Paying Agent to Hold Clause Samples
The "Paying Agent to Hold" clause designates a paying agent as the party responsible for holding and managing funds on behalf of other parties involved in a transaction, typically in the context of debt instruments or securities. In practice, the paying agent receives payments from the issuer and then distributes these funds to the appropriate recipients, such as bondholders or lenders, according to the agreed schedule. This arrangement ensures that payments are handled efficiently and securely, reducing the risk of misdirected or delayed payments and providing a clear mechanism for the flow of funds.
Paying Agent to Hold. Money In Trust 16
Paying Agent to Hold. Money in Trust 10 Section 2.07. Holder Lists 10 Section 2.08. Transfer and Exchange 11 Section 2.09. Replacement Securities 15 Section 2.10. Outstanding Securities 16 Section 2.11. Treasury Securities 16 Section 2.12. Temporary Securities 16 Section 2.13. Cancellation 16 Section 2.14. Defaulted Interest 17 Section 2.15. CUSIP Number 17
Paying Agent to Hold. Money in Trust. Prior to, or not later than 10:00 a.m., New York City time, on each due date of the principal of and premium, if any, and interest on any Security, AK Steel shall deposit with the Paying Agent a sum sufficient to pay such principal, premium and interest when so becoming due. AK Steel shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of principal of or interest on the Securities and shall notify the Trustee of any default by AK Steel in making any such payment. If AK Steel or a domestically incorporated Wholly Owned Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. AK Steel at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by the Paying Agent. Upon complying with this Section 2.4, the Paying Agent shall have no further liability for the money delivered to the Trustee.
Paying Agent to Hold. Money in Trust 26 SECTION 2.05. Lists of Holders of Securities 26 SECTION 2.06. Transfer and Exchange 26 SECTION 2.07. Replacement Securities 27 SECTION 2.08. Outstanding Securities 27 SECTION 2.09. Temporary Securities 27 SECTION 2.10. Cancellation 27 SECTION 2.11. Defaulted Interest 27 SECTION 2.12. CUSIP Numbers, ISINs, etc 28
Paying Agent to Hold. Money in Trust 27 Section 2.05. Holder Lists 27 Section 2.06. Transfer and Exchange 27 Section 2.07. Issuance of Additional Notes 40 Section 2.08. Replacement Notes 40 Section 2.09. Outstanding Notes 40 Section 2.10. Treasury Notes 41 Section 2.11. Temporary Notes 41 Section 2.12. Cancellation 41 Section 2.13. Defaulted Interest 41 Section 2.14. CUSIP Numbers 42 ARTICLE 3 REDEMPTION 42 Section 3.01. Notices to Trustee 42 Section 3.02. Selection of Notes to Be Redeemed or Purchased 42 Section 3.03. Notice of Redemption 43 Section 3.04. Effect of Notice of Redemption 44 Section 3.05. Deposit of Redemption or Purchase Price 44 Section 3.06. Notes Redeemed or Purchased in Part 44 Section 3.07. Optional Redemption 44 Section 3.08. Mandatory Redemption 45 ARTICLE 4 COVENANTS 45 Section 4.01. Payment of Notes 45 Section 4.02. Maintenance of Office or Agency 45 Section 4.03. SEC Reports 45 Section 4.04. Compliance Certificate 46 Section 4.05. [Intentionally Omitted] 46 Section 4.06. Stay, Extension and Usury Laws 46 Section 4.07. Limitation on Dispositions of Collateral 46
Paying Agent to Hold. Money in Trust 26 SECTION 2.05. Lists of Holders of Securities 26 SECTION 2.06. Transfer and Exchange 26 SECTION 2.07. Replacement Securities 27 SECTION 2.08. Outstanding Securities 27 SECTION 2.09. Temporary Securities 27 SECTION 2.10. Cancellation 27 SECTION 2.11. Defaulted Interest 28 SECTION 2.12. CUSIP Numbers, ISINs, etc 28 SECTION 3.01. Notices to Trustee 28 SECTION 3.02. Selection of Securities to Be Redeemed 28 SECTION 3.03. Notice of Redemption 29 SECTION 3.04. Effect of Notice of Redemption 29 SECTION 3.05. Deposit of Redemption Price 30 SECTION 3.06. Securities Redeemed in Part 30 SECTION 3.07. Open Market ▇▇▇▇▇▇▇▇▇▇ ▇▇ SECTION 3.08. Optional Redemption 30
Paying Agent to Hold. Money in Trust 35 Section 2.05. Holder Lists 35 Section 2.06. Transfer and Exchange 36 Section 2.07. Replacement Notes 45 Section 2.08. Outstanding Notes 45 Section 2.09. Treasury Notes 45 Section 2.10. Temporary Notes 46
Paying Agent to Hold. Money in Trust 68 4157-8291-1056.22 ARTICLE IV. CONDITIONS PRECEDENT 70 SECTION 4.1 Conditions Precedent to Effectiveness 70 SECTION 4.2 Conditions Precedent to each Advance 72
Paying Agent to Hold. Money in TrustSection 2.05. . By no later than 11:00 a.m. (New York City time) on the date on which any principal or interest on any Note is due and payable, the Company shall deposit with the applicable Paying Agent a sum sufficient to pay such principal or interest when due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Noteholders or the Trustee all money held by such Paying Agent for the payment of principal of or interest on the Notes and shall notify the Trustee in writing of any Default by the Company in making any such payment. If either of the Company or any of its Subsidiaries acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section 2.04, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money delivered to the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Notes.
Paying Agent to Hold. Money In Trust. . 11 Section 3.05. Securityholder Lists 12 Section 3.06. Transfer And Exchange 12 Section 3.07. Replacement Securities 12 Section 3.08. Outstanding Securities 13 Section 3.09. Temporary Securities 13 Section 3.10. Cancellation. 13 Section 3.11. Defaulted Interest 13 Section 3.12. Mandatory Disposition Of Securities Pursuant To Gaming Laws 14 Article Four - Covenants . . . .