Payment Direction. The Trust may by Trust Order, direct a Note Paying Agent to pay to the Indenture Trustee money held in trust by the Note Paying Agent, which money will be held by the Indenture Trustee on the same terms as the Note Paying Agent. On a Note Paying Agent’s payment of money held in trust to the Indenture Trustee, the Note Paying Agent will be released from liability for such amounts.
Appears in 59 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)