Withdrawal of Trust Moneys for Reinvestment Sample Clauses

Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Net Cash Proceeds received by the Trustee pursuant to the provisions of Section 4.16, and the Company intends to reinvest such Net Cash Proceeds in a Related Business Investment (the "Released Trust Moneys"), such Trust Moneys may be withdrawn by the Company and shall be paid by the Trustee to the Company (or as otherwise directed by the Company) upon a Company Order to the Trustee and upon receipt by the Trustee of the following:
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Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Net Cash Proceeds received by the Trustee pursuant to Section 4.15 and the Company or any Guarantor, as applicable, intends to reinvest such Net Cash Proceeds in a manner that would constitute a Permitted Related Acquisition, such Trust Moneys may be withdrawn by the Company or any Guarantor, as applicable, and shall be paid by the Trustee upon a written request by the Company by the proper officer or officers of the Company or any Guarantor, as applicable, to reimburse the Company or any Guarantor, as applicable, for expenditures made or to pay costs incurred by the Company or any Guarantor, as applicable, in connection with such Permitted Related Acquisition, upon receipt by the Trustee of the following:
Sample 1
Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Term Loan Collateral Proceeds received by the Collateral Agent pursuant to the provisions hereof and to the extent the aggregate amount of such Term Loan Collateral Proceeds since the date hereof (when added to the aggregate amount of other Net Proceeds of Term Loan Asset Sales since the date hereof) does not exceed $35,000,000, or to the extent that any Trust Moneys consist of Collateral Proceeds received by the Collateral Agent pursuant to the provisions of Section 1009 of the Indenture, and PAI and PCI Canada, intend to reinvest such Term Loan Collateral Proceeds in PAI or in one or more Restricted Subsidiaries in a Related Business (the "Released Trust Moneys"), such Trust Moneys may be withdrawn by PAI and PCI Canada and shall be paid by the Collateral Agent to PAI and PCI Canada (or as otherwise directed by PAI and PCI Canada) upon a Company Order to the Trustee and the Collateral Agent and upon receipt by the Trustee, the Agent Bank and the Collateral Agent of the following:
Sample 1
Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Collateral Proceeds received by the Collateral Agent pursuant to the provisions hereof and pursuant to the provisions of Section 1009 of the Tranche B Indenture, and the Tranche B Issuer intends to withdraw such Collateral Proceeds to purchase assets as contemplated in clause (vii) of the definition of Asset Sale in the Tranche B Indenture (the "Released Trust Moneys"), such Trust Moneys may be withdrawn by the Tranche B Issuer (provided the Tranche A Obligations shall have been satisfied and performed in full) and shall be applied by the Tranche B Issuer in respect of such purchase and shall be paid by the Collateral Agent to the Tranche B Issuer (or as otherwise directed by the Tranche B Issuer) upon a Company Order (as defined in the Tranche B Indenture) delivered to the Tranche B Trustee and the Collateral Agent and upon receipt by the Tranche B Trustee and the Collateral Agent of the following:
Sample 1
Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Net Proceeds received by the Trustee pursuant to the provisions of Section 4.16, and the Company intends to reinvest such Net Proceeds in a Related Business Investment (the "Released Trust Moneys"), such Trust Moneys may be withdrawn by the Company and shall be paid by the Trustee to the Company (or as otherwise directed by the Company) upon a Company Order to the Trustee and upon receipt by the Trustee of the following: (a) A notice which shall (i) refer to this Section 11.4, (ii) contain all documents referred to below, (iii) describe with particularity the Released Trust Moneys and the Asset Sale from which such Released Trust Moneys were held as Collateral, (iv) describe