Common use of Deposits with Trustee Clause in Contracts

Deposits with Trustee. The Issuer shall have irrevocably deposited in trust with the Trustee, money in the Currency in which the Securities of such series are payable or U.S. Government Obligations or a combination thereof in such amounts and at such times as are sufficient (without consideration of any investment of such principal and interest) to pay the principal of and interest on the Outstanding Securities of such Series to Maturity or redemption; provided, however, that the Trustee shall have received an irrevocable written order from the Issuer instructing the Trustee to apply such money or the proceeds of such U.S. Government Obligations to said payments with respect to the Securities of such series to Maturity or redemption.

Appears in 6 contracts

Sources: Indenture (Pfizer Inc), Indenture (Pfizer Investment Enterprises PTE LTD), Indenture (BlackRock, Inc.)