Trust Moneys Clause Samples

Trust Moneys. 12 7.02 Withdrawal of Certain Trust Moneys......................................................................13 7.03 Application of Trust Moneys upon Event of Default.......................................................13 Section 8. Remedies, Etc........................................................................................13

Trust Moneys. To the extent Trust Moneys consist of insurance proceeds or condemnation or other taking awards, any such moneys which may be used to effect a restoration of the affected Collateral shall be permitted to be withdrawn by the Borrower and paid by the Collateral Agent in accordance with the Intercreditor Agreement.

Trust Moneys. Trust Moneys shall be subject to a Lien hereunder and security interest in favor of the Collateral Agent for the equal and ratable benefit of the Secured Parties, shall be held by the Collateral Agent in the Collateral Account for the equal and ratable benefit of the Secured Parties as a part of the Collateral and shall, notwithstanding any provision to the contrary in any Financing Agreement, immediately upon receipt by any Grantor be paid or otherwise transferred, as the case may be, to the Collateral Agent. Unless otherwise stated herein, this Article VIII governs the application of Trust Moneys prior to the occurrence of an Event of Default. Application of Trust Moneys on the occurrence and during the continuance of an Event of Default shall be governed by Article X hereof. The Collateral Agent shall apply Trust Moneys as soon as practicable after receipt as follows: (a) First, to the Collateral Agent in an amount equal to the Collateral Agent's Fees which are unpaid as of the applicable Distribution Date and to any Secured Party which has theretofore advanced or paid any such Collateral Agent's Fees in an amount equal to the amount thereof so advanced or paid by such Secured Party and to reimburse to the Collateral Agent or any Secured Party the amount of any advance made pursuant to Section 6.02 with interest thereon at a rate equal to the higher of the rates borne at such time by the Term Loan Notes, the Tranche A Notes or the Tranche B Notes; (b) Second, provided that no Event of Default shall have occurred and be continuing (i) any such Trust Moneys constituting Insurance Proceeds or Net Awards may be withdrawn by the relevant Grantor to be applied, to effect a Restoration, pursuant to Section 8.02(a), (ii) any such Trust Moneys constituting Insurance Proceeds or Net Awards not withdrawn by the relevant Grantor to effect a Restoration pursuant to Section 8.02(a) shall be applied in accordance with Section 8.02(b), (iii) any other Trust Moneys not included in Section 8.01(b)(i) and Section 8.01(b)(ii), including Collateral Proceeds, Tranche A Term Loan Collateral Proceeds or Tranche A Indenture Collateral Proceeds, shall be applied in accordance with Section 8.03, or (iv) any Trust Moneys constituting Collateral Proceeds (provided that all of the Tranche A Obligations shall have been satisfied and performed in full) may, subject to the limits in clause (vii) of the definition of Asset Sale in the Tranche B Indenture, be withdrawn by the Tranche B I...

Trust Moneys. To the extent Trust Moneys consist of insurance proceeds or condemnation or other taking awards, any such moneys which may be used, pursuant to the terms of the Common Security and Intercreditor Agreement, to effect a restoration of the affected Collateral shall be permitted to be withdrawn by the Company and paid by the Collateral Agent in accordance with the Common Security and Intercreditor Agreement. The Company shall deliver (a) an Officers' Certificate certifying as to expenditures made or costs incurred, the necessity or desirability in the conduct of the Company's business of the repaired, rebuilt, or replaced property, and the Fair Market Value of such property as of the date of the expenditures, (b) an Opinion of Counsel as to the validity and perfection of the Collateral Agent's lien on the repaired or replaced Collateral and (c) an architect's certificate as to the costs of such restoration and compliance with law, all in accordance with the Common Security and Intercreditor Agreement. To the extent Trust Moneys consist of Collateral Proceeds, and the Company intends to reinvest such proceeds in the Company or in one or more Subsidiaries in a Related Business, such Trust Moneys shall be permitted, subject to the terms of the Common Security and Intercreditor Agreement, to be withdrawn by the Company upon delivery to the Trustee and the Collateral Agent of (a) a Company Order regarding such withdrawal, (b) an Officers' Certificate certifying compliance with the Indenture, (c) instruments granting the Collateral Agent first priority Liens, for the benefit of the Trustee (for itself and the Holders), for the Administrative Agent (for itself and the Lenders) and for the New Tranche A Notes Indenture Trustee (for itself and the New Tranche A Note Holders) on the real or personal property interests in which the Company or any Subsidiary have invested, and (d) an Opinion of Counsel as to the instruments governing such Liens and security interests, all in accordance with the Common Security and Intercreditor Agreement. Subject to the terms of the Common Security and Intercreditor Agreement, Trust Moneys shall be permitted to be applied from time to time (x) to the payment of principal, premium, if any, and interest on the Securities, or (y) to the extent otherwise permitted by the Indenture, to redeem or repurchase Securities, including, without limitation, pursuant to a Change of Control Offer or (to the extent such Trust Moneys constitute proceeds fr...

Trust Moneys. 14 7.02 Withdrawal of Certain Trust Moneys................................................................15 7.03 Application of Trust Moneys upon Event of Default.................................................15

Trust Moneys. 28 Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

Trust Moneys. All Trust Moneys shall be held by the Collateral Agent or the Trustee, as the case may be, for the benefit of the Trustee and the holders of Securities as a part of the Collateral in accordance with the provisions of this Indenture and the Intercreditor Agreements and, upon any entry upon or sale or other disposition of the Collateral or any part thereof pursuant to any of the Security Documents, said Trust Moneys shall be applied in accordance with Section 6.10 and the Intercreditor Agreements; but, prior to any such entry, sale or other disposition, all or any part of the Trust Moneys may be withdrawn, and shall be released, paid or applied by the Collateral Agent and the Trustee, from time to time as provided in Sections 12.2 through 12.6, inclusive, and the Intercreditor Agreements.

Trust Moneys. 106 SECTION 12.2.

Trust Moneys. All Trust Moneys shall be held in trust by the Collateral Agent for the benefit of the holders of Term 1 Notes and Term 2 Notes as a part of the Noteholder Collateral in accordance with the provisions of this Agreement and, upon any entry upon or sale or other disposition of the Noteholder Collateral or any part thereof pursuant to any of the Security Documents or the Term 1 Security Documents, said Trust Moneys shall be applied on a pari passu basis among the Term 1 Notes and the Term 2 Notes but, prior to any such entry, sale