Common use of Limitation on Rights of Trustee as a Creditor Clause in Contracts

Limitation on Rights of Trustee as a Creditor. (a) Subject to the provision of subsection (b) of this Section 8.13, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company or of any other obligor on the Securities of any series within three months prior to a default, as defined in subsection (c) of this Section 8.13, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in special account for the benefit of the Trustee individually, the Holders of the Securities of any series, and the holders of other indenture securities (as defined in paragraph (2) of subsection (c) of this Section 8.13):

Appears in 2 contracts

Samples: Indenture (Equistar Funding Corp), Indenture (Lyondell Petrochemical Co)

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Limitation on Rights of Trustee as a Creditor. (a) Subject to the provision of subsection (b) of this Section 8.13, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company or of any other obligor on the Securities of any series within three four months prior to a default, as defined in subsection (c) of this Section 8.13, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in special account for the benefit of the Trustee individually, the Holders of the Securities of any series, and the holders of other indenture securities (as defined in paragraph (2) of subsection (c) of this Section 8.13):)

Appears in 2 contracts

Samples: Indenture (Atlantic Richfield Co /De), Indenture (Lyondell Chemical Co)

Limitation on Rights of Trustee as a Creditor. (a) Subject to the provision provisions of subsection (b) of this Section 8.13, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company Corporation or of any other obligor on the Securities of any series within three four months prior to a default, default as defined in subsection (c) of this Section 8.13, . or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders holders of the Securities of any serieswith respect to which the Trustee is acting as such, and the holders of other indenture securities (as defined in paragraph (2) of subsection (c) of this Section 8.13):)

Appears in 1 contract

Samples: Constellation Energy Corp

Limitation on Rights of Trustee as a Creditor. (a) Subject to the provision of subsection (b) of this Section 8.13, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company or of any other obligor on the Securities of any series within three four months prior to a default, as defined in subsection (c) of this Section 8.13, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in special account for the benefit of the Trustee individually, the Holders of the Securities of any series, and the holders of other indenture securities (as defined in paragraph (2) of subsection (c) of this Section 8.13):

Appears in 1 contract

Samples: Indenture (Atlantic Richfield Co /De)

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Limitation on Rights of Trustee as a Creditor. (a) --------------------------------------------- Subject to the provision provisions of subsection (b) of this Section 8.13, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company or of any other obligor on the Securities of any series Notes within three months prior to a default, as defined in subsection (c) of this Section 8.13, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in a special account for the benefit of the Trustee individually, the Holders holders of the Securities of any seriesNotes, and the holders of other indenture securities (as defined in paragraph (2) of subsection (c) of this Section 8.13):)

Appears in 1 contract

Samples: Emc Corp

Limitation on Rights of Trustee as a Creditor. (a) Subject to the provision of subsection (b) of this Section 8.13, if the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company or of any other obligor on the Securities of any series within three months prior to a default, as defined in subsection (c) of this Section 8.13, or subsequent to such a default, then, unless and until such default shall be cured, the Trustee shall set apart and hold in special account for the benefit of the Trustee individually, the Holders of the Securities of any series, and the holders of other indenture securities (as defined in paragraph (2) of subsection (c) of or this Section 8.13):

Appears in 1 contract

Samples: Equistar Funding Corp

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