Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required. (b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: (1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee. (2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and (3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee. (c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee. (d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 11 contracts
Samples: Indenture (Melco Resorts & Entertainment LTD), Indenture (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Indenture (STUDIO CITY INTERNATIONAL HOLDINGS LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.11 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided, however, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Company to execute any such instrument in the Company’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) To the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle 7.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 7 contracts
Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 hereof and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 6 contracts
Samples: Indenture (Melco Resorts & Entertainment LTD), Indenture (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Indenture (Melco Resorts & Entertainment LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including particularly the law of the relevant state) denying or restricting the right of banking corporations or associations to transact business as trustee in which any such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular act in case of the enforcement thereof on default, or acts are to be performed in the case the Trustee shall be incompetent deems that by reason of any present or unqualified future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to perform such act the Trustee or actshold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this Section are adopted to these ends. In the event such rights, powers, duties and obligations shall be exercised and performed singly by such that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but solely at only to the direction extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction (including particularly the Trustee.
(2relevant state) is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them. No trustee Trustee hereunder shall be personally liable by reason of any act or omission of any other trustee Trustee hereunder; and
(3) The , nor will the act or omission of any Trustee may at hereunder be imputed to any time accept other Trustee. Should any instrument in writing from the resignation of or remove any Company be required by the separate trustee or co-trustee.
(c) Any noticetrustee so appointed by the Trustee for more fully and certainly vesting in and confirming to such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company at the expense of the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within 15 days after a request or other writing given to therefor, the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, empowered as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or an attorney-in-fact with full power for the Company to execute any such instrument in the Company’s name and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its namestead. If In case any separate trustee or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
Appears in 6 contracts
Samples: Indenture (Kansas City Southern), Indenture (Kansas City Southern De Mexico, S.A. De C.V.), Indenture (TFM Sa De Cv)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the right of banking corporations or associations to transact business as Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required Trustee. The following provisions of this Section 7.11 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate trustee or co-Trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-Trustee but only to the extent necessary to enable such separate or co-Trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-Trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer; provided, however, that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-Trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Trustee or successor to such separate or co-Trustee.
(d) Each separate Trustee and co-trustee Trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee Trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No trustee no Trustee hereunder shall be personally liable by reason of any act or omission of any other trustee Trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees Trustees and co-trusteesTrustees, as effectively as if given to each of them. Every instrument appointing any separate trustee Trustee or co-trustee Trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee Trustee or co-trustee Trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee Trustee or co-trustee Trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trusteeTrustee.
Appears in 6 contracts
Samples: Indenture (Invitel Holdings a/S), Indenture (Invitel Holdings a/S), Indenture (Invitel Holdings a/S)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the Notes may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe Notes, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such title to the Notes, or any part hereof, and subject to the other provisions of this Section 7.14, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), ) except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified or it shall be unreasonably burdensome for the Trustee to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Notes or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article Seven. Each separate trustee and co-trustee, upon its acceptance of the trusts conferredappointment, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without until the appointment of a new trustee or successor to such separate or co-trustee.
Appears in 6 contracts
Samples: Indenture (Manitowoc Co Inc), Indenture (Manitowoc Co Inc), Indenture (Manitowoc Foodservice, Inc.)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other provisions law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, at and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any time, for the purpose of meeting any legal requirement present or future law of any jurisdiction it may not exercise any of the powers, rights or otherwise, remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee, provided that unless an Indenture Event of Default shall have the power occurred and may execute and deliver all instruments necessary to appoint one or more Persons to act as be continuing, any such appointment of a co-trustee shall be subject to the consent of the Company, which consent shall not be unreasonably withheld. The following provisions of this Section are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trusteestrustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or separate trustees, of all intended by this Indenture to be exercised by or any part of this Indenture, vested in or conveyed to the Trustee with respect thereto shall be exercisable by and to vest in such Person separate or Persons, in co-trustee but only to the extent necessary to enable such capacity and for the benefit of the Holders, separate or co-trustee to exercise such powers, dutiesrights and remedies, obligationsand only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and trusts as remedies and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee may consider necessary for more fully and certainly vesting in and confirming to him or desirableit such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided, that if an Indenture Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within fifteen (15) days after request therefor, the Trustees shall be empowered as an attorney-in-fact for the Company to execute any such instrument in the Company's name and stead. No In case any separate or co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and no notice to obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Holders of Trustee until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Section. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 6 contracts
Samples: Trust Indenture and Security Agreement (Trinity Industries Inc), Trust Indenture and Security Agreement (Trinity Industries Inc), Trust Indenture and Security Agreement (Trinity Industries Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions terms of this Indenturethe Trust Agreement, at any time, for the purpose of meeting any legal requirement requirements of any jurisdiction or otherwisein which any party of the Trust Property may at the time be located, the Depositor and the Trustee acting jointly shall have the power and may shall execute and deliver all instruments necessary to appoint one or more Persons approved by the Trustee to act as a co-trustee or co-trustees, or separate trusteesjointly with the Trustee, of all or any part of this Indenturethe Trust Property, and to vest in such Person or Persons, in such capacity and for capacity, such title to the benefit Trust Property, or any part thereof, and, subject to the other terms of the Holdersthis Section, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder under the Trust Agreement shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 10.06 and no notice to the Holders Unitholders of the appointment of any a co-trustee or separate trustee co-trustees shall be requiredrequired under Section 10.08.
(b) Every separate trustee and In the case of any appointment of a co-trustee shallpursuant to this Section, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed by the Trustee, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to such Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely trustee at the direction of the Trustee.
(2) No trustee hereunder . The Trustee shall not be personally liable by reason for the acts or omissions of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing appointment any separate trustee or co-trustee shall refer to this Indenture the Trust Agreement and the conditions of this Section 7.12. Article X. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions terms of this Indenturethe Trust Agreement, specifically including every provision of this Indenture the Trust Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may may, at any time time, constitute the Trustee Trustee, its agent or attorney-in-fact fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture the Trust Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 6 contracts
Samples: Trust Agreement (MS Structured Asset Corp), Trust Agreement (MS Structured Asset Corp), Trust Agreement (MS Structured Asset Corp)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including particularly the laws of the State) denying or restricting the right of banking corporations or associations to transact business as Trustee in which any such jurisdiction. It is recognized that in case of litigation under this Indenture or the Agreement, and in particular act in case of the enforcement thereof on Default, or acts are to be performed in case the Trustee shall deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein or therein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be incompetent desirable or unqualified to perform such act necessary in connection therewith, the Trustee may appoint an additional individual or actsinstitution as a separate or Co-Trustee, in which event each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture or the Agreement to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or Co-Trustee, but only to the extent necessary to enable such separate or Co-Trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or Co-Trustee shall run to and be enforceable by either of them. Should any deed, conveyance or instrument in writing from the Issuer be required by the separate or Co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations shall obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove Issuer. In case any separate trustee or coCo-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability ofTrustee, or affording protection or rights (including the rights to compensationa successor, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new successor to such separate or successor trusteeCo-Trustee. Any Co-Trustee appointed by the Trustee pursuant to this Section may be removed by the Trustee, in which case all powers, rights and remedies vested in the Co-Trustee shall again vest in the Trustee as if no such appointment of a Co-Trustee had been made.
Appears in 5 contracts
Samples: Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.10 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdiction of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 5 contracts
Samples: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Ardagh Group S.A.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required to meet the terms trustee. The following provisions of eligibility as a successor trustee under this Section 7.09 and no notice are adopted to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 5 contracts
Samples: Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.10 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 5 contracts
Samples: Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.)
Appointment of Co-Trustee. It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this Section 7.11 are adopted to these ends.
(a) Notwithstanding any other provisions In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this IndentureIndenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, at any timerights and remedies, for and only to the purpose of meeting any legal requirement extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them.
(b) Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided that, if an Event of Default shall have occurred and be continuing and if the Company does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall have be empowered as an attorney-in-fact for the power Company to execute any such instrument in the Company’s name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be requiredtrustee.
(bc) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.accordance with this Section 7.11; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of hereunder except for its own negligent action or remove any separate trustee negligent failure to act or co-trusteeits own willful misconduct.
(cd) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee7.11.
(de) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 5 contracts
Samples: Indenture (Yin Jia Investments LTD), Indenture (Yin Jia Investments LTD), Indenture (Yin Jia Investments LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.10 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 5 contracts
Samples: Second Supplemental Indenture (Carnival PLC), Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Royal Caribbean Cruises LTD)
Appointment of Co-Trustee. The Trustee may, by written notice to the Issuer, appoint anyone to act as an additional trustee (a “Co-Trustee”) jointly with the Trustee:
(a) Notwithstanding if the Trustee considers such appointment to be in the interests of the Holders;
(b) to conform with any other legal requirement, restriction or condition in a jurisdiction in which a particular act is to be performed; or
(c) to obtain a judgment or to enforce a judgment or any provision of this Indenture in any jurisdiction. Subject to the provisions of this Indenture, at the Trustee may confer on any time, for person so appointed such functions as it thinks fit. The Trustee may by written notice to the purpose of meeting any legal requirement of any jurisdiction or otherwiseIssuer and the person so appointed remove such person. At the Trustee’s request, the Issuer will forthwith do all things as may be required to perfect such appointment or removal and it irrevocably appoints the Trustee to be its attorney in its name and on its behalf to do so. The Trustee shall have the power and may execute and deliver all instruments necessary to appoint one not be liable or more Persons to act as a responsible for supervising any such co-trustee or for any act or omission of such co-trusteestrustee provided it has exercised reasonable care in selecting such co-trustee. In the event a Co-Trustee is appointed, or separate trusteesthe rights, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Co-Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or coCo-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed performed, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties duties, and obligations shall be exercised and performed singly by such separate trustee or coCo-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 4 contracts
Samples: Indenture (Enduro SpA), Indenture (Emeco Parts Pty LTD), Indenture (Emeco Parts Pty LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions terms of this IndentureAgreement, at any time, for the purpose of meeting any legal requirement requirements of any jurisdiction or otherwisein which any party of the Trust Property may at the time be located, the Depositor and the Trustee acting jointly shall have the power and may shall execute and deliver all instruments necessary to appoint one or more Persons approved by the Trustee to act as a co-trustee Trustee or co-trusteesTrustees, or separate trusteesjointly with the Trustee, of all or any part of this Indenturethe Trust Property, and to vest in such Person or Persons, in such capacity and for capacity, such title to the benefit Trust Property, or any part thereof, and, subject to the other terms of the Holdersthis Section 8.10, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment within 30 calendar days after the receipt by it of a request so to do, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder Trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee Trustee under Section 7.09 8.06 and no notice to the Holders Certificateholders of the appointment of any a co-trustee Trustee or separate trustee co-Trustees shall be requiredrequired under Section 8.08.
