Common use of Unclaimed Funds Clause in Contracts

Unclaimed Funds. At the expiration of two (2) years following the Maturity Date of the Notes issued hereunder, any monies deposited in the Holdover Account for such Notes then remaining on deposit and unclaimed by the lawful owner thereof shall be paid to the Issuer (or in accordance with any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document), and all liability of the Trustee with respect to such trust 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 that after a date specified therein, which shall be not less than thirty (30) days after the date of first publication of said notice, any unclaimed balance of said monies then remaining in the hands of the Trustee will be paid to the Issuer upon its written directions. 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this 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)

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Unclaimed Funds. At The Indenture 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 the expiration of two (2) three years following the Maturity Final Payment Date for any Class of the Notes issued hereunderof any Series, any monies deposited in the Holdover Account for such Notes then remaining on deposit and unclaimed by the lawful owner thereof shall be paid to the Issuer (or 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 written directions previously given lawful owner thereof, and, to the Trustee extent required by the Issuer) and the Person entitled to receive such monies thereafter applicable law, any accrued interest thereon shall look only be remitted to the Issuer applicable Issuers, as their interest may appear, to be held in trust by such Issuers for payment thereof as an unsecured general creditor (without regard to any limitation on recourse contained herein or the benefit of the applicable Noteholder until distributed in the Notes or any other Security Document)accordance with applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repaymentremittance, may, at the expense of the Issuerapplicable 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 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 two newspapers in the English language customarily published on each Business Day and of general circulation, circulation in New York, New York, a notice to the effect that said monies such moneys remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said monies such moneys then remaining in the hands of the Indenture Trustee will be paid to the Issuer applicable Issuers upon its their written directionsdirections to be held in trust for the benefit of the applicable Noteholder until distributed in accordance with applicable law. Any successor to the an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of the an Issuer in a liquidation of the such Issuer shall remain liable for the amount of any unclaimed balance paid to the such Issuer pursuant to this paragraphSection 5.10.

Appears in 4 contracts

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

Unclaimed Funds. At The Indenture 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 the expiration of two (2) three years following the Maturity Final Payment Date for any Class of the Notes issued hereunder, of any monies deposited in the Holdover Account for such Notes then remaining on deposit and unclaimed by the lawful owner thereof shall be paid to the Issuer (or 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 written directions previously given lawful owner thereof, and, to the Trustee extent required by the Issuer) and the Person entitled to receive such monies thereafter applicable law, any accrued interest thereon shall look only be remitted to the Issuer applicable Issuers, as their interest may appear, to be held in trust by such Issuers for payment thereof as an unsecured general creditor (without regard to any limitation on recourse contained herein or the benefit of the applicable Noteholder until distributed in the Notes or any other Security Document)accordance with applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repaymentremittance, may, at the expense of the Issuerapplicable 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 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 two newspapers in the English language customarily published on each Business Day and of general circulation, circulation in New York, New York, a notice to the effect that said monies such moneys remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said monies such moneys then remaining in the hands of the Indenture Trustee will be paid to the Issuer applicable Issuers upon its their written directionsdirections to be held in trust for the benefit of the applicable Noteholder until distributed in accordance with applicable law. Any successor to the an Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets of the an Issuer in a liquidation of the such Issuer shall remain liable for the amount of any unclaimed balance paid to the such Issuer pursuant to this paragraphSection 5.10.

