Payments under Indenture or Pursuant to Direct Actions. Notwithstanding any payments made to any Holder of Preferred Securities (and any Owner with respect thereto), pursuant to Section 5.8 of the Indenture or Section 5.14 of this Trust Agreement, the Depositor shall remain obligated to pay principal of or interest on Debentures and the Depositor shall be subrogated to the rights of the Holder (and Owner) of such Preferred Securities with respect to payments on the Preferred Securities to the extent of any payments made by the Depositor to such Holder (and Owner) pursuant to either of such Sections.
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Samples: Trust Agreement (CFC Preferred Trust), Trust Agreement (WSFS Financial Corp), Trust Agreement (WSFS Financial Corp)
Payments under Indenture or Pursuant to Direct Actions. Notwithstanding any payments made to any a Holder of Preferred Capital Securities (and any Owner with respect thereto), ) pursuant to Section 5.8 of the Indenture or Section 5.14 of this Trust Agreement, the Depositor shall remain obligated to pay the principal of or interest on Debentures the Debentures, and the Depositor shall be subrogated to the rights of the Holder (and Owner) of such Preferred Capital Securities with respect to payments on the Preferred Capital Securities to the extent of any payments made by the Depositor to such Holder (and Owner) pursuant to either of such Sections.
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