Common use of Application by Trustee of Amounts Deposited with It Clause in Contracts

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 1301, 1302, 1303 and 1304; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 1306, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 or 1303.

Appears in 11 contracts

Samples: Indenture (Noble Holding International LTD), Indenture (Transocean Sedco Forex Inc), Indenture (Transocean Offshore Inc)

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Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 7 contracts

Samples: Indenture (Hilltop Holdings Inc.), Indenture (Conocophillips Co), Civeo Corp

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Securities of such that series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 6 contracts

Samples: Indenture (Egl Inc), Oceaneering International Inc, Syntroleum Corp

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 1301, 1302, 1303 and 1304; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, . premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 1306, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 or 1303.

Appears in 4 contracts

Samples: Noble Corp, Noble Drilling Corp, Noble Drilling Corp

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 1301, 1302, 1303 and 1304; provided PROVIDED that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 1306, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further PROVIDED FURTHER that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 or 1303. SECTION 1308. SUBORDINATION RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE COMPANY OR HOLDERS OF SENIOR INDEBTEDNESS. No right of any present or future holders of any Senior Indebtedness to enforce subordination provisions contained in this Article Thirteen shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to this Indenture or the Holders of the Securities.

Appears in 3 contracts

Samples: Indenture (Key Energy Services Inc), Satisfaction And (Landrys Seafood Restaurants Inc), Midcoast Energy Resources Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 3 contracts

Samples: Indenture (Cabot Oil & Gas Corp), Global Marine Inc, Lyondell Trust Iii

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article ThirteenArticle. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 13011101, 13021102, 1303 1103 and 13041104; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 13061106, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 1102 or 13031103.

Appears in 2 contracts

Samples: Valero Energy Corp/Tx, Vec Trust Ii

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII of the Indenture shall be for the sole benefit of Holders of the Securities of series Notes for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such seriesNotes, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities Notes shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which which, by the terms of this Indenture Indenture, any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities Notes if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 2 contracts

Samples: Second Supplemental Indenture (Hilltop Holdings Inc.), First Supplemental Indenture (Hilltop Holdings Inc.)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series and any related Guarantees for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such seriesseries and any related Guarantees, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series and any related Guarantees shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any SecuritySecurity and any related Guarantees), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company or the Subsidiary Guarantors, as the case may be, from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the CompanyCompany or the Subsidiary Guarantors, as the case may be, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 2 contracts

Samples: Indenture (LGI Homes-Florida, LLC), Indenture (LGI Homes-Windmill Farms, LLC)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four Thirteen shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article ThirteenFourteen. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) on or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 13011401, 13021402, 1303 1403 and 13041404; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) on or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 13061406, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen Fourteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 1402 or 13031403.

Appears in 2 contracts

Samples: Indenture (Baker Hughes Inc), Lone Star Technologies Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series and any related Guarantees for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Securities of such seriesthat series and any related Guarantees, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series and any related Guarantees shall be subject to the provisions of Sections 130110.1, 130210.2, 1303 10.3 and 130410.4; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any SecuritySecurity and any related Guarantees), the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.6, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that 57 may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company or the Guarantors, as the case may be, from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the CompanyCompany or the Guarantors, as the case may be, prior to the occurrence of any of the contingencies specified in Section 1302 10.2 or 130310.3.

Appears in 1 contract

Samples: Indenture (Mariner Gulf of Mexico LLC)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Securities of such that series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on on, or any Additional Amounts with respect to to, any Securities of such series shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on on, or any Additional Amounts with respect to to, any Security), the Trustee a Responsible Officer or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Indenture (Helix Energy Solutions Group Inc)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series shall be subject to the provisions of Sections 130110.02, 130210.03, 1303 10.04 and 130410.05; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.07, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the CompanyCompany , prior to the occurrence of any of the contingencies specified in Section 1302 10.03 or 130310.04.

Appears in 1 contract

Samples: Shell International Finance B.V.

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities and any related Guarantees of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series and any related Guarantees shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any SecuritySecurity and any related Guarantees), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company or the Subsidiary Guarantors, as the case may be, from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the CompanyCompany or the Subsidiary Guarantors, as the case may be, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Indenture (Cloverdale Park, Inc.)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article ThirteenXI. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series shall be subject to the provisions of Sections 130111.02, 130211.03, 1303 11.04 and 1304; 11.05; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130611.07, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; date; and provided further that nothing contained in this Article Thirteen XI shall prevent the Company or the Guarantor from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the CompanyCompany or the Guarantor, prior to the occurrence of any of the contingencies specified in Section 1302 11.03 or 130311.04.

Appears in 1 contract

Samples: Shell International Finance B.V.

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit deposits of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03, and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Seitel Capital Trust Ii

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four XI shall be for the sole benefit of Holders holders of the Securities Debentures of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities Debentures of such series, shall not be subject to the subordination provisions of this Article ThirteenXIV. Otherwise, any deposit of assets with the Trustee or the Paying Agent paying agent (whether or not in trust) for the payment of principal of, any premium (if any) or interest on or any Additional Amounts with respect to any Securities Debentures shall be subject to the provisions of Sections 130114.01, 130214.02, 1303 14.03 and 130414.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, any premium (if any) or interest on or any Additional Amounts with respect to any SecurityDebenture), a Responsible Officer of the Trustee or such Paying Agent paying agent shall not have received with respect to such assets the written notice provided for in Section 130614.06, then the Trustee or such Paying Agent paying agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen XIV shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities Debentures if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 14.02 or 130314.03.

