Common use of SECTION 613. Preferential Collection of Claims Against Company Clause in Contracts

SECTION 613. Preferential Collection of Claims Against Company. (a) Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities (as defined in Subsection (c) of this Section):

Appears in 2 contracts

Samples: Indenture (Hallwood Group Inc), Indenture (Hallwood Group Inc)

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SECTION 613. Preferential Collection of Claims Against Company. (a) Subject to Subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four months prior to a default, as defined in Subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the holders of other indenture securities (securities, as defined in Subsection (c) of this Section)::

Appears in 2 contracts

Samples: Indenture (Kimberly Clark Corp), Indenture (Mead Corp)

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SECTION 613. Preferential Collection of Claims Against Company. (a1) Subject to Subsection (b2) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company within four three months prior to a default, as defined in Subsection (c3) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities Notes and the holders of other indenture securities (securities, as defined in Subsection (c3) of this Section)::

Appears in 2 contracts

Samples: Article Eleven Mandatory (PDS Gaming Corp), Article Eleven Mandatory (PDS Financial Corp)

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