Common use of Money for Security Payments to be Held in Trust Clause in Contracts

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.

Appears in 1 contract

Sources: Indenture (Olsten Corp)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.pay

Appears in 1 contract

Sources: Indenture (Nextel Communications Inc)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying AgentAgent for Securities, it will, on or before each due date of the principal of of, premium, if any, or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal of, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.herein

Appears in 1 contract

Sources: Indenture (Noble International LTD)

Money for Security Payments to be Held in Trust. If the Company or any of its Subsidiaries shall at any time act as its own the Paying Agent, it willshall, on or before each due date of the principal of or interest on any of Payment Date, as the Securitiescase may be, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay Holders all sums held by such Paying Agent for payment on the principal or interest so becoming due Securities until such sums shall be paid to such Persons or otherwise disposed of the Holders as herein provided provided, and will shall promptly notify the Trustee of its action or any failure so of the Company to actmake payment on the Securities.

Appears in 1 contract

Sources: Merger Agreement (Genzyme Corp)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of of, interest or interest Additional Payments, if any, on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.the

Appears in 1 contract

Sources: Indenture (Calpine Corp)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or premium, if any, or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal of or premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.

Appears in 1 contract

Sources: Indenture (Laidlaw Environmental Services Inc)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying AgentAgent with respect to any series of Securities, it will, on or before each due date of the principal of or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.(and

Appears in 1 contract

Sources: Junior Subordinated Indenture (Bancorpsouth Inc)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of and premium, if any, or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.to

Appears in 1 contract

Sources: Indenture (Fuisz Technologies LTD)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, will on or before each due date of the principal of and premium, if any, or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.and

Appears in 1 contract

Sources: Indenture (Nexstar Pharmaceuticals Inc)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of of, premium, if any, or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal principal, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and the Company will promptly notify the Trustee of its action or failure so to act.

Appears in 1 contract

Sources: Indenture (Sonus Networks Inc)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of of, premium, if any, or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.principal, premium, if any, or

Appears in 1 contract

Sources: Indenture (Critical Path Inc)

Money for Security Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of the principal of or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.provided

Appears in 1 contract

Sources: Indenture (Medpartners Inc)