(b) Every separate trustee and In the case of any appointment of a co-trustee shallTrustee pursuant to this Section 8.10, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed by the Trustee, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to such Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely Trustee at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trusteesTrustees, as effectively as if given to each of them. Every instrument appointing appointment any separate trustee or co-trustee Trustee shall refer to this Indenture Agreement and the conditions of this Section 7.12Article VIII. Each separate trustee and co-trusteeTrustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions terms of this IndentureAgreement, specifically including every provision of this Indenture Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may Trustee may, at any time time, constitute the Trustee Trustee, its agent or attorney-in-fact fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture Agreement on its behalf and in its name. If any separate trustee or co-trustee Trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trusteeTrustee.
Appears in 4 contracts
Samples: Trust Agreement (Core Bond Products LLC), Trust Agreement (Core Bond Products LLC), Trust Agreement (Core Bond Products LLC)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.10 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuers be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuers, on request, be executed, acknowledged and delivered by the Issuers; provided that if an Event of Default shall have occurred and be continuing, if the Issuers do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuers to execute any such instrument in the Issuers’ name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 4 contracts
Samples: Secured Indenture (Ardagh Finance Holdings S.A.), Senior Indenture (Ardagh Finance Holdings S.A.), Senior Indenture (Ardagh Finance Holdings S.A.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions terms of this Indenturethe Trust Agreement, at any time, for the purpose of meeting any legal requirement requirements of any jurisdiction or otherwisein which any party of the Trust Property may at the time be located, the Depositor and the Trustee acting jointly shall have the power and may shall execute and deliver all instruments necessary to appoint one or more Persons approved by the Trustee to act as a co-trustee or co-trustees, or separate trusteesjointly with the Trustee, of all or any part of this Indenturethe Trust Property, and to vest in such Person or Persons, in such capacity and for capacity, such title to the benefit Trust Property, or any part thereof, and, subject to the other terms of the Holdersthis Section, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder under the Trust Agreement shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 10.06 and no notice to the Holders Unitholders of the appointment of any a co-trustee or separate trustee co-trustees shall be requiredrequired under Section 10.08.
(b) Every separate trustee and In the case of any appointment of a co-trustee shallpursuant to this Section, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed by the Trustee, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to such Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely trustee at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing appointment any separate trustee or co-trustee shall refer to this Indenture the Trust Agreement and the conditions of this Section 7.12. Article X. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions terms of this Indenturethe Trust Agreement, specifically including every provision of this Indenture the Trust Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may may, at any time time, constitute the Trustee Trustee, its agent or attorney-in-fact fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture the Trust Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 4 contracts
Samples: Trust Agreement (MSDW Structured Asset Corp), Trust Agreement (MSDW Structured Asset Corp), Trust Agreement (MSDW Structured Asset Corp)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the trust may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe trust, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such title to the trust, or any part hereof, and subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 8.09 hereof and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 8.07 hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the trust or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VIII. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 4 contracts
Samples: Indenture (Cencosud S.A.), Indenture (Cencosud S.A.), Indenture (Cencosud S.A.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, The Issuer and the Trustee shall have power to appoint and upon the power and may execute and deliver request of the Trustee the Issuer shall for such purpose join with the Trustee in the execution of all instruments necessary or proper to appoint another corporation or one or more Persons persons approved by the Trustee, and satisfactory to the Company so long as there is no termination of the interest of the Company by virtue of an Event of Default or otherwise, either to act as a co-trustee or co-trustees, or separate trustees, trustees jointly with the Trustee of all or any part of this Indenturethe property subject to the lien hereof, or to act as separate trustee or co-trustee of all or any such property, with such powers as may be provided in the instrument of appointment and to vest in such Person corporation or Personsperson or persons as such separate trustee or co-trustee any property, in such capacity and for the benefit of the Holderstitle, such powers, duties, obligations, rights and trusts as the Trustee may consider right or power deemed necessary or desirable. No In the event that the Issuer shall not have joined in such appointment within fifteen (15) days after the receipt by it of a request so to do, the Trustee alone shall have the power to make such appointment. Should any deed, conveyance or instrument in writing from the Issuer be required by any separate trustee or co-trustee so appointed for more fully and certainly vesting in and confirming to him or separate trustee hereunder shall to it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be required to meet executed, acknowledged and delivered by the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any Issuer. Every such co-trustee or and separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions, namely:
(1) All rightsThe Bonds shall be authenticated and delivered, and all powers, duties duties, obligations and obligations rights conferred or imposed upon the Trustee in respect of the custody of all money and securities pledged or deposited hereunder shall be conferred or imposed upon and exercised or performed exercised, solely by the Trustee and such separate trustee or co-trustee jointly Trustee; and
(it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining 2) The Trustee, at any time by an instrument in such act)writing, except to the extent that under may remove any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument instrument, other than this Indenture, appointing any separate trustee or such co-trustee or separate trustee, shall refer to this Indenture and the conditions of this Section 7.12. Each Article expressed, and upon the acceptance in writing by such separate trustee and or co-trustee, upon its acceptance of the trusts conferredhe, they or it shall be vested with the estates estate or property specified in its instrument of appointmentsuch instrument, either jointly with the Trustee or separately, (except insofar as may be provided thereinlocal law makes it necessary for any separate trustee to act alone), subject to all the trusts, conditions and provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every Any such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time time, by an instrument in writing, constitute the Trustee as his, their or its agent or attorney-in-fact with full power and authority, to the extent not prohibited authorized by law, to do any lawful act under all acts and things and exercise all discretion authorized or in respect permitted by him, them or it, for and on behalf of this Indenture on its behalf him, them or it and in his, their or its name. If In case any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estatesthe estate, properties, rights, remediespowers, trusts, duties and trusts obligations of said separate trustee or co-trustee shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or a successor to such separate trustee or co-trustee.
Appears in 4 contracts
Samples: Trust Indenture (Entergy Louisiana, LLC), Trust Indenture (Entergy Louisiana, LLC), Trust Indenture (Entergy Louisiana, LLC)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for For the purpose of meeting any legal requirement of any jurisdiction in which the Issuer may at the time be located in connection with the enforcement of any right or otherwisethe taking of any action on behalf of the Holders of any Securities of a series issued hereunder, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, hereunder in respect of all or any part such series of this Indenture, Securities and to vest in such Person or Persons, in such capacity and for the benefit of the HoldersHolders of Securities of such series, such title hereunder, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No Each co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to 6.9. The Trustee shall promptly notify the Holders of each applicable series of Securities and the Issuer of the appointment of any a co-trustee or separate trustee shall be requiredunder this Section.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article 6. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If name for the purpose of enforcing any separate trustee rights or co-trustee shall die, become incapable taking any other action on behalf of acting, resign or be removed, all the Holders of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment any series of a new or successor trusteeSecurities issued hereunder.
Appears in 4 contracts
Samples: Indenture (Telefonica Emisiones, S.A.U.), Indenture (Telefonica Emisiones, S.A.U.), Indenture (Telefonica S A)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.10 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Xxxx expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdiction of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 3 contracts
Samples: Indenture (Carnival PLC), Indenture (Carnival PLC), Indenture (Carnival PLC)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or the Notes, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within 15 days after request therefor, the Trustee shall have be empowered as an attorney-in-fact for the power Company to execute any such instrument in the Company’s name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1a) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2b) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article. Each separate trustee and Any co-trustee, upon its acceptance trustee must be entitled to act as trustee under Article 13 of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the TrusteeNegotiable Obligations Law. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. To the extent required by Argentine law or by the CNV, the Trustee shall appoint a representative for the Trustee in Argentina. The Registrar in Argentina must keep a duplicate of the Notes Register in the Spanish language.
Appears in 3 contracts
Samples: Indenture (Edenor), Indenture (Edenor), Indenture (Edenor)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisejurisdiction, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the HoldersHolders of Securities, and subject to the other provisions of this Section 6.12, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 6.7 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 6.8 hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article 6. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Limited Waiver (Elan Corp PLC), Limited Waiver (Elan Corp PLC), Indenture (Elan Corp PLC)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction jurisdiction, including particularly the law of the State of New York, denying or restricting the right of banking corporations or associations to transact business as Trustee in which such jurisdiction. It is recognized that in case of litigation under this Indenture or under any particular act other Notes Escrow Document or acts are to be performed in case the Trustee shall be incompetent deems that by reason of any present or unqualified future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein or therein granted to perform such act the Trustee or actshold title to the properties, in trust, as herein or therein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint (and the Trustee is hereby authorized to so appoint) an additional individual or institution as a separate or co-trustee. The following provisions of this Section 5.13 are adopted to these ends. In the event such rights, powers, duties and obligations shall be exercised and performed singly by such that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vested in such separate or co-trustee but solely at only to the direction of extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the Trustee.
(2) exercise thereof by such separate or co-trustee shall run to and be enforceable by such separate or co-trustee. No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The . Should any instrument in writing be required by the separate trustee or co-trustee so appointed by the Trustee may at for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any time accept and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the resignation of or remove Company. In case any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights a successor to compensationeither, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate trustee or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate trustee or co-trustee.
Appears in 3 contracts
Samples: Indenture (NextWave Wireless LLC), Non Recourse Secured Notes Indenture (NextWave Wireless LLC), Indenture (NextWave Wireless LLC)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other provisions law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, at and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any time, for the purpose of meeting any legal requirement present or future law of any jurisdiction it may not exercise any of the powers, rights or otherwise, remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee, provided that unless an Indenture Event of Default shall have the power occurred and may execute and deliver all instruments necessary to appoint one or more Persons to act as be continuing, any such appointment of a co-trustee shall be subject to the consent of the Company, which consent shall not be unreasonably withheld. The following provisions of this Section are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trusteestrustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or separate trustees, of all intended by this Indenture to be exercised by or any part of this Indenture, vested in or conveyed to the Trustee with respect thereto shall be exercisable by and to vest in such Person separate or Persons, in co-trustee but only to the extent necessary to enable such capacity and for the benefit of the Holders, separate or co-trustee to exercise such powers, dutiesrights and remedies, obligationsand only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and trusts as remedies and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee may consider necessary for more fully and certainly vesting in and confirming to him or desirableit such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided, that if an Indenture Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within fifteen (15) days after request therfor, the Trustees shall be empowered as an attorney-in-fact for the Company to execute any such instrument in the Company's name and stead. No In case any separate or co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and no notice to obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Holders of Trustee until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Section. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 3 contracts
Samples: Trust Indenture and Security Agreement (Trinity Industries Inc), Trust Indenture and Security Agreement (Trinity Industries Inc), Trust Indenture and Security Agreement (Trinity Industries Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.11 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuers be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuers; provided, however, that if an Event of Default shall have occurred and be continuing, if the Issuers do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuers to execute any such instrument in each Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) To the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle 7.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including the law of the State of New York) denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that, in case of litigation under this Indenture, and in particular in the case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any action which any particular may be desirable or necessary in connection therewith, it may be necessary that an additional individual or institution act as a separate or acts are to be performed Co-Trustee. In the event that the Trustee shall appoint an additional individual or institution as a separate or Co-Trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be incompetent exercised by or unqualified vested in or conveyed to perform the Trustee with respect thereto shall be exercisable by and vest in such act separate or actsCo-Trustee, but only to the extent necessary to enable any separate or such separate or Co-Trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by any separate or such separate or Co-Trustee shall run to and be enforceable by either of them. Should any instrument in which event writing from the Company be required by the separate or Co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such estates, property, rights, powers, duties trusts, duties, and obligations shall obligations, any and all such instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such separate trustee or cothe Company. In case the Co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject a successor to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, either shall die or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign resign, or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of any separate or such separate or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment by the Trustee of a successor to any separate or such separate or Co-Trustee or a new separate or successor trusteeCo-Trustee. Any separate or Co- Trustee appointed by the Trustee pursuant to this section may be removed by the Trustee , in which case all powers, rights and remedies vested in the separate or Co-Trustee shall again vest in the Trustee as if no such appointment as a separate or Co-Trustee had been made.
