Common use of Paying Agent To Hold Assets in Trust Clause in Contracts

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 34 contracts

Samples: Subordinated Indenture (Universal Travel Group), Senior Indenture (Universal Travel Group), Subordinated Indenture (China-Biotics, Inc)

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Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any Subsidiary of the Company or any Affiliate of any of them their Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 11 contracts

Samples: Indenture (Lin Tv Corp.), Indenture (Lin Television Corp), Indenture (Lin Tv Corp)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Guarantor or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 6 contracts

Samples: Indenture (America Bank Note Holographics Inc), Airxcel Inc, Timber Tech Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall promptly notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Subsidiary or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 4 contracts

Samples: Indenture (Hermes Europe Railtel B V), Indenture (Global Telesystems Europe B V), Hermes Europe Railtel B V

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company Co-Issuers shall require each Paying Agent other than the Trustee or the Company or any Subsidiary of the Company to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, premium or Additional Interest, if any, or interest on on, the Securities Notes (whether such money has assets have been paid distributed to it by the Company Co-Issuers or any other obligor on the Securities) Notes), and shall notify the Trustee of any failure Default by the Company Co-Issuers (or any other obligor on the SecuritiesNotes) in making any such payment. While The Co-Issuers at any such failure continues, the Trustee time may require a Paying Agent to pay distribute all money 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 funds disbursedassets distributed. The Company at any time may require a Paying Agent to pay all money held by it Upon distribution to the Trustee. Upon payment over Trustee of all assets that shall have been delivered by the Co-Issuers to the TrusteePaying Agent, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any a Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the Securities, shall segregate and hold in a separate trust fund for the benefit of the Holders a sum of all money sufficient with monies held by all other it as Paying AgentsAgent. Upon any bankruptcy or reorganization proceedings relating to the Co-Issuers, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to actshall serve as Paying Agent for the Notes.

Appears in 4 contracts

Samples: Supplemental Indenture (Petrolera San Antonio S.A.), Indenture (Navios Maritime Holdings Inc.), Indenture (Navios Maritime Holdings Inc.)

Paying Agent To Hold Assets in Trust. Not later than 11:00 10:00 a.m. (New York City time) on or prior to each due date of the principal and interest on payments in respect of any SecuritiesSecurity, the Company shall deposit with one or more Paying Agents a sum of money in immediately available funds sufficient to pay make such principal and interest payments when so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any Default by the Company in making any such payment. At any time during the continuance of any such Default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money so held in trust. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts shall act as a Paying Agent, it shall, prior to or on each such due date of any principal of or interest on the Securitiesdate, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest amounts so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as provided in this Indenture, and will shall promptly notify the Trustee of its actions action or failure to act.

Appears in 3 contracts

Samples: Indenture (Apogent Technologies Inc), Indenture (Apogent Technologies Inc), Indenture (Apogent Technologies Inc)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and or premium, if any, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor Liquidated Damages, if any, on the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Subsidiary or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or premium, if any, or, interest or Liquidated Damages, if any, so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 3 contracts

Samples: Registration Rights Agreement (West Texas & Lubbock Railroad Co Inc), Carson Products Co, Fedders North America Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any SecuritiesNotes, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities Notes (whether such money has been paid to it by the Company or any other obligor on the SecuritiesNotes, including any Guarantor) and shall notify the Trustee of any failure by the Company (or any other obligor on the SecuritiesNotes, including any Guarantor) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 3 contracts

Samples: Indenture (Lear Corp), Indenture (Lear Corp /De/), Lear Corp /De/

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Subsidiary or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 2 contracts

Samples: Indenture (Comcast Cellular Holdings Inc), Tci Satellite Entertainment Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 2 contracts

Samples: Indenture (Global Telesystems Group Inc), Global Telesystems Group Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on on, the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) Notes, and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Guarantor or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 2 contracts

Samples: Bedding Experts Inc, Tanner Chemicals Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities, including any Guarantor) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities, including any Guarantor) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 2 contracts

Samples: Indenture (Lear Corp Eeds & Interiors), Indenture (Lear Corp Eeds & Interiors)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the 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 and of, or interest on on, the Securities Notes (whether such money has assets have been paid distributed to it by the Company or any other obligor on the Securities) Notes), and the Company and the Paying Agent shall notify the Trustee of any failure Default by the Company (or any other obligor on the SecuritiesNotes) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any Subsidiary of the Company Guarantor or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 2 contracts

