Common use of Paying Agent and Registrar for the Notes Clause in Contracts

Paying Agent and Registrar for the Notes. The Canadian Trustee shall initially act as Paying Agent and Registrar. The Issuer may change the Paying Agent or Registrar without prior notice to the Holders of the Notes, provided that neither the Issuer nor any of its Affiliates may act as Paying Agent or Registrar. The Issuer shall enter into an appropriate agency agreement with any Paying Agent not a party to this Indenture, which agreement shall incorporate the provisions of the TIA and implement the provisions of this Indenture that relate to such Paying Agent. In the event that the Canadian Trustee is not the Paying Agent, the Issuer shall notify the Canadian Trustee, in advance, of the name and address of any such Paying Agent. If the Issuer fails to maintain a Registrar or Paying Agent, or fails to give the foregoing notice, the Canadian Trustee shall act as such. All money deposited with the Canadian Trustee for the payment of principal or interest on the Notes shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to such payment, either directly or through any Paying Agent as the Canadian Trustee may determine.