Appears in 3 contracts
Samples: Indenture (Cincinnati Bell Inc), Indenture (Cincinnati Bell Inc), Indenture (Cincinnati Bell Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions terms of this IndentureAgreement, at any time, for the purpose of meeting any legal requirement requirements of any jurisdiction or otherwisein which any party of the Trust Property may at the time be located, the Depositor and the Trustee acting jointly shall have the power and may shall execute and deliver all instruments necessary to appoint one or more Persons approved by the Trustee to act as a co-trustee Trustee or co-trusteesTrustees, or separate trusteesjointly with the Trustee, of all or any part of this Indenturethe Trust Property, and to vest in such Person or Persons, in such capacity and for capacity, such title to the benefit Trust Property, or any part thereof, and, subject to the other terms of the Holdersthis Section 8.10, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment within 30 calendar days after the receipt by it of a request so to do, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder Trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee Trustee under Section 7.09 8.06, and no notice to the Holders Certificateholders of the appointment of any a co-trustee Trustee or separate trustee co-Trustees shall be requiredrequired under Section 8.08.
(b) Every separate trustee and In the case of any appointment of a co-trustee shallTrustee pursuant to this Section 8.10, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed by the Trustee, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to such Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely Trustee at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trusteesTrustees, as effectively as if given to each of them. Every instrument appointing appointment any separate trustee or co-trustee Trustee shall refer to this Indenture Agreement and the conditions of this Section 7.12Article VIII. Each separate trustee and co-trusteeTrustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions terms of this IndentureAgreement, specifically including every provision of this Indenture Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may Trustee may, at any time time, constitute the Trustee Trustee, its agent or attorney-in-fact fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture Agreement on its behalf and in its name. If any separate trustee or co-trustee Trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trusteeTrustee.
(e) No Trustee hereunder shall be personally liable by reason of any act or omission of any other Trustee hereunder.
Appears in 3 contracts
Samples: Trust Agreement (Incapital Trust Products II LLC), Trust Agreement (Incapital Trust Products LLC), Trust Agreement (Incapital Trust Products LLC)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of in this Indenture, at any time, solely for the purpose of meeting any the legal requirement requirements of any jurisdiction or otherwisejurisdiction, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a separate trustee or trustees or as co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for subject to the benefit other provisions of the Holdersthis Indenture, such powers, duties, obligations, obligations and rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 this Indenture and no notice to the Holders of Notes of the appointment of any a separate trustee or co-trustee or separate trustee shall be requiredrequired under this Indenture.
(b) Every separate trustee and or co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and or co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and or co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided thereinTrustee, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee or its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Indenture (Homex Development Corp.), Indenture (Homex Development Corp.), Indenture (Homex Development Corp.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the Collateral may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe Collateral, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such title to the Collateral, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 7.9 (Eligibility) and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 7.9 (Eligibility) hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1A) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Collateral or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2B) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3C) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Indenture (CEDC Finance Corp LLC), Indenture (CEDC Finance Corp LLC), Indenture (CEDC Finance Corp LLC)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement this Indenture that there shall be no violation of any jurisdiction law of any jurisdiction, including particularly the law of the State of New York, denying or otherwise, restricting the right of banking corporations or associations to transact business as Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and to vest in such Person or Persons, particular in such capacity and for the benefit case of the Holdersenforcement on Default, such powers, duties, obligations, rights and trusts as or in case the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment deems that by reason of any co-trustee present or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any future law of any jurisdiction in which it may not exercise any particular act of the powers, rights or acts are remedies herein granted to be performed the Trustee shall be incompetent or unqualified hold title to perform such act or actsthe properties, in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate or co-trustee. The following provisions of this Section 5.14 are adopted to these ends. In the event such rights, powers, duties and obligations shall be exercised and performed singly by such that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vested in such separate or co-trustee but solely at only to the direction of extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the Trustee.
(2) exercise thereof by such separate or co-trustee shall run to and be enforceable by such separate or co-trustee. No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The . Should any instrument in writing be required by the separate trustee or co-trustee so appointed by the Trustee may at for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any time accept and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the resignation of or remove Company. In case any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights a successor to compensationeither, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate trustee or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate trustee or co-trustee.
Appears in 3 contracts
Samples: Indenture (Arch Wireless Inc), Indenture (Arch Wireless Inc), Indenture (Arch Wireless Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any timefollowing the occurrence of, for and during the purpose continuation of, an Event of meeting any legal requirement Default, hereunder, if the Trustee reasonably believes that such action is required by law, rule or regulation of any the jurisdiction of incorporation of the Company or otherwisethe Guarantor or the jurisdiction in which the Company’s or Guarantor’s principal place of business is located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trusteestrustees hereunder, or separate trusteestrustee or separate trustees hereunder, of all in each case exclusively in such jurisdiction or any part of this Indenturejurisdictions, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such title hereunder, or any part hereof, in each case exclusively in such jurisdiction or jurisdictions, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts in such jurisdiction or jurisdictions as the Trustee may reasonably consider necessary or desirable. No Each co-trustee or and separate trustee hereunder shall be required authorized under applicable law to meet the terms of eligibility act as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or a separate trustee, as the case may be, and shall each have a combined capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least US$25,000,000. If at any time a co-trustee or a separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are cease to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, eligible in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested accordance with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this IndentureSection, specifically including every provision of this Indenture relating to it shall resign immediately in the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement manner and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trusteeeffect specified in this Section.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Subordinated Debt Indenture (Allianz Finance III B.V.), Subordinated Debt Indenture (Allianz Finance III B.V.), Senior Indenture (Allianz Finance III B.V.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.12 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of The Netherlands, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle 7.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 3 contracts
Samples: Indenture (Digicel Group LTD), Indenture (Digicel Group LTD), Indenture (Digicel Group LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the HoldersSecurityholders, subject to the other provisions of this Section, such powers, duties, obligations, obligations and rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 7.07 hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article 7. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Indenture (Fibria Celulose S.A.), Indenture (Fibria Celulose S.A.), Indenture (Votorantim Pulp & Paper Inc)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection are adopted to these ends.
(b) In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Republic be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Republic; provided, that if an Event of Default shall have occurred and be continuing, if the Republic does not execute any such instrument within fifteen (15) days after request therefor, the Trustee Trustees shall have be empowered as an attorney-in-fact for the power Republic to execute any such instrument in the Republic’s name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be requiredtrustee.
(bd) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, i. all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2) ii. No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeSection.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 3 contracts
Samples: Indenture (Republic of Colombia), First Supplemental Indenture (Republic of Colombia), First Supplemental Indenture (Republic of Chile)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.10 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Xxxx expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 3 contracts
Samples: Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of a Person to transact business as trustee in such jurisdiction. It is recog- nized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connec- tion therewith, it may be necessary that the Trustee appoint a Person as a separate or co-trustee. The fol- lowing provisions of this IndentureSection 7.10 are adopted to these ends. In the event that the Trustee appoints an additional Person as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien ex- pressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with re- spect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent neces- sary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco- trustee shall run to and be enforceable by either of them. So long no Event of Default shall have occurred and be continuing, any such appointment shall be pursuant to such terms and conditions as are agreed with the Issuer. Should any instrument in writing from the Issuer be required by the separate or co-trustee so ap- pointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be execut- ed, acknowledged and delivered by the Issuer; provided, that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall have be empowered as an attorney-in-fact for the power Issuer to execute any such instru- ment in the Issuer’s name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1a) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2b) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument in- strument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article 7. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-in- fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become be- come incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. Notwithstanding anything contained herein to the contrary, the right of the Trustee to perform any discretionary act enumerated herein or in the Notes (including the right to consent to or approve of any action or document which requires its consent or approval and the right to waive any provision of, or con- sent to any change or amendment to, any of this Indenture or the Notes) shall not be construed as giving rise to any expressed or implied duty owed by the Trustee, and the Trustee shall not be answerable in connection with any of the foregoing for, or have any liability whatsoever as a result of, (i) its refusal to perform, consent or approve of such discretionary acts without the prior consent or direction of the appli- cable percentage of the Holders that would be required if such consent or direction was obtained under this Indenture or (ii) its performance of any such discretionary act (except for any gross negligence or willful misconduct in the performance of such acts).
Appears in 3 contracts
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredtrustee.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuers be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuers, on request, be executed, acknowledged and delivered by the Issuers; provided that if an Event of Default shall have occurred and be continuing, if the Issuers do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuers to execute any such instrument in the Issuers’ name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 3 contracts
Samples: Indenture (Ardagh Group S.A.), Indenture (Ardagh Group S.A.), Indenture (Ardagh Group S.A.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, security trustee in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee or Security Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or PersonsSecurity Trustee or hold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary or desirable. No Security Trustee appoint an individual or institution as a separate or co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the trustee. The following provisions and conditions:of this Section are adopted to these ends.
(1) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee or Security Trustee, as applicable, shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee or Security Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee or Security Trustee, as applicable, as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee or Security Trustee, as applicable, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the Collateral may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe Collateral, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such title to the Collateral, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 7.08 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredrequired under that section.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Collateral or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Indenture (Foster Wheeler Inc), Indenture (Foster Wheeler LTD), Indenture (Foster Wheeler Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the Collateral may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe Collateral, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such title to the Collateral, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 7.9 (Eligibility, Disqualification) and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 7.9 (Eligibility, Disqualification) hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1A) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Collateral or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2B) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3C) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 3 contracts
Samples: Indenture (Central European Distribution Corp), Indenture (Central European Distribution Corp), Indenture (Latchey LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that, without the consent of Holders, the Trustee appoint a Person as a separate or co-trustee. The following provisions of this Section 5.12 are adopted to these ends.