Appears in 2 contracts

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

Unclaimed Funds. At Any money deposited with the expiration of two (2) years following Trustee or any Paying Agent, or then held by the Maturity Date Issuer, in trust for the payment of the Notes issued hereunder, principal of or interest on any monies deposited in the Holdover Account Note and remaining unclaimed for three years after such Notes then remaining on deposit principal or interest has become due and unclaimed by the lawful owner thereof payable shall be paid to the Issuer on Issuer Request, or (or in accordance with any written directions previously given to the Trustee if then held by the Issuer) shall be discharged from such trust; and the Person entitled to receive Holder of such monies thereafter Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof as an unsecured general creditor thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money (without regard but only to any limitation on recourse contained herein or in the Notes or any other Security Documentextent of the amounts so paid to the Issuer), and all liability of the Trustee with respect to such trust money Issuer as trustee thereof, shall thereupon cease; PROVIDED provided, however, that the TrusteeTrustee or such Paying Agent, before being required to make any such repaymentrelease or payment, may, may at the expense of the Issuer, Issuer cause to be published at least once but not more than three times in any Authorized Newspaper (if the Notes wereonce, as of the Trustee's receipt of such payment, listed on a securities exchange or an over-the-counter market) and in a newspaper published in the English language language, customarily published on each Business Day and of general circulation, circulation in New York, New YorkYork and in the city in which the Corporate Trust Office is located, a notice to the effect that said monies remain such money remains unclaimed and have not been applied for the purpose for which they were depositedthat, and that after a date specified therein, 3/64971.8 which shall be not less than thirty (30) 30 days after from the date of first publication of said noticesuch publication, any unclaimed balance of said monies such money then remaining in will be repaid to the hands Issuer. The Trustee may also adopt and employ, at the expense of the Trustee will be paid Issuer, any other reasonable means of notification of such release of payment (including, but not limited to, mailing notice of such release to Holders whose Notes have been called but have not been surrendered for redemption or whose right to or interest in monies due and payable but not claimed is determinable from the Issuer upon its written directions. 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 remain liable for the amount records of any unclaimed balance paid to Paying Agent, at the Issuer pursuant to this paragraphlast address of record of each such Holder).

Appears in 1 contract

Samples: Master Indenture (Dyncorp)

Unclaimed Funds. At the expiration of two (2) years following the date of Maturity Date of the Notes issued hereunder, any monies deposited in the Holdover Account for such Notes then remaining on deposit and unclaimed by the lawful owner thereof shall be paid to the Issuer (or in accordance with any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document), and all liability of the Trustee with respect to such trust money shall thereupon cease; PROVIDED 101 110 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 marketexchange) and in a newspaper two newspapers in the English language customarily published on each Business Day and of general circulation, one in New York, New YorkYork and the other in London, England, a notice to the effect that said monies remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) days after the date of first publication of said notice, any unclaimed balance of said monies then remaining in the hands of the Trustee will be paid to the Issuer upon its written directions. 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraph.

Appears in 1 contract

Samples: Indenture and Servicing Agreement (Vornado Realty Trust)

Unclaimed Funds. At Notwithstanding any provisions of this Indenture, and subject to applicable provisions of State law, any moneys held by the expiration Trustee in trust for the payment of the principal of, premium, if any, or interest on, any Bonds and remaining unclaimed for two (2) years following after the Maturity Date principal of all of the Notes issued hereunderBonds has become due and payable (whether at maturity or upon call for redemption as provided in this Indenture), any monies if such moneys were so held at such date, or two (2) years after the date of deposit of such moneys if deposited in after said date when all of the Holdover Account for such Notes then remaining on deposit Bonds became due and unclaimed by the lawful owner thereof payable, shall be paid repaid to the Issuer (or in accordance with any written directions previously given to City free from the Trustee trusts created by the 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 recourse contained herein or in the Notes or any other Security Document)this Indenture, and all liability of the Trustee with respect to such trust money moneys shall thereupon cease; PROVIDED provided, however, that before the Trusteerepayment of such moneys to the City as aforesaid, before being required the Trustee shall (at the written request and cost of the City) first mail to make any such repayment, maythe Owners of Bonds which have not yet been paid, at the expense 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 Issuermoneys held for the payment thereof. Thereafter, cause the Owner of such Bond shall look only to the City for payment and then only to the extent of the amount so returned to the City without any interest thereon, and the Trustee shall have no responsibility with respect to such money. During any period in which the Trustee holds such unclaimed money, the Trustee shall not be published at least once but not more than three times in any Authorized Newspaper (required to invest such money; nonetheless if the Notes were, as of the Trustee's receipt of Trustee should invest such payment, listed money any earnings 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 such amounts shall be remitted to the effect that said monies remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) days after the date of first publication of said notice, any unclaimed balance of said monies then remaining in the hands of the Trustee will be paid to the Issuer upon its written directions. 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphCity as such earnings are realized.

