Common use of Payments to Creditors Clause in Contracts

Payments to Creditors. Prior to a Change of Control, payment by the Trustees to any creditor of the Company other than a Beneficiary shall be made only upon instructions from DP&L or pursuant to the final judgment of any court of competent jurisdiction. The Trustees shall notify DP&L prior to any payment of any part of the Trust Corpus to any creditor of the Company other than a Beneficiary. Following a Change of Control, payments by the Trustees to any creditor shall be made only as provided in Article 6, paragraph A of this Agreement.

Appears in 2 contracts

Sources: Master Trust Agreement (DPL Inc), Master Trust Agreement (DPL Inc)