Common use of Application by Trustee of Funds Deposited for Payment of Debentures Clause in Contracts

Application by Trustee of Funds Deposited for Payment of Debentures. Subject to Section 8.4, all moneys deposited with the Trustee pursuant to Section 8.1 and in accordance with the provisions of Article XII with respect to the Debentures of any series shall be held in trust for the sole benefit of the Holders of the Debentures of such series and not be subject to the subordination provisions of Article XII, and such moneys shall be applied by the Trustee to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent), to the Holders of the Debentures of such series for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest, but such money need not be segregated from other funds except to the extent required by law. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 8.1 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of Debentures outstanding hereunder.