Appears in 1 contract

Samples: Master Indenture

Unclaimed Funds. At Subject to applicable laws with respect to abandoned property, any funds held by the expiration Trustee (as Trustee or as Paying Agent) for the payment of two principal (2or the Make Whole Amount, as applicable) or purchase price on any Note that remains unclaimed for five (5) years following and for the Maturity Date payment of interest (including interest which is a part of the Notes issued hereunderpurchase price) and Additional Amounts on any Note that remain unclaimed for ten (10) years, any monies deposited in the Holdover Account for each case, after such Notes then remaining on deposit amount shall have become due and unclaimed by the lawful owner thereof payable, shall be paid to the Issuer (or in accordance with any written directions previously given Insurer to the Trustee extent of any unreimbursed or outstanding amounts paid by the Issuer) Insurer pursuant to the terms of the Policy and thereafter repaid to the Person which originally paid such funds to the Trustee, and the Person entitled to receive Holder of such monies Note shall thereafter shall look only to the Issuer for payment thereof look, as an unsecured general creditor creditor, only to the Issuer, Insurer or Purchaser (without regard whichever was liable to any limitation on recourse contained herein or in make the Notes or any other Security Document)payment being sought) for payment thereof, and all liability of the Trustee with respect to such trust money funds shall thereupon cease; PROVIDED that the Trustee, before being required to make any such repayment, may. The Trustee shall also adopt and employ, at the expense and direction of the Issuer, cause to be published at least once any other reasonable means of notification of such repayment (including, but not more than three times limited to, mailing notice of such repayment to the Holders whose Notes have been called but have not been surrendered for redemption or purchase or whose right to or interest in any Authorized Newspaper (if monies due and payable but not claimed is determinable from the Notes were, as records of the Trustee's receipt , at the last address of record for each 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 that after a date specified therein, which shall be not less than thirty (30) days after the date of first publication of said notice, any unclaimed balance of said monies then remaining in the hands of the Trustee will be paid to the Issuer upon its written directions. 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphHolder).

Appears in 1 contract

Samples: Indenture Agreement (CNL Hospitality Properties Inc)

Unclaimed Funds. At The Indenture 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 the expiration of two (2) years following the Maturity Final Payment Date of for the Notes issued hereunderNotes, any monies deposited set aside in the Holdover Account accordance with Section 2.10(b) for payment of principal, interest and other amounts on such Notes then remaining on deposit and remain unclaimed by the any lawful owner thereof thereof, such unclaimed funds and, to the extent required by applicable law, any accrued interest thereon shall be paid remitted to the Issuer (or to be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document)applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repayment, 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 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 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 effect that said such monies remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said such monies then remaining in the hands of the Indenture Trustee will be paid to the Issuer upon its written directionsdirections to be held in trust for the benefit of the 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphSection 5.10.

Appears in 1 contract

Samples: Indenture (Oakwood Homes Corp)

Unclaimed Funds. At The Indenture 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, and subject to applicable abandoned property law, at the expiration of two (2) years following the Maturity Final Payment Date of for the Notes issued hereunderNotes, any monies deposited set aside in the Holdover Account accordance with Section 2.10(b) for payment of principal, interest and other amounts on such Notes then remaining on deposit and remain unclaimed by the any lawful owner thereof thereof, such unclaimed funds and, to the extent required by applicable law, any accrued interest thereon shall be paid remitted to the Issuer (or to be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document)applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repayment, 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 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 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 effect that said such monies remain unclaimed and have not -50- been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said such monies then remaining in the hands of the Indenture Trustee will be paid to the Issuer upon its their written directionsdirections to be held in trust for the benefit of the 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphSection 6.10.