with particularity the Related Business Investment to be made with respect to the Released Trust Moneys and (v) be accompanied by a counterpart of the instruments proposed to give effect to the release fully executed and acknowledged (if applicable) by all parties thereto other than the Trustee; (b) An Officer's Certificate certifying that (i) the release of the Released Trust Moneys complies with the terms and conditions of Section 4.16, (ii) there is no Default or Event of Default in effect or continuing on the date thereof, (iii) the release of the Released Trust Moneys will not result in a Default or Event of Default hereunder and (iv) all conditions precedent and covenants herein provided for relating to such release and application of the Released Trust Moneys have been complied with; (c) If the Related Business Investment to be made is an investment in Real Property: (i) an instrument or instruments in recordable form sufficient for the Lien of any Mortgage to cover such Real Property which, if the Real Property is a leasehold or easement interest, shall include normal and customary provisions with respect thereto and evidence of the filing of all such financing statements and other instruments as may be necessary to perfect such Liens; (ii) a policy of title insurance (or a commitment to issue title insurance) insuring that the Lien of this Indenture and any Mortgage constitutes a direct and valid and perfected mortgage Lien of the priority contemplated in Section 10.1(a) on such Real Property in an aggregate amount equal to the fair value of the Real Property, together with an Officers' Certificate stating that any specific exceptions to such title insurance are Permitted Liens, together with such endorsements and other opinions a...
Sample 1
Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Net Proceeds received by the Trustee pursuant to the provisions of Section 4.10, and the Company intends to reinvest such Net Proceeds in a Permitted Investment (the "Released Trust Moneys"), such Trust Moneys may be withdrawn by the Company and shall be paid by the Trustee to the Company (or as otherwise directed by the Company) upon the Company's request to the Trustee and upon receipt by the Trustee of the following:
Sample 1
Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Net Cash Proceeds received by the Collateral Agent pursuant to Section 4.13 and the Company or the relevant Guarantor intends to reinvest such Net Cash Proceeds in a manner that would constitute a Permitted Related Acquisition, such Trust Moneys may be withdrawn by the Company or the relevant Guarantor, subject to the Credit Agreement, and shall be paid by the Collateral Agent upon a written request by the Company by the proper officer or officers of the Company to reimburse the Company or the relevant Guarantor for expenditures made or to pay costs incurred by the Company or the relevant Guarantor in connection with such Permitted Related Acquisition, upon receipt by the Collateral Agent of the following:
Sample 1
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Withdrawal of Trust Moneys for Reinvestment. To the extent that any Trust Moneys consist of Term Loan Collateral Proceeds received by the Collateral Agent pursuant to the provisions hereof and to the extent the aggregate amount of such Term Loan Collateral Proceeds since the date hereof (when added to the aggregate amount of other Net Proceeds of Term Loan Assex 00 00 Sales since the date hereof) does not exceed $35,000,000, or to the extent that any Trust Moneys consist of Collateral Proceeds received by the Collateral Agent pursuant to the provisions of Section 1009 of the Indenture, and PAAC intends to reinvest such Term Loan Collateral Proceeds in PAAC or in one or more Restricted Subsidiaries in a Related Business (the "Released Trust Moneys"), such Trust Moneys may be withdrawn by PAAC and shall be paid by the Collateral Agent to PAAC (or as otherwise directed by PAAC) upon a Company Order to the Trustee and the Collateral Agent and upon receipt by the Trustee, the Agent Bank and the Collateral Agent of the following:
Sample 1

