Trust Monies. All Trust Monies shall be held by or delivered to the Trustee, for the benefit of the Equal Lien Creditors in accordance with the provisions of the applicable Security Documents. Applicable Trust Monies, if any, shall, at the direction of the Company, be (a) applied by the Trustee from time to time to the payment of the principal of, premium, if any, and interest on any Notes at maturity or upon redemption or retirement, or to the purchase of notes upon tender or in the open market or otherwise, (b) released to the extent such cash would be considered Collateral under the Security Documents following such release or (c) applied to cure any payment Event of Default in each case in accordance with the Security Documents.
Trust Monies. Seller shall have all monies collected from employees and customers of Seller and owed to third parties, including, but not limited to, all taxes and insurance premiums, placed in a separate bank account such that these funds will be segregated from all other amounts collected by Seller from operations of the Business, and such funds shall be used only for payment to third parties as due. Buyer must approve, in its sole discretion, the segregation of such funds. Sellers shall also deposit the amounts described in Section 6.1(b) into such a segregated account as well.
Trust Monies. All recovered money collected by PIRANHA COLLECT shall be cleared through the bank account “PCS Trust Account” and any commissions, fees, charges, sundry expenses or disbursements may be deducted immediately from the money held in trust.
Trust Monies. No escrow account or impound account shall be established to hold proceeds from the sale of the Notes. To the extent Collateral Agent holds funds for the benefit of the Holders, all monies shall be held for the ratable benefit of the Holders of the Notes. If the Collateral Agent holds any funds for the benefit of the Holders of the Notes, monies may be invested in any cash equivalent investments including money market funds, U.S. Treasury Bills and securities and other liquid investments. Any funds held may also be invested in interest bearing time or demand deposit banks (provided that any such deposits are fully insured by the Federal Deposit Insurance Corporation), bonds issued by the U.S. Government or government sponsored enterprises and mutual funds. The Collateral Agent shall be under no liability for interest on any money received by it hereunder except as otherwise expressly provided this Agreement.
Trust Monies. 105 SECTION 13.2.
Trust Monies. All Trust Monies shall be held by or delivered to the Trustee, for its benefit and the benefit of the Holders as a part of the Collateral in accordance with the provisions of this Indenture and the applicable Security Documents and, upon any entry upon or sale or other disposition of the Collateral or any part thereof by the Trustee after an Event of Default pursuant to any of the Security Documents, said Trust Monies shall be applied in accordance with Section 6.10; but, prior to any such entry, sale or other disposition, all or any part of the Trust Monies may be withdrawn, and shall be released, paid or applied by the Trustee, from time to time as provided in Sections 12.02 through 12.08
Trust Monies. Subject to the provisions of the Intercreditor Agreement and the other Security Documents:
(A) to the extent that any Trust Monies consist of Net Loss Proceeds, such Trust Monies may be withdrawn by the Company and shall be paid by the Trustee to the Company or the applicable Guarantor, or the Trustee shall instruct the Collateral Agent to so pay, as applicable, upon the Company's written request delivered to the Trustee for expenditures made or to be made, or costs incurred or to be incurred, by the Company or the applicable Guarantor in accordance with the provisions of the first paragraph of Section 4.20 upon receipt by the Trustee of the following:
(a) an Officers' Certificate, dated not more than 30 days prior to the date of the application for the withdrawal and payment of such Trust Monies, setting forth that:
(i) such funds are being applied in accordance with the provisions of the first paragraph of Section 4.20 for the purposes identified and briefly described in such Officers' Certificate;
(ii) no part of such expenditures or costs has been paid out of the proceeds of insurance upon any part of the Collateral not required to be paid to the Trustee under the Security Documents;
(iii) the Company or the applicable Guarantor has or substantially concurrent therewith will have title to such repairs, rebuildings, replacements that is substantially similar to its title to the property destroyed, damaged or taken and that any Liens upon such repairs, rebuildings and replacements are expressly permitted by this Indenture and the applicable Security Documents;
(iv) no Default or Event of Default shall have occurred and be continuing after giving effect to such application; and
(v) all conditions precedent herein provided for relating to such withdrawal and payment have been complied with;
(b) all documentation required under the TIA (including, without limitation, TIA § 314(d));
(c) all instruments sufficient, necessary or as reasonably requested by the Trustee, for the Lien of any applicable Security Document to cover such repairs, rebuildings or replacements; and
(d) evidence of payment or a closing statement indicating payments to be made by the Company of all filing fees, recording charges and/or transfer taxes, if any, and other costs and expenses, including reasonable legal fees and disbursements of counsel for the Trustee (and any local counsel), that may be incurred to validly and effectively subject such repairs, rebuildings or replacements to t...
Trust Monies. Refer to Part 3.1 generally (re. the handling of trust, controlled and transit money). For clause 13(i), refer to S 247(1) (b). For clause 13(ii), refer to S 254 and Regulation 68 (3).
Trust Monies. All Trust Monies shall be held by or delivered to the Trustee, for its benefit and the benefit of the Holders of Notes as a part of the Collateral in accordance with Section 12.12 and the applicable Security Documents, and said Trust Monies shall be applied in accordance with Section 6.10. In the event that there is no Person having a prior Lien on the Collateral there shall be established and, at all times thereafter until this Indenture shall have terminated, there shall be maintained with the Trustee an account which shall be entitled the "Collateral Account" (the "Collateral Account"). The Collateral Account shall be established and maintained by the Trustee at its corporate trust office located in New York. All Trust Monies that are received by the Trustee shall be held, applied and/or disbursed by the Trustee in accordance with the provisions of this Article 13.
Trust Monies. All monies received as proceeds from the sale of the Securities and interest accrued thereon from payments made by the Corporation to Paying Agent into the Certificate Payment Fund or otherwise ("Trust Monies") shall be deemed part of the Trust Estate. All Trust Monies shall be held for the ratable benefit of the Owners of the Certificates. Trust Monies may be invested in any form of account or deposit insured by depositor insurance or in interest-bearing obligations issued by the United States government or any political subdivision thereof or money market mutual funds consisting solely of such investments. Paying Agent and/or Trustee may commingle such Trust Monies with similar funds of other issues, but shall maintain detailed records to reflect the share thereof attributable to each issuer. Periodic statements shall be provided to the Corporation reflecting all receipts and disbursements of Trust Monies. The Trust Monies shall not be assignable by the Corporation nor subject to the process of any court upon legal action by or against the Corporation or by anyone claiming under or through it. Paying Agent shall hold in trust for the benefit of Security Owners or the Trustee all money held by the Paying Agent for the payment of principal or interest on the Securities, and shall notify the Trustee of any default by the Corporation in making any such payment.