Samples: Registration Rights Agreement (Management Solutins Inc/), Management Solutins Inc/

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and or premium, if any, or interest on or Additional Interest (as defined in the Securities (whether such money has been paid to it by the Company or any other obligor Registration Rights Agreement), if any, on the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Subsidiary or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or premium, if any, or, interest or Additional Interest, if any, so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Fedders Corp /De

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) Issuers in making any such payment. While The Issuers at any such failure continues, the Trustee time may require a Paying Agent to pay distribute all money 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 funds disbursedassets distributed. The Company at any time may require a Paying Agent to pay all money held by it Upon distribution to the Trustee. Upon payment over Trustee of all assets that shall have been delivered by the Issuers to the Trustee, the Paying Agent (if other than an Issuer), the Company or a Subsidiary of the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company an Issuer, Holdings, any Guarantor or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Graham Packaging Holdings Co

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee in writing of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Guarantor or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee in writing of its actions action or failure so to act.

Appears in 1 contract

Samples: Indenture (Carrols Corp)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Guarantor or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Securities.

Appears in 1 contract

Samples: Indenture (Roma Fort Worth Inc)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on or prior to each due date of the principal and interest on payments in respect of any SecuritiesNote, the Company shall deposit with one or more Paying Agents a sum of money in immediately available funds or Common Stock sufficient to pay make such principal and interest payments when so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money or Common Stock held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money or Common Stock so paid over to the Trustee. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money and Common Stock held by the Paying Agent for the making of payments in respect of the Notes and shall notify the Trustee of any Default by the Company in making any such payment. At any time during the continuance of any such Default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Common Stock so held in trust. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts shall act as a Paying Agent, it shall, prior to or on each such due date of any principal of or interest on the Securitiesdate, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest amounts so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as provided in this Indenture, and will shall promptly notify the Trustee of its actions action or failure to act.

Appears in 1 contract

Samples: Indenture (Infocrossing Inc)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company Issuers shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) Issuers in making any such payment. While The Issuers at any such failure continues, the Trustee time may require a Paying Agent to pay distribute all money 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 funds disbursedassets distributed. The Company at any time may require a Paying Agent to pay all money held by it Upon distribution to the Trustee. Upon payment over Trustee of all assets that shall have been delivered by the Issuers to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of Issuers), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Issuers or any Subsidiary of the Company or any Affiliate of any of them their Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Aas Capital Corp

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City timea) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) Issuer in making any such payment. While The Issuer at any such failure continues, the Trustee time may require a Paying Agent to pay distribute all money 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 funds disbursedassets distributed. The Company at any time may require a Paying Agent to pay all money held by it Upon distribution to the Trustee. Upon payment over Trustee of all assets that shall have been delivered by the Issuer to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of Issuer), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Issuer or any Subsidiary of the Company or any Affiliate of any of them its Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Getty Images Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent (other than the Trustee Trustee) to agree in writing that the such Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all assets money held by the Paying Agent for the payment of principal of and or premium or interest on the Securities (whether such money has been paid to it by the Company Company, one or more of the Guarantors or any other obligor on the Securities) and the Company and each Paying Agent shall notify the Trustee in writing of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While Money held in trust by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any such failure continuesinterest on any money received by it hereunder. If any Subsidiary of the Company acts as Paying Agent, it shall segregate the Trustee 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 (other than the Trustee) to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trusteecomplying with this Section 2.04, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over delivered to the Trustee. If Upon any bankruptcy, reorganization or similar proceeding with respect to the Company or any Subsidiary of Company, the Company or any Affiliate of any of them acts Trustee shall serve as Paying Agent, it shall, prior to or on each due date of any principal of or interest on Agent for the Securities, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 1 contract

Samples: Indenture (Netscout Systems Inc)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent Agent, other than the Trustee Trustee, to agree in writing that the each Paying Agent shall hold in trust trust, for the benefit of Holders or the Trustee Trustee, all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any of its Subsidiaries or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of principal or interest on any Security and remaining unclaimed for two years after such principal and interest has become due and payable shall be paid to the Company at its request, or, if then held by the Company, shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, unless an applicable abandoned property law designates another person and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

Appears in 1 contract

Samples: Indenture (Gentek Inc)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City timea) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company Issuer shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) Issuer in making any such payment. While The Issuer at any such failure continues, the Trustee time may require a Paying Agent to pay distribute all money 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 funds disbursedassets distributed. The Company at any time may require a Paying Agent to pay all money held by it Upon distribution to the Trustee. Upon payment over Trustee of all assets that shall have been delivered by the Issuer to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of Issuer), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Issuer or any Subsidiary of the Company or any Affiliate of any of them their Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Lin Television Corp

