Common use of Trust Operation Clause in Contracts

Trust Operation. Each Company will hold on trust for, and forthwith pay or transfer to, the Security Trustee any payment or benefit of security received by it contrary to the above. If a Company exercises any right of set-off contrary to the above, it will forthwith pay an amount equal to the amount set-off to the Security Trustee.

Appears in 4 contracts

Samples: Apw LTD, Apw LTD, Apw LTD

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