Common use of Unclaimed Funds Clause in Contracts

Unclaimed Funds. In the event that any amount due to any Noteholder remains unclaimed, the Issuer shall, at its expense, cause to be published once, in the eastern edition of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) and no additional interest shall accrue on the related Note subsequent to the date on which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other Noteholders of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall be paid to the Issuer by the Indenture Trustee on written demand; and thereupon each of the Indenture Trustee and the Issuer shall be released from all further liability with respect to such monies, and thereafter the Noteholders in respect of which such monies were so paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancer.

Appears in 6 contracts

Samples: Indenture (TAL International Group, Inc.), Indenture (TAL International Group, Inc.), Indenture (TAL International Group, Inc.)

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Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that any amount due are not paid to any Noteholder remains unclaimed, the Issuer shallNoteholders in trust for the Noteholders. Notwithstanding the foregoing, at its expensethe expiration of three years following the Final Payment Date for any Class of Notes of any Series any moneys set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by Applicable Law, any accrued interest thereon shall be remitted to the applicable Issuers, as their interest may appear, to be held in trust by such Issuers for the benefit of the applicable Noteholder until distributed in accordance with Applicable Law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at the expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by Applicable Law, and otherwise at the expense of the applicable Issuers payable out of the Collateral Pool, cause to be published once, at least once but not more than three times in two newspapers in the eastern edition English language customarily published on each Business Day and of The Wall Street Journalgeneral circulation in New York, New York, a notice to the effect that such money remains unclaimed. Any such moneys remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such moneys then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by applicable Issuers upon their written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with Applicable Law. Any successor to an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of an Issuer in a liquidation of such Issuer shall be released from all further liability with respect remain liable for the amount of any unclaimed balance paid to such monies, and thereafter the Noteholders in respect of which such monies were so paid Issuer pursuant to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 5 contracts

Samples: Master Indenture (FrontView REIT, Inc.), Master Indenture (American Finance Trust, Inc), Master Indenture (Essential Properties Realty Trust, Inc.)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that any amount due are not paid to any Noteholder remains unclaimed, the Issuer shallNoteholders in trust for the Noteholders. Notwithstanding the foregoing, at its expensethe expiration of three years following the Final Payment Date for any Class of Notes of any Series, any moneys set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by applicable law, any accrued interest thereon shall be remitted to the applicable Issuers, as their interest may appear, to be held in trust by such Issuers for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at the expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the applicable Issuers payable out of the Collateral Pool (in accordance with and subject to the priority set forth in Section 2.11), cause to be published once, at least once but not more than three times in two newspapers in the eastern edition English language customarily published on each Business Day and of The Wall Street Journalgeneral circulation in New York, New York, a notice to the effect that such money remains unclaimed. Any such moneys remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such moneys then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by applicable Issuers upon their written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of an Issuer in a liquidation of such Issuer shall be released from all further liability with respect remain liable for the amount of any unclaimed balance paid to such monies, and thereafter the Noteholders in respect of which such monies were so paid Issuer pursuant to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 4 contracts

Samples: Master Indenture, Master Indenture (Spirit MTA REIT), Master Indenture (Spirit Realty Capital, Inc.)

Unclaimed Funds. In At the event that any amount due to any Noteholder remains unclaimed, the Issuer shall, at its expense, cause to be published once, in the eastern edition expiration of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) and no additional interest shall accrue on the related Note subsequent to the date on which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years after following the date Maturity Date of the publication described Notes issued hereunder, any monies deposited in the second preceding sentence, (ii) the date all other Noteholders of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on Holdover Account for such Notes or then remaining on deposit and unclaimed by the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment lawful owner thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall be paid to the Issuer (or in accordance with any written directions previously given to the Trustee by the Indenture Trustee Issuer) and the Person entitled to receive such monies thereafter shall look only to the Issuer for payment thereof as an unsecured general creditor (without regard to any limitation on written demand; recourse contained herein or in the Notes or any other Security Document), and thereupon each all liability of the Indenture Trustee and the Issuer shall be released from all further liability with respect to such moniestrust money shall thereupon cease; PROVIDED that the Trustee, before being required to make any such repayment, may, at the expense of the Issuer, cause to be published at least once but not more than three times in any Authorized Newspaper (if the Notes were, as of the Trustee's receipt of such payment, listed on a securities exchange or an over-the-counter market) and in a newspaper in the English language customarily published on each Business Day and of general circulation, in New York, New York, a notice to the effect that said monies remain unclaimed and have not been applied for the purpose for which they were deposited, and thereafter that after a date specified therein, which shall be not less than thirty (30) days after the Noteholders date of first publication of said notice, any unclaimed balance of said monies then remaining in respect the hands of which such monies were so paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would Trustee will be paid to the Issuer had been previously deposited by upon its written directions. Any successor to the Series Enhancer Issuer through merger, consolidation or otherwise or any recipient of such Series with substantially all the Indenture Trustee assets of the Issuer in a liquidation of the Issuer shall remain liable for the payment amount of principal or interest on the Notes of such Series, any unclaimed balance paid to the extent any amounts are owing Issuer pursuant to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis paragraph.

Appears in 4 contracts

Samples: Indenture and Servicing Agreement (Gotham Golf Corp), Indenture and Servicing Agreement (Gotham Golf Corp), Indenture and Servicing Agreement (Gotham Golf Corp)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that any amount due are not paid to any Noteholder remains unclaimed, the Issuer shallNoteholders in trust for the Noteholders. Notwithstanding the foregoing, at its expensethe expiration of three years following the Final Payment Date for any Class of Notes of any Series and with the prior written consent of each Insurer, any moneys set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by applicable law, any accrued interest thereon shall be remitted to the applicable Issuers, as their interest may appear, to be held in trust by such Issuers for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at the expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the applicable Issuers payable out of the Collateral Pool, cause to be published once, at least once but not more than three times in two newspapers in the eastern edition English language customarily published on each Business Day and of The Wall Street Journalgeneral circulation in New York, New York, a notice to the effect that such money remains unclaimed. Any such moneys remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such moneys then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by applicable Issuers upon their written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of an Issuer in a liquidation of such Issuer shall be released from all further liability with respect remain liable for the amount of any unclaimed balance paid to such monies, and thereafter the Noteholders in respect of which such monies were so paid Issuer pursuant to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 2 contracts

Samples: Master Indenture (Spirit Finance Corp), Master Indenture (Spirit Finance Corp)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that any amount due are not paid to any Noteholder remains unclaimed, the Issuer shallNoteholders in trust for the Noteholders. Notwithstanding the foregoing, at its expensethe expiration of three years following the Final Payment Date for any Class of Notes of any Series any moneys set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by applicable law, any accrued interest thereon shall be remitted to the applicable Issuers, as their interest may appear, to be held in trust by such Issuers for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at the expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the applicable Issuers payable out of the Collateral Pool, cause to be published once, at least once but not more than three times in two newspapers in the eastern edition English language customarily published on each Business Day and of The Wall Street Journalgeneral circulation in New York, New York, a notice to the effect that such money remains unclaimed. Any such moneys remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such moneys then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by applicable Issuers upon their written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of an Issuer in a liquidation of such Issuer shall be released from all further liability with respect remain liable for the amount of any unclaimed balance paid to such monies, and thereafter the Noteholders in respect of which such monies were so paid Issuer pursuant to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 2 contracts

Samples: Master Indenture (STORE CAPITAL Corp), Master Indenture (STORE CAPITAL Corp)

Unclaimed Funds. In the event that any amount due to any Noteholder remains unclaimed, the Issuer shall, at its expense, cause to be published once, in the eastern edition of The Wall Street Journal, Journal notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) and no additional interest shall accrue on the related Note subsequent to the date on which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other registered Noteholders of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the registered Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall be paid to the Issuer by the Indenture Trustee on written demand; and thereupon each of the Indenture Trustee and the Issuer shall be released from all further liability with respect to such monies, and thereafter the registered Noteholders in respect of which such monies were so paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancer.

Appears in 2 contracts

Samples: Intercreditor Collateral Agreement (CAI International, Inc.), Intercreditor Collateral Agreement (CAI International, Inc.)