(b) In the event that the Trustee appoints an additional Person as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such Person separate or Persons, in co-trustee but only to the extent necessary to enable such capacity and for the benefit of the Holders, separate or co-trustee to exercise such powers, dutiesrights and remedies, obligationsand only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and trusts as the Trustee may consider necessary remedies (in which event such rights, powers and duties shall be exercised singly by such separate or desirable. No co-trustee but solely at the direction of the Trustee) and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them. No separate or co-trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 5.8 hereof and no notice to the Holders of the appointment of any separate or co-trustee shall be required under Section 5.10 hereof.
(c) Should any instrument in writing from the Republic be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Republic; provided that if an Event of Default shall have occurred and be continuing, if the Republic does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Republic to execute any such instrument in the Republic’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee shall be requiredor successor to such separate or co-trustee.
(bd) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All i. all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2) ii. the Trustee shall not be personally liable by reason of any act or omission of any separate or co-trustee hereunder appointed by it with due care. No separate or co-trustee hereunder shall be personally liable by reason of any act or omission of the Trustee, any other separate trustee or any co-trustee hereunder; and
(3) The iii. the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee5.12.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
(g) The obligations of the co-trustees shall be several and not joint.
Appears in 2 contracts
Samples: Indenture (Republic of Indonesia), Indenture (Republic of Indonesia)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including particularly the law of the relevant state) denying or restricting the right of banking corporations or associations to transact business as trustee in which any such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular act in case of the enforcement thereof on default, or acts are to be performed in the case the Trustee shall be incompetent deems that by reason of any present or unqualified future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to perform such act the Trustee or actshold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this Section are adopted to these ends. In the event such rights, powers, duties and obligations shall be exercised and performed singly by such that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but solely at only to the direction extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction (including particularly the Trustee.
(2relevant state) is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them. No trustee Trustee hereunder shall be personally liable by reason of any act or omission of any other trustee Trustee hereunder; and
(3) The , nor will the act or omission of any Trustee may at hereunder be imputed to any time accept other Trustee. Should any instrument in writing from the resignation of or remove any Company be required by the separate trustee or co-trustee.
(c) Any noticetrustee so appointed by the Trustee for more fully and certainly vesting in and confirming to such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company at the expense of the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within 15 days after a request or other writing given to therefor, the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, empowered as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or an attorney-in-fact with full power for the Company to execute any such instrument in the Company's name and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its namestead. If In case any separate trustee or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
Appears in 2 contracts
Samples: Indenture (Kansas City Southern De Mexico, S.A. De C.V.), Indenture (Kansas City Southern De Mexico, S.A. De C.V.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including particularly the laws of the State) denying or restricting the right of banking corporations or associations to transact business as Trustee in such jurisdiction. It is recognized that, in case of litigation under this Indenture and, in particular, in case of the enforcement hereof on default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or taken any other action which any particular act may be desirable or acts necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate Co-Trustee. The following provisions of this Section are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate Co-Trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be performed exercised by or vested in or conveyed to the Trustee with respect thereto shall be incompetent exercisable by and vest in such separate Co-Trustee but only to the extent necessary to enable such separate or unqualified Co-Trustee to perform exercise such act powers, rights, and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or actsCo-Trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Issuer be required by the separate or Co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, in which event such rights, powers, trusts, duties and obligations shall obligations, any and all such instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove Issuer. In case any separate trustee or coCo-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject a successor to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee either shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new Trustee or successor trusteeto such separate or Co-Trustee.
Appears in 2 contracts
Samples: Trust Indenture, Bond Indenture and Security Agreement
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for Subject to the purpose of meeting any legal requirement of any jurisdiction or otherwisequalifications set forth in Section 6.09, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act an additional institution as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such trustee. If the Trustee appoints an additional institution as a separate trustee or co-trustee is not authorized trustee, each and every remedy, power, fight, claim, demand, cause of action, immunity, estate, duty, obligation, title, interest and lien expressed or intended by this Indenture to act separately without be exercised by, vested in and conveyed by the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee with respect thereto shall be incompetent or unqualified exercisable by, vested in and conveyed to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at only to the direction extent necessary to enable such separate trustee or co-trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary for the exercise thereby by such separate trustee or co-trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Trustee.
(2) No Company be required by the separate trustee hereunder shall or co-trustee so appointed by the Trustee for more fully vesting in and confirming to them such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be personally liable executed, acknowledged and delivered by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove Company. If any separate trustee or co-trustee.
(c) Any notice, request or other writing given a successor to either, shall become incapable of acting or not qualified to act, resign or be removed, all the estate, properties, rights, powers, trusts, duties and obligations of such separate trustee or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee shall be deemed until the appointment of a successor to have been given to each of the then such separate trustees and trustee or co-trustees, as effectively as if given to each trustee. The appointment of them. Every instrument appointing any separate trustee or co-trustee shall refer be subject to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance written approval of the trusts conferred, shall be vested with the estates or property specified in its instrument Company so long as no Event of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of Default has occurred and is continuing under this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Affymetrix Inc), Indenture (Affymetrix Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.12 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuers be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by applicable law, on request, be executed, acknowledged and delivered by the Issuers; provided that if an Event of Default shall have occurred and be continuing, if the Issuers do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuers to execute any such instrument in the Issuers’ name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by by-law, without the appointment of a new or successor successors trustee.
Appears in 2 contracts
Samples: Indenture (Difl Us Ii LLC), Indenture (Transact LTD)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of a Person to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint a Person as a separate or co-trustee. The following provisions of this IndentureSection 7.10 are adopted to these ends. In the event that the Trustee appoints an additional Person as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them. So long no Event of Default shall have occurred and be continuing, any such appointment shall be pursuant to such terms and conditions as are agreed with the Issuer. Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer; provided, that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall have be empowered as an attorney-in-fact for the power Issuer to execute any such instrument in the Issuer’s name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1a) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2b) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article 7. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. Notwithstanding anything contained herein to the contrary, the right of the Trustee to perform any discretionary act enumerated herein or in the Notes (including the right to consent to or approve of any action or document which requires its consent or approval and the right to waive any provision of, or consent to any change or amendment to, any of this Indenture or the Notes) shall not be construed as giving rise to any expressed or implied duty owed by the Trustee, and the Trustee shall not be answerable in connection with any of the foregoing for, or have any liability whatsoever as a result of, (i) its refusal to perform, consent or approve of such discretionary acts without the prior consent or direction of the applicable percentage of the Holders that would be required if such consent or direction was obtained under this Indenture or (ii) its performance of any such discretionary act (except for any gross negligence or willful misconduct in the performance of such acts).
Appears in 2 contracts
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for For the purpose of meeting any legal requirement requirements of any jurisdiction in which the Company may at the time be located in connection with the enforcement of any right or otherwisethe taking of any action on behalf of the Holders of any Securities issued hereunder, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, with such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No Each co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to 6.09. The Trustee shall promptly notify the Holders and the Company of the appointment of any a co-trustee or separate trustee shall be requiredunder this Section 6.15.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and;
(3) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.;
(c4) Any any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VI. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.; and
(d5) Any any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If name for the purposes of enforcing any separate trustee rights or co-trustee shall die, become incapable taking any other action on behalf of acting, resign or be removed, all the Holders of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trusteeany Securities issued hereunder.
Appears in 2 contracts
Samples: Indenture (Geo MCF Lp, LLC), Indenture (Geo MCF Lp, LLC)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required to meet the terms trustee. The following provisions of eligibility as a successor trustee under this Section 7.09 and no notice are adopted to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lxxx expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 2 contracts
Samples: Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including particularly the laws of the State) denying or restricting the right of banking corporations or associations to transact business as Trustee in which any such jurisdiction. It is recognized that in case of litigation under this Indenture or the Agreement, and in particular act in case of the enforcement thereof on Default, or acts are to be performed in case the Trustee shall deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein or therein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be incompetent desirable or unqualified to perform such act necessary in connection therewith, the Trustee may appoint an additional individual or actsinstitution as a separate or Co-Trustee, in which event each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture or the Agreement to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or Co-Trustee, but only to the extent necessary to enable such separate or Co-Trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or Co-Trustee shall run to and be enforceable by either of them. Should any deed, conveyance or instrument in writing from the Issuer be required by the separate or Co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations shall obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove Issuer. In case any separate trustee or coCo-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability ofTrustee, or affording protection or rights (including the rights to compensationa successor, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new successor to such separate or successor trusteeCo-Trustee. Any Co-Trustee appointed by the Trustee pursuant to this Section may be removed by the Trustee, in which case all powers, rights and remedies vested in the Co-Trustee shall again vest in the Trustee as if no such appointment of a Co-Trustee had been made.
Appears in 2 contracts
Samples: Indenture of Trust (Simmons Co /Ga/), Indenture of Trust (Simmons Co /Ga/)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall have be empowered as an attorney-in-fact for the power Company to execute any such instrument in the Company's name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Petro Canada), Indenture (Precision Drilling Corp)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of in this Indenture, at any time, solely for the purpose of meeting any the legal requirement requirements of any jurisdiction or otherwisejurisdiction, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a separate trustee or trustees or as co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for subject to the benefit other provisions of the Holdersthis Indenture, such powers, duties, obligations, obligations and rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 this Indenture and no notice to the Holders holders of Notes of the appointment of any a separate trustee or co-trustee or separate trustee shall be requiredrequired under this Indenture.
(b) Every separate trustee and or co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is us not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and or co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and or co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided thereinTrustee, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee or its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Flag Telecom Holdings LTD), Senior Euro Notes Agreement (Flag Telecom Holdings LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility institution as a successor trustee under separate or co- trustee. The following provisions of this Section 7.09 and no notice 7.10 are adopted to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Xxxx expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, powers, duties all rights and obligations powers conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Portishead Insurance Management LTD), Indenture (Townfrost LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the HoldersSecurityholders, subject to the other provisions of this Section, such powers, duties, obligations, obligations and rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 7.07 hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
(e) Notwithstanding any provision of Section 7.11, the appointment of any separate trustee or co-trustee shall only be effective upon the prior written consent of the Issuer or the Company, which consent shall not be unreasonably withheld or delayed.
Appears in 2 contracts
Samples: Indenture (Suzano Austria GmbH), Indenture (Suzano Austria GmbH)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions terms of this IndentureAgreement, at any time, for the purpose of meeting any legal requirement requirements of any jurisdiction or otherwisein which any party of the Trust Property may at the time be located, the Depositor and the Trustee acting jointly shall have the power and may shall execute and deliver all instruments necessary to appoint one or more Persons approved by the Trustee to act as a co-trustee Trustee or co-trusteesTrustees, or separate trusteesjointly with the Trustee, of all or any part of this Indenturethe Trust Property, and to vest in such Person or Persons, in such capacity and for capacity, such title to the benefit Trust Property, or any part thereof, and, subject to the other terms of the Holdersthis Section 8.10, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment within 30 calendar days after the receipt by it of a request so to do, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder Trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee Trustee under Section 7.09 8.06 and no notice to the Holders Certificateholders of the appointment of any a co-trustee Trustee or separate trustee co-Trustees shall be requiredrequired under Section 8.08.
