Common use of Application of Moneys Received by the Trustee Clause in Contracts

Application of Moneys Received by the Trustee. (A) The Trustee shall apply all moneys received by it under these presents (without prejudice to Clause 9): (i) first, in payment or satisfaction of the costs, charges, expenses and liabilities properly incurred by the Trustee and/or any Appointee in or about the preparation and execution of the trusts of these presents (including remuneration of the Trustee and of any Appointee); (ii) secondly, in or towards payment pari passu and rateably of all arrears of amounts corresponding to principal, premium, if any, and interest remaining unpaid in respect of the Notes; and (iii) the balance (if any) in payment to the Issuer. (B) Without prejudice to the provisions of this Clause, if the Trustee shall hold any moneys which represent amounts payable in respect of Notes which have become void under Condition 8, the Trustee shall hold such moneys on the above trusts provided that the Trustee shall be required to treat any payments of principal, premium, if any, and/or interest due under the Notes as having been satisfied and no amounts as outstanding or owing in respect thereof.