Unclaimed Funds. In the event that any amount due to any Noteholder remains unclaimed, the Issuer shall, at its expense, cause to be published once, in the eastern edition of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) and no additional interest shall accrue on the related Note subsequent to the date on which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other registered Noteholders of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the registered Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, Thereafter any such unclaimed amounts shall shall, subject to applicable escheat laws, be paid to the Issuer by the Indenture Trustee on written demand; and thereupon each of the Indenture Trustee and the Issuer shall be released from all further liability with respect to such monies, and thereafter the registered Noteholders in respect of which such monies were so paid to the Issuer shall have no rights in respect thereof, except to obtain payment of such monies from the Issuer; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the a Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such SeriesNotes, to the extent any amounts are owing to such the Series Enhancer, such amounts shall be paid promptly to such Series Enhancer.

Appears in 2 contracts

Samples: Director Services Agreement (SeaCube Container Leasing Ltd.), Indenture (Seacastle Inc.)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that are not paid to the Noteholders in trust for the Noteholders. Notwithstanding the foregoing, at the expiration of two years following the Final Payment Date for any amount due Class of Notes, any monies set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by applicable law, any Noteholder remains unclaimed, accrued interest thereon shall be remitted to the Issuer shallto be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at its expensethe expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the Issuer, cause to be published onceat least once but not more than three times in two newspapers in the English language customarily published on each Business Day and of general circulation, in New York, New York, a notice to the eastern edition of The Wall Street Journal, notice effect that such money remains unclaimed. Any such monies remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such monies then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by upon its written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to the Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of the Issuer in a liquidation of the Issuer shall be released from all further liability with respect to such monies, and thereafter remain liable for the Noteholders in respect amount of which such monies were so any unclaimed balance paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid pursuant to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 1 contract

Samples: Trustreet Properties Inc

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that are not paid to the Noteholders in trust for the Noteholders. Notwithstanding the foregoing, at the expiration of two years following the Final Payment Date for the Notes, if any amount due monies set aside in accordance with Section 2.09(b) for payment of principal, interest and other amounts on such Notes remain unclaimed by any lawful owner thereof, such unclaimed funds and, to the extent required by applicable law, any Noteholder remains unclaimed, accrued interest thereon shall be remitted to the Issuer shallto be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such repayment, may, at its expensethe expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the Issuer, cause to be published onceat least once but not more than three times in two newspapers in the English language customarily published on each Business Day and of general circulation, in New York, New York, a notice to the eastern edition of The Wall Street Journal, notice effect that such money remains unclaimed. Any such monies remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such monies then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by upon its written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to the Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of the Issuer in a liquidation of the Issuer shall be released from all further liability with respect to such monies, and thereafter remain liable for the Noteholders in respect amount of which such monies were so any unclaimed balance paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid pursuant to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 1 contract

Samples: Trust Agreement (Impac Mortgage Holdings Inc)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that any amount due are not paid to any Noteholder remains unclaimed, the Issuer shallNoteholders in trust for the Noteholders. Notwithstanding the foregoing, at its expensethe expiration of three years following the Final Payment Date for any Class of Notes of any Series any moneys set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by applicable law, any accrued interest thereon shall be remitted to the applicable Issuers, as their interest may appear, to be held in trust by such Issuers for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at the expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the applicable Issuers payable out of the Collateral Pool, cause to be published once, at least once but not more than three times in two newspapers in the eastern edition English language customarily published on each Business Day and of The Wall Street Journalgeneral circulation in New York, New York, a notice to the effect that such money remains unclaimed. Any such moneys remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of not less than thirty (i30) two (2) years days after the date of the first publication described of said notice, any unclaimed balance of such moneys then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by applicable Issuers upon their written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of an Issuer in a liquidation of such Issuer shall be released from all further liability with respect remain liable for the amount of any unclaimed balance paid to such monies, and thereafter the Noteholders in respect of which such monies were so paid Issuer pursuant to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 1 contract