(b) Every separate trustee and In the case of any appointment of a co-trustee shallTrustee pursuant to this Section 8.10, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed by the Trustee, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to such Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely Trustee at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trusteesTrustees, as effectively as if given to each of them. Every instrument appointing appointment any separate trustee or co-trustee Trustee shall refer to this Indenture Agreement and the conditions of this Section 7.12Article VIII. Each separate trustee and co-trusteeTrustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions terms of this IndentureAgreement, specifically including every provision of this Indenture Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may Trustee may, at any time time, constitute the Trustee Trustee, its agent or attorney-in-fact fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture Agreement on its behalf and in its name. If any separate trustee or co-trustee Trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trusteeTrustee.
(e) No Trustee hereunder shall be personally liable by reason of any act or omission of any other Trustee hereunder.
Appears in 2 contracts
Samples: Trust Agreement (Bond Trust Products LLC), Trust Agreement (Bond Trust Products LLC)
Appointment of Co-Trustee. Separate Trustee or ---------------------------------------------- Custodian.
(a) Notwithstanding any other provisions of this Indenturehereof, at any time, for --------- the purpose of meeting any legal requirement of any jurisdiction or otherwiseTrustee, the Trustee Depositor or the Certificateholders evidencing more than 50% of the Class Certificate Principal Amount (or Aggregate Notional Amount) of each Class of Certificates shall each have the power and may execute and deliver all instruments necessary from time to time to appoint one or more Persons to act either as a co-trustees jointly with the Trustee, or as separate trustees, or as custodians, for the purpose of holding title to, foreclosing or otherwise taking action with respect to any Mortgage Loan outside the state where the Trustee has its principal place of business where such separate trustee or co-trustee is necessary or advisable under the laws of any state in which a property securing a Mortgage Loan is located or for the purpose of otherwise conforming to any legal requirement, restriction or condition in any state in which a property securing a Mortgage Loan is located or in any state in which any portion of the Trust Fund is located. The separate Trustees, co-trustees, or separate trustees, of all custodians so appointed shall be trustees or any part of this Indenture, and to vest in such Person or Persons, in such capacity and custodians for the benefit of all the Holders, Certificateholders and shall have such powers, duties, obligations, rights and trusts remedies as shall be specified in the instrument of appointment; provided, however, that no such appointment -------- ------- shall, or shall be deemed to, constitute the appointee an agent of the Trustee. The obligation of the Trustee may consider necessary to make Advances pursuant to Section 5.04 and 6.14 hereof shall not be affected or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of assigned by the appointment of any a co-trustee or separate trustee shall be requiredtrustee.
(b) Every separate trustee and trustee, co-trustee trustee, and custodian shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all powers, duties, obligations and rights conferred upon the Trustee in respect of the receipt, custody and payment of moneys shall be exercised solely by the Trustee;
(ii) all other rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or trustee, co-trustee jointly (it being understood that such separate trustee trustee, or co-trustee is not authorized to act separately without the Trustee joining in such act)custodian jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations obligations, including the holding of title to the Trust Fund or any portion thereof in any such jurisdiction, shall be exercised and performed singly by such separate trustee or trustee, co-trustee, but solely at the direction of the Trustee.or custodian;
(2iii) No no trustee or custodian hereunder shall be personally liable by reason of any act or omission of any other trustee or custodian hereunder; and
(3iv) The the Trustee or the Certificateholders evidencing more than 50% of the Aggregate Voting Interests of the Certificates may at any time accept the resignation of or remove any separate trustee, co-trustee or co-trusteecustodian, so appointed by it or them, if such resignation or removal does not violate the other terms of this Agreement.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or trustee, co-trustee or custodian shall refer to this Indenture Agreement and the conditions of this Section 7.12Article VI. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this IndentureAgreement, specifically including every provision of this Indenture Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or trustee, co-trustee may or custodian may, at any time time, constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture Agreement on its behalf and in its name. If any separate trustee or trustee, co-trustee or custodian shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
(e) No separate trustee, co-trustee or custodian hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 6.05 hereunder and no notice to Certificateholders of the appointment shall be required under Section 6.07 hereof.
(f) The Trustee agrees to instruct the co-trustees, if any, to the extent necessary to fulfill the Trustee's obligations hereunder.
(g) The Trustee shall pay the reasonable compensation of the co-trustees to the extent, and in accordance with the standards, specified in Section 6.12 hereof (which compensation shall not reduce any compensation payable to the Trustee under such Section).
Appears in 2 contracts
Samples: Trust Agreement (Structured Asset Securities Corporation), Trust Agreement (Structured Asset Securities Corporation)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including the law of the State of New York) denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that, in case of litigation under this Indenture, and in particular in the case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any action which any particular may be desirable or necessary in connection therewith, it may be necessary that an additional individual or institution act as a separate or acts are to be performed Co-Trustee. In the event that the Trustee shall appoint an additional individual or institution as a separate or Co-Trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be incompetent exercised by or unqualified vested in or conveyed to perform the Trustee with respect thereto shall be exercisable by and vest in such act separate or actsCo-Trustee, but only to the extent necessary to enable any separate or such separate or Co-Trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by any separate or such separate or Co-Trustee shall run to and be enforceable by either of them. Should any instrument in which event writing from the Company be required by the separate or Co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such estates, property, rights, powers, duties trusts, duties, and obligations shall obligations, any and all such instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such separate trustee or cothe Company. In case the Co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject a successor to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, either shall die or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign resign, or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of any separate or such separate or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment by the Trustee of a successor to any separate or such separate or Co-Trustee or a new separate or successor trusteeCo-Trustee. Any separate or Co-Trustee appointed by the Trustee pursuant to this section may be removed by the Trustee , in which case all powers, rights and remedies vested in the separate or Co-Trustee shall again vest in the Trustee as if no such appointment as a separate or Co-Trustee had been made.
Appears in 2 contracts
Samples: Indenture (Broadwing Inc), Indenture (Broadwing Communications Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions terms of this Indenturethe Trust Agreement, at any time, for the purpose of meeting any legal requirement requirements of any jurisdiction or otherwisein which any party of the Trust Property may at the time be located, the Depositor and the Trustee acting jointly shall have the power and may shall execute and deliver all instruments necessary to appoint one or more Persons approved by the Trustee to act as a co-trustee or co-trustees, or separate trusteesjointly with the Trustee, of all or any part of this Indenturethe Trust Property, and to vest in such Person or Persons, in such capacity and for capacity, such title to the benefit Trust Property, or any part thereof, and, subject to the other terms of the Holdersthis Section, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder under the Trust Agreement shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 10.06 and no notice to the Holders of the appointment of any a co-trustee or separate trustee co-trustees shall be requiredrequired under Section 10.08.
(b) Every separate trustee and In the case of any appointment of a co-trustee shallpursuant to this Section, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed by the Trustee, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to such Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely trustee at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing appointment any separate trustee or co-trustee shall refer to this Indenture the Trust Agreement and the conditions of this Section 7.12. Article X. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions terms of this Indenturethe Trust Agreement, specifically including every provision of this Indenture the Trust Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may may, at any time time, constitute the Trustee Trustee, its agent or attorney-in-fact fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture the Trust Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Trust Agreement (Comcertz Abs Corp), Trust Agreement (Comcertz Abs Corp)
Appointment of Co-Trustee. It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (aincluding particularly the law of the State) Notwithstanding denying or restricting the right of banking corporations or associations to transact business as Trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or the Agreement, and in particular in case of the enforcement of either on default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or an additional institution as a separate or co-trustee. The following provisions of this IndentureSection 10.10 are adapted to these ends. In the event that the Trustee appoints an individual or an additional institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, obligation, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be imposed upon, exercised by or vested in or conveyed to the purpose Trustee with respect thereto shall be imposed upon, exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of meeting any legal requirement of any jurisdiction them. Such separate or otherwiseco-trustee shall deliver an instrument in writing acknowledging and accepting its appointment hereunder to the Issuer, the Trustee shall have and the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or Borrower. Should any part of this Indenture, and to vest instrument in such Person or Persons, in such capacity and for writing from the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall Issuer be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without so appointed by the Trustee joining for more fully and certainly vesting in and confirming to him or it such act)properties, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, trusts, duties and obligations shall under this Indenture, any and all such instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such the Issuer. In case any separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any noticea successor to either, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate trustee or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate trustee or co-trustee. The appointment of a co-trustee hereunder shall not in any way change the Trustee’s fiduciary duties and obligations hereunder.
Appears in 2 contracts
Samples: Trust Indenture (First United Ethanol LLC), Trust Indenture (First United Ethanol LLC)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other provisions law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, at and in particular in case of the enforcement of an Event of Default, or in case the Trustee deems that by reason of any timepresent or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that an additional individual or institution be appointed as a separate or Co-Trustee. At any time or times, for the purpose of meeting any the legal requirement requirements of any jurisdiction or otherwisejurisdiction, the Trustee shall have and the power and Corporation may execute and deliver all instruments necessary to appoint one an additional individual or more Persons to act institution as a coseparate or Co-trustee Trustee, in which event each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or co-trustees, or separate trustees, of all or any part of intended by this Indenture, to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and to vest in such Person separate or Persons, in Co-Trustee but only to the extent necessary to enable such capacity and for the benefit of the Holders, separate or Co-Trustee to exercise such powers, dutiesrights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or Co-Trustee shall run to and be enforceable by either of them. If the Corporation does not join in such appointment within fifteen (15) days after receipt by it of a request so to do, or in case an Event of Default has occurred and is continuing, the Trustee alone shall have power to make such appointment. Should any deed, conveyance or instrument in writing from the Corporation be required by the separate or Co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations, rights including particularly the right to be paid its fees for services rendered, any and trusts as all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Trustee may consider necessary Corporation. In case any separate or desirable. No coCo-trustee Trustee, or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 to either, shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and no notice to the Holders obligations of the appointment of any cosuch separate or Co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shallTrustee, to the extent so far as permitted by law, shall vest in and be appointed and act subject exercised by the Trustee until the appointment of a new Trustee or successor to the following provisions and conditions:
(1) All such separate or Co-Trustee. The rights, powers, duties and obligations hereby conferred or imposed upon the Trustee in respect of this Indenture shall be conferred or imposed upon and exercised or performed by the Trustee or by the Trustee and such separate trustee or coCo-trustee jointly (it being understood that Trustee jointly, as shall be provided in the instrument appointing such separate trustee or coCo-trustee is not authorized to act separately without the Trustee joining in such act)Trustee, except to the extent that under any law of any jurisdiction in which any particular act or acts are is to be performed performed, the Trustee shall be incompetent or unqualified to perform such act or actsact, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or coCo-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Delta Natural Gas Co Inc), Indenture (Delta Natural Gas Co Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this IndentureAgreement, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisewith respect to this Agreement, including any jurisdiction in which any part of the assets pledged hereunder may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons persons or entities to act as a co-trustee or co-trustees, or separate trusteestrustee or separate trustees with respect to this Agreement, of including with respect to all or any part of this Indenturesuch assets, and to vest in such Person person or Personsentity, in such capacity and for the benefit of the HoldersBondholders, such title to the collateral, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 10.14 and no notice to the Holders Bondholders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the assets pledged hereunder or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture Agreement and the conditions of this Section 7.12. Article X. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this IndentureAgreement, specifically including every provision of this Indenture Agreement relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Master Agreement of Trust, Master Agreement of Trust
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection are adopted to these ends.
