Common use of Paying Agent To Hold Assets in Trust Clause in Contracts

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the Notes), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notes. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes Securities (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the NotesSecurities), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the NotesSecurities) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee

Paying Agent To Hold Assets in Trust. Each The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money assets held by the applicable Paying Agent for the payment of principal of or premium premium, if any, or interest or Liquidated Damages, if any, on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the Notes)Securities, and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) Company in making any such payment of principal of or premium or interest on the Notes. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunderpayment. The Issuer Company at any time may require a Paying Agent to pay distribute all money assets held by it to the Trustee and account for any funds assets disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2)payment Default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith distribute all money so assets held by it to the Trustee and to account for any funds disbursedassets distributed. Upon making such paymentdistribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company), such the Paying Agent shall have no further liability for such assets. If the money delivered Company, any Subsidiary or any of their respective Affiliates acts as Paying Agent, it shall, on or before each due date of the principal of or interest on the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the Trusteeprincipal or premium, if any, or, interest or Liquidated Damages, if any, 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.

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable such Paying Agent for the payment of principal of or premium premium, Additional Amounts or interest on the Notes Securities (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the NotesSecurities), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the NotesSecurities) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2Section 6.01(2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the Notes), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium premium, if any, or interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the Notes), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer 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 and the disbursed. The Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee. The provisions of Article Ten applicable to the Trustee shall apply to the Paying Agents, mutatis mutandis.

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the Notes), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notes. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee.

Paying Agent To Hold Assets in Trust. Each The Company shall require each Paying Agent other than the Trustee to agree in writing that, subject to Article Four and Article Twelve, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money assets held by the applicable Paying Agent for the payment of principal of or premium of, or interest on on, the Notes Securities (whether such money has assets have been paid distributed to it by the Issuer, one or more of the Guarantors Company or any other obligor on the NotesSecurities), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer Company (or any other obligor on the NotesSecurities) in making any such payment of principal of payment. If the Company or premium or interest on the Notes. Money held in a Subsidiary acts as Paying Agent, it 45 -36- shall segregate such assets and hold them as a separate trust by a Paying Agent need not be segregated except as required by law fund, subject to Article Four and in no event shall a Paying Agent be liable for any interest on any money received by it hereunderArticle Twelve. The Issuer Company at any time may require a Paying Agent to pay distribute all money assets held by it to the Trustee and account for any funds assets disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2)payment Default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith distribute all money so assets held by it to the Trustee and to account for any funds disbursedassets distributed. Upon making such paymentdistribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, such the Paying Agent shall have no further liability for the money delivered to the Trusteesuch assets.

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes Securities (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the NotesSecurities), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the NotesSecurities) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee. The provisions of Article Ten applicable to the Trustee shall apply to the Paying Agents, mutatis mutandis.

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the Notes), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer 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 and the disbursed. The Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee. The provisions of Article Ten applicable to the Trustee shall apply to the Paying Agents, mutatis mutandis.

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders Noteholders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors Company or any other obligor on the Notes), and the Issuer Company and each the Paying Agent shall notify the Trustee of any Default by the Issuer Company (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a the Paying Agent need not be segregated except as required by law and in no event shall a the Paying Agent be liable for any interest on any money received by it hereunder. The Issuer Company at any time may require a the Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(16.1(i) or (2ii), upon written request to a the Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such the Paying Agent shall have no further liability for the money delivered to the Trustee.

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium or interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors Issuer or any other obligor on the Notes), and the Issuer and each Paying Agent shall notify the Trustee of any Default by the Issuer (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee

Paying Agent To Hold Assets in Trust. Each The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money assets held by the applicable Paying Agent for the payment of principal of or premium or of, premium, if any, interest on or Liquidated Damages, if any, with respect to, the Notes Securities (whether such money has assets have been paid distributed to it by the Issuer, one or more of the Guarantors Company or any other obligor on the NotesSecurities), and the Issuer and each Paying Agent shall notify the Trustee in writing of any Default by the Issuer (or any other obligor on the Notes) in making any such payment payment. If either of principal the Company or a Subsidiary of the Company acts as Paying Agent, it shall, on or premium or interest on prior to the Notes. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable due date for any interest on any money received by it hereundersuch payment, segregate such assets and hold them as a separate trust fund for the benefit of the Holders. The Issuer Company at any time may require a Paying Agent to pay distribute all money assets held by it to the Trustee and account for any funds assets disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2)payment Default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith distribute all money so assets held by it to the Trustee and to account for any funds disbursedassets distributed. Upon making such paymentdistribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, such the Paying Agent shall have no further liability for the money delivered to the Trusteesuch assets.

Paying Agent To Hold Assets in Trust. Each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the applicable Paying Agent for the payment of principal of or premium premium, if any, or interest on the Notes (whether such money has been paid to it by the IssuerIssuers, one or more of the Guarantors or any other obligor on the Notes), and the Issuer Issuers and each Paying Agent shall notify the Trustee of any Default by the Issuer Issuers (or any other obligor on the Notes) in making any such payment of principal of or premium or interest on the Notespayment. Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer Issuers 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 and the disbursed. The Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered to the Trustee. The provisions of Article Ten applicable to the Trustee shall apply to the Paying Agents, mutatis mutandis.