Common use of When Distributions Must Be Paid Over Clause in Contracts

When Distributions Must Be Paid Over. In the event that the Trustee or any Holder receives any payment of any Note Obligations with respect to the Notes at a time when the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by this Article 13, such payment will be held by the Trustee or such Holder, in trust for the benefit of, and will be paid forthwith over and delivered, upon written request of the Company, to, the holders of the Series A Preferred Stock as their interests may appear under the Certificate of Designations (or as the Company specifies in an Officer’s Certificate to the Trustee), for application to the payment of all Other Redemption Payments remaining unpaid to the extent necessary to pay such Other Redemption Payments in full in accordance with their terms. With respect to the holders of Series A Preferred Stock, the Trustee undertakes to perform only those obligations on the part of the Trustee as are specifically set forth in this Article 13, and no implied covenants or obligations with respect to the holders of the Series A Preferred Stock will be read into this Indenture against the Trustee. The Trustee will not be deemed to owe any fiduciary duty to the holders of the Series A Preferred Stock, and will not be liable to any such holders if the Trustee pays over or distributes to or on behalf of Holders or the Company or any other Person money or assets to which any holders of Series A Preferred Stock are then entitled by virtue of this Article 13, except if such payment is made as a result of the willful misconduct or gross negligence of the Trustee.

When Distributions Must Be Paid Over. In the event that If the Trustee or any Holder receives any payment of any Note Obligations with respect to the Notes (other than Permitted Junior Securities or the consideration due upon any conversion of Notes pursuant to Section 6.11) at a time when the payment is prohibited by Section 6.02 or 6.03 and the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by this Article 13so prohibited, then such payment will be held by the Trustee or such Holder, as applicable, in trust for the benefit of, and will be paid forthwith over and delivered, upon written request of the Company, to, the holders of the Series A Preferred Stock Designated Senior Indebtedness as their interests may appear under the Certificate of Designations (or as the Company specifies in an Officer’s Certificate to the Trustee), their Representative for application to the payment of all Other Redemption Payments Obligations with respect to Designated Senior Indebtedness remaining unpaid to the extent necessary to pay such Other Redemption Payments Obligations in full in accordance with their terms, after giving effect to any concurrent payment or distribution to or for the holders of Designated Senior Indebtedness. With respect to the holders of Series A Preferred StockDesignated Senior Indebtedness, the Trustee undertakes to perform only those obligations on the part of the Trustee as are specifically set forth in this Article 136, and no implied covenants or obligations with respect to the holders of the Series A Preferred Stock Designated Senior Indebtedness will be read into this Indenture against the Trustee. The Trustee will not be deemed to owe any fiduciary duty to the holders of the Series A Preferred Stock, Designated Senior Indebtedness and will not be liable to any such holders if the Trustee pays over or distributes to or on behalf of Holders or the Company or any other Person money or assets to which any holders of Series A Preferred Stock Designated Senior Indebtedness are then entitled by virtue of this Article 136, except if such payment is made as a result of the willful misconduct or gross negligence of the Trustee.