Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 21 contracts
Samples: Indenture (Huntsman CORP), Indenture (Huntsman CORP), Indenture (Huntsman CORP)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 20 contracts
Samples: Indenture (NRG Energy Inc), Purchase Agreement (Wilson Greatbatch Technologies Inc), Purchase Agreement (Uti Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 18 contracts
Samples: Indenture (Kinetic Concepts Inc /Tx/), Standard Commercial Corp, Indenture (Penn National Gaming Inc)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 13 contracts
Samples: Renal Treatment (Davita Inc.), Davita Inc., Merger Agreement (Davita Inc)
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of of, principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuer (or any other obligor on the Notes) in making any such payment. The Company Issuer at any time may require a Paying Agent to promptly distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to promptly distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 9 contracts
Samples: Intercreditor Agreement (Erickson Air-Crane Inc.), Indenture (Nortek Inc), Intercreditor Agreement (Headwaters Inc)
Paying Agent To Hold Assets in Trust. The Trustee as Paying Agent shall, and the Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Article 10, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee in writing of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Defaultdefault with respect to the Notes, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 8 contracts
Samples: Lamar Media Corp/De, Lamar Advertising Co/New, Lamar Media Corp/De
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Articles Ten and Eleven, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee in writing of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 8 contracts
Samples: Supplemental Indenture (PSS Holding Inc), Outsourcing Services (Aerosol Services Co Inc), Info Usa
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Article Four and Article Twelve, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 8 contracts
Samples: Covenants (Encompass Services Corp), Building One Services Corp, Building One Services Corp
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets and/or Secondary Securities held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company Issuer or any other obligor on the NotesSecurities), and that it shall notify the Trustee of any default Default by the Company Issuer (or any other obligor on the NotesSecurities) in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets and/or Secondary Securities held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets and/or Secondary Securities held by it to the Trustee and to account for any assets so distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assetsassets and/or Secondary Securities.
Appears in 8 contracts
Samples: Indenture (Scott Cable Communications Inc), Indenture (Scott Cable Communications Inc), Indenture (Scott Cable Communications Inc)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 7 contracts
Samples: Lien Subordination Agreement (Wickes Inc), Doe Run Resources Corp, Indenture (Doe Run Resources Corp)
Paying Agent To Hold Assets in Trust. The Trustee as Paying Agent shall, and the Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Articles 10 and 11, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee in writing of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Defaultdefault with respect to the Notes, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 7 contracts
Samples: Indenture (Lamar Advertising Co/New), Lamar Advertising Co/New, Lamar Advertising Co/New
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Articles 10 and 11, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee in writing of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 7 contracts
Samples: Indenture (Outdoor Systems Inc), Indenture (Outdoor Systems Inc), Indenture (MWC Acquisition Sub Inc)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may may, and upon direction of a majority of the Holders shall, at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company or any other obligor on the Notes to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 7 contracts
Samples: Indenture (Terex Corp), Indenture (Amida Industries Inc), Indenture (Terex Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. If the Company or any Affiliate of the Company acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund for the benefit of the Holders or the Trustee. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent (if other than the Company, or any Affiliate of the Company) shall have no further liability for such assets.
Appears in 6 contracts
Samples: Indenture (Transtexas Gas Corp), Indenture (Transamerican Refining Corp), Indenture (Transtexas Gas Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Defaultdefault, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 6 contracts
Samples: Indenture (CNH Industrial Capital LLC), Indenture (CNH Industrial Capital LLC), Indenture (CNH Capital LLC)
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, of or interest on, the on Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any Default in any payment Defaultdue on the Notes, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 6 contracts
Samples: Indenture (Hercules Offshore, Inc.), Indenture (Hercules Offshore, Inc.), Indenture (Hercules Offshore, Inc.)
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, on the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 6 contracts
Samples: Indenture (American Greetings Corp), Indenture (American Greetings Corp), Indenture (American Greetings Corp)
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee or the Issuer or any Subsidiary to agree in writing that that, subject to Article Twelve, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuer (or any other obligor on the Notes) in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 5 contracts
Samples: Indenture (Us Concrete Inc), Indenture (Bode Concrete LLC), Indenture (Bode Concrete LLC)
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuer (or any other obligor on the Notes) in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 5 contracts
Samples: Cargo Aircraft (Air Transport Services Group, Inc.), Supplemental Indenture (PGT Innovations, Inc.), PGT Innovations, Inc.
