Property Held in Trust Sample Clauses

Property Held in Trust. All money and securities conveyed to or held by the Trustee at any time pursuant to the terms hereof and of each Supplemental Indenture shall be and hereby are assigned, transferred and set over unto the Trustee in trust for the purposes and under the terms and conditions hereof and of each Supplemental Indenture.
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Property Held in Trust. If (a) any money or other property (other than the Permitted Payments) is received by Subordinated Creditor for application to the Subordinated Debt or (b) any money or other property shall be disbursed to Subordinated Creditor at any time after a Senior Creditor's delivery to Subordinated Creditor of notice of a default or potential default with respect to the Senior Debt and prior to a Senior Creditor's delivery of notice that all defaults and potential defaults have been cured or otherwise waived such Senior Creditor, Subordinated Creditor will hold such money and other property in trust for Senior Creditor and, promptly after receipt, deliver such money and other property to Frost. Notwithstanding the foregoing, including the terms of Section 7, in the event that the disbursement of a Permitted Payment results in the occurrence of a default or event of default under any Senior Debt Document, Subordinated Creditor will hold such money or other property disbursed in such Permitted Payment in trust for Senior Creditor and, promptly following Senior Creditor's request, deliver such money or other property to Frost. No payment or distribution to Senior Creditor pursuant to the provisions of this Subordination Agreement shall entitle Subordinated Creditor to exercise any rights of subrogation in respect thereof until the Senior Debt shall have been indefeasibly paid in full in cash.
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Property Held in Trust. The consigned art and proceeds of any sale thereof shall be held in trust for the benefit of the Lender.
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Property Held in Trust. To the extent that Buyer receive physical possession of any property which is not a Asset hereunder, Buyer agree to hold such property in trust for the owner of such property and to return such property to its owner upon request and proof of ownership from such owner.
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Property Held in Trust. All moneys and securities held by the Trustee at any time pursuant to the terms of this Trust Agreement shall be held by the Trustee in trust for the purposes and under the terms and conditions of this Trust Agreement.
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Property Held in Trust. The Trustee hereby declares that it will hold and disburse all contributions, monies, contracts and other property in trust for the uses and purposes set forth in this Trust Agreement and in accordance with the Plan. Any such contributions to the Trust Fund shall be irrevocable.
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Property Held in Trust. All money and seeurities conveyed to or held by the Trustee, except for amounts held in the Corporation Expense Fund, at any time pursuant to the terms hereof and of each Supplemental Indenture shall be and hereby are assigned, transferred and set over unto the Trustee in trust for the purposes and under the terms and conditions hereof and of each Supplemental Indenture. The Trustee shall hold all money in the Corporation Expense Fund as the agent of the Corporation and shall not disburse amounts therefrom except pursuant to the written instructions of an Authorized Officer of the Corporation.
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Property Held in Trust. All property transferred, pursuant to Section 2.03 of this agreement, to the Memorial Trust Committee (which is provided for hereinafter) as Trustee of the Fund, and all income or gain from such property, shall be held by the Trustee, in trust, and shall be managed, invested and disbursed or distributed as provided in this agreement. Title to all property held in the Fund shall at all times be vested in Westminster Presbyterian Church and Society, subject to the terms and conditions of this agreement. The Fund shall not be used to supplant ordinary stewardship of resources by the Session and members of the Church, nor the congregation’s ongoing financial support of the Church’s operating budget.”
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Property Held in Trust. All moneys and securities conveyed to or held by the Trustee, except for amounts held in the Arbitrage Rebate Fund and the Corporation Expense Fund, at any time pursuant to the terms hereof and of each Supplemental Indenture shall be and hereby are assigned, transferred and set over unto the Trustee in trust for the purposes and under the terms and conditions hereof and of each Supplemental Indenture. The Trustee shall hold all moneys in the Arbitrage Rebate Fund and the Corporation Expense Fund as the agent of the Corporation and shall not disburse amounts therefrom except pursuant to the written instructions of an Authorized Officer of the Corporation.
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Related to Property Held in Trust

  • Money Held in Trust Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

  • Moneys Held in Trust Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.

  • Funds Held in Trust Subject to the provisions of Section 11.06, all funds received by the Trustee, until used or applied as herein provided, shall be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any funds received by it hereunder except such as it may agree with the Company to pay thereon.

  • Held in Trust Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

  • Payments Held in Trust In the event that, notwithstanding anything to the contrary in this Guaranty, Guarantor should receive any funds, payment, claim or distribution which is prohibited by this Guaranty, Guarantor agrees to hold in trust for Lender an amount equal to the amount of all funds, payments, claims or distributions so received, and agrees that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions so received except to pay them promptly to Lender, and Guarantor covenants promptly to pay the same to Lender.

  • Moneys to be Held in Trust Subject to the provisions of Section 12.4, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held in trust for the purpose for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee and any paying agent shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the written order of the Company, signed by the Chairman of the Board of Directors, the Chief Executive Officer, the President, a Managing Director, a Vice President, the Treasurer or an Assistant Treasurer of the Company.

  • Money to Be Held in Trust All Equipment Notes, monies and other property deposited with or held by the Subordination Agent pursuant to this Agreement shall be held in trust for the benefit of the parties entitled to such Equipment Notes, monies and other property. All such Equipment Notes, monies or other property shall be held in the Trust Department of the institution acting as Subordination Agent hereunder.

  • Money Held in Custody Money held by the Agent in custody hereunder need not be segregated from the other funds except to the extent required by law or provided herein. The Agent shall be under no obligation to invest or pay interest on any money received by it hereunder except as otherwise agreed in writing with the Company.

  • Monies to Be Held in Trust All monies received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as may be agreed from time to time by the Company and the Trustee.

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