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

Application by Trustee of Assets Deposited with It. Money or U.S. Government Obligations deposited in trust with the Trustee pursuant to and in accordance with Section 9.01, 9.02 or 9.03 shall be for the sole benefit of Securityholders and, to the extent (i) the making of such deposit by the Guarantor shall not have been in contravention of any term or provision of any agreement creating or evidencing Guarantor Senior Indebtedness and (ii) allocated for the payment under the Securities (pursuant to the Guarantee), shall not be subject to the subordination provisions of this Article 12. Otherwise, any deposit of assets by the Guarantor with the Trustee or any Paying Agent (whether or not in trust) for the payment under the Guarantee of Principal of or interest on the Securities shall be subject to the provisions of Sections 12.01, 12.02, 12.03 and 12.04; 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 Securities) the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 12.06, 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 which may be received by it on or after such date.

Application by Trustee of Assets Deposited with It. Money U.S. Legal Tender or U.S. Government Obligations deposited in trust with the Trustee pursuant to and in accordance with Section 9.01, 9.02 8.1 or 9.03 8.2 hereof shall be for the sole benefit of Securityholders Debentureholders and, to the extent (i) the making of such deposit by the Guarantor Company shall not have been in contravention of any term or provision of any agreement creating or evidencing Guarantor Senior Indebtedness and (ii) allocated for the payment under the Securities (pursuant to the Guarantee)of Debentures, shall not be subject to the subordination provisions of this Article 12XI. Otherwise, any deposit of assets by the Guarantor Company with the Trustee or any Paying Agent (whether or not in trust) for the payment under the Guarantee of Principal of principal of, premium, if any, or interest on the Securities any Debentures shall be subject to the provisions of Sections 12.0111.1, 12.0211.2, 12.03 11.3 and 12.0411.4 hereof; provided, that, if prior to the second third 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 principal of, premium, if any, or interest on any SecuritiesDebenture) the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 12.0611.6 hereof, 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.