(b) In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Republic be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Republic; provided that, if an Event of Default shall have occurred and be continuing, if the Republic does not execute any such instrument within fifteen (15) days after request therefor, the Trustee Trustees shall have be empowered as an attorney-in-fact for the power Republic to execute any such instrument in the Republic’s name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be requiredtrustee.
(bd) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No trustee hereunder shall be personally responsible or liable by reason of any act or omission of any other trustee hereunder; and
(3provided that nothing in this Section 5.12(d) The shall relieve the Trustee may at of its duty to appoint any time accept the resignation of or remove any separate trustee or co-trusteetrustee with due care.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeSection.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Federative Republic of Brazil), Indenture (Federative Republic of Brazil)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.12 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from an Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by such Issuer; provided, however, that if an Event of Default shall have occurred and be continuing, if an Issuer does not execute any such instrument within 15 days after request therefor, the Trustees shall be empowered as an attorney-in-fact for such Issuer to execute any such instrument in such Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle 7.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 2 contracts
Samples: Indenture (Foresight Energy LP), Indenture (Foresight Energy LP)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of in this Indenture, at any time, solely for the purpose of meeting any the legal requirement requirements of any jurisdiction or otherwisejurisdiction, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons selected by it in good faith to act as a separate trustee or trustees or as co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for subject to the benefit other provisions of the Holdersthis Indenture, such powers, duties, obligations, obligations and rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 this Indenture and no notice to the Holders of Notes of the appointment of any a separate trustee or co-trustee or separate trustee shall be requiredrequired under this Indenture.
(b) Every separate trustee and or co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trusteeTrustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and or co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and or co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided thereinTrustee, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee or its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of Section 7.11 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional Person as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer; provided, however, that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for such Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) To the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle 7.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (FTS International, Inc.), Indenture (FTS International, Inc.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.12 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from an Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by such Issuer; provided, however, that if an Event of Default shall have occurred and be continuing, if an Issuers does not execute any such instrument within 15 days after request therefor, the Trustees shall be empowered as an attorney-in-fact for such Issuer to execute any such instrument in such Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 2 contracts
Samples: Indenture (Foresight Energy Partners LP), Indenture (Foresight Energy Partners LP)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required to meet the terms trustee. The following provisions of eligibility as a successor trustee under this Section 7.09 and no notice are adopted to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Xxxx expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by the laws of the State of New York and the jurisdictions of organization of the Issuer, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 2 contracts
Samples: Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions terms of this Indenturethe Trust Agreement, at any time, for the purpose of meeting any legal requirement requirements of any jurisdiction or otherwisein which any party of the Trust Property may at the time be located, the Depositor and the Trustee acting jointly shall have the power and may shall execute and deliver all instruments necessary to appoint one or more Persons approved by the Trustee to act as a co-trustee or co-trustees, or separate trusteesjointly with the Trustee, of all or any part of this Indenturethe Trust Property, and to vest in such Person or Persons, in such capacity and for capacity, such title to the benefit Trust Property, or any part thereof, and, subject to the other terms of the Holdersthis Section 10.10, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable. If the Depositor does not join in such appointment within 15 days after receiving a request so to do, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder under the Trust Agreement shall be required to meet the terms of eligibility be eligible to serve as a successor trustee under pursuant to Section 7.09 10.06 and no notice to the Holders Certificateholders of the appointment of any a co-trustee or separate trustee co-trustees shall be requiredrequired under this Section 10.10.
(b) Every separate trustee and In the case of any appointment of a co-trustee shallpursuant to this Section 10.10, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed by the Trustee, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to such Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely trustee at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Trust Agreement (Credit & Asset Repackaging Vehicle Corp), Trust Agreement (Credit & Asset Repackaging Vehicle Corp)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, time for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the Collateral may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe Collateral, and to vest in such Person or Persons, in such capacity and for the benefit of the HoldersNoteholders, such title to the Collateral, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No Each co-trustee or separate trustee hereunder shall be required to meet have a combined capital and surplus (computed in accordance with Section 310(a)(2) of the terms Trust Indenture Act) of eligibility as a successor trustee under Section 7.09 at least $50,000,000 and no the Trustee shall, at the expense of the Company, provide prompt notice to the Holders holders of the appointment of any co-trustee or separate trustee shall be requiredtrustee.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of the Collateral or any portion thereof in any such jurisdiction ) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture indenture and the conditions of this Section 7.12Article 12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights right to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new anew or successor trustee.
Appears in 2 contracts
Samples: Indenture (Flag Telecom Holdings LTD), Indenture (Flag Telecom Holdings LTD)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction, denying or restricting the right of banking corporations or associations to transact business as Trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or any Transaction Document, and in particular in case of the enforcement of any such document on default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate or co-trustee. The following provisions of this Indenture, at any time, for Section 8.14 are adopted to these ends.
(b) In the purpose of meeting any legal requirement of any jurisdiction or otherwise, event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall have be exercisable by and vested in such separate or co-trustee but only to the power and may execute and deliver all instruments extent necessary to appoint one enable such separate or more Persons to act as a co-trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing be required by the separate trustee or co-trusteestrustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. In case any separate trustee or co-trustee, or a successor to either, shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate trusteestrustee or co-trustee, of all or any part of this Indentureso far as permitted by law, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate trustee or co-trustee or separate trustee shall be requiredtrustee.
(bd) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to any property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and;
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.. and
(civ) Any noticeeach co-trustee appointed hereunder shall at all times be a bank that complies with the eligibility requirements set forth in Section 310(a) of the Trust Indenture Act, request have a combined capital and surplus of U.S.$100,000,000, have its corporate trust office in the Borough of Manhattan, the city of New York and have a long-term unsecured debt rating of at least “A2” by Moody’s. If such bank publishes reports of condition at least annually, pursuant to law or other writing given to the Trustee requirements of a supervising or examining authority referred to in Section 301(a) of the Trust Indenture Act, then for the purposes of this subsection, the combined capital and surplus of such bank shall be deemed to have been given to each of the then separate trustees be its combined capital and co-trustees, surplus as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified set forth in its instrument most recent report of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trusteecondition so published.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (InBev Corporate Holdings Inc.), Indenture (American Beverage Co Ambev)
Appointment of Co-Trustee. (a) Notwithstanding In the event the Trustee deems that by reason of any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement present or future law of any jurisdiction it may not exercise any of the powers, rights or otherwise, remedies herein granted to the Trustee shall have or hold title to the power and properties, in trust, as herein granted, or take any other action which may execute and deliver all instruments be desirable or necessary to in connection therewith, it may be necessary that the Trustee appoint one or more Persons to act an additional institution as a co-separate trustee or co-trustees, or separate trustees, trustee. In the absence of all or any part an Event of Default under this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly shall be subject to the approval of the Authority and the Borrower. The following provisions of this Section are adapted to these ends.
(it being understood a) In the event that the Trustee appoints an additional institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, interest or lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except but only to the extent that under any law of any jurisdiction in which any particular act necessary to enable such separate trustee or acts are co-trustee to be performed the Trustee shall be incompetent or unqualified to perform exercise such act or acts, in which event such rights, powers, duties rights and obligations shall be exercised remedies, and performed singly every covenant and obligation necessary to the exercise thereof by such separate trustee or co-trusteetrustee shall run to and be enforceable by either of them. Such co-trustee may be removed by the Trustee at any time, but solely at the direction of the Trusteewith or without cause.
(2b) No trustee hereunder shall Should any instrument in writing from the Authority be personally liable required by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with so appointed by the Trustee or separately, as may be provided therein, subject for more fully and certainly vesting in and confirming to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every it such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remediespowers, trusts, duties and trusts shall vest obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and be exercised delivered by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.the
Appears in 2 contracts
Samples: Indenture of Trust (Laidlaw Environmental Services Inc), Indenture of Trust (Safety Kleen Corp/)
Appointment of Co-Trustee. It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or the Subordination Agreement, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this Section 7.11 are adopted to these ends.
(a) Notwithstanding any other provisions In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this IndentureIndenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, at any timerights and remedies, for and only to the purpose of meeting any legal requirement extent that the Trustee by the laws of any jurisdiction or otherwiseis incapable of exercising such powers, the Trustee shall have the power rights and may execute remedies, and deliver all instruments every covenant and obligation necessary to appoint one the exercise thereof by such separate or more Persons to act as a co-trustee or co-trustees, or separate trustees, shall run to and be enforceable by either of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthem.
(b) Every Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer; provided, however, that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer's name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(c) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-co- trustee, but solely at the direction of the Trustee.; and
(2ii) No trustee no Trustee hereunder shall be personally liable by reason of any act or omission of any other trustee Trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(cd) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(de) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as Trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies granted to the Trustee herein or in the Liquidity Facility Intercreditor Agreement, the Senior Notes Intercreditor Agreement or any of the other Collateral Documents or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, at each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture or the Liquidity Facility Intercreditor Agreement or the Senior Notes Intercreditor Agreement or any timeof the other Collateral Documents to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers. rights and remedies, for and only to the purpose of meeting any legal requirement extent that the Trustee by the laws of any jurisdiction (including particularly the State of New York) is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided, that if a Default or an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall have be empowered as an attorney-in-fact for the power Company to execute any such instrument in the Company's name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.127.15. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture Indenture, the Notes, the Liquidity Facility Intercreditor Agreement, the Senior Notes Intercreditor Agreement or any of the other Collateral Documents, on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Komag Inc /De/), Indenture (Komag Inc /De/)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as a trustee in which any such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular act in case of the enforcement on an Event of Default, or acts are to be performed in case the Trustee shall deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee in trust, as herein granted, or take any other action which may be incompetent desirable or unqualified to perform such act necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or actsinstitution as a separate or Co-Trustee. The Trustee may appoint an additional individual or institution as a separate or Co-Trustee, in which event each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture, to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or Co-Trustee but only to the extent necessary to enable such separate or Co-Trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or Co-Trustee shall run to and be enforceable by either of them. Should any deed, conveyance or instrument in writing from the Corporation be required by the separate or Co-Trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations shall obligations, including particularly the right to be exercised paid its fees and performed singly expenses for services rendered, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove Corporation. In case any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability ofCo- Trustee, or affording protection or rights (including the rights a successor to compensationeither, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers trusts, duties and trusts obligations of such separate or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new Co- Trustee successor to such separate or successor trusteeCo-Trustee.
