Common use of Return of Unclaimed Moneys Held by Trustee and Paying Agent Clause in Contracts

Return of Unclaimed Moneys Held by Trustee and Paying Agent. Any moneys deposited with or paid to the Trustee or any Paying Agent for the payment of the principal of or interest on any Security of any Series and not applied but remaining unclaimed for two years after the date upon which such principal, interest or any Additional Amounts shall have become due and payable, shall, upon the written request of the Company or the Guarantor and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company or the Guarantor, as the case may be, by the Trustee or such Paying Agent for such Series, and the Holder of the Security of such Series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Company or the Guarantor, as the case may be, for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease.

Appears in 7 contracts

Samples: Senior Indenture (Markel Corp), Senior Indenture (Alterra Finance LLC), Senior Indenture (ALTERRA CAPITAL HOLDINGS LTD)

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Return of Unclaimed Moneys Held by Trustee and Paying Agent. Any Anything in this Article Ten to the contrary notwithstanding, any moneys deposited with or paid to the Trustee or any Paying Agent for the payment of the principal of or interest on any Security of any Series or Coupons, if any, appertaining thereto and not applied but remaining unclaimed for two years after the date upon which such principal, principal or interest or any Additional Amounts shall have become due and payable, shall, upon the written request of direction by the Company or the Guarantor and pursuant to a Company Order unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company or the Guarantor, as the case may be, by the Trustee for such Series or such Paying Agent for such SeriesAgent, and the Holder of the Security of such Series or Holders of Coupons appertaining thereto shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Company or the Guarantor, as the case may be, for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease.

Appears in 1 contract

Samples: Lithia Motors Inc

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