Common use of Unclaimed Money; Prescription Clause in Contracts

Unclaimed Money; Prescription. If money deposited with the Trustee or any Paying Agent for the payment of principal, premium (if any) or interest remains unclaimed for two years, the Trustee and such Paying Agent shall, upon written request of the Company, pay such money back to the Company. Following such repayment to the Company, Holders of the Notes entitled to such payment must look to the Company for such payment unless applicable abandoned property law designates another Person and all liability of the Trustee and Paying Agent shall cease. Other than as set forth in this paragraph, this Supplemental Indenture does not provide for any prescription period for the payment of principal, premium (if any) or interest on the Notes.

Appears in 3 contracts

Samples: First Supplemental Indenture (Manitowoc Co Inc), Supplemental Indenture (Manitowoc Co Inc), Fourth Supplemental Indenture (Manitowoc Co Inc)

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Unclaimed Money; Prescription. If money deposited with the Trustee or any Paying Agent for the payment of principal, premium (if any) or interest remains unclaimed for two years, the Trustee and such Paying Agent shall, upon written request of the CompanyIssuer, pay such money back to the CompanyIssuer. Following such repayment to the CompanyIssuer, Holders of the Notes entitled to such payment must look to the Company Issuer for such payment unless applicable abandoned property law designates another Person and all liability of the Trustee and Paying Agent shall cease. Other than as set forth in this paragraph, this Supplemental Indenture does not provide for any prescription period for the payment of principal, premium (if any) or interest on the Notes.

Appears in 1 contract

Samples: Intercreditor Agreement (Manitowoc Co Inc)

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