Depository Trust Agreement definition
Examples of Depository Trust Agreement in a sentence
The Depository Trust Agreement establishes initial accounts which may be divided at the instruction of the Finance Committee as necessary to hold, manage, invest and distribute funds in accordance with this Agreement.
Notwithstanding any contrary provision of applicable law, the Trustee shall invest all funds that are deposited in the Trust as specified in the Depository Trust Agreement.
Investments of monies held in the Trust shall be administered in accordance with the specifications of the Depository Trust Agreement.
To effectuate the terms of this Agreement, a Depository Trust (“the Trust”) has been established pursuant to the Second Amended and Restated Depository Trust Agreement dated as of June 1, 2004 (the “Depository Trust Agreement”).
All capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings assigned in the Plan, the Disclosure Statement, the Dow Corning Settlement Program and Claims Resolution Procedures, the Depository Trust Agreement, the Funding Payment Agreement, the Litigation Facility Agreement, and the Bankruptcy Code — in that order.
The Finance Committee may designate an alternative paying agent provided that the Finance Committee can demonstrate to the District Court that such transfer of responsibilities will satisfy the qualification criteria of the Depository Trust Agreement and will not result in any delay in payments to Claimants or affect the Claimants’ prompt receipt of payment.
Notwithstanding anything to the contrary contained in this Agreement, whenever this Agreement refers to the Settlement Facility or Settlement Fund receiving, holding, investing, disbursing or otherwise dealing with assets, it shall be deemed to refer to actions taken by the Trustee in accordance with the Depository Trust Agreement.
Unless the context requires otherwise, all capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings assigned to them in the Plan, the Disclosure Statement, the Settlement Facility Agreement, the Depository Trust Agreement, the Litigation Facility Agreement, the Insurance Allocation Agreement, and the Bankruptcy Code — in that order, which definitions are incorporated herein by this reference for all purposes.
Dow Corning shall provide evidence of the mailing of the notice and the receipts confirming delivery to the Claimants’ Advisory Committee, the Trustee of the Depository Trust Agreement, and the Finance Committee and shall deliver the original signed acknowledgements or consents to the Trustee.
To effectuate this obligation, Dow Corning hereby agrees to use commercially reasonable best efforts to instruct all Insurance Companies listed on Exhibit D hereto (and their receivers, liquidators, or schemes of arrangement if applicable), effective June 1, 2004, to pay all Insurance Proceeds (as defined herein) directly into the Post-Effective Date Insurance Proceeds Holding Account established under Section 5.01 of the Depository Trust Agreement.