Samples: Master Indenture (STORE CAPITAL Corp)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that are not paid to the Noteholders in trust for the Noteholders. Notwithstanding the foregoing, at the expiration of three years following the Final Payment Date for any amount due Class of Notes of any Series and with the prior written consent of each Insurer, any moneys set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by applicable law, any Noteholder remains unclaimed, accrued interest thereon shall be remitted to the Issuer shallor the applicable Co-Issuer, as their interest may appear, to be held in trust by the Issuer or any such Co-Issuer for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at its expensethe expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the Issuer or any such Co-Issuer payable out of the Collateral Pool, cause to be published once, at least once but not more than three times in two newspapers in the eastern edition English language customarily published on each Business Day and of The Wall Street Journalgeneral circulation in New York, New York, a notice to the effect that such money remains unclaimed. Any such moneys remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such moneys then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by upon its written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to the Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of the Issuer in a liquidation of the Issuer shall be released from all further liability with respect to such monies, and thereafter remain liable for the Noteholders in respect amount of which such monies were so any unclaimed balance paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid pursuant to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 1 contract

Samples: Master Indenture (Spirit Finance Corp)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Notes that are not paid to the Noteholders in trust for the Noteholders. Notwithstanding the foregoing, at the expiration of three years following the Final Payment Date for any amount due Class of Notes of any Series any moneys set aside in accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by Applicable Law, any Noteholder remains unclaimedaccrued interest thereon shall be remitted to the Issuer, as their interest may appear, to be held in trust by the Issuer shallfor the benefit of the applicable Noteholder until distributed in accordance with Applicable Law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such remittance, may, at its expensethe expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by Applicable Law, and otherwise at the expense of the Issuer payable out of the Issuer Collateral Pool, cause to be published once, at least once but not more than three times in two newspapers in the eastern edition English language customarily published on each Business Day and of The Wall Street Journalgeneral circulation in New York, New York, a notice to the effect that such money remains unclaimed. Any such moneys remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such moneys then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by upon their written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with Applicable Law. Any successor to an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of an Issuer in a liquidation of the Issuer shall be released from all further liability with respect to such monies, and thereafter remain liable for the Noteholders in respect amount of which such monies were so any unclaimed balance paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid pursuant to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 1 contract

Samples: Master Indenture (Cim Real Estate Finance Trust, Inc.)

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Unclaimed Funds. In the event that any amount due to any ICF Noteholder remains unclaimed, the Issuer ICF shall, at its own expense, cause to be published once, in the eastern edition of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the ICF Indenture Trustee in the Eligible Investments described in clause (notwithstanding vii) of the provisions of Section 303 hereof) and definition thereof, but no additional interest shall accrue on the related ICF Note subsequent to the date on which such funds were first available for distribution to such ICF Noteholder. Any such unclaimed amounts shall be held by the ICF Indenture Trustee in trust until the latest of (i) two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other registered ICF Noteholders of such Series shall have received full payment of all principal, interest, principal of and premium, if any, and interest and other sums payable to them on such ICF Notes or the ICF Indenture Trustee shall hold (and shall have notified the registered ICF Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer ICF shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of ICF Notes. Thereafter, Thereafter any such unclaimed amounts shall be paid to the Issuer ICF by the ICF Indenture Trustee on written demand; and thereupon each of the ICF Indenture Trustee and the Issuer shall be released from all further liability with respect to such monies, and thereafter the registered ICF Noteholders in respect of which such monies were so paid to the Issuer ICF shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid except to the Issuer had been previously deposited by the Series Enhancer obtain payment of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancermonies from ICF.

Appears in 1 contract

Samples: Icf Indenture (Seacastle Inc.)

