Common use of Application of Money Clause in Contracts

Application of Money. Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee.

Appears in 4 contracts

Samples: Energy Income & Growth Fund, Energy Income & Growth Fund, Energy Income & Growth Fund

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.