Common use of Money for Certificate Payments to Be Held in Trust Clause in Contracts

Money for Certificate Payments to Be Held in Trust. All -------------------------------------------------- moneys deposited with any Paying Agent for the purpose of any payment on Certificates shall be deposited and held in trust for the benefit of the Certificateholders entitled to such payment, subject to the provisions of this Section. Moneys so deposited and held in trust shall constitute a separate trust fund for the benefit of the Certificateholders with respect to which such money was deposited. The Certificate Trustee may at any time, for the purpose of obtaining the satisfaction and discharge of this Trust Agreement or for any other purpose, direct any Paying Agent to pay to the Certificate Trustee all sums held in trust by such Paying Agent, such sums to be held by the Certificate Trustee upon the same trusts as those upon which such sums were held by such Paying Agent; and, upon such payment by any Paying Agent to the Certificate Trustee, such Paying Agent shall be released from all further liability with respect to such money.

Appears in 6 contracts

Samples: Declaration and Agreement (Sce Funding LLC), Declaration and Agreement (Sce Funding LLC), Declaration and Agreement (Pg&e Funding LLC)

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Money for Certificate Payments to Be Held in Trust. (a) All -------------------------------------------------- moneys deposited with any Paying Agent for the purpose of any payment on Certificates of any Class shall be deposited and held in trust for the benefit of the Certificateholders of such Class entitled to such payment, subject to the provisions of this Section. Moneys so deposited and held in trust shall constitute a separate trust fund for the benefit of the Class of Certificateholders with respect to which such money was deposited. The Certificate Trustee may at any time, for the purpose of obtaining the satisfaction and discharge of this Trust Agreement Certificate Indenture or for any other purpose, direct any Paying Agent to pay to the Certificate Trustee all sums held in trust by such Paying Agent, such sums to be held by the Certificate Trustee upon the same trusts as those upon which such sums were held by such Paying Agent; and, upon such payment by any Paying Agent to the Certificate Trustee, such Paying Agent shall be released from all further liability with respect to such money.

Appears in 6 contracts

Samples: Certificate Indenture (Wmeco Funding LLC), Indenture (Bec Funding LLC), Cl&p Funding LLC

Money for Certificate Payments to Be Held in Trust. (a) All -------------------------------------------------- moneys deposited with any Paying Agent for the purpose of any payment on Certificates shall be deposited and held in trust for the benefit of the Certificateholders entitled to such payment, subject to the provisions of this Section. Moneys so deposited and held in trust shall constitute a separate trust fund for the benefit of the Certificateholders with respect to which such money was deposited. The Certificate Trustee may at any time, for the purpose of obtaining the satisfaction and discharge of this Trust Agreement or for any other purpose, direct any Paying Agent to pay to the Certificate Trustee all sums held in trust by such Paying Agent, such sums to be held by the Certificate Trustee upon the same trusts as those upon which such sums were held by such Paying Agent; and, upon such payment by any Paying Agent to the Certificate Trustee, such Paying Agent shall be released from all further liability with respect to such money.

Appears in 3 contracts

Samples: Declaration and Agreement (Sdg&e Funding LLC a De Limited Liability Co), Declaration and Agreement (Pg&e Funding LLC), Declaration and Agreement (Sce Funding LLC)

Money for Certificate Payments to Be Held in Trust. All -------------------------------------------------- moneys deposited with any Paying Agent for the purpose of any payment on Certificates shall be deposited and held in trust for the benefit of the Certificateholders entitled to such payment, subject to the provisions of this SectionSection 7.13. Moneys so deposited and held in trust shall constitute a separate ------------ trust fund for the benefit of the Certificateholders with respect to which such money was deposited. The Certificate Trustee may at any time, for the purpose of obtaining the satisfaction and discharge of this Trust Agreement or for any other purpose, direct any Paying Agent to pay to the Certificate Trustee all sums held in trust by such Paying Agent, such sums to be held by the Certificate Trustee upon the same trusts as those upon which such sums were held by such Paying Agent; and, upon such payment by any Paying Agent to the Certificate Trustee, such Paying Agent shall be released from all further liability with respect to such money.

Appears in 1 contract

Samples: Through Trust Agreement (United Air Lines Inc)

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Money for Certificate Payments to Be Held in Trust. (a) All -------------------------------------------------- moneys deposited with any Paying Agent for the purpose of any payment on Certificates of any Tranche shall be deposited and held in trust for the benefit of the Certificateholders of such Tranche entitled to such payment, subject to the provisions of this SectionSection 6.13. Moneys so deposited and held in trust shall constitute a separate trust fund for the benefit of the Tranche of Certificateholders with respect to which such money was moneys were deposited. The Certificate Trustee may at any time, for the purpose of obtaining the satisfaction and discharge of this Trust Agreement Certificate Indenture or for any other purpose, direct any Paying Agent to pay to the Certificate Trustee all sums held in trust by such Paying Agent, such sums to be held by the Certificate Trustee upon the same trusts as those upon which such sums were held by such Paying Agent; and, upon such payment by any Paying Agent to the Certificate Trustee, such Paying Agent shall be released from all further liability with respect to such money.

Appears in 1 contract

Samples: Section    Indenture (OE Funding LLC)

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