Appears in 2 contracts
Samples: Indenture (Southwest Water Co), Indenture (Southwest Water Co)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 hereof and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-co- trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-co- trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Indenture (STUDIO CITY INTERNATIONAL HOLDINGS LTD)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement this Indenture that there shall be no violation of any jurisdiction law of any jurisdiction, including particularly the law of the State of New York, denying or otherwise, restricting the right of banking corporations or associations to transact business as Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement on Default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate or co-trustee. The following provisions of this Section 5.14 are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vested in such Person separate or Persons, in co-trustee but only to the extent necessary to enable such capacity and for the benefit of the Holders, separate or co-trustee to exercise such powers, duties, obligations, rights and trusts as remedies, and every covenant and obligation necessary to the Trustee may consider necessary exercise thereof by such separate or desirable. No co-trustee shall run to and be enforceable by such separate or separate trustee hereunder shall co-trustee. Should any instrument in writing be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without so appointed by the Trustee joining for more fully and certainly vesting in and confirming to him or it such act)properties, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, trusts, duties and obligations shall obligations, any and all such instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such the Company. In case any separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any noticea successor to either, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate trustee or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate trustee or co-trustee.
Appears in 2 contracts
Samples: Indenture (Arch Wireless Communications Inc), Indenture (Arch Wireless Communications Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of in this Indenture, at any time, solely for the purpose of meeting any the legal requirement requirements of any jurisdiction or otherwisejurisdiction, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a separate trustee or trustees or as co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for subject to the benefit other provisions of the Holdersthis Indenture, such powers, duties, obligations, obligations and rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 this Indenture and no notice to the Holders of Notes of the appointment of any a separate trustee or co-trustee or separate trustee shall be requiredrequired under this Indenture.
(b) Every separate trustee and or co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any written notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and or co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and or co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided thereinTrustee, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee or its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall diedie or cease to exist, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 2 contracts
Samples: Indenture (Vitro Sa De Cv), Indenture (Vitro Sa De Cv)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwiseunder this Indenture, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the HoldersNoteholders, such title hereunder, or any part hereof, and subject to the other provisions of this Section 7.11, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 7.13 and no notice to the Holders Noteholders of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 7.13 hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to any property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article 7. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-attorney in fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Samples: Indenture (Ultrapar Holdings Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.12 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee shallbut only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall to the extent permitted by applicable law, on request, be appointed executed, acknowledged and act subject to delivered by the following provisions Issuer; provided that if an Event of Default shall have occurred and conditions:
(1) All rightsbe continuing, powersif the Issuer does not execute any such instrument within 15 days after request therefor, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, empowered as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or an attorney-in-fact with full power for the Issuer to execute any such instrument in the Issuer’s name and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its namestead. If In case any separate trustee or co-trustee or a successor to either shall die, become incapable of or acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
Appears in 1 contract
Samples: Indenture (Digicel Pacific LTD)
Appointment of Co-Trustee. It is the purpose of this Indenture that there shall be no violation of the law of any jurisdiction (aincluding particularly the law of the State) Notwithstanding denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, the Financing Agreement or the Letter of Credit, and in particular in case of the enforcement thereof on any other default or Event of Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate or co-trustee. The following provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Section are adapted to these ends. The Trustee shall have the power and may execute and deliver all instruments necessary is hereby authorized to appoint one or more Persons to act as a co-trustee separate or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as trustees if the Trustee may consider deems it advisable or necessary under the circumstances, including but not limited to the circumstances described in the immediately preceding paragraph. In the event that the Trustee appoints an additional individual or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility institution as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the direction of the Trustee.
(2) No trustee hereunder Trustee with respect thereto shall be personally liable exercisable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any and vest in such separate trustee or co-trustee.
(c) Any notice, request or other writing given trustee but only to the Trustee shall be deemed extent necessary to have been given to each of the then enable such separate trustees and or co-trusteestrustee to exercise such powers, as effectively as if given rights and remedies, and every covenant and obligation necessary to each of them. Every instrument appointing any the exercise thereof by such separate trustee or co-trustee shall refer run to this Indenture and be enforceable by either of them. Should any instrument in writing from the conditions of this Section 7.12. Each Issuer be required by the separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute so appointed by the Trustee its agent for more fully and certainly vesting in and confirming to him or attorney-in-fact with full power it such properties, rights, powers, trusts, duties and authorityobligations, to any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its nameIssuer. If In case any separate trustee or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate or co-trustee.. -82- 88
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, solely for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the trust may at the time be located, the Trustee shall shall, upon notifying the Company, have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe trust, and to vest in such Person or Persons, in such capacity and for the benefit of the Holdersholders of the Secured Obligations, such title to the trust, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No Any appointment of a co-trustee or a separate trustee pursuant to this Section 7.12 shall require the prior written consent of the Company. If such co-trustee or co-trustees, or separate trustee or separate trustees, is or are appointed, the reasonable costs and expenses incurred by the Trustee in connection with such appointment shall be for the account of the Company. Any co-trustee or separate trustee appointed hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 7.10, unless such requirement is waived at the Company’s discretion, and no notice to holders of the Holders Secured Obligations of the appointment of any co-trustee or separate trustee shall be requiredrequired under Section 7.08.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee, subject to the Company’s prior consent.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12ARTICLE Seven. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeTrustee with a copy to the Company.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Samples: Indenture (Acco Brands Corp)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection 5.12 are adopted to these ends.
(b) If the Trustee appoints an additional individual or institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Republic be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Republic; provided, that if an Event of Default shall have occurred and be continuing, if the Republic does not execute any such instrument within fifteen (15) days after request therefor, the Trustee Trustees shall have be empowered as an attorney-in-fact for the power Republic to execute any such instrument in the Republic’s name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be requiredtrustee.
(bd) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, i. all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2) ii. No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee5.12.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 1 contract
Samples: Indenture (Peru Republic Of)
Appointment of Co-Trustee. It is the purpose of this Trust Agreement that there shall be no violation of any law of any jurisdiction (including without limitation the laws of the Commonwealth) denying or restricting the right of banks or trust companies to transact business as trustees in that jurisdiction. It is recognized that, (a) Notwithstanding any if there is litigation under this Trust Agreement or other provisions instruments or documents relating to the Obligations and in particular in case of this Indenturethe enforcement hereof or thereof upon an Event of Default or (b) if the Trustee should deem that, at any time, for the purpose of meeting any legal requirement by reason of any jurisdiction present or otherwisefuture law of any jurisdiction, it may not (i) exercise any of the powers, rights or remedies granted herein to the Trustee, (ii) hold title to properties, in trust, as granted herein or (iii) take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one an individual or more Persons to act additional institution as a co-trustee Trustee. The following provisions of this Section are adopted to these ends. In the event that the Trustee appoints an individual or additional institution as a co- Trustee, each and every trust, property, remedy, power, right, duty, obligation, discretion, privilege, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Trust Agreement to be exercised by, vested in or conveyed to the Trustee shall be exercisable by, vest in and be conveyed to that co-trusteesTrustee, or separate trustees, of all or any part of this Indenture, but only to the extent necessary for it to be so vested and conveyed and to vest enable that co-Trustee to exercise it. Every covenant, agreement and obligation necessary to the exercise thereof by that co-Trustee shall run to and be enforceable by it. Should any instrument or document in such Person or Personswriting from the University reasonably be required by the co-Trustee so appointed by the Trustee for vesting and conveying more fully and certainly in and to that co-Trustee those trusts, in such capacity and for the benefit of the Holdersproperties, such remedies, powers, rights, duties, obligations, rights discretions, privileges, claims, demands, causes of action, immunities, estates, titles, interests and trusts as the Trustee may consider necessary liens, that instrument or desirable. No co-trustee or separate trustee hereunder document shall be required to meet executed, acknowledged and delivered, but shall not be prepared, by the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of University. In case any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject a successor to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee it shall die, become incapable of acting, resign or be removed, all of its estatesthe trusts, properties, remedies, powers, rights, remediesduties, obligations, discretions, privileges, claims, demands, causes of action, immunities, estates, titles, interests and trusts liens of the co-Trustee shall be exercised by, vest in and be exercised by conveyed to the Trustee, to the extent permitted by law, without until the appointment of a new or successor trusteeto the co- Trustee.
Appears in 1 contract
Samples: Trust Agreement
Appointment of Co-Trustee. (a) Notwithstanding any ------------------------- other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the Notes may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe Notes, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such title to the Notes, or any part hereof, and subject to the other provisions of this Section 7.14, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), ) except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified or it shall be unreasonably burdensome for the Trustee to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Notes or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-co- trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article Seven. Each separate trustee and co-trustee, upon its acceptance of the trusts conferredappointment, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without until the appointment of a new trustee or successor to such separate or co-trustee.
Appears in 1 contract
Samples: Indenture (Manitowoc Co Inc)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection 7.13 are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligations necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them. Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on reasonable request, be executed, acknowledged and delivered by the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall have be empowered as an attorney-in-fact for the Company to execute any such instrument in the Company's name and stead, such power and may execute and deliver all instruments necessary to appoint one be effective for only such continuance of such Event of Default. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be required.
(b) trustee. Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) . Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor successors trustee.
Appears in 1 contract
Samples: Indenture (Kronos International Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, The Company and the Trustee shall have power to appoint, and, upon the power written request of the Trustee or of the Holders of at least 25% in principal amount of the Securities then Outstanding, the Company shall for such purpose join with the Trustee in the execution and may execute and deliver delivery of all instruments and agreements necessary or proper to appoint appoint, one or more Persons approved by the Trustee and, if no Event of Default shall have occurred and be continuing, by the Company to act as a co-trustee trustee, jointly with the Trustee. If the Company or co-trusteesany applicable Guarantor does not join in such appointment within 15 days after the receipt by it of a request so to do, or separate trusteesif an Event of Default shall 110 have occurred and be continuing, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder alone shall be required have power to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredmake such appointment.
(ba) Every separate trustee the Securities shall be authenticated and co-trustee shalldelivered, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations hereunder in respect of the custody of securities, cash and other personal property held by, or required to be deposited or pledged with, the Trustee hereunder, shall be exercised solely by the Trustee;
(b) the rights, powers, duties and obligations hereby conferred or imposed upon the Trustee in respect of any property covered by such appointment shall be conferred or imposed upon and exercised or performed either by the Trustee or by the Trustee and such separate trustee or co-trustee jointly (it being understood that jointly, as shall be provided in the instrument appointing such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)trustee, except to the extent that under any law of any jurisdiction in which any particular act or acts are is to be performed the Trustee shall be incompetent or unqualified to perform such act or actsact, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee;
(c) the Trustee at any time, but solely at by an instrument in writing executed by it, with the direction concurrence of the Company, may accept the resignation of or remove any co-trustee appointed under this Section, and, if an Event of Default shall have occurred and be continuing, the Trustee shall have power to accept the resignation of, or remove, any such co-trustee without the concurrence of the Company. Upon the written request of the Trustee., the Company and each applicable Guarantor shall join with the Trustee in the execution and delivery of all instruments and agreements necessary or proper to effectuate such resignation or removal. A successor to any co-trustee so resigned or removed may be appointed in the manner provided in this Section;
(2d) No neither the Trustee nor any co-trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3e) The Trustee may at any time accept the resignation Act of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given Holders delivered to the Trustee shall be deemed to have been given delivered to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and such co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other law of any jurisdiction (including particularly the law of the State) denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or the Security Agreement, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this IndentureSection are adopted to these ends.