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Paying Agent To Hold Assets in Trust. Not later than 11:00 10:00 a.m. (New York City time) on or prior to each due date of the principal and interest on payments in respect of any SecuritiesSecurity, the Company shall deposit with one or more Paying Agents a sum of money in immediately available funds or Common Stock sufficient to pay make such principal and interest payments when so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money or Common Stock held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money or Common Stock so paid over to the Trustee. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money or Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any Default by the Company in making any such payment. At any time during the continuance of any such Default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money or Common Stock so held in trust. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts shall act as a Paying Agent, it shall, prior to or on each such due date of any principal of or interest on the Securitiesdate, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest amounts so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as provided in this Indenture, and will shall promptly notify the Trustee of its actions action or failure to act.

Appears in 1 contract

Samples: Apogent Technologies Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) the date on each which any payment of principal of, premium, interest or Liquidated Damages, if any, is due date on any of the principal and interest on any SecuritiesNotes, or such earlier day as the Trustee may reasonably request, the Company shall deposit with one or more the Paying Agents money in immediately Agent available funds sufficient to pay make such principal and interest payments so becoming duedue to Holders. The Company shall require each the Paying Agent (if other than the Trustee Trustee) to agree in writing that the such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets (if any) held by the Paying Agent for the payment of principal of of, and interest on and Liquidated Damages, if any, on, the Securities Notes (whether such money has assets have been paid distributed to it by the Company or any other obligor on the Securities) Notes), and shall notify the Trustee in writing of any failure Default by the Company (or any other obligor on the SecuritiesNotes) in making any such payment. While any If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate such failure continues, assets and hold them as a separate trust fund for the Trustee may require a Paying Agent to pay all money held by it to benefit of the Trustee and to account for any funds disbursedHolders or the Trustee. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the TrusteeTrustee of all assets that shall have been delivered by the Company to the Paying Agent, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for such assets. The Trustee shall preserve in as current a form as is reasonably practicable the money so paid over most recent list available to it of the Trusteenames and addresses of the Holders and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee on or any Subsidiary before the third Business Day preceding each Interest Payment Date and at such other times as the Trustee may request in writing a list in such form and as of such date as the Trustee reasonably may require of the Company or any Affiliate names and addresses of any Holders including the aggregate principal amount of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies Notes held by all other Paying Agentseach Holder and the Company shall otherwise comply with TIA Section 312(a). The Trustee, the Registrar and the Company shall provide a current holder list to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to actany Gaming Authority upon demand.

Appears in 1 contract

Samples: Horseshoe Gaming LLC

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any Subsidiary of the Company or any Affiliate of any of them its Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee in writing of its actions action or failure so to act.

Appears in 1 contract

Samples: Manischewitz B Co LLC

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any SecuritiesNotes, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets money held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) Notes and shall promptly notify the Trustee of any failure by the Company (or any other obligor on the SecuritiesNotes) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require require, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 1 contract

Samples: Polyone Corp

Paying Agent To Hold Assets in Trust. Not later than 11:00 10:30 a.m. (New York City time) on each due date of the principal and interest on any SecuritiesNotes, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets money held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) Notes and shall promptly notify the Trustee of any failure by the Company (or any other obligor on the SecuritiesNotes) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require require, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 1 contract

Samples: Pall Corp

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on on, the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) Notes, and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any Subsidiary of the Company Guarantor or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Pasta Group L L C

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on or prior to each due date of the principal and interest on payments in respect of any SecuritiesSecurity, the Company shall deposit with one or more Paying Agents a sum of money in immediately available funds or Common Stock sufficient to pay make such principal and interest payments when so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money or Common Stock or Applicable Stock held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money or Common Stock or Applicable Stock so paid over to the Trustee. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money and Common Stock held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any Default by the Company in making any such payment. At any time during the continuance of any such Default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Common Stock so held in trust. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts shall act as a Paying Agent, it shall, prior to or on each such due date of any principal of or interest on the Securitiesdate, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest amounts so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as provided in this Indenture, and will shall promptly notify the Trustee of its actions action or failure to act.

Appears in 1 contract

Samples: Indenture (Networks Associates Inc/)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on on, the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) Notes, and shall notify the Trustee in writing of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Guarantor or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of of, or interest on on, the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Polymer Group Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent Agent, other than the Trustee Trustee, to agree in writing that the each Paying Agent shall hold in trust trust, for the benefit of Holders or the Trustee Trustee, all assets held by the Paying Agent for the payment of principal of and of, or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on on, the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any Subsidiary of the Company or any Affiliate of any of them its respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act. Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of principal or interest on any Security and remaining unclaimed for two years after such principal and interest has become due and payable shall be paid to the Company at its request, or, if then held by the Company, shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, unless an applicable abandoned property law designates another person and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

Appears in 1 contract

Samples: Indenture (General Chemical Group Inc)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of any payment in respect of the principal and interest on any SecuritiesNotes, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest the amount so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal amounts in respect of and interest on the Securities Notes (whether such money has been paid to it by the Company or any other obligor on the SecuritiesNotes, including any Guarantor) and shall notify the Trustee of any failure by the Company (or any other obligor on the SecuritiesNotes, including any Guarantor) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal amount payable in respect of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest amount so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 1 contract

Samples: Lear Corp /De/

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City London time) on each due date of the principal and interest on any SecuritiesNotes, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities Notes (whether such money has been paid to it by the Company or any other obligor on the SecuritiesNotes, including any Guarantor) and shall notify the Trustee of any failure by the Company (or any other obligor on the SecuritiesNotes, including any Guarantor) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying Agent, it shall, prior to or on each due date of any principal of or interest on the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

Appears in 1 contract

Samples: Indenture (Lear Corp Eeds & Interiors)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of Accreted Value or principal of and or interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) , and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company or any Subsidiary of the Company or any Affiliate of any of them its Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the Accreted Value or principal of or interest on the Securities, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the Accreted Value or principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Trans Resources Inc

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. 2:00 p.m. (New York City time) on or prior to each due date of the principal and interest on payments in respect of any SecuritiesSecurity, the Company shall deposit with one or more Paying Agents a sum of money in immediately available funds or Common Stock (or PIK Loans to the extent permitted herein) sufficient to pay make such principal and interest payments when so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money or Common Stock (or PIK Loans to the extent permitted herein) held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money or Common Stock (or PIK Loans to the extent permitted herein) so paid over to the Trustee. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money and Common Stock (or PIK Loans to the extent permitted herein) held by the Paying Agent for the making of payments in respect of the Securities and shall notify the Trustee of any Default by the Company in making any such payment. At any time during the continuance of any such Default, the Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and Common Stock (or PIK Loans to the extent permitted herein) so held in trust. If the Company or any Subsidiary of the Company or any Affiliate of any of them acts shall act as a Paying Agent, it shall, prior to or on each such due date of any principal of or interest on the Securitiesdate, segregate and hold in a separate trust fund for the benefit of the Holders a sum of money sufficient with monies held by all other Paying Agents, to pay such principal or interest amounts so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as provided in this Indenture, and will shall promptly notify the Trustee of its actions action or failure to act.

Appears in 1 contract

Samples: Indenture (America West Holdings Corp)

Paying Agent To Hold Assets in Trust. Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest on any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds sufficient to pay such principal and interest so becoming due. The Company shall require each Paying Agent other than the Trustee to agree in writing that the each Paying Agent shall hold in trust for the benefit of Holders HOLDERS or the Trustee all assets held by the Paying Agent for the payment of principal of and of, or interest on on, the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) Notes, and shall notify the Trustee of any failure Default by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay distribute all money assets held by it to the TrusteeTrustee 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 payment over distribution to the Trustee, Trustee of all assets that shall have been delivered by the Company to the Paying Agent (if other than the Company or a Subsidiary of Company), the Company) Paying Agent shall have no further liability for the money so paid over to the Trusteesuch assets. If the Company Company, any Guarantor or any Subsidiary of the Company or any Affiliate of any of them their respective Affiliates acts as Paying Agent, it shall, prior to on or on before each due date of any the principal of of, or interest on on, the SecuritiesNotes, segregate and hold in a separate trust fund for the benefit of the Holders Persons entitled thereto a sum of money sufficient with monies held by all other Paying Agents, to pay such the principal or interest so becoming due until such sum of money sums shall be paid to such Holders Persons or otherwise disposed of as herein provided in this Indenture, and will promptly notify the Trustee of its actions action or failure so to act.

Appears in 1 contract

Samples: Polymer Group Inc

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