Appears in 1 contract

Samples: Indenture (U S Restaurant Properties Inc)

Unclaimed Funds. At The Indenture 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 the expiration of two (2) three years following the Maturity Final Payment Date for any Class of Notes of any Series and with the Notes issued hereunderprior written consent of each Insurer, any monies deposited moneys set aside in the Holdover Account accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes then remaining on deposit and unclaimed by the any lawful owner thereof thereof, and, to the extent required by applicable law, any accrued interest thereon shall be paid remitted to the Issuer (or 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 any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document)applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repaymentremittance, may, at the expense of the Issuerapplicable 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 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 two newspapers in the English language customarily published on each Business Day and of general circulation, circulation in New York, New York, a notice to the effect that said monies such moneys remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said monies such moneys then remaining in the hands of the Indenture Trustee will be paid to the Issuer upon its written directionsdirections to be held in trust for the benefit of the 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphSection 5.10.

Appears in 1 contract

Samples: Master Indenture (Spirit Finance Corp)

Unclaimed Funds. At Subject to applicable laws with respect to escheat of funds, any money held by the expiration Indenture Trustee in trust for the payment of any amount due with respect to any Note and remaining unclaimed for two (2) years following the Maturity final Payment Date of on the Notes issued hereunder, any monies deposited in the Holdover Account for shall be discharged from such Notes then remaining on deposit trust and unclaimed by the lawful owner thereof shall be paid to the Issuer (or in accordance with any written directions previously given to the Trustee by the Issuer) on Issuer Request; and the Person entitled to receive Holder of such monies thereafter Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof as an unsecured general creditor (without regard but only to any limitation on recourse contained herein or in the Notes or any other Security Documentextent of the amounts so paid to the Issuer), and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, however, that the Indenture Trustee, before being required to make any such repayment, may, shall at the expense and direction of the Issuer, Issuer cause to be published at least once but not more than three times in any Authorized Newspaper (if the Notes wereonce, as of the Trustee's receipt of such payment, listed on a securities exchange or an over-the-counter market) and in a newspaper published in the English language language, customarily published on each Business Day and of general circulationcirculation in The City of New York (including, in New Yorkbut not limited to, New YorkThe Bond Buyer), a notice to the effect that said monies remain such money remains unclaimed and have not been applied for the purpose for which they were depositedthat, and that after a date specified therein, which shall not be not less than thirty (30) 30 days after from the date of first publication of said noticesuch publication, any unclaimed balance of said monies such money then remaining in will be repaid to the hands Issuer. The Indenture Trustee shall also adopt and employ, at the expense and direction of the Trustee will be paid Issuer, any other reasonable means of notification of such repayment (including, but not limited to, mailing notice of such repayment to Holders whose Notes have been called but have not been surrendered for redemption or whose right to or interest in moneys due and payable but not claimed is determinable from the Issuer upon its written directions. Any successor to the Issuer through merger, consolidation or otherwise or any recipient of substantially all the assets records of the Issuer in a liquidation of the Issuer shall remain liable for the amount Indenture Trustee or of any unclaimed balance paid to Paying Agent, at the Issuer pursuant to this paragraphlast address of record for each such Holder).

Appears in 1 contract

Samples: Indenture (New York Mortgage Trust Inc)

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Unclaimed Funds. At The Indenture 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 the expiration of two (2) years following the Maturity Final Payment Date for any Class of the Notes issued hereunderNotes, any monies deposited set aside in the Holdover Account accordance with Section 2.11(b) for payment of principal, interest and other amounts on such Notes then remaining on deposit and unclaimed by the any lawful owner thereof thereof, and, to the extent required by applicable law, any accrued interest thereon shall be paid remitted to the Issuer (or to be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document)applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repaymentremittance, 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 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 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 effect that said such monies remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said such monies then remaining in the hands of the Indenture Trustee will be paid to the Issuer upon its written directionsdirections to be held in trust for the benefit of the 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphSection 5.10.