Related to Withdrawal of Trust Moneys for Reinvestment

  • SECTION 402. Application of Trust Money Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee.

  • Application of Trust Money The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities.

  • Application of Trust Moneys The Trustee shall hold any U.S. Legal Tender or U.S. Government Obligations deposited with it in the irrevocable trust established pursuant to Section 8.01. The Trustee shall apply the deposited U.S. Legal Tender or the U.S. Government obligations, together with earnings thereon, through the Paying Agent, in accordance with this Indenture and the terms of the irrevocable trust agreement established pursuant to Section 8.01, to the payment of principal of and interest on the Notes. Anything in this Article Eight to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the Company's request any U.S. Legal Tender or U.S. Government Obligations held by it as provided in Section 8.01(d) which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

  • Application of Trust Funds Certain Duties Section 5.01. [Reserved].

  • Investment of Trust Assets Following ratification of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 4% of the aggregate shares of Common Stock issued by the Parent in the mutual-to-stock conversion of the Savings Bank ("Conversion"). The Trustee shall purchase shares of Common Stock in the open market or, in the alternative, shall purchase authorized but unissued shares of the Common Stock from the Parent sufficient to fund the Plan Share Reserve.

  • Payment Over of Proceeds Upon Dissolution, Etc In the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or (b) any liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Company, then and in any such event specified in (a), (b) or (c) above (each such event, if any, herein sometimes referred to as a “Proceeding”) the holders of Senior Debt of the Company shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Debt of the Company, or provision shall be made for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt of the Company, before the Holders of the Securities are entitled to receive any payment or distribution of any kind or character, whether in cash, property or securities (including any payment or distribution which may be payable or deliverable by reason of the payment of any other indebtedness of the Company subordinated to the payment of the Securities, such payment or distribution being hereinafter referred to as a “Junior Subordinated Payment”), on account of principal of (or premium, if any) or interest on the Securities or on account of any purchase or other acquisition of Securities by the Company or any Subsidiary of the Company (all such payments, distributions, purchases and acquisitions, other than the payment or distribution of stock or securities of the Company referred to in the second succeeding paragraph, herein referred to, individually and collectively, as a “Securities Payment”), and to that end the holders of Senior Debt of the Company shall be entitled to receive, for application to the payment thereof, any Securities Payment which may be payable or deliverable in respect of the Securities in any such Proceeding. In the event that, notwithstanding the foregoing provisions of this Section, the Trustee or the Holder of any Security shall have received any Securities Payment before all Senior Debt of the Company is paid in full or payment thereof provided for in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt of the Company, and if such fact shall, at or prior to the time of such Securities Payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such Securities Payment shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the payment of all Senior Debt of the Company remaining unpaid, to the extent necessary to pay all Senior Debt of the Company in full, after giving effect to any concurrent payment or distribution to or for the holders of Senior Debt of the Company. For purposes of this Article only, the words “any payment or distribution of any kind or character, whether in cash, property or securities” shall not be deemed to include a payment or distribution of stock or securities of the Company provided for by a plan of reorganization or readjustment authorized by an order or decree of a court of competent jurisdiction in a reorganization proceeding under any applicable bankruptcy law or of any other corporation provided for by such plan of reorganization or readjustment which stock or securities are subordinated in right of payment to all then outstanding Senior Debt of the Company to substantially the same extent as the Securities are so subordinated as provided in this Article. The consolidation of the Company with, or the merger of the Company into, another Person or the liquidation or dissolution of the Company following the conveyance or other disposition of all or substantially all of its assets to another Person upon the terms and conditions set forth in Article Eight shall not be deemed a Proceeding for the purposes of this Section if the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or other disposition such assets, as the case may be, shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions set forth in Article Eight.

  • VALUATION OF TRUST In addition to each Accounting Date, the Trustee must value the Trust Fund on the following valuation date(s): (Choose (a) or (b))

  • Application of Trust Funds (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date.

  • Collection of Trust Student Loan Payments A. The Servicer shall make reasonable efforts (including all efforts that may be specified under the Higher Education Act or any Guarantee Agreement) to collect all payments called for under the terms and provisions of the Trust Student Loans as and when the same shall become due and shall follow such collection procedures as it follows with respect to similar student loans that it services on behalf of SLM Corporation or any of its Affiliates. The Servicer shall allocate collections with respect to the Trust Student Loans between principal, interest and fees in accordance with Section 2.5 of the Administration Agreement. The Servicer may in its discretion waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Trust Student Loan. The Servicer may, at its option, retain any late payment charges that it collects.

  • Audit of trust accounts Unless the Depositor determines that such an audit is not required, the accounts of the Trust shall be audited not less than annually by independent public accountants designated from time to time by the Depositor and the Trustee and the reports of such accountants shall be furnished upon request to Unit holders. So long as the Depositor is making a secondary market for Units, the Depositor shall bear the cost of such annual audits to the extent such cost exceeds $.50 per 100 Units.

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