Paying Agent and Certificate Registrar Sample Clauses

The "Paying Agent and Certificate Registrar" clause designates specific parties responsible for handling payments and maintaining records of ownership for certificates or securities issued under an agreement. Typically, the paying agent ensures that interest, principal, or other payments are distributed to certificate holders, while the certificate registrar keeps accurate records of transfers and current ownership. This clause is essential for ensuring the orderly administration of payments and the integrity of ownership records, thereby reducing the risk of payment errors or disputes over certificate ownership.
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Paying Agent and Certificate Registrar. (a) Paying Agent. CitiMortgage or the Trustee may remove a Paying Agent, and CitiMortgage, with the Trustee’s approval, may appoint another Paying Agent. Any Paying Agent must, and CitiMortgage will remove any Paying Agent that at any time fails to, satisfy the criteria in the following paragraph. A Paying Agent · may not be an Originator, CitiMortgage or an affiliate of CitiMortgage unless the Paying Agent is an agency and trust department of Citibank, N.A., · must be authorized to exercise corporate trust powers under the laws of its jurisdiction of organization, and · must be rated at least A-1 by S&P if S&P is a rating agency, and at least F1 by Fitch if Fitch is a rating agency. If no Paying Agent is appointed, the Trustee will be the Paying Agent. CitiMortgage will notify the rating agencies of any change of Paying Agent. The Paying Agent will · hold all amounts deposited with it by CitiMortgage or the Trustee for payment on the certificates in trust for the benefit of the certificate holders and any Insurer until the amounts are paid to the certificate holders or the Insurer or otherwise disposed of in accordance with this agreement, · give the Trustee notice of any default by CitiMortgage in making any such deposit, and · during the continuance of a default by CitiMortgage in making such a deposit, upon the Trustee’s written request, immediately pay to the Trustee all amounts so held in trust by the Paying Agent. CitiMortgage will cause any Paying Agent that is not the Trustee or a signatory to this agreement to execute and deliver to the Trustee an instrument in which the Paying Agent agrees with the Trustee that the Paying Agent will have all the rights and obligations of a Paying Agent under this agreement.
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Paying Agent and Certificate Registrar. (a) Paying Agent. CitiMortgage or the Trustee may remove a Paying Agent, and CitiMortgage, with the Trustee’s approval, may appoint another Paying Agent.
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Paying Agent and Certificate Registrar 
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Related to Paying Agent and Certificate Registrar

  • Certificate Register and Certificate Registrar 9 Class.........................................................................9

  • Paying Agent and Registrar Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.

  • Registrar, Paying Agent and Conversion Agent (a) The Company shall maintain one or more offices or agencies where Securities may be presented for registration of transfer or for exchange (each, a “Registrar”), one or more offices or agencies where Securities may be presented or surrendered for payment (each, a “Paying Agent”), one or more offices or agencies where Securities may be presented for conversion (each, a “Conversion Agent”) and one or more offices or agencies where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will at all times maintain a Paying Agent, Conversion Agent, Registrar and an office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served in the Borough of Manhattan, The City of New York. One of the Registrars (the “Primary Registrar”) shall keep a register of the Securities and of their transfer and exchange. At the option of the Company, any payment of cash may be made by check mailed to the Holders at their addresses set forth in the register of Holders. (b) The Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture, provided that the Agent may be an Affiliate of the Trustee. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee of the name and address, and any change in the name or address, of any Agent not a party to this Indenture. If the Company fails to maintain a Registrar, Paying Agent, Conversion Agent, or agent for service of notices and demands in any place required by this Indenture, or fails to give the foregoing notice, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent (except for the purposes of Article 9). (c) The Company hereby initially designates U.S. Bank National Association as Paying Agent, Registrar, Securities Custodian and Conversion Agent, and designates the Corporate Trust Office of the Trustee as the office or agency of the Company for each of the aforesaid purposes and as the office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served.

  • Paying Agent, Transfer Agent and Registrar Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent, Transfer Agent and Registrar. The Issuer may change any Paying Agent, Transfer Agent or Registrar without prior notice to the Holders. The Issuer or any of its Subsidiaries may act in any such capacity.

  • Paying Agent and Security Registrar The Trustee will act as Paying Agent, Security Registrar and Conversion Agent. The Company may change any Paying Agent, Security Registrar, co-registrar or Conversion Agent without prior notice. The Company or any of its Affiliates may act in any such capacity.