Appears in 1 contract

Samples: Indenture (Trustreet Properties Inc)

Unclaimed Funds. At The Indenture 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 the expiration of two (2) three years following the Maturity Final Payment Date of for the Notes issued hereunder, any monies deposited in the Holdover Account for such Notes then remaining on deposit and unclaimed by the lawful owner thereof shall be paid to the Issuer (or moneys set aside in accordance with Section 2.15(b) for payment of principal, interest and other amounts on such Notes remaining unclaimed by any written directions previously given lawful owner thereof, and, to the Trustee extent required by applicable law, any accrued interest thereon shall be remitted to the Issuer) and the Person entitled , as their interest may appear, to receive such monies thereafter shall look only to be held in trust by the Issuer for payment thereof as an unsecured general creditor (without regard to any limitation on recourse contained herein or the benefit of the applicable Noteholder until distributed in the Notes or any other Security Document)accordance with applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repaymentremittance, may, at the expense of the Issuerapplicable 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 Collateral Pool, 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 two newspapers in the English language customarily published on each Business Day and of general circulation, circulation in New York, New York, a notice to the effect that said monies such moneys remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said monies such moneys then remaining in the hands of the Indenture Trustee will be paid to the Issuer upon its their written directionsdirections to be held in trust for the benefit of the 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphSection 5.10.

Appears in 1 contract

Samples: Indenture (Manhattan Bridge Capital, Inc)

Unclaimed Funds. At Subject to abandoned property laws, on the expiration of two (2) years following the Maturity Date request of the Notes issued hereunderIssuer, any monies money deposited in with the Holdover Account for such Notes Indenture Trustee or any Paying Agent, or then remaining on deposit and unclaimed held by the lawful owner thereof Issuer, in trust for the payment of the principal of or interest on any Bond and remaining unclaimed for three years after it has become due and payable shall be discharged from the trust and paid to the Issuer (or in accordance with any written directions previously given to Issuer. The Holder of the Trustee by the Issuer) and the Person entitled to receive such monies Bond on which payment was due shall thereafter shall look only to the Issuer for payment thereof as an unsecured general creditor (without regard to any limitation on recourse contained herein or in the Notes or any other Security Document), and all creditor. All liability of the Indenture Trustee with respect to such or the Paying Agent regarding that trust money to the extent so paid to the Issuer shall thereupon cease; PROVIDED that . The Indenture Trustee or the TrusteePaying Agent, before being required to make any such repaymentpayment, may, may at the expense of the Issuer, Issuer cause to be published at least once but not more than three times in any Authorized Newspaper (if the Notes wereonce, as of the Trustee's receipt of such payment, listed on a securities exchange or an over-the-counter market) and in a newspaper of general circulation published in the English language and customarily published on each Business Day in The City of New York and in the city in which the principal corporate trust office of general circulationthe Indenture Trustee is located, in New York, New York, a notice to the effect that said monies remain such money remains unclaimed and have not been applied for the purpose for which they were depositedthat, and that after a date specified therein, which shall be not less than thirty (30) 30 days after from the date of first publication of said noticethe publication, any unclaimed balance of said monies that money then remaining in will be repaid to the hands Issuer. The Indenture Trustee may also adopt and employ, at the expense of the Trustee will be paid to the Issuer upon its written directions. Any successor to the Issuer through mergerIssuer, consolidation or otherwise or any recipient other reasonable means of substantially all the assets notification of a release of payment (including, mailing notice of the Issuer in a liquidation release to Bondholders whose Bonds have been called but have not been surrendered for redemption or whose right to monies payable but not claimed is determinable from the records of any Paying Agent, at the last address of record of the Issuer shall remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphHolder).

