When Distributions Must Be Paid Over. In the event that any payment or distribution of assets of the Company or any Guarantor, whether in cash, property or securities, shall be received by the Trustee or the Holders of Notes at a time when such payment or distribution is prohibited by this Article 10, such payment or distribution shall be segregated from other funds or assets and held in trust for the benefit of the holders of Senior Indebtedness of the Company or such Guarantor, as the case may be, and shall be paid or delivered by the Trustee or such Holders, as the case may be, to the holders of the Senior Indebtedness of the Company or such Guarantor, as the case may be, remaining unpaid or unprovided for or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any of such Senior Indebtedness of the Company or such Guarantor, as the case may be, may have been issued, ratably according to the aggregate amounts remaining unpaid on account of the Senior Indebtedness of the Company or such Guarantor, as the case may be, held or represented by each, for application to the payment of all Senior Indebtedness of the Company or such Guarantor, as the case may be, remaining unpaid, to the extent necessary to pay or to provide for the payment in full in cash of all such Senior Indebtedness after giving effect to any concurrent payment or distribution to the holders of such Senior Indebtedness. With respect to the holders of Senior Indebtedness of the Company or any Guarantor, the Trustee undertakes to perform only such obligations on its part as are specifically set forth in this Article 10, and no implied covenants or obligations with respect to any holders of the Senior Indebtedness of the Company or any Guarantor shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of the Senior Indebtedness of the Company or any Guarantor and shall not be liable to any holders of such Senior Indebtedness if the Trustee shall pay over or distribute to, or on behalf of, Holders or the Company or any other Person, money or assets to which any holders of such Senior Indebtedness are entitled pursuant to this Article 10, except if such payment is made at a time when a Trust Officer has knowledge that the terms of this Article 10 prohibit such payment.
When Distributions Must Be Paid Over. In the event that the Company shall make any payment to the Trustee on account of the principal or interest on the Securities at a time when such payment is prohibited by Section 11.03 or 11.04, such payment shall be held by the Trustee in trust for the benefit of, and shall forthwith be paid over and delivered to, the holders of Senior Indebtedness (pro rata as to each of such holders on the basis of the respective amounts of Senior Indebtedness held by them) or their Representative under the indenture or other agreement (if any) pursuant to which Senior Indebtedness may have been issued, as their respective interests may appear, for application to the payment of all Senior Indebtedness remaining unpaid to the extent necessary to pay all Senior Indebtedness in full in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness. If a distribution is made to Securityholders that because of this Article should not have been made to them, the Securityholders who receive the distribution shall hold it in trust for holders of Senior Indebtedness and pay it over to them as their interests may appear.
When Distributions Must Be Paid Over. If a distribution is made to the Holders of Securities that because of this Article Twelve should not have been made to them, the Holders of Securities who receive the distribution shall hold it in trust for holders of Senior Indebtedness and pay it over to them as their interests may appear.
When Distributions Must Be Paid Over. In the event that the Subordinated Holder Representative or any Subordinated Holder receives any payment of any Subordinated Indebtedness at a time when such payment is prohibited by this Agreement or is to be paid to the Senior Agent or any Senior First Priority Secured Party, such payment shall be held by the Subordinated Holder Representative or such Subordinated Holder, in trust for the benefit of, and shall be paid forthwith over and delivered (together with any necessary endorsements) to, the Senior First Priority Secured Parties (or the Senior Agent), as their respective interests may appear, for application to the payment of the Senior Indebtedness. If any Subordinated Holder or the Subordinated Holder Representative shall fail to make any such endorsement, then each such Person hereby irrevocably authorizes and grants a power of attorney (which is irrevocable and coupled with an interest) to the Senior Agent to make such endorsement.
When Distributions Must Be Paid Over. In the event that the Trustee or any Holder receives any payment of any Note Obligations with respect to the Notes at a time when the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by this Article 13, such payment will be held by the Trustee or such Holder, in trust for the benefit of, and will be paid forthwith over and delivered, upon written request of the Company, to, the holders of the Series A Preferred Stock as their interests may appear under the Certificate of Designations (or as the Company specifies in an Officer’s Certificate to the Trustee), for application to the payment of all Other Redemption Payments remaining unpaid to the extent necessary to pay such Other Redemption Payments in full in accordance with their terms. With respect to the holders of Series A Preferred Stock, the Trustee undertakes to perform only those obligations on the part of the Trustee as are specifically set forth in this Article 13, and no implied covenants or obligations with respect to the holders of the Series A Preferred Stock will be read into this Indenture against the Trustee. The Trustee will not be deemed to owe any fiduciary duty to the holders of the Series A Preferred Stock, and will not be liable to any such holders if the Trustee pays over or distributes to or on behalf of Holders or the Company or any other Person money or assets to which any holders of Series A Preferred Stock are then entitled by virtue of this Article 13, except if such payment is made as a result of the willful misconduct or gross negligence of the Trustee.
When Distributions Must Be Paid Over. In the event that, notwithstanding the other provisions of this Agreement, the Junior Creditors receive any payment or distribution of the Junior Liabilities when such payment or distribution is prohibited by this Section , such payment or distribution shall be held by the Junior Creditors in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to, the holders of Senior Liabilities remaining unpaid or unprovided for or their representative ratably according to aggregate principal amounts remaining unpaid on account of such Senior Liabilities held or represented by each, for application to the payment of all obligations with respect to Senior Liabilities remaining unpaid, to the extent necessary to pay or to provide for the payment of all such Obligations and Post-Commencement Interest and Expense Claims in full in accordance with their terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Liabilities.
When Distributions Must Be Paid Over. If a distribution is ------------------------------------ made to the Company that because of this Article III should not have been made to it, the Company shall hold such payment in trust for the Collateral Agent and the Secured Parties and pay it over to them as their interests may appear.
When Distributions Must Be Paid Over. In the event that the Collateral Trustee or any Subordinated Creditor receives any payment of any Subordinated Indebtedness at a time when such payment is required by this Section 2 to be paid first to the OPH Lead Arrangers for the benefit of the Senior Creditors, such payment shall be held by the Collateral Trustee or such Subordinated Creditor, in trust for the benefit of, and shall be paid forthwith over and delivered, upon proper written request, to the OPH Lead Arrangers, for the benefit of the Senior Creditors, as their respective interests may appear, for application to the payment of all Senior Indebtedness remaining unpaid and required by this Section 2 to be paid before payment of Subordinated Indebtedness, to the extent necessary to pay such amount of Senior Indebtedness in full in accordance with its terms after giving effect to any concurrent payment or distribution to or for the Senior Creditors.
When Distributions Must Be Paid Over. If a distribution is made to the holders of Debt Securities that because of this Article Fourteen should not have been made to them, the holders of Debt Securities who receive the distribution shall hold it in trust for holders of Senior Indebtedness and pay it over to them as their interests may appear.
When Distributions Must Be Paid Over. (a) If the Company or any Subsidiary Guarantor shall make any payment or distribution on account of the Note Indebtedness at a time when such payment is prohibited by this Section 10, then and in such event the holders of the Note Indebtedness shall hold such payment or distribution in trust for the benefit of, and shall pay over and deliver to, the holders of the Senior Indebtedness (pro rata as to each of such holders on the basis of the respective amounts of such Senior Indebtedness held by them) or their Representative, as their respective interests may appear, for application to the payment of all outstanding Senior Indebtedness until all such Senior Indebtedness has been paid in full in cash, after giving effect to all other payments or distributions to, or provisions made for, the holders of Senior Indebtedness.