Unclaimed Funds. In the event that Notwithstanding any amount due to any Noteholder remains unclaimed, the Issuer shall, at its expense, cause to be published once, in the eastern edition of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) this Indenture, and no additional interest shall accrue on the related Note subsequent subject to the date on which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be applicable provisions of State law, any moneys held by the Indenture Trustee in trust until for the latest payment of the principal of, premium, if any, or interest on, any Bonds and remaining unclaimed for two (i2) years after the principal of all of the Bonds has become due and payable (whether at maturity or upon call for redemption as provided in this Indenture), if such moneys were so held at such date, or two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other Noteholders deposit of such Series moneys if deposited after said date when all of the Bonds became due and payable, shall have received full payment of all principal, interest, premium, if anybe repaid to the City free from the trusts created by this Indenture, and other sums payable to them on such Notes or all liability of the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series moneys shall thereupon cease; provided, however, that before the repayment of Notessuch moneys to the City as aforesaid, the Trustee shall (at the written request and cost of the City) first mail to the Owners of Bonds which have not yet been paid, at the addresses shown on the Registration Books, a notice, in such form as may be deemed appropriate by the Trustee with respect to the Bonds so payable and not presented and with respect to the provisions relating to the repayment to the City of the moneys held for the payment thereof. Thereafter, any the Owner of such unclaimed amounts Bond shall be paid look only to the Issuer by City for payment and then only to the Indenture Trustee on written demand; and thereupon each extent of the Indenture Trustee amount so returned to the City without any interest thereon, and the Issuer Trustee shall be released from all further liability have no responsibility with respect to such moniesmoney. During any period in which the Trustee holds such unclaimed money, and thereafter the Noteholders in respect of which Trustee shall not be required to invest such monies were so paid to money; nonetheless if the Issuer shall have no rights in respect thereof; provided, that if Trustee should invest such money or any portion thereof that would be paid to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest earnings on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly remitted to the City as such Series Enhancerearnings are realized.

Appears in 1 contract

Samples: Master Indenture

Unclaimed Funds. In the event that any amount due to any Noteholder remains unclaimed, the Issuer shall, at its expense, cause to be published once, in the eastern edition of The Wall Street JournalTHE WALL STREET JOURNAL, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) and no additional interest shall accrue on the related Note subsequent to the date on which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other registered Noteholders of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the registered Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, Thereafter any such unclaimed amounts shall be paid to the Issuer by the Indenture Trustee on written demand; and thereupon each of the Indenture Trustee and the Issuer shall be released from all further liability with respect to such monies, and thereafter the registered Noteholders in respect of which such monies were so paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid except to the Issuer had been previously deposited by the Series Enhancer obtain payment of such Series with monies from the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series EnhancerIssuer.

Appears in 1 contract

Samples: Willis Lease Finance Corp

Unclaimed Funds. In the event that any amount due to any ICI Noteholder remains unclaimed, the Issuer ICI shall, at its own expense, cause to be published once, in the eastern edition of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the ICI Indenture Trustee in the Eligible Investments described in clause (notwithstanding vii) of the provisions of Section 303 hereof) and definition thereof, but no additional interest shall accrue on the related ICI Note subsequent to the date on which such funds were first available for distribution to such ICI Noteholder. Any such unclaimed amounts shall be held by the ICI Indenture Trustee in trust until the latest of (i) two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other registered ICI Noteholders of such Series shall have received full payment of all principal, interest, principal of and premium, if any, and interest and other sums payable to them on such ICI Notes or the ICI Indenture Trustee shall hold (and shall have notified the registered ICI Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer ICI shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of ICI Notes. Thereafter, Thereafter any such unclaimed amounts shall be paid to the Issuer ICI by the ICI Indenture Trustee on written demand; and thereupon each of the ICI Indenture Trustee and the Issuer shall be released from all further liability with respect to such monies, and thereafter the registered ICI Noteholders in respect of which such monies were so paid to the Issuer ICI shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid except to the Issuer had been previously deposited by the Series Enhancer obtain payment of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancermonies from ICI.

Appears in 1 contract

Samples: Ici Indenture (Seacastle Inc.)

Unclaimed Funds. In Subject to the event that any amount due to any Noteholder remains unclaimedterms of this Indenture and the other Transaction Documents, the Issuer shallIndenture Trustee is required to hold any payments received by it with respect to the Notes that are not paid to the Noteholders in trust for the Noteholders. Notwithstanding the foregoing, at its expensethe expiration of two years following the Final Payment Date for the Notes, any monies set aside in accordance with Section 2.12(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any lawful owner thereof, and, to the extent required by applicable law, any accrued interest thereon shall be remitted to the Issuer to be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided that the Indenture Trustee, before being required to make any such remittance, may, at the expense of the applicable Noteholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the Issuer, cause to be published onceat least once but not more than three times in two newspapers in the English language customarily published on each Business Day and of general circulation, in New York, New York, a notice to the eastern edition of The Wall Street Journal, notice effect that such money remains unclaimed. Any such monies remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of not less than thirty (i30) two (2) years days after the date of the first publication described of said notice, any unclaimed balance of such monies then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by upon its written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Noteholder until distributed in accordance with applicable law. Any successor to the Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of the Issuer in a liquidation of the Issuer shall be released from all further liability with respect to such monies, and thereafter remain liable for the Noteholders in respect amount of which such monies were so any unclaimed balance paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid pursuant to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 1 contract

