Common use of NOTEHOLDER DISTRIBUTIONS Clause in Contracts

NOTEHOLDER DISTRIBUTIONS. (a) Each Noteholder as of the related Record Date shall be paid on the next succeeding Payment Date by check mailed to such Noteholder at the address for such Noteholder appearing on the Note Register or by wire transfer to the account directed by such Noteholder if such Noteholder provides written instructions to the Trustee at least five Business Days prior to such Payment Date, which instructions may be in the form of a standing order. (b) The Trustee shall serve as the paying agent hereunder and shall make the payments to the Noteholders required hereunder. The Trustee hereby agrees that all amounts held by it for payment hereunder will be held in a segregated account for the benefit of the Noteholders. (c) All amounts distributed pursuant to the terms of this Agreement shall be deemed free and clear of the Lien of the Indenture.