Common use of Paying Agent to Hold Money Clause in Contracts

Paying Agent to Hold Money. The Issuer will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium or Additional Amounts, if any, or interest on the Notes, and will notify the Trustee of any Default by the Issuer in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer or a Subsidiary) will have no further liability for the money. If the Parent or a Subsidiary of the Parent acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the Parent or the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), the Trustee shall serve as Paying Agent for the Notes.

Paying Agent to Hold Money. The Issuer will require each Paying Agent other than the Trustee (and the Principal Paying Agent and/or Luxembourg Paying Agent, where the Trustee is acting as Principal Paying Agent and/or Luxembourg Paying Agent) to agree in writing that the Paying Agent will hold for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal ofprincipal, premium or Additional Amountspremium, if any, or interest on the Notes, and will notify the Trustee of any Default default by the Issuer in making any such payment. Money held by a Paying Agent need not be segregated, except as required by law, and in no event shall any Paying Agent be liable for interest on any money received by it hereunder. While any such Default default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer Company or a Subsidiary) will have no further liability for the money. If the Parent Company or a Subsidiary of the Parent acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the Parent or the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally)Issuer, the Trustee shall and the Bank of New York Mellon (Luxembourg) S.A. will serve as Paying Agent Agents for the Notes.

Paying Agent to Hold Money. The Issuer will shall require each Paying Agent other than the Trustee not a party to this Indenture to agree in writing that the such Paying Agent will hold for the benefit of Holders or and the Trustee all money held by the Paying Agent for the payment of principal of, premium or interest and premium, if any, Additional Amounts, if any, or interest on the Notes, and will shall promptly notify the Trustee of any Default by the Issuer in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer Issuer, the Parent Guarantor or a Restricted Subsidiary) will shall have no further liability for the money. If the Issuer, Parent Guarantor or a Restricted Subsidiary of the Parent acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the Parent Guarantor or the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), the Trustee Paying Agent shall serve as Paying Agent an agent of the Trustee for the Notes.

Paying Agent to Hold Money. The Issuer will require each Paying Agent other than the Trustee that is not a party hereto to agree in writing that the such Paying Agent will hold for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium or Additional Amounts, if any, or interest on on, the Notes, and will notify the Trustee of any Default default by the Issuer in making any such payment. While any such Default default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer or a Subsidiary) will have no further liability for the money. If Neither the Parent Issuer nor any Subsidiary or a Subsidiary Affiliate of the Parent acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it Issuer may act as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the Parent or the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), the Trustee shall will serve as Paying Agent for the Notes.

Paying Agent to Hold Money. The Issuer will require each Paying Agent Agent, other than the Trustee and the initial Paying Agent as of the date of this Indenture, to agree in writing that the each Paying Agent will hold hold, for the benefit of Holders or the Trustee Trustee, all money held by the Paying Agent for the payment of principal of, premium or Additional Amounts, if any, or interest on on, the Notes, and will notify the Trustee of any Default default by the Issuer in making any such payment. While any such Default default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer or a SubsidiarySubsidiary of the Issuer) will have no further liability for the money. If the Parent Issuer or a Subsidiary of the Parent Issuer acts as Paying Agent, it will segregate and hold hold, in a separate trust fund for the benefit of the Holders Holders, all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the Parent or the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), the Paying Agent will serve as an agent of the Trustee shall serve as Paying Agent for the Notes.Notes in accordance with Section 7.11. The Issuer shall, no later 38