Samples: Indenture (Capital Automotive Reit)

Unclaimed Funds. In The Indenture Trustee is required to hold any payments received by it with respect to the event Bonds that are not paid to the Bondholders in trust for the Bondholders. Notwithstanding the foregoing, at the expiration of two years following the Final Payment Date for the Bonds of any amount due Class thereof, any monies set aside in accordance with Section 2.10(b) for payment of principal, interest and other amounts on such Bonds remain unclaimed by any lawful owner thereof, such unclaimed funds and, to the extent required by applicable law, any Noteholder remains unclaimed, accrued interest thereon shall be remitted to the Issuer shallto be held in trust by the Issuer for the benefit of the applicable Bondholder until distributed in accordance with applicable law, and all liability of the Indenture Trustee with respect to such money shall thereupon cease; provided, that the Indenture Trustee, before being required to make any such repayment, may, at its expensethe expense of the applicable Bondholder, payable out of such unclaimed funds, to the extent permitted by applicable law, and otherwise at the expense of the Issuer, cause to be published onceat least once but not more than three times in two newspapers in the English language customarily published on each Business Day and of general circulation, in New York, New York, a notice to the eastern edition of The Wall Street Journal, notice effect that such money remains unclaimed. Any such monies remain unclaimed amounts shall and have not be invested by been applied for the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) purpose for which they were deposited, and no additional interest shall accrue on the related Note subsequent to the that after a date on specified therein, which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years not less than 30 days after the date of the first publication described of said notice, any unclaimed balance of such monies then remaining in the second preceding sentence, (ii) the date all other Noteholders hands of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, any such unclaimed amounts shall will be paid to the Issuer by upon its written directions to be held in trust for the Indenture Trustee on written demand; and thereupon each benefit of the Indenture Trustee and applicable Bondholder until distributed in accordance with applicable law. Any successor to the Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of the Issuer in a liquidation of the Issuer shall be released from all further liability with respect to such monies, and thereafter remain liable for the Noteholders in respect amount of which such monies were so any unclaimed balance paid to the Issuer shall have no rights in respect thereof; provided, that if such money or any portion thereof that would be paid pursuant to the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhancerthis Section 5.10.

Appears in 1 contract

Samples: Indenture (Imh Assets Corp Impac CMB Trust 1998 C1 Col Mor Bond 1998 C1)

Unclaimed Funds. In the event that any amount due to any Noteholder remains unclaimed, the Issuer shall, at its expense, cause to be published once, in the eastern edition of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Indenture Trustee (notwithstanding the provisions of Section 303 hereof) and no additional interest shall accrue on the related Note subsequent to the date on which such funds were first available for distribution to such Noteholder. Any such unclaimed amounts shall be held by the Indenture Trustee in trust until the latest of (i) two (2) years after the date of the publication described in the second preceding sentence, (ii) the date all other registered Noteholders of such Series shall have received full payment of all principal, interest, premium, if any, and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified the registered Noteholders that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Issuer shall have fully performed and observed all its covenants and obligations contained in this Indenture and the related Supplement with respect to such Series of Notes. Thereafter, Thereafter any such unclaimed amounts shall shall, subject to applicable escheat laws, be paid to the Issuer by the Indenture Trustee on written demand; and thereupon each of the Indenture Trustee and the Issuer shall be released from all further liability with respect to such monies, and thereafter the registered Noteholders in respect of which such monies were so paid to the Issuer shall have no rights in respect thereof; provided, that if except to obtain payment of such money or any portion thereof that would be paid to monies from the Issuer had been previously deposited by the Series Enhancer of such Series with the Indenture Trustee for the payment of principal or interest on the Notes of such Series, to the extent any amounts are owing to such Series Enhancer, such amounts shall be paid promptly to such Series Enhanceras an unsecured creditor thereof.

Appears in 1 contract

Samples: Qualified Institutional Buyers (SeaCube Container Leasing Ltd.)

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