Common use of Preferential Collection of Claims Against the Issuer Clause in Contracts

Preferential Collection of Claims Against the Issuer. Subject to the provisions of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Issuer within four months prior to a default, as defined in subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the Holders of other indenture securities (as defined in this Section):

Appears in 2 contracts

Sources: Indenture (Progressive Corp/Oh/), Indenture (Progressive Corp/Oh/)

Preferential Collection of Claims Against the Issuer. Subject to the provisions of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Issuer within four months prior to a default, as defined in subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the Holders holders of other indenture securities (as defined in this Section):

Appears in 1 contract

Sources: Indenture (Norfolk Southern Railway Co /Va/)

Preferential Collection of Claims Against the Issuer. Subject to the provisions of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Issuer within four months prior to a default, as defined in subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and Coupons and the Holders holders of other indenture securities (as defined in this Sectionsuch subsection (c)):

Appears in 1 contract

Sources: Indenture (Premark International Inc)

Preferential Collection of Claims Against the Issuer. Subject to the provisions of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Issuer within four three months prior to a default, as defined in subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the Holders holders of other indenture securities (as defined in this Section):

Appears in 1 contract

Sources: Subordinated Indenture (Conagra Foods Inc /De/)

Preferential Collection of Claims Against the Issuer. (a) Subject to the provisions of subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Issuer within four three months prior to a default, as defined in subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the Holders of other indenture securities (as defined in this Section):shall

Appears in 1 contract

Sources: Indenture (Science Applications International Corp)

Preferential Collection of Claims Against the Issuer. (a) Subject to the provisions of this Section, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Issuer or any other obligor of the Securities within four three months prior to a default, as defined in subsection (c) of this Section, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Securities and the Holders of other indenture securities (as defined in this Section):in

Appears in 1 contract

Sources: Indenture (Idacorp Inc)