Common use of Unclaimed Payments Clause in Contracts

Unclaimed Payments. If any money deposited with any paying agent, or then held by the Company, in trust, for the payment of the principal of or interest on any Debenture is undeliverable and remains unclaimed for three years after such principal or interest has become due and payable, such money shall be paid to the Company on the written request of the Company, or, if then held by the Company, shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of such paying agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that such paying agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper of general circulation in the county in which the Company then has its principal place of business, notice that such money remains unclaimed and that, after a date specified therein, which shall be not less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.

Unclaimed Payments. If any money deposited with any paying agent, or then held by the Company, in trust, for the payment of the principal of or interest on any Debenture Note is undeliverable and remains unclaimed for three years after such principal or interest has become due and payable, such money shall be paid to the Company on the written request of the Company, or, if then held by the Company, shall be discharged from such trust; and the Holder of such Debenture Note shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of such paying agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that such paying agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper of general circulation in the county in which the Company then has its principal place of business, notice that such money remains unclaimed and that, after a date specified therein, which shall be not less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.

Unclaimed Payments. If any money deposited with any paying agent, or then held by the Company, in trust, for the payment of the principal of of, or interest on on, any Debenture is undeliverable and remains unclaimed for three years after such principal or interest has become due and payable, such money shall be paid to the Company on the written request of the Company, or, if then held by the Company, shall be discharged from such trust; and the Holder of such Debenture shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of such paying agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that such paying agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper of general circulation in the county in which the Company then has its principal place of business, notice that such money remains unclaimed and that, after a date specified therein, which shall be not less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.