Appears in 1 contract

Samples: Centex Trust Ii

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Securities 51 57 of such that series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: McDermott International Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities and any related Guarantee of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities and any related Guarantee of any series shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any SecuritySecurity and any related Guarantee), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company or the Subsidiary Guarantor, as the case may be, from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the CompanyCompany or the Subsidiary Guarantor, as the case may be, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Carrizo Oil & Gas Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Securities of such that series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: McDermott International Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series and any related Guarantees for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Securities of such seriesthat series and any related Guarantees, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series and any related Guarantees shall be subject to the provisions of Sections 130110.1, 130210.2, 1303 10.3 and 130410.4; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any SecuritySecurity and any related Guarantees), the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.6, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company or any Guarantors, as the case may be, from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the CompanyCompany or any Guarantors, as the case may be, prior to the occurrence of any of the contingencies specified in Section 1302 10.2 or 130310.3.

Appears in 1 contract

Samples: 234DP Aviation, LLC

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Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections Section 1301, Section 1302, Section 1303 and Section 1304; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 1306, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 or Section 1303. SECTION 1308. SUBORDINATION RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE COMPANY OR HOLDERS OF SENIOR INDEBTEDNESS. No right of any present or future holders of any Senior Indebtedness to enforce subordination provisions contained in this Article Thirteen shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to this Indenture or the Holders of the Securities.

Appears in 1 contract

Samples: Cooper Cameron Corp

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Subordinated Securities of the series for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Subordinated Securities of such that series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Subordinated Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Subordinated Security), the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Subordinated Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Nuveen Investments Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series and any related Guarantee for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such seriesseries and any related Guarantee, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series and any related Guarantee shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any SecuritySecurity and any related Guarantee), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company or the Subsidiary Guarantors, as the case may be, from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the CompanyCompany or the Subsidiary Guarantors, as the case may be, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Indenture (Westlake International CORP)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Indenture (Lennox Industries Inc)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Securities of such that series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing 51 57 contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Petroquest Energy Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Subordinated Securities of the series for the benefit of which such those amounts were deposited, and, to the extent allocated for the payment of Subordinated Securities of such that series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Subordinated Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Subordinated Security), the Trustee or such Paying Agent shall not have received with respect to such those assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such those assets and to apply the same to the purpose for which they were receivedreceived and shall have no liability to the holders of senior indebtedness in connection therewith, and shall not be affected by any notice to the contrary that may be received by it on or after such that date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Subordinated Securities if the first publication of notice of such that redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such that payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Nuveen Investments Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 1301, 1302, 1303 and 1304; provided PROVIDED that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 1306, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further PROVIDED FURTHER that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 or 1303. SECTION 1308. SUBORDINATION RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE COMPANY OR HOLDERS OF SENIOR INDEBTEDNESS. No right of any present or future holders of any Senior Indebtedness to enforce subordination provisions contained in this Article Thirteen shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and 72 otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to this Indenture or the Holders of the Securities.

Appears in 1 contract

Samples: Key Energy Services Inc

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were depositeddeposited and, as applicable, the Trustee, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Phillips 66 Co

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article ThirteenArticle. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 13011101, 13021102, 1303 1103 and 13041104; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 13061106, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 1102 or 13031103.

Appears in 1 contract

Samples: Valero Energy Corp/Tx

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four ARTICLE FOUR shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article ThirteenARTICLE THIRTEEN. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections SECTIONS 1301, 1302, 1303 and 1304; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section SECTION 1306, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen ARTICLE THIRTEEN shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section SECTION 1302 or 1303.

Appears in 1 contract

Samples: Indenture (Grey Wolf Inc)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of the series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article ThirteenXI. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities of any series shall be subject to the provisions of Sections 130111.02, 130211.03, 1303 11.04 and 130411.05; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including including, without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), a Responsible Officer of the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130611.07, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen XI shall prevent the Company or the Guarantor from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the CompanyCompany or the Guarantor, prior to the occurrence of any of the contingencies specified in Section 1302 11.03 or 130311.04.

Appears in 1 contract

Samples: Indenture (Shell International Finance B.V.)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 1301, 1302, 1303 and 1304; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 1306, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 or 1303. SECTION 1308. Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Indebtedness. No right of any present or future holders of any Senior Indebtedness to enforce subordination provisions contained in this Article Thirteen shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to this Indenture or the Holders of the Securities.

Appears in 1 contract

Samples: Indenture (Noble Holding International LTD)

Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the Trustee pursuant to and in accordance with Article Four VIII shall be for the sole benefit of Holders of the Securities of series for the benefit of which such amounts were deposited, and, to the extent allocated for the payment of Securities of such series, shall not be subject to the subordination provisions of this Article Thirteen. X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities shall be subject to the provisions of Sections 130110.01, 130210.02, 1303 10.03 and 130410.04; provided that if prior to two Business Days preceding the date on which by the terms of this Indenture any such assets may become distributable for any purpose (including without limitation, the payment 58 of either principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security), the Trustee or such Paying Agent shall not have received with respect to such assets the written notice provided for in Section 130610.06, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary that may be received by it on or after such date; and provided further that nothing contained in this Article Thirteen X shall prevent the Company from making, or the Trustee from receiving or applying, any payment in connection with the redemption of Securities if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in Section 1302 10.02 or 130310.03.

Appears in 1 contract

Samples: Pogo Producing Co

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