Common use of Payments to be Held in Trust Clause in Contracts

Payments to be Held in Trust. Subject to Section 11.4.2, if any payment or distribution of assets of the Parent or any of its Subsidiaries of any kind or character, whether in cash, property or securities, shall be received by the Subordinated Note Purchasers on account of principal, interest or other amounts due hereunder that, because of the provisions of this Section 11, should not have been made, then such payment or distribution shall be received and held in trust for, and shall be paid over to, the holders of Senior Notes remaining unpaid or unprovided for or their representative or representatives under the agreements pursuant to which the Senior Notes may have been issued for application to the payment of such Senior Notes until all Senior Notes shall have been paid in full, after giving effect to any concurrent payment or distribution to the holders of such Senior Notes.