Common use of Disposition of Moneys Held for Payments of Notes Clause in Contracts

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

Appears in 1 contract

Sources: Trust Indenture, Mortgage, Security Agreement and Assignment of Rents (Public Service Co of New Mexico)

Disposition of Moneys Held for Payments of Notes. Any moneys set aside under Section 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 have, notified such Persons 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

Appears in 1 contract

Sources: Trust Indenture, Mortgage, Security Agreement and Assignment of Rents (Public Service Co of New Mexico)