Common use of Government Obligations to be Held in Trust Clause in Contracts

Government Obligations to be Held in Trust. All moneys and U.S. Government Obligations deposited with the Trustee pursuant to Section 14.2 in respect of Notes shall be held in trust and applied by it, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the holders of such Notes, of all sums due and to become due thereon for principal (and premium, if any) and interest, if any, but such money need not be segregated from other funds except to the extent required by law. The Company shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 14.2 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the holders of the Outstanding Notes.

Appears in 4 contracts

Samples: Indenture (MGM Grand Inc), Indenture (MGM Mirage), Indenture (MGM Mirage)

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Government Obligations to be Held in Trust. All moneys and U.S. Government Obligations deposited with the Trustee pursuant to Section 14.2 8.04 in respect of Notes shall be held in trust and applied by it, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the holders Holders of such Notes, of all sums due and to become due thereon for principal (and premium, if any) and interest, if any, but such money need not be segregated from other funds except to the extent required by law. The Company shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 14.2 8.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the holders Holders of the Outstanding Notes.

Appears in 1 contract

Samples: MGM Mirage

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Government Obligations to be Held in Trust. All moneys and U.S. Government Obligations deposited with the Trustee pursuant to Section 14.2 8.04 in respect of Notes Securities shall be held in trust and applied by it, in accordance with the provisions of such Notes Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company any Issuer acting as its own Paying Agent) as the Trustee may determine, to the holders Holders of such NotesSecurities, of all sums due and to become due thereon for principal (and premium, if any) and interest, if any, but such money need not be segregated from other funds except to the extent required by law. The Company Issuers shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 14.2 8.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the holders Holders of the Outstanding NotesSecurities.

Appears in 1 contract

Samples: www.oblible.com

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