Appears in 1 contract

Samples: Indenture (Istar Financial Inc)

Unclaimed Funds. At Any money deposited with the expiration of two (2) years following Trustee or any Paying Agent, or then held by the Maturity Date Issuer, in trust for the payment of the Notes issued hereunder, prin cipal of or interest on any monies deposited in the Holdover Account Note and remaining unclaimed for five years after such Notes then remaining on deposit principal or interest has become due and unclaimed by the lawful owner thereof payable shall be paid to the Issuer on Issuer Request, or (or in accordance with any written directions previously given to the Trustee if then held by the Issuer) shall be discharged from such trust; and the Person entitled to receive Holder of such monies thereafter Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof as an unsecured general creditor thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money (without regard but only to any limitation on recourse contained herein or in the Notes or any other Security Documentextent of the amounts so paid to the Issuer), and all liability of the Trustee with respect to such trust money Issuer as trustee there of, shall thereupon cease; PROVIDED provided, however, that the TrusteeTrustee or such Paying Agent, before being required to make any such repaymentrelease or payment, may, may at the expense of the Issuer, Issuer cause to be published at least once but not more than three times in any Authorized Newspaper (if the Notes werepublish ed once, as of the Trustee's receipt of such payment, listed on a securities exchange or an over-the-counter market) and in a newspaper published in the English language language, customarily published on each Business Day and of general circulation, circulation in New York, New YorkYork and in the city in which the Corporate Trust Office is located, a notice to the effect that said monies remain such money remains unclaimed and have not been applied for the purpose for which they were depositedthat, and that after a date specified therein, which shall not be not less than thirty (30) 30 days after from the date of first publication of said noticesuch publication, any unclaimed balance of said monies such money then remaining in will be repaid to the hands Issuer. The Trustee may also adopt and employ, at the expense of the Trustee will be paid Issuer, any other reasonable means of notification of such release of payment (including, but not limited to, mailing notice of such release to Holders whose Notes have been called but have not been surrendered for redemption or whose right to or interest in monies due and payable but not claimed is determinable from the Issuer upon its written directions. 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 remain liable for the amount records of any unclaimed balance paid to Paying Agent, at the Issuer pursuant to this paragraphlast address of record of each such Holder).

Appears in 1 contract

Samples: Indenture (Dyncorp)

Unclaimed Funds. At Subject to the terms of this Indenture and the other Transaction Documents, the Indenture 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 the expiration of two (2) years following the Maturity Final Payment Date of for the Notes issued hereunderNotes, any monies deposited set aside in the Holdover Account accordance with Section 2.12(b) for payment of principal, interest and other amounts on such Notes then remaining on deposit and unclaimed by the any lawful owner thereof thereof, and, to the extent required by applicable law, any accrued interest thereon shall be paid remitted to the Issuer (or to be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document)applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided that the Indenture Trustee, before being required to make any such repaymentremittance, 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 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 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 effect that said such monies remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) days after the date of first publication of said notice, any unclaimed balance of said such monies then remaining in the hands of the Indenture Trustee will be paid to the Issuer upon its written directionsdirections to be held in trust for the benefit of the 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphSection 5.10.

Appears in 1 contract

Samples: Indenture (Capital Automotive Reit)

Unclaimed Funds. At The Indenture 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 the expiration of two (2) years following the Maturity Final Payment Date for the Notes, if any 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 Notes issued hereunderextent required by applicable law, any monies deposited in the Holdover Account for such Notes then remaining on deposit and unclaimed by the lawful owner thereof accrued interest thereon shall be paid remitted to the Issuer (or to be held in trust by the Issuer for the benefit of the applicable Noteholder until distributed in accordance with any written directions previously given to the Trustee by the 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 recourse contained herein or in the Notes or any other Security Document)applicable law, and all liability of the Indenture Trustee with respect to such trust money shall thereupon cease; PROVIDED provided, that the Indenture Trustee, before being required to make any such repayment, 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 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 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 effect that said such monies remain unclaimed and have not been applied for the purpose for which they were deposited, and that after a date specified therein, which shall be not less than thirty (30) 30 days after the date of first publication of said notice, any unclaimed balance of said such monies then remaining in the hands of the Indenture Trustee will be paid to the Issuer upon its written directionsdirections to be held in trust for the benefit of the 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 remain liable for the amount of any unclaimed balance paid to the Issuer pursuant to this paragraphSection 5.10.

Appears in 1 contract

Samples: Indenture (Impac Mortgage Holdings Inc)

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