(b) In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, at any timeeach and every remedy, for power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or 91 100 intended by this Indenture to be exercised by or vested in or conveyed to the purpose of meeting any legal requirement Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction (including particularly the State) is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or otherwiseco-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Company be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument with fifteen (15) days after request therefor, the Trustee Trustees shall have be empowered as an attorney-in-fact for the power Company to execute any such instrument in the Company's name and may execute and deliver all instruments necessary to appoint one stead. In case any separate or more Persons to act as a co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trusteestrustee, or separate trusteesso far as permitted by law, of all or any part of this Indenture, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate or co-trustee or separate trustee shall be requiredtrustee.
(bd) Every separate trustee and co-trustee shall, shall to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rightsright, remedies, 92 101 remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Samples: Indenture (Bell Atlantic Corp)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions If the Trustee deems it necessary or desirable in connection with the Collateral and/or the enforcement of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwiseCollateral Documents, the Trustee shall have may appoint a co-Trustee with such powers of the power Trustee as may be designated by the Trustee at the time of such appointment (including acting as separate trustee of any Collateral), and may the Borrower shall, on request, execute and deliver all instruments necessary to appoint one or more Persons to act as a such co-trustee Trustee any deeds, conveyances or other instruments required by such co-trustees, or separate trustees, of all or any part of this Indenture, Trustee so appointed by the Trustee to more fully and to certainly vest in and confirm to such Person or Personsco-Trustee its rights, in such capacity and for the benefit of the Holders, such powers, dutiestrusts, obligations, duties and obligations hereunder. All rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required (including rights to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rightsindemnification hereunder), powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee or jointly by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)Trustees, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee co-Trustees. No Trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder Trustee shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Trustee hereunder. Any notice, request or other writing given co-Trustee appointed pursuant to this Section 12.12 may be removed by the Trustee pursuant to the Trustee shall be deemed to have been given to each terms of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject removed and may resign pursuant to all the provisions of the applicable Collateral Document and of this Indenture. A co-Trustee shall not be responsible for and makes no representation as to the value or condition of the Collateral or any part thereof, specifically including every provision or as to the title of the Borrower thereto, or as to the security afforded thereby or hereby, or as to the validity or genuineness of any Collateral pledged and deposited with such co-Trustee, or the validity or adequacy of this Indenture relating or the Notes; a co-Trustee shall not be accountable for the Borrower's use of the proceeds from the Notes, and it shall not be responsible for any statement of the Borrower in this Indenture or any document issued in connection with the sale of the Notes or any statement in the Notes. A co-Trustee makes no representations with respect to the conduct of, affecting the liability of, effectiveness or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect adequacy of this Indenture on its behalf and in its nameor any Basic Document or the validity or perfection, if any, of Liens granted under this Indenture or the Collateral Documents. If any separate trustee or A co-trustee Trustee shall dienot be responsible for independently ascertaining or maintaining such validity or perfection, become incapable of acting, resign or be removed, all of its estates, properties, rights, remediesif any, and trusts shall vest be fully protected in relying upon certificates and be exercised by opinions delivered to it in accordance with the Trustee, to terms of this Indenture or the extent permitted by law, without the appointment of a new or successor trusteeCollateral Documents.
Appears in 1 contract
Samples: Indenture (Brigham Holdings Ii LLC)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No institution as a separate or co-trustee or separate trustee hereunder shall be required trustee. The following provisions of this Section 7.06 are adopted to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co- trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuers be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuers; provided, however, that if an Event of Default shall have occurred and be continuing, if the Issuers do not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuers to execute any such instrument in the Issuers’ names and stead. In case any separate or co-trustee or a successor to either shall die, become incapable or acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, all rights and powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trusteehereunder nor for supervising them.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle 7.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trusteeTrustee.
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in case of all or any part of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to vest in such Person the Trustee or Personshold title to the properties, in such capacity and for the benefit of the Holderstrust, such powersas herein granted or take any action which may be desirable or necessary in connection therewith, duties, obligations, rights and trusts as it may be necessary that the Trustee may consider necessary appoint an individual or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility institution as a successor trustee under separate or co- trustee. The following provisions of this Section 7.09 and no notice 6.09 are adopted to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and Lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing from the Issuer be required by the separate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer; provided that if an Event of Default shall have occurred and be continuing, if the Issuer does not execute any such instrument within 15 days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Issuer to execute any such instrument in the Issuer’s name and stead. In case any separate or co-trustee or a successor to either shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor to such separate or co-trustee.
(d) Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All rights, powers, duties all rights and obligations powers conferred or imposed upon the Trustee shall be conferred or imposed upon and may be exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.; and
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(ce) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the TrusteeArticle Seven.
(df) Any separate trustee or co-trustee may at any time constitute appoint the Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Samples: Indenture (TIG Midco LTD)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this ------------------------- Indenture that there shall be no violation of any law of any jurisdiction, denying or restricting the right of banking corporations or associations to transact business as Trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or any Transaction Document, and in particular in case of the enforcement of any such document on default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate or co-trustee. The following provisions of this Indenture, at any time, for Section 8.14 are adopted to these ends.
(b) In the purpose of meeting any legal requirement of any jurisdiction or otherwise, event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall have be exercisable by and vested in such separate or co-trustee but only to the power and may execute and deliver all instruments extent necessary to appoint one enable such separate or more Persons to act as a co-trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing be required by the separate trustee or co-trusteestrustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. In case any separate trustee or co-trustee, or a successor to either, shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate trusteestrustee or co-trustee, of all or any part of this Indentureso far as permitted by law, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate trustee or co-trustee or separate trustee shall be requiredtrustee.
(bd) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to any property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and;
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.; and
(civ) Any noticeeach co-trustee appointed hereunder shall at all times be a bank that complies with the eligibility requirements set forth in Section 310(a) of the Trust Indenture Act, request have a combined capital and surplus of U.S.$100,000,000, have its corporate trust office in the Borough of Manhattan, the City of New York and have a long-term unsecured debt rating of at least "A2" by Moody's. If such bank publishes reports of condition at least annually, pursuant to law or other writing given to the Trustee requirements of a supervising or examining authority referred to in Section 301(a) of the Trust Indenture Act, then for the purposes of this subsection, the combined capital and surplus of such bank shall be deemed to have been given to each of the then separate trustees be its combined capital and co-trustees, surplus as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified set forth in its instrument most recent report of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trusteecondition so published.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, The Company and the Trustee shall have power to appoint, and, upon the power written request of the Trustee or of the Holders of at least 25% in principal amount of the Securities then Outstanding, the Company shall for such purpose join with the Trustee in the execution and may execute and deliver delivery of all instruments and agreements necessary or proper to appoint appoint, one or more Persons approved by the Trustee and, if no Event of Default shall have occurred and be continuing, by the Company to act as a co-trustee trustee, jointly with the Trustee. If the Company or co-trusteesany applicable Guarantor does not join in such appointment within 15 days after the receipt by it of a request so to do, or separate trusteesif an Event of Default shall have occurred and be continuing, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirablealone shall have power to make such appointment. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, but to such extent only, be appointed and act subject to the following provisions and conditions:
(1a) All the Securities shall be authenticated and delivered, and all rights, powers, duties and obligations hereunder in respect of the custody of securities, cash and other personal property held by, or required to be deposited or pledged with, the Trustee hereunder, shall be exercised solely by the Trustee;
(b) the rights, powers, duties and obligations hereby conferred or imposed upon the Trustee in respect of any property covered by such appointment shall be conferred or imposed upon and exercised or performed either by the Trustee or by the Trustee and such separate trustee or co-trustee jointly (it being understood that jointly, as shall be provided in the instrument appointing such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)trustee, except to the extent that under any law of any jurisdiction in which any particular act or acts are is to be performed the Trustee shall be incompetent or unqualified to perform such act or actsact, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee;
(c) the Trustee at any time, but solely at by an instrument in writing executed by it, with the direction concurrence of the Company, may accept the resignation of or remove any co-trustee appointed under this Section, and, if an Event of Default shall have occurred and be continuing, the Trustee shall have power to accept the resignation of, or remove, any such co-trustee without the concurrence of the Company. Upon the written request of the Trustee., the Company and each applicable Guarantor shall join with the Trustee in the execution and delivery of all instruments and agreements necessary or proper to effectuate such resignation or removal. A successor to any co-trustee so resigned or removed may be appointed in the manner provided in this Section;
(2d) No neither the Trustee nor any co-trustee trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3e) The Trustee may at any time accept the resignation Act of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given Holders delivered to the Trustee shall be deemed to have been given delivered to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and such co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Issuer and Trustee shall have power to appoint and, upon the power and may execute and deliver request of Trustee, Issuer shall for such purpose join with Trustee in the execution of all instruments necessary or proper to appoint another corporation or one or more Persons persons approved by Trustee, either to act as a co-trustee or co-trustees, or separate trustees, trustees jointly with Trustee of all or any part of this Indenturethe property subject to the lien hereof, with such powers as may be provided in the instrument of appointment and to vest in such Person corporation or Personsperson or persons as such co-trustee any property, in such capacity and for the benefit of the Holderstitle, such powers, duties, obligations, rights and trusts as the Trustee may consider right or power deemed necessary or desirable. No In the event that Issuer shall not have joined in such appointment within fifteen (15) calendar days after the receipt by it of a request so to do, Trustee alone shall have the power to make such appointment, and provide to Issuer in writing notice of such appointment. Should any deed, conveyance or instrument in writing from Issuer be required by the co-trustee or separate trustee hereunder shall be required so appointed for more fully and certainly vesting in and confirming to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any such co-trustee or separate trustee shall such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be required.
(b) executed, acknowledged and delivered by Issuer. Every separate trustee and such co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions, namely:
(1a) All rightsThe Debentures shall be authenticated and delivered, and all powers, duties duties, obligations and obligations rights conferred upon Trustee in respect of the custody of all money and securities pledged or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act)deposited hereunder, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly solely by Trustee;
(b) Trustee, at any time by an instrument in writing, may remove any such separate trustee Trustee or co-trustee, but solely at the direction of the Trustee.; and
(2c) No trustee hereunder shall be personally liable by reason of any act for the acts or omission omissions of any other trustee appointed hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument instrument, other than this Indenture, appointing any separate trustee or such co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee Article X expressed, and upon the acceptance in writing by such co-trustee, upon its acceptance of the trusts conferred, co-