Moneys to be Held in Trust. Subject to the provisions of Section 13.04, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Neither the Trustee nor any paying agent shall be under any liability for interest on any moneys received by it hereunder except such as it may agree in writing with the Corporation to pay thereon. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the written order of the Corporation, signed by an Officer of the Corporation.
Appears in 4 contracts
Samples: Indenture (Baltimore Gas & Electric Co), Baltimore Gas and Electric Company (Atlantic City Electric Co), Consolidation, Merger and Sale (Baltimore Gas & Electric Co)
Moneys to be Held in Trust. Subject to the provisions of Section 13.0412.04, all moneys received by the Trustee or any paying agent Paying Agent shall, until used or applied as herein provided, be held in trust for the purposes purpose for which they were received, but need not be segregated from other funds except to the extent required by law. Neither the The Trustee nor and any paying agent Paying Agent shall be under any no liability for interest on any moneys money received by it hereunder except such as it may agree otherwise agreed in writing with the Corporation to pay thereonCorporation. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the written order of the Corporation, signed by an Officer of the Corporationthereof.
Appears in 3 contracts
Samples: Indenture (Flushing Financial Corp), Indenture (Flushing Financial Corp), Indenture (State Bancorp Inc)
Moneys to be Held in Trust. Subject to the provisions of Section 13.0411.04, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held in trust for the purposes purpose for which they were received, but need not be segregated from other funds except to the extent required by law. Neither the The Trustee nor and any paying agent shall be under any no liability for interest on any moneys money received by it hereunder except such as it may agree otherwise agreed in writing with the Corporation to pay thereonCompany. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the written order of the CorporationCompany, signed by an Officer of the Corporationthereof.
Appears in 3 contracts
Samples: Indenture (Commerce Bancorp Inc /Nj/), Indenture (New York Community Bancorp Inc), Indenture (New York Community Bancorp Inc)
Moneys to be Held in Trust. Subject to the provisions of Section 13.0411.04, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held in trust for the purposes purpose for which they were received, but need not be segregated from other funds except to the extent required by law. Neither the The Trustee nor and any paying agent shall be under any no liability for interest on any moneys money received by it hereunder except such as it may agree otherwise agreed in writing with the Corporation to pay thereonCompany. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the written order of the CorporationCompany, signed by an Officer of the Corporationany Authorized Officer.
Appears in 2 contracts
Samples: Indenture (Bank of America Corp /De/), Indenture (Bank of America Corp /De/)
