Common use of Preferential Collection of Claims Against Depositor Clause in Contracts

Preferential Collection of Claims Against Depositor. or ------------------------------------------------------ Trust. If and when the Property Trustee shall be or become a creditor of the ------ Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), the Property Trustee shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or Trust (or any such other obligor).

Appears in 1 contract

Sources: Trust Agreement (Alcoa Trust I)

Preferential Collection of Claims Against Depositor. or ------------------------------------------------------ Trust. If and when the Property Trustee shall be or become a creditor of the ------ Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), the Property Trustee shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or Trust (or any such other obligor).

Appears in 1 contract

Sources: Trust Agreement (United Rentals Inc /De)