Common use of To Hold Payment in Trust Clause in Contracts

To Hold Payment in Trust. (a) If the Issuer or an Affiliate thereof shall at any time act as Paying Agent with respect to any series of Securities, then, on or before the date on which the principal of, premium, if any, or interest on any of the Securities of that series by their terms or as a result of the calling thereof for redemption shall become payable, the Issuer or such Affiliate shall segregate and hold in trust for the benefit of the Holders of such Securities or the Trustee a sum sufficient to pay such principal, premium, if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of as herein provided, and shall notify the Trustee of its action or failure to act in that regard. Upon any proceeding under the Bankruptcy Code or any applicable state bankruptcy laws with respect to the Issuer or any Affiliate thereof, if the Issuer or such Affiliate is then acting as Paying Agent, the Trustee shall promptly replace the Issuer or such Affiliate as Paying Agent.

To Hold Payment in Trust. (a) If the Issuer or an Affiliate thereof (including the Parent Guarantor) shall at any time act as Paying Agent with respect to any series of Securities, then, on or before the date on which the principal of, of and premium, if any, or interest on any of the Securities of that series by their terms or as a result of the calling thereof for redemption shall become payable, the Issuer or such Affiliate shall will segregate and hold in trust for the benefit of the Holders of such Securities or the Trustee a sum sufficient to pay such principal, principal and premium, if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of as herein provided, and shall will notify the Trustee of its action or failure to act in that regard. Upon any proceeding under the Bankruptcy Code or any applicable state federal bankruptcy laws with respect to the Issuer or any Affiliate thereof, if the Issuer or such Affiliate is then acting as Paying Agent, the Trustee shall promptly replace the Issuer or such Affiliate as Paying Agent.

To Hold Payment in Trust. (a) If the Issuer Companies or an Affiliate thereof any of their respective Affiliates shall at any time act as Paying Agent with respect to any series of Securities, then, on or before the date on which the principal of, of and premium, if any, or interest on any of the Securities of that series by their terms or as a result of the calling thereof for redemption shall become payable, the Issuer Companies or such Affiliate shall will segregate and hold in trust for the benefit of the Holders of such Securities or the Trustee a sum sufficient to pay such principal, principal and premium, if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of as herein provided, and shall will notify the Trustee of its action or failure to act in that regard. Upon any proceeding under the Bankruptcy Code or any applicable state federal bankruptcy laws with respect to the Issuer Companies or any Affiliate thereofof their respective Affiliates, if the Issuer Companies or such Affiliate is are then acting as Paying Agent, the Trustee shall promptly replace the Issuer Companies or such Affiliate as Paying Agent.

To Hold Payment in Trust. (a) If the Issuer Company or an Affiliate thereof shall at any time act as Paying Agent with respect to any series of Securities, then, on or before the date on which the principal of, of and premium, if any, or interest on any of the Securities of that series by their terms or as a result of the calling thereof for redemption shall become payable, the Issuer Company or such Affiliate shall will segregate and hold in trust for the benefit of the Holders of such Securities or the Trustee a sum sufficient to pay such principal, principal and premium, if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of as herein provided, and shall will notify the Trustee of its action or failure to act in that regard. Upon any proceeding under the Bankruptcy Code or any applicable state bankruptcy laws with respect to the Issuer Company or any Affiliate thereof, if the Issuer Company or such Affiliate is then acting as Paying Agent, the Trustee shall promptly replace the Issuer Company or such Affiliate as Paying Agent.

To Hold Payment in Trust. (a) If the Issuer Companies or an Affiliate thereof any of their respective Affiliates shall at any time act as Paying Agent with respect to any series of Securities, then, on or before the date on which the principal of, of and premium, if any, or interest on any of the Securities of that series by their terms or as a result of the calling thereof for redemption shall become payable, the Issuer Companies or such Affiliate shall Affiliates will segregate and hold in trust for the benefit of the Holders of such Securities or the Trustee a sum sufficient to pay such principal, principal and premium, if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of as herein provided, and shall will notify the Trustee of its action or failure to act in that regard. Upon any proceeding under the Bankruptcy Code or any applicable state federal bankruptcy laws with respect to the Issuer Companies or any Affiliate thereofof their respective Affiliates, if the Issuer Companies or such Affiliate is Affiliates are then acting as Paying Agent, the Trustee shall promptly replace the Issuer Companies or such Affiliate Affiliates as Paying Agent.

To Hold Payment in Trust. (a) If either or both of the Issuer Issuers or an Affiliate thereof shall at any time act as Paying Agent with respect to any series of Securities, then, on or before the date on which the principal of, of and premium, if any, or interest on any of the Securities of that series by their terms or as a result of the calling thereof for redemption shall become payable, the such Issuer or Issuers or such Affiliate shall will segregate and hold in trust for the benefit of the Holders of such Securities or the Trustee a sum sufficient to pay such principal, principal and premium, if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of as herein provided, and shall will notify the Trustee of its action or failure to act in that regard. Upon any proceeding under the Bankruptcy Code or any applicable state federal bankruptcy laws with respect to either or both of the Issuer Issuers or any Affiliate thereof, if either of both of the Issuer Issuers or such Affiliate is then acting as Paying Agent, the Trustee shall promptly replace the Issuer such Issuer, Issuers or such Affiliate as Paying Agent.