed for the payment of any principal, premium, if any, and interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years after the date upon which the principal of, premium, if any, or any accrued and interestunpaid interest (including Additional Interest, if any) on, the Notes. The Trustee and the Paying Agent shall pay to the Company upon the written request of the Company any money held by them for the payment of the principal of, premium, if any, on the Securities, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by such Trustee or any Paying Agent on written demand by accrued and unpaid interest (including Additional Interest, if any), the Company or Notes that remains unclaimed for two (if then held by the Company or any Affiliate2) shall be discharged from such trust; and the Holders of the Securities entitled to receive such payment shall thereafter look only to the Company for the payment thereofyears; provided, however, thatthat the Trustee or such Paying Agent, before being required to make any such repayment, may (in no event later than five (5) days after the Trustee may, or shall at the written request of the CompanyCompany requests repayment pursuant to this Section 3.03), at the expense of the Company, cause to be published once in an authorized a newspaper in the same city in which the place of payment with respect to the Securities shall be located and in an authorized newspaper general circulation in the City of New York, York or mail cause to be mailed to each such Holder, a notice (in stating that such form as may be deemed appropriate by the Trustee) that said monies remain money remains unclaimed and that, after a date named specified therein, which shall not be less than thirty (30) days from the date of such publication or mailing, any unclaimed balance of said monies such money then remaining will be returned repaid to the Company. After payment to the Company, Holders entitled to the money must look to the Company for payment as general creditors, subject to applicable law, and all liability of the Trustee and the Paying Agent with respect to such money and payment shall, subject to applicable law, cease.

Appears in 1 contract

Samples: Lecroy Corp

Return of Unclaimed Monies. Any monies deposited with or paid to the Trustee or any Paying Agent for the Securities, or then held by the Company in trust, for the payment of any principal, premium, if any, and interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years after the date upon which the principal of, premium, if any, and interest, if any, on the Securities, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by such Trustee or any Paying Agent on written demand by the Company or (if then held by the Company or any Affiliate) shall be discharged from such trust; and the Holders of the Securities entitled to receive such payment shall thereafter look only to the Company for the payment thereof; providedPROVIDED, howeverHOWEVER, that, before being required to make any such repayment, the Trustee may, or shall at the written request of the Company, at the expense of the Company, cause to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities shall be located and in an authorized newspaper in the City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the Trustee) that said monies remain unclaimed and that, after a date named therein, any unclaimed balance of said monies then remaining will be returned to the Company.

Appears in 1 contract

Samples: Sterling House Corp

Return of Unclaimed Monies. Any monies deposited with or paid to the Trustee or any Paying Agent for the SecuritiesSecurities of any series, or then held by the Company in trust, for the payment of any principal, premium, if any, and interest, if any, on the Securities of any series and not applied but remaining unclaimed by the Holders of the Securities of such series for two three years after the date upon which the principal of, premium, if any, of and interest, if any, on the SecuritiesSecurities of such series, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by such Trustee or any Paying Agent on written demand by the Company or (if then held by the Company or any AffiliateCompany) shall be discharged from such trust; and the Holders of the Securities of such series entitled to receive such payment shall thereafter look only to the Company for the payment thereof; provided, however, that, before being required to make any such repayment, the such Trustee may, or shall at the written request of the Company, at the expense of the Company, cause to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities of such series shall be located and in an authorized newspaper in the City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the such Trustee) that said monies remain unclaimed and that, after a date named therein, any unclaimed balance of said monies then remaining will be returned to the Company.

Appears in 1 contract

Samples: Indenture (Santa Anita Realty Enterprises Inc)

AutoNDA by SimpleDocs

Return of Unclaimed Monies. Any monies deposited with or paid to the Trustee or any Paying Agent for the Securities, or then held by the Company in trust, for the payment of any principal, premium, if any, and interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years after the date upon which the principal of, premium, if any, and interest, if any, on the Securities, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by such Trustee or any Paying Agent on written demand by the Company or (if then held by the Company or any Affiliate) shall be discharged from such trust; and the Holders of the Securities entitled to receive such payment shall thereafter look only to the Company for the payment thereof; provided, however, that, before being -------- ------- required to make any such repayment, the Trustee may, or shall at the written request of the Company, at the expense of the Company, cause to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities shall be located and in an authorized newspaper in the City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the Trustee) that said monies remain unclaimed and that, after a date named therein, any unclaimed balance of said monies then remaining will be returned to the Company.

Appears in 1 contract

Samples: Assisted Living Concepts Inc

Return of Unclaimed Monies. Any monies deposited with or paid to the Trustee or any Paying Agent for the Securities, or then held by the Company Issuer in -52- 61 trust, for the payment of any principal, premium, if any, the principal of and interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years after the date upon which the principal of, premium, if any, of and interest, if any, on the Securities, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company Issuer by such Trustee or any Paying Agent on written demand by the Company Issuer or (if then held by the Company Issuer or any Affiliate) shall be discharged from such trust; and the Holders of the Securities entitled to receive such payment shall thereafter look only to the Company Issuer for the payment thereof; provided, however, that, before being required to make any such repayment, the such Trustee may, or but shall not be obligated to unless at the written request of the Company, Issuer (at the expense of the CompanyIssuer), cause to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities shall be located and in an authorized newspaper in the The City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the such Trustee) that said monies remain unclaimed and that, after a date named therein, any unclaimed balance of said monies then remaining will be returned to the CompanyIssuer.

Appears in 1 contract

Samples: Lexington Corporate Properties Inc

Return of Unclaimed Monies. Any monies deposited with or paid to the Trustee or any Paying Agent for the Securities, or then held by the Company in trust, for the payment of any principal, premium, if any, and interest, if any, on the Securities and not applied but remaining unclaimed by the Holders of the Securities for two years after the date upon which the principal of, premium, if any, of and interest, if any, on the Securities, as the case may be, shall have become due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by such Trustee or any Paying Agent on written demand by the Company or (if then held by the Company or any AffiliateCompany) shall be discharged from such trust; and the Holders of the Securities entitled to receive such payment shall thereafter look only to the Company for the payment thereof; provided, however, that, before being required to make any such repayment, the such Trustee may, or shall at the written request of the Company, at the expense of the Company, cause to be published once in an authorized newspaper in the same city in which the place of payment with respect to the Securities shall be located and in an authorized financial newspaper of general circulation in the City of New York, or mail to each such Holder, a notice (in such form as may be deemed appropriate by the such Trustee) that said monies remain unclaimed and that, after a date named therein, any unclaimed balance of said monies then remaining will be returned to the Company.

Appears in 1 contract

Samples: Indenture (National Healthcare Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.