Company’s Payments as Trust Funds. All Note Payments and Additional Payments required to be made by the Company under this Participation Agreement and the Note to the Authority, the Trustee or the Registrar and Paying Agent which under the Indenture are required to be applied in payment of or as security for the Bonds, shall be and constitute and are hereby declared to be trust funds, whether held by the Authority, the Trustee, the Registrar and Paying Agent, or any bank or trust company, designated for such purpose and shall continue to be impressed with a trust until such monies are applied in the manner provided in the Indenture.
Appears in 12 contracts
Samples: Participation Agreement (Consolidated Edison Co of New York Inc), Participation Agreement (Consolidated Edison Inc), Participation Agreement (Orange & Rockland Utilities Inc)
