Disposition of Moneys Held for Payments of Notes Sample Clauses

The "Disposition of Moneys Held for Payments of Notes" clause defines how funds collected for the repayment of notes are managed and distributed. Typically, this clause outlines the responsibilities of a trustee or paying agent in holding these funds in a designated account and ensuring they are used exclusively for paying principal and interest to noteholders. For example, it may specify that any excess funds remaining after all payments are made should be returned to the issuer or handled according to the agreement. The core function of this clause is to ensure transparency and proper handling of payment funds, protecting both the issuer and noteholders by clearly allocating financial responsibilities and procedures.
Disposition of Moneys Held for Payments of Notes. Any ------------------------------------------------ money set aside under Section 7.08 and not paid to Holders under Section 7.08 shall be held by the Indenture Trustee in trust until the latest of (a) the date three years after the date of such setting aside, (b) the date all other Holders (other than other Holders for which the Indenture Trustee is holding such moneys pursuant to Section 7.08) of the Secured Notes shall have received full payment of all principal of and interest and other sums payable to them on such Secured Notes or the Indenture Trustee shall hold (and shall have notified such Persons that it holds) in trust an amount sufficient to make full payment thereof when due, and (c) the date the Owner Trust shall have fully performed and observed all its covenants and obligations contained in this Indenture with respect to the Secured Notes; and thereafter shall be paid to the Owner Trust by the Indenture Trustee, who then shall be released from all further liability with respect to such moneys, and thereafter the Holders of the Secured Notes in respect of which such moneys were so paid to the Owner Trust shall have no rights in respect thereof except to obtain payment of such moneys from the Owner Trust.
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Disposition of Moneys Held for Payments of Notes. (a) ------------------------------------------------ Any money set aside under Section 7.08 and not paid to Holders under Section 7.08 shall be held by the Indenture Trustee in trust until the date three years after the date of such setting aside, and thereafter shall be paid to the Owner Trustee by the Indenture Trustee who then shall be released from all further liability with respect to such moneys, and thereafter the Holders of the Secured Notes in respect of which such moneys were so paid to the Owner Trustee shall have no rights in respect thereof except to obtain payment of such moneys from the Owner Trustee.
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Disposition of Moneys Held for Payments of Notes. Any moneys set aside under Section 11.1 and not paid to Holders of Notes as provided in Section 11.1 shall be held by the Indenture Trustee in trust until the latest of (i) the date three years after the date of such setting aside, (ii) the date all other Holders of the Notes shall have received full payment of all principal of and interest and other sums payable to them on such Notes or the Indenture Trustee shall hold (and shall have notified such Persons that it holds) in trust for that purpose an amount sufficient to make full payment thereof when due and (iii) the date the Owner Trustee shall have fully performed and observed all its covenants and obligations contained in
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Related to Disposition of Moneys Held for Payments of Notes

  • Collection of Moneys Except as otherwise expressly provided in this Agreement, the Trustee and the Paying Agent may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee or the Paying Agent, as the case may be, pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be, shall hold all such money and property received by it as part of the Trust and shall distribute it as provided in this Agreement. If the Trustee or the Paying Agent, as the case may be, shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee or the Paying Agent, as the case may be, shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee or the Paying Agent, as the case may be, shall subsequently receive any such amount, it may withdraw such request.

  • Application of Money Collected Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

  • Repayment of Moneys Held by Paying Agent In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to such Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.03 or 4.02 and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

  • Application of Moneys Collected Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Payment of Moneys Held by Paying Agents In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations.