Common use of Preferential Collection of Claims Against the Company Clause in Contracts

Preferential Collection of Claims Against the Company. The Trustee, in its capacity as Trustee hereunder and in its capacity as Collateral Agent under the Security Documents, shall comply with TIA SS. 311(a), excluding any creditor relationship listed in TIA SS. 311(b). A Trustee who has resigned or been removed shall be subject to TIA SS. 311(a) to the extent indicated therein. The provisions of TIA SS. 311 shall apply to the Company, as obligor of the First Mortgage Notes.

Appears in 1 contract

Sources: Indenture (Ameristeel Corp)

Preferential Collection of Claims Against the Company. The Trustee, in its capacity as Trustee hereunder and in its capacity as Collateral Agent under the Security Documents, shall comply with TIA SSss. 311(a), excluding any creditor relationship listed in TIA SSss. 311(b). A Trustee who has resigned or been removed shall be subject to TIA SSss. 311(a) to the extent indicated therein. The provisions of TIA SS. 311 shall apply to the Company, as obligor of the First Mortgage Notes.58 ARTICLE EIGHT [INTENTIONALLY OMITTED] ARTICLE NINE

Appears in 1 contract

Sources: Indenture (Trans Resources Inc)

Preferential Collection of Claims Against the Company. The Trustee, in its capacity as Trustee hereunder and in its capacity as Collateral Agent under the Security Documents, shall comply with TIA SSss. 311(a), excluding any creditor relationship listed in TIA SSss. 311(b). A Trustee who has resigned or been removed shall be subject to TIA SSss. 311(a) to the extent indicated therein. The provisions of TIA SSss. 311 shall apply to the CompanyCompany and Holdings, as obligor of on the First Mortgage Notes.

Appears in 1 contract

Sources: Indenture (Young America Holdings Inc)