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 or any of its Subsidiaries shall at any time act as the Paying Agent, it shall, on or before the Payment Date, as the case may be, segregate and hold in trust for the benefit of the Holders all sums held by such Paying Agent for payment on the Securities until such sums shall be paid to the Holders as herein provided, and shall promptly notify the Trustee of any failure of the Company to make 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 or any of its Subsidiaries shall at any time act as the its own Paying Agent, it shallwill, on or before each due date of the Payment Dateprincipal of or premium, as if any, or interest on any of the case may beSecurities, segregate and hold in trust for the benefit of the Holders all sums held by such Paying Agent for payment on Persons entitled thereto a sum sufficient to pay the Securities principal of or premium, if any, or interest so becoming due until such sums shall be paid to the Holders such Persons or otherwise disposed of as herein provided, provided and shall will promptly notify the Trustee of any its action or failure of the Company so to make payment on the Securitiesact.

Appears in 1 contract

Sources: Indenture (Laidlaw Environmental Services Inc)

Money for Security Payments to be Held in Trust. If the Company or any of its Subsidiaries shall at any time act as the its own Paying AgentAgent with respect to any series of Securities, it shallwill, on or before the Payment Date, as the case may be, segregate and hold in trust for the benefit each due date of the Holders all sums held by such Paying Agent for payment on the Securities until such sums shall be paid to the Holders as herein provided, and shall promptly notify the Trustee principal of any failure of the Company to make payment on the Securities.(and

Appears in 1 contract

Sources: Junior Subordinated Indenture (Bancorpsouth Inc)

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

Appears in 1 contract

Sources: Indenture (Medpartners Inc)

Money for Security Payments to be Held in Trust. If the Company or any of its Subsidiaries shall at any time act as the its own Paying Agent, it shallwill, on or before each due date of the Payment Dateprincipal of (and premium, as if any) or interest on any of the case may beSecurities, segregate and hold in trust for the benefit of the Holders all sums held by such Paying Agent for payment on the Securities until such sums shall be paid Persons entitled thereto a sum sufficient to the Holders as herein provided, and shall promptly notify the Trustee of any failure of the Company to make payment on the Securities.pay

Appears in 1 contract

Sources: Indenture (Nextel Communications Inc)

Money for Security Payments to be Held in Trust. If the Company or any of its Subsidiaries shall at any time act as the its own Paying Agent, it shallwill, on or before the Payment Date, as the case may be, segregate and hold in trust for the benefit each due date of the Holders all sums held by such Paying Agent for payment principal of, interest or Additional Payments, if any, on the Securities until such sums shall be paid to the Holders as herein provided, and shall promptly notify the Trustee any of any failure of the Company to make payment on the Securities.the

Appears in 1 contract

Sources: Indenture (Calpine Corp)

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

Appears in 1 contract

Sources: Indenture (Nexstar Pharmaceuticals Inc)

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

Appears in 1 contract

Sources: Indenture (Olsten Corp)

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

Appears in 1 contract

Sources: Indenture (Fuisz Technologies LTD)

Money for Security Payments to be Held in Trust. If the Company or any of its Subsidiaries shall at any time act as the its own Paying Agent, it shallwill, on or before each due date of the Payment Dateprincipal of, as premium, if any, or interest on any of the case may beSecurities, segregate and hold in trust for the benefit of the Holders all sums held by such Paying Agent for payment on Persons entitled thereto a sum sufficient to pay the Securities until such sums shall be paid to the Holders as herein providedprincipal, and shall promptly notify the Trustee of any failure of the Company to make payment on the Securities.premium, if any, or

Appears in 1 contract

Sources: Indenture (Critical Path Inc)