NOTEHOLDER DISTRIBUTIONS Sample Clauses
The "Noteholder Distributions" clause defines how and when payments or distributions are made to holders of notes under a financial agreement. It typically outlines the order of priority for payments, the timing of distributions, and any conditions that must be met before noteholders receive funds. For example, it may specify that noteholders are paid after certain expenses or senior creditors have been satisfied. The core function of this clause is to ensure transparency and predictability in the allocation of funds, protecting the interests of noteholders and clarifying the payment process.
NOTEHOLDER DISTRIBUTIONS. (a) Each Noteholder as of the related Record Date shall be entitled to distributions payable to the Noteholder on the next succeeding Payment Date by check mailed to such Noteholder at the address for such Noteholder appearing on the Note Register or by wire transfer if such Noteholder provides written instructions to the Indenture Trustee at least ten days prior to such Payment Date.
(b) The Indenture Trustee shall serve as the Paying Agent hereunder and shall make the payments to the Noteholders required hereunder. The Indenture Trustee hereby agrees that all amounts held by it for payment hereunder will be held in trust for the benefit of the Noteholders.
NOTEHOLDER DISTRIBUTIONS. (a) Each Noteholder as of the related Record Date shall be paid on the next succeeding Payment Date by check mailed to such Noteholder at the address for such Noteholder appearing on the Note Register or by wire transfer to the account directed by such Noteholder if such Noteholder provides written instructions to the Trustee at least five Business Days prior to such Payment Date, which instructions may be in the form of a standing order.
(b) The Trustee shall serve as the paying agent hereunder and shall make the payments to the Noteholders required hereunder. The Trustee hereby agrees that all amounts held by it for payment hereunder will be held in a segregated account for the benefit of the Noteholders.
(c) All amounts distributed pursuant to the terms of this Agreement shall be deemed free and clear of the Lien of the Indenture.