Proceeds in Trust Sample Clauses

The "Proceeds in Trust" clause establishes that any funds or assets received as a result of a transaction or on behalf of another party must be held in trust, rather than being treated as the recipient's own property. In practice, this means that if a party receives payment, insurance proceeds, or other assets intended for another party, those proceeds must be kept separate from the recipient’s own funds and managed according to the terms of the trust. This clause ensures that the rightful owner’s interests are protected and that the proceeds are not misused or claimed by creditors of the recipient, thereby safeguarding the assets until they are properly distributed.
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Proceeds in Trust. The Debtor shall hold all proceeds in trust, separate and apart from other money, instruments or property, for the benefit of the Secured Party until all amounts owing by the Debtor to the Secured Party have been paid in full.
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Proceeds in Trust. The Grantor shall and shall be deemed to hold all Proceeds as mandatary for the Lender, separate and apart from other money, instruments or property, for the benefit of the Lender until all amounts owing by the Grantor to the Lender have been paid in full;
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Proceeds in Trust. Pending compliance with Clauses 1, 2 and 3 above, to hold the loan proceeds in trust for the Lender.
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Proceeds in Trust. All Proceeds from the sale or other disposition of the Collateral hereunder realized by the Secured Party or any agent on the Debtor's behalf shall be held in trust by the Debtor for the Secured Party.
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Proceeds in Trust. All proceeds received by the Trustee in consequence of the proceedings described in Section 9 above or in any other way under this Deed, shall be held by the Trustee in trust and shall be used by the Trustee toward the following purposes, according to the following descending order: The Trustee shall first repay or retain such amount as to cover the expenses, payments, levies and obligations it has incurred or that were imposed on it or that were ancillary to or arose from the performance of the trust or from any other matter in connection with the terms of this Deed, including the Trustee’s fees; second, the Trustee will use the remainder to pay the Holders the late interest owing to them under the terms of the Debentures and in accordance with the indexation terms thereof, pari passu and ratably to the amount of interest in arrears owing to each, without any priority among Holders; third, the Trustee shall use the remainder to pay the Holders such amounts of the principal owing to them in accordance with their Debentures, pari passu and in accordance with the indexation terms of the Debentures, regardless of whether the time fixed for payment of the principal has arrived, and ratably to the amounts owing to them, without any priority in connection with the date on which each Debenture was issued or in connection with any other matter; any remainder shall be paid to the Company or any person that may come in its place.
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Proceeds in Trust. The Borrower shall and shall be deemed to hold all Proceeds in trust, separate and apart from other money, instruments or property, for the benefit of the Lender until all amounts owing by the Borrower to the Lender have been paid in full;
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Proceeds in Trust. Any Proceeds collected by the Company after notice of termination of this Agreement has been delivered in accordance with Section 2.2 shall be deemed to be held in trust for the benefit of UpGyres without deduction for costs or expenses of any nature. The Company shall forward to UpGyres any Proceeds collected after the date of termination within ten (10) days of the termination of this Agreement.
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Related to Proceeds in Trust

  • Moneys Held in Trust Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.

  • Held in Trust Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

  • Application of Amounts in Trust Accounts (a) For so long as any Notes are outstanding, on each Payment Date, the Indenture Trustee will distribute to the Certificateholders, on a pro rata basis, based on the Percentage Interests thereof, the amounts distributable thereto pursuant to Section 5.06 of the Sale and Servicing Agreement and Section 3.01 of the Indenture. From and after the date on which the Notes of all Classes have been paid in full, the Paying Agent shall distribute to the Certificateholders (i) amounts released to the Trust pursuant to Sections 4.02 and 8.05(b) of the Indenture and Section 5.01(d) of the Sale and Servicing Agreement and (ii) amounts that are distributable to the Certificateholders in accordance with the instructions of the Servicer pursuant to Section 5.06 of the Sale and Servicing Agreement. (b) On each Payment Date, the Owner Trustee shall send to the Certificateholders the statement provided to the Owner Trustee by the Servicer pursuant to Section 5.09 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Trust’s distributions (or allocations of income) to a Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholders in accordance with this Section. The Owner Trustee and Paying Agent (and the Indenture Trustee, to the extent the Indenture Trustee is then making distributions to Certificateholders) are hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders sufficient funds for the payment of any tax that is legally owed by the Trust (but such authorization shall not prevent the Owner Trustee from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to a Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to any distribution (such as any distribution to a Non-U.S. Person), in order to comply with applicable law, the Owner Trustee may, in its sole discretion and without liability, withhold such amounts in accordance with this paragraph (c). In the event that a Certificateholder wishes to apply for a refund of any such withholding tax, the Owner Trustee shall reasonably cooperate with such Certificateholder in making such claim so long as such Certificateholder agrees to reimburse the Owner Trustee for any out-of-pocket expenses incurred in connection therewith.

  • Paying Agent To Hold Assets in Trust The Trustee as Paying Agent shall, and 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 of any Series of Securities or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest or premium, if any, on, such Series of Securities (whether such assets have been distributed to it by the Company or any other obligor on such Series of Securities), and the Company and the Paying Agent shall notify the Trustee in writing of any Default by the Company (or any other obligor on such Series of Securities) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed, and the Trustee may, at any time during the continuance of any payment default with respect to any Series of Securities, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent, the Paying Agent shall have no further liability for such assets.

  • Government Obligations to Be Held in Trust; Other Miscellaneous Provisions Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee -- collectively, for purposes of this Section 1305, the "Trustee") pursuant to Section 1304 in respect of the Securities of such series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities of such series and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of the Securities of such series, of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such money need not be segregated from other funds except to the extent required by law. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities. Anything in this Article Thirteen to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 1304 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant defeasance.