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the such Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes)Securities, and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets. If the Company or any of its Affiliates acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. During the continuance of any Event of Default, the Trustee shall serve as the sole Paying Agent of the Securities.
Appears in 5 contracts
Samples: Call Points Inc, Packaged Ice Inc, Packaged Ice Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal Principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment DefaultDefault by the Company in making any such payment, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 5 contracts
Samples: Indenture (Cellstar Corp), Indenture (Cellstar Corp), Indenture (Cellstar Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall to hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Company, a Subsidiary Guarantor or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 4 contracts
Samples: Registration Rights Agreement (New World Restaurant Group Inc), Article Twelve (Discovery Zone Inc), Registration Rights Agreement (New World Coffee Manhattan Bagel Inc)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 4 contracts
Samples: Pledge Agreement (Coinmach Service Corp), Coinmach Corp, Coinmach Laundry Corp
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default or Event of Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 4 contracts
Samples: Indenture (Del Monte Foods Co), Supplemental Indenture (Del Monte Foods Co), Indenture (Del Monte Foods Co)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee or the Company or any Subsidiary to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 4 contracts
Samples: Indenture (Hi-Crush Inc.), Collateral and Security Documents (Exide Technologies), Poindexter J B & Co Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Senior Notes (whether such assets have been distributed to it by the Company or any other obligor on the Senior Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Senior Notes) in making any such payment. If the Company or its Subsidiary or Affiliate acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company (or other obligor or guarantor on the Senior Notes) to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Delta Financial Corp), Delta Financial Corp, Pledge Agreement (Delta Financial Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Article Four and Article Twelve, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund, subject to Article Four and Article Twelve. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 3 contracts
Samples: Indenture (Metals Usa Inc), Indenture (RSC Duval Inc), Smiths Food & Drug Centers Inc
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee or the Issuer or any Subsidiary to agree in writing that that, subject to Article Ten and Section 11.02, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuer (or any other obligor on the Notes) in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 3 contracts
Samples: Communications & Power Industries Inc, Inverness Medical Innovations Inc, Ply Gem Industries Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 3 contracts
Samples: Indenture (Transportation Technologies Industries Inc), Supplemental Indenture (TNP Enterprises Inc), Indenture (Buslease Inc /New/)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee (or if the Company is acting as Paying Agent, segregate and hold in trust for the benefit of the Holders or the Trustee) all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Brickman Group LTD, Mariner Health Care Inc
Paying Agent To Hold Assets in Trust. The Company shall require ------------------------------------ each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of Accreted Value or principal ofof or interest, if any, Additional Amounts, if any, Liquidated Damages, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Cybernet Internet Services International Inc), Indenture (Cybernet Internet Services International Inc)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. If the Company or an Affiliate of the Company acts as Paying Agent, it shall segregate the money and hold it in a separate trust. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Autotote Corp), Autotote Corp
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any payment Defaultdefault, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Basic Energy Services (Basic Energy Services Inc), Basic Energy Services (Basic Energy Services Inc)
Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuers (or any other obligor on the Notes) in making any such payment. The Company Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuers to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Westmoreland Energy LLC), Indenture (WESTMORELAND COAL Co)
Paying Agent To Hold Assets in Trust. (a) The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest Interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notessuch securities), and shall notify the Trustee of any default by the Company (or any other obligor on the Notessuch securities) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Symetra Financial CORP), Indenture (Symetra Financial CORP)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Articles X and XII, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee in writing of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Supplemental Indenture (Everest One Ipa Inc), Hanger Orthopedic Group Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or premium, if any, or and interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes)Securities, and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company Company, upon written direction to the Paying Agent, at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (International Fast Food Corp), Indenture (International Fast Food Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee or the Company or any Subsidiary to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Pilgrims Pride Corp, Pilgrims Pride Corp
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Covenants (Duane Reade Inc), Duane Reade Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee and the Principal Paying Agent to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, Additional Amounts, if any, Liquidated Damages, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Execution Copy (Preem Holdings Ab Publ), MDCP Acquisitions I
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Garden State Newspapers Inc), Garden State Newspapers Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Article Four and Article Twelve, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Bway Corp), Bway Corp
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Article Four, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund, subject to Article Four. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Color Spot Nurseries Inc), Color Spot Nurseries Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other future obligor on the NotesSecurities), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. If the Company or an Affiliate of the Company acts as Paying Agent, it shall segregate such assets and hold them as a separate trust fund for the benefit of the Holders or the Trustee. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent (if other than the Company or an Affiliate of the Company) shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Transtexas Gas Corp), Indenture (Transtexas Gas Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default by the Company (or any other obligor on the NotesSecurities) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 2 contracts
Samples: Indenture (Capstar Broadcasting Partners Inc), Amcast Radio Sales Inc
Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuers to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Stonemor Partners Lp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee Trustee, the Principal Paying Agent and the Luxembourg Paying Agent to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, Additional Amounts, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) Guarantor in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default by the Company (or any other obligor on the NotesSecurities) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that -- shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting ac- counting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Perry-Judds Inc)
Paying Agent To Hold Assets in Trust. The Company shall ------------------------------------ require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal ofof or interest, if any, Additional Amounts, if any, Liquidated Damages, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall to hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Company, a Subsidiary Guarantor or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Company, a Subsidiary Guarantor or any other obligor on the Notes, to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Registration Rights Agreement (CSS Trade Names Inc)
Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuers (or any other obligor on the Notes) in making any such payment. The Company Issuers at any time may require a Paying Agent to promptly distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to promptly distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuers to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Houghton Mifflin Finance, Inc.
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may may, and upon direction of a majority of the Holders shall, at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: HCC Industries International
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Articles Ten and Eleven, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest and Additional Interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee in writing of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Nationsrent Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall promptly notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee Trustee, the Principal Paying Agent and the Luxembourg Paying Agent to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, Additional Amounts, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) Note Guarantor in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Senior Notes (whether such assets have been distributed to it by the Company or any other obligor on the Senior Notes), and shall notify the Trustee of any default by the Company (or any other obligor on the Senior Notes) in making any such payment. The Company Company, upon written request to a Paying Agent, at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Custody and Security Agreement (Superior Financial Corp /Ar/)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets. SECTION 2.05.
Appears in 1 contract
Samples: Universal Hospital Services Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the such Paying Agent for the payment of principal of, premium, if any, or and interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and such Paying Agent shall promptly notify the Trustee of any default Default by the Company or the Guarantors (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the a Paying Agent and the completion of any accounting required to be made hereunderAgent, the such Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Wickes Inc)
Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent (other than the Trustee Trustee) to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the Notes), and the Issuers and the Paying Agent shall notify the Trustee of any default Default by the Company Issuers (or any other obligor on the Notes) in making any such payment. The Company Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and to account for any assets disbursed disbursed. The Trustee may, and upon direction of a majority of the Trustee may Holders shall, at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuers or any other obligor on the Notes to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company Issuer or any other obligor on the NotesSecurities), and shall notify the Trustee of any default by the Company Issuer (or any other obligor on the NotesSecurities) in making any such payment. The Company Issuer, upon written direction to the Paying Agent, at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Kilovac International Inc
Paying Agent To Hold Assets in Trust. The Company shall ------------------------------------- require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, Additional Amounts, if any, Liquidated Damages, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, on the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent (if other than the Company or an Affiliate of the Company) shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company eircom Funding shall require each Paying Agent other than the Trustee Trustee, the Principal Paying Agent and the Luxembourg Paying Agent to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, Additional Amounts, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (eircom Funding, Holdings or any other obligor on the Notes) Note Guarantor in making any such payment. The Company eircom Funding at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company eircom Funding to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of Holders all cash, Notes, and any other assets evidencing or relating to the Holders or the Trustee all assets foregoing held by the such Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee Holders in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company at any time may require a the Paying Agent to distribute all such assets held by it to the Trustee Holders and account for any such assets disbursed and the Trustee Holders may at any time during the continuance of any payment Default, upon written request to a the Paying Agent, require such the Paying Agent to distribute all such assets held by it to the Trustee Holders and to account for any such assets distributed. Upon distribution to the Trustee Holders of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Indenture Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Indenture Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Indenture Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Indenture Trustee and account for any assets disbursed disbursed, and the Indenture Trustee may at any time during the continuance of any payment Defaultdefault under Article 6, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Indenture Trustee and to account for any assets distributed. Upon distribution to the Indenture Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Transtel S A)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, on the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Royal Oak Mines Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes Debentures (whether such assets have been distributed to it by the Company or any other obligor on the NotesDebentures), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesDebentures) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may may, and upon direction of a majority of the Holders shall, at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company or any other obligor on the Debentures to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Wec Co
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee of any default by the Company Issuer (or any other obligor on the Notes) in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made 47 -38- hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Caterair International Inc /Ii/
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it pursuant hereto to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it pursuant hereto to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (XCL LTD)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee or the Company or any Subsidiary to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets. Section 2.05.
Appears in 1 contract
Samples: Pilgrims Pride Corp
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal Principal of, premium, if any, or interest on, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee of any default Default by the Company (or any other obligor on the NotesSecurities) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment DefaultDefault by the Company in making any such payment, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of Accreted Value or principal of, premium, if any, of or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Universal Compression Inc
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company Co-Issuers shall require each Paying Agent other than the Trustee to agree in writing that that, subject to Article Eight, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Co-Issuers or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Co-Issuers (or any other obligor on the Notes) in making any such payment. The Company Co-Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Co-Issuers to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Universal City Florida Holding Co. I
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes)Securities, and shall notify the Trustee in writing of any default Default by the Company (or any other obligor on the Notes) in making any such payment. To the extent the Company makes such payments directly to the Holders, the Company shall simultaneously notify the Trustee thereof in writing. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time time, but shall be under no obligation to, during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, Additional Amounts, if any, Liquidated Damages, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) Subsidiary Guarantor in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company Casella shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Casella or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Casella (or any other obligor on the Notes) in making any such payment. The Company Casella at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Casella to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Intercreditor Agreement (Casella Waste Systems Inc)
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Senior Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Senior Notes), and the Issuer and the Paying Agent shall notify in writing the Trustee of any default Default by the Company (or any other obligor on the Notes) Issuer in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it pursuant hereto to the Trustee and account for any assets disbursed disbursed, and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it pursuant hereto to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Southwest Royalties Inc)
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Defaultdefault, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, Additional Amounts, if any, Liquidated Damages, if any, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) Issuer in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Avery Berkel Holdings LTD
Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, of or interest on, the Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the Notes), and the Paying Agent shall notify the Trustee of any default Default by the Company Issuers (or any other obligor on the Notes) in making any such payment. The Company Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuers to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
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Samples: Universal Compression Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent (other than the Trustee Trustee) to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Company, the Guarantors or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default by the Company or the Guarantors (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and to account for any assets disbursed disbursed. The Trustee may, and upon direction of a majority of the Trustee may Holders shall, at any time during the continuance of any payment Defaultdefault, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Company, the Guarantors or any other obligor on the Notes to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Express Scripts Inc
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the Trustee of any default by the Company (or any other obligor on the Notes) in making any such payment. The Company Company, upon written request to a Paying Agent, at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunder, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Huntsman Packaging Corp)
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal and premium of, premium, if any, or Accreted Value and interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it in relation to such agreement to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default or Event of Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Del Monte Foods Co
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuer (or any other obligor on the Notes) in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: WESTMORELAND COAL Co
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and the Company and the Paying Agent shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets. SECTION 2.05.
Appears in 1 contract
Samples: Tokheim Corp
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes)Securities, and shall notify the Trustee of any default Default by the Company (or any other obligor on the Notes) in making any such payment. If either the Company or any of its Subsidiaries acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Leslies Poolmart Inc
Paying Agent To Hold Assets in Trust. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that each such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuer or any other obligor on the Notes), and the Issuer and the Paying Agent shall notify in writing the Trustee of any default Default by the Company (or any other obligor on the Notes) Issuer in making any such payment. The Company Issuer at any time may require a Paying Agent to distribute all assets held by it pursuant hereto to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it pursuant hereto to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuer to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Paying Agent To Hold Assets in Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee Trust- ee all assets held by the Paying Agent for the payment of principal of, premium, if any, interest on or interest onAdditional Amounts with respect to, the Notes Securities (whether such assets have been distributed to it by the Company or any other obligor on the NotesSecurities), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent (if other than the Company or an Affiliate of the Company) shall have no further liability for such assets. SECTION 2.5.
Appears in 1 contract
Samples: Indenture (Checkpoint Systems Inc)
Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the on Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the Notes), and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Notes) Default in making any such payment. The Company Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to forthwith distribute all assets held by it to the Trustee and to account for any all assets distributedso held in trust by such Paying Agent together with a complete accounting of such sums. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuers to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Stonemor Partners Lp)
Paying Agent To Hold Assets in Trust. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that that, each Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, premium, if any, or interest on, the Notes (whether such assets have been distributed to it by the Company Issuers or any other obligor on the Notes), and shall notify the Trustee of any default Default by the Company Issuers (or any other obligor on the Notes) in making any such payment. The Company Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company Issuers to the Paying Agent and the completion of any accounting required to be made hereunderAgent, the Paying Agent shall have no further liability for such assets.
Appears in 1 contract
Samples: Indenture (Norcraft Holdings, L.P.)
