Common use of Money for Notes Payments to Be Held in Trust Clause in Contracts

Money for Notes Payments to Be Held in Trust. (1) If the Issuer shall at any time act as its own Paying Agent with respect to any Series of Notes, it will, on or before each due date of the principal of (or premium, if any) or interest, if any, on any of the Notes of that Series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the Currency in which the Notes of such Series are payable (except as otherwise specified pursuant to Section 3.1 for the Notes of such Series and except, if applicable, as provided in Sections 3.13(2), 3.13(4) and 3.13(5)) sufficient to pay the principal of (or premium, if any) or interest, if any, on Notes of such Series so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. (2) Whenever the Issuer shall have one or more Paying Agents for any Series of Notes, it will, prior to or on each due date of the principal of (or premium, if any) or interest, if any, on any Notes of that Series, deposit with a Paying Agent a sum (in the Currency described in the preceding paragraph) sufficient to pay the principal (or premium, if any) or interest, if any, so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Issuer will promptly notify the Trustee of its action or failure so to act. (3) The Issuer will cause each Paying Agent (other than the Trustee) for any Series of Notes to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: (a) hold all sums held by it for the payment of the principal of (and premium, if any) and interest, if any, on Notes of such Series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; (b) give the Trustee notice of any default by the Issuer (or any other obligor upon the Notes of such Series) in the making of any payment of principal of (or premium, if any) or interest, if any, on the Notes of such Series; and (c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. (4) The Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Issuer Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Issuer or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which sums were held by the Issuer or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such sums. (5) Except as provided in the Notes of any Series, any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of (or premium, if any) or interest, if any, on any Note of any Series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Issuer on an Issuer Request subject to applicable abandoned property or escheat law, or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Issuer cause to be published once, in an Authorized Newspaper, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Issuer.

Money for Notes Payments to Be Held in Trust. (1) If the Issuer Company shall at any time act as its own Paying Agent with respect to any Series series of Notes, it will, on or before each due date of the principal of (or premium, if any) any premium or interest, if any, interest on any of the Notes of that Seriesseries, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the Currency in which the Notes of such Series are payable (except as otherwise specified pursuant to Section 3.1 for the Notes of such Series and except, if applicable, as provided in Sections 3.13(2), 3.13(4) and 3.13(5)) sufficient to pay the principal of (or premium, if any) or interest, if any, on Notes of such Series and any premium and interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. (2) . Whenever the Issuer Company shall have one or more Paying Agents for any Series series of Notes, it will, prior to or on each due date of the principal of (or premium, if any) any premium or interest, if any, interest on any Notes of that Seriesseries, deposit with a Paying Agent a sum (in the Currency described in the preceding paragraph) sufficient to pay the principal (or premium, if any) or interest, if any, so becoming duesuch amount, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Issuer Company will promptly notify the Trustee of its action or failure so to act. (3) . The Issuer Company will cause each Paying Agent (for any series of Notes other than the Trustee) for any Series of Notes Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: will (a1) hold all sums held by it for the payment of the principal of (and premium, if any) and interest, if any, or interest on the Notes of such Series that series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; (b) , and give the Trustee notice of any default by the Issuer Company (or any other obligor upon the Notes of such Seriesthat series) in the making of any payment of principal of (or and premium, if any) or interest, if any, interest on the Notes of such Seriesthat series; and (c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. (4) The Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Issuer Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Issuer or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which sums were held by the Issuer or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such sums. (5) Except as provided in the Notes of any Series, any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of (or premium, if any) or interest, if any, on any Note of any Series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Issuer on an Issuer Request subject to applicable abandoned property or escheat law, or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Issuer cause to be published once, in an Authorized Newspaper, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Issuer.

Money for Notes Payments to Be Held in Trust. (1a) If the Issuer Issuers shall at any time act as its their own Paying Agent with respect to any Series of NotesNotes and any related coupons, it they will, on or before each due date of the principal of (or premium, if any) or interest, if any, on any of the Notes of that Series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the Currency in which the Notes of such Series are payable (except as otherwise specified pursuant to Section 3.1 for the Notes of such Series and except, if applicable, as provided in Sections 3.13(23.12(b), 3.13(43.12(d) and 3.13(53.12(e)) sufficient to pay the principal of (or premium, if any) or interest, if any, on Notes of such Series so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee or Trustees of its their action or failure so to act. (2b) Whenever the Issuer Issuers shall have one or more Paying Agents for any Series of NotesNotes and any related coupons, it they will, prior to or on each due date of the principal of (or premium, if any) or interest, if any, on any Notes of that Series, deposit with a Paying Agent a sum (in the Currency described in the preceding paragraph) sufficient to pay the principal (or premium, if any) or interest, if any, so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the a Trustee) the Issuer Issuers will promptly notify the Trustee or Trustees of its their action or failure so to act. (3c) The Issuer Issuers will cause each Paying Agent (other than the TrusteeTrustee or Trustees) for any Series of Notes to execute and deliver to the Trustee or Trustees an instrument in which such Paying Agent shall agree with the TrusteeTrustee or Trustees, subject to the provisions of this Section, that such Paying Agent will: (a1) hold all sums held by it for the payment of the principal of (and premium, if any) and interest, if any, on Notes of such Series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; (b2) give the Trustee or Trustees notice of any default by the Issuer Issuers (or any other obligor upon the Notes of such Series) in the making of any payment of principal of (or premium, if any) or interest, if any, on the Notes of such Series; and (c3) at any time during the continuance of any such default, upon the written request of the TrusteeTrustee or Trustees, forthwith pay to the Trustee or Trustees all sums so held in trust by such Paying Agent. (4d) The Issuer Issuers may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Issuer Issuers Order direct any Paying Agent to pay, to the Trustee or Trustees all sums held in trust by the Issuer Issuers or such Paying Agent, such sums to be held by the Trustee or Trustees upon the same trusts as those upon which sums were held by the Issuer Issuers or such Paying Agent; and, upon such payment by any Paying Agent to the TrusteeTrustee or Trustees, such Paying Agent shall be released from all further liability with respect to such sums. (5e) Except as provided in the Notes of any Series, any money deposited with the Trustee or Trustees or any Paying Agent, or then held by the IssuerIssuers, in trust for the payment of the principal of (or premium, if any) or interest, if any, on any Note of any Series Series, or any coupon appertaining thereto, and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Issuer Issuers on an Issuer Issuers Request subject to applicable abandoned property or escheat law, or (if then held by the IssuerIssuers) shall be discharged from such trust; and the Holder of such Note or coupon shall thereafter, as an unsecured general creditor, look only to the Issuer Issuers for payment thereof, and all liability of the Trustee or Trustees or such Paying Agent with respect to such trust money, and all liability of the Issuer Issuers as trustee thereof, shall thereupon cease; provided, however, that the Trustee or Trustees or such Paying Agent, before being required to make any such repayment, may at the expense of the Issuer Issuers cause to be published once, in an Authorized Newspaper, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the IssuerIssuers.