Common use of Application by Trustee of Assets Deposited with It Clause in Contracts

Application by Trustee of Assets Deposited with It. U.S. Legal Tender or U.S. Government Obligations deposited in trust with the Trustee pursuant to and in accordance with Article Right shall be for the sole benefit of the Holders of the Notes and, to the extent allocated for the payment of Notes, shall not be subject to the subordination provisions of this Article Twelve. Otherwise, any deposit of assets or securities by or on behalf of the Company with the Trustee or any Paying Agent (whether or not in trust) for the payment of principal of or interest on any Notes shall be subject to the provisions of this Article Twelve; PROVIDED, HOWEVER, that if prior to the second Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of either principal of or interest on any Note) the Trustee or such Paying Agent shall not have received with respect to such assets the notice provided for in Section 10.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary received by it on or after such date. The foregoing shall not apply to the Paying Agent if the Company or any Subsidiary or Affiliate of the Company is acting as Paying Agent. Nothing contained in this Section 12.06 shall limit the right of the holders of Guarantor Senior Indebtedness to recover payments as contemplated by this Article Twelve.

Application by Trustee of Assets Deposited with It. U.S. Legal Tender or Tender, U.S. Government Obligations, Euros or Euro Obligations deposited in trust with the Trustee pursuant to and in accordance with Article Right Sections 8.01 and 8.02 shall be for the sole benefit of the Holders of the Notes and, to the extent allocated for the payment of Notes, shall not be subject to the subordination provisions of this Article Twelve. Otherwise, any deposit of assets or securities by or on behalf of the Company a Guarantor with the Trustee or any Paying Agent (whether or not in trust) for the payment of principal of or interest on any Notes the Guarantees shall be subject to the provisions of this Article Twelve; PROVIDED, HOWEVER, that if prior to the second Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of either principal of or interest on any Note) the Trustee or such Paying Agent shall not have received with respect to such assets the notice provided for in Section 10.0612.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary received by it on or after such date. The foregoing shall not apply to the Paying Agent if the Company or any Subsidiary or Affiliate of the Company is acting as Paying Agent. Nothing contained in this Section 12.06 12.07 shall limit the right of the holders of Guarantor Senior Indebtedness Debt to recover payments as contemplated by this Article Twelve.

Application by Trustee of Assets Deposited with It. U.S. Legal Tender or U.S. Government Obligations deposited in trust with the Trustee pursuant to and in accordance with Article Right Sections 9.1 and 9.2 shall be for the sole benefit of the Holders of the Notes Securities and, to the extent allocated for the payment of NotesSecurities, shall not be subject to the subordination provisions of this Article TwelveTwelve or Article Four. Otherwise, any deposit of assets or securities by or on behalf of the Company a Subsidiary Guarantor with the Trustee or any Paying Agent (whether or not in trust) for the payment of principal of or interest on any Notes shall the Guarantees shal l be subject to the provisions provisional signs of this Article Twelve; PROVIDEDprovided, HOWEVERhowever, that if prior to the second Business Day preceding the date -------- ------- on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of either principal of or interest on any NoteSecurity) the Trustee or such Paying Agent shall not have received with respect to such assets the notice provided for in Section 10.0612.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary received by it on or after such date. The foregoing shall not apply to the Paying Agent if the Company or any Subsidiary or Affiliate of the Company is acting as Paying Agent. Nothing contained in this Section 12.06 12.7 shall limit the right of the holders of Guarantor Senior Indebtedness to recover payments as contemplated by this Article Twelve.

Application by Trustee of Assets Deposited with It. U.S. Legal Tender or U.S. Government Obligations deposited in trust with the Trustee pursuant to and in accordance with Article Right Section ____ [Insert reference to defeasance provisions] (including, without limitation, clause __ thereof [Insert reference to provision prohibiting defeasance if doing so would violate a contractual obligation of the Parent or Borrower]) shall be for the sole benefit of the Holders of the Notes Securityholders and, to the extent allocated for the payment of NotesSecurities, shall not be subject to the subordination provisions of this Article Twelve. X. Otherwise, any deposit of assets or securities by or on behalf of the Company Borrower with the Trustee or any Paying Agent (whether or not in trust) for the payment of principal of or interest on or Other Obligations with respect to any Notes Securities shall be subject to the provisions of this Article TwelveX; PROVIDED, HOWEVER, provided that if prior to the second Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of either principal of or interest on any NoteSecurity) the Trustee or such Paying Agent shall not have received with respect to such assets the notice provided for in Section 10.06X.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary received by it on or after such date. The foregoing shall not apply to the Paying Agent if the Company Borrower or any Subsidiary or Affiliate of the Company Borrower is acting as Paying Agent. Nothing contained in this Section 12.06 X.7 shall limit the right of the holders of Guarantor Senior Indebtedness to recover payments as contemplated by this Article Twelve.X.

Application by Trustee of Assets Deposited with It. U.S. Legal Tender or U.S. Government Obligations Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Right this Indenture shall be for the sole benefit of the Holders of the Notes Securities and, to the extent allocated for the payment of NotesSecurities, shall not be subject to the subordination provisions of this Article TwelveFifteen. Otherwise, any deposit of assets or securities by or on behalf of the Company with the Trustee or any Paying the Agent (whether or not in trust) for the payment of principal of or interest on any Notes Securities shall be subject to the provisions of this Article TwelveSections 1501, 1502, 1503 and 1504; PROVIDEDprovided that, HOWEVER, that if prior to the second one Business Day preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of either principal of or interest any amount due on any NoteSecurity) and the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 10.061506, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date. The foregoing shall not apply to the Paying Agent if 95 103 SECTION 1508. Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Indebtedness. No right of any Subsidiary present or Affiliate future holders of any Senior Indebtedness to enforce subordination provisions contained in this Article Fifteen shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company is acting as Paying Agentor by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. Nothing contained in this Section 12.06 shall limit The holders of Senior Indebtedness may extend, renew, modify or amend the right terms of the holders of Guarantor Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to recover payments as contemplated by this Article TwelveIndenture or the Holders.