Application by Trustee of Funds Deposited for Payment of Debentures. Subject to Section 11.04, all moneys deposited with the Trustee (or other trustee) pursuant to Section 11.01 shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular 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. Notwithstanding anything contained herein to the contrary, all moneys in trust are not subject to Article XIV.
Appears in 2 contracts
Sources: Indenture (Seitel Capital Trust Ii), Indenture (Centex Trust Ii)