Common use of Return of Moneys Held by Trustee and Paying Agent Unclaimed for Three Years Clause in Contracts

Return of Moneys Held by Trustee and Paying Agent Unclaimed for Three Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the principal of or interest, if any, on any Security of any series and not applied but remaining unclaimed for three years after the date upon which such principal or interest shall have become due and payable, shall, upon the written request of the Issuer and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Issuer by the Trustee or such paying agent, and any Holder of the Securities of such series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Issuer for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease; provided, however, that the Trustee or such paying agent, before being required to make any such repayment with respect to moneys deposited with it for any payment shall at the expense of the Issuer, mail by first-class mail to Holders of such Securities at their addresses as they shall appear on the Security Register for the Securities of such series, notice that such moneys remain and that, after a date specified therein, which shall not be less than 30 days from the date of such mailing any unclaimed balance of such moneys then remaining will be repaid to the Issuer.

Appears in 3 contracts

Sources: Indenture (CMS Energy Corp), Indenture (CMS Energy Corp), Indenture (Consumers Power Co Financing I)

Return of Moneys Held by Trustee and Paying Agent Unclaimed for Three Years. Any moneys deposited with or paid to the Trustee or any paying agent Paying Agent for the payment of the principal of or interest, if any, interest on any Security of any series and not applied but remaining unclaimed for three years after the date upon which such principal or interest shall have become due and payable, shall, upon the written request of the Issuer and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Issuer by the Trustee or such paying agentPaying Agent, and any Holder of the Securities holder of such series Security shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Issuer for any payment which such Holder holder may be entitled to collect, and all liability of the Trustee or any paying agent Paying Agent with respect to such moneys shall thereupon cease; provided, however, that . In the Trustee or such paying agent, before being required absence of a written request from the Issuer to make any such repayment with respect return unclaimed funds to moneys deposited with it for any payment shall at the expense of the Issuer, mail the Trustee shall from time to time deliver all unclaimed funds to or as directed by first-class mail applicable escheat authorities, as determined by the Trustee in its sole discretion, in accordance with the customary practices and procedures of the Trustee. Any unclaimed funds held by the Trustee pursuant to Holders of such Securities at their addresses as they this Section 9.4 shall appear on the Security Register be held uninvested and without any liability for the Securities of such series, notice that such moneys remain and that, after a date specified therein, which shall not be less than 30 days from the date of such mailing any unclaimed balance of such moneys then remaining will be repaid to the Issuerinterest.

Appears in 3 contracts

Sources: Indenture (Weirton Steel Corp), Indenture (Weirton Steel Corp), Indenture (Weirton Steel Corp)

Return of Moneys Held by Trustee and Paying Agent Unclaimed for Three Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the principal of or interest, if any, interest on any Security of any series and not applied but remaining unclaimed for three years after the date upon which such principal or interest shall have become due and payable, shall, upon the written request of the Issuer and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Issuer by the Trustee for such series or such paying agent, and any the Holder of the Securities Security of such series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Issuer for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease; provided, however, that the Trustee or such paying agent, before being required to make any such repayment with respect to moneys deposited with it for any payment shall repayment, may at the Issuer's expense cause to be mailed to all Holders of the Issuer, mail by first-class mail to Holders Securities of such Securities series at their addresses as they shall appear on set forth in the Security Register for the Securities of such series, register notice that such moneys remain have not been so applied and that, that after a date specified therein, which shall not be less than 30 days from the date of named in such mailing notice any unclaimed balance of such moneys then remaining will be repaid returned to the Issuer.

Appears in 1 contract

Sources: Indenture (J P Morgan Chase & Co)

Return of Moneys Held by Trustee and Paying Agent Unclaimed for Three Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the principal of or interest, if any, on any Security of any series and not applied but remaining unclaimed for three years after the date upon which such principal or interest shall have become due and payable, shall, upon the written request of the Issuer Company and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Issuer Company by the Trustee or such paying agent, and any Holder of the Securities of such series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Issuer Company for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease; provided, however, that the Trustee or such paying agent, before being required to make any such repayment with respect to moneys deposited with it for any payment shall at the expense of the IssuerCompany, mail by first-class mail to Holders of such Securities Debentures at their addresses as they shall appear on the Security Register for the Securities Debentures of such series, notice that such moneys remain and that, after a date specified therein, which shall not be less than 30 days from the date of such mailing any unclaimed balance of such moneys then remaining will be repaid to the IssuerCompany.

Appears in 1 contract

Sources: Indenture (Big Flower Holdings Inc)

Return of Moneys Held by Trustee and Paying Agent Unclaimed for Three Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the principal of or interest, if any, interest on any Security of any series and not applied but remaining unclaimed for three years after the date upon which such principal or interest shall have become due and payable, shall, upon the written request of the Issuer and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Issuer by the Trustee for such series or such paying agent, and any the Holder of the Securities Security of such series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Issuer for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease; provided, however, that the Trustee or such paying agent, before being required to make any such repayment with respect to moneys deposited with it for any payment shall repayment, may at the Issuer's expense cause to be mailed to all Holders of the Issuer, mail by first-class mail to Holders Securities of such Securities series at their addresses as they shall appear on set forth in the Security Register for the Securities of such series, register notice that such moneys remain have not been so applied and that, that after a date specified therein, which shall not be less than 30 days from the date of named in such mailing notice any unclaimed balance of such moneys then remaining will be repaid returned to the Issuer.. ARTICLE ELEVEN

Appears in 1 contract

Sources: Indenture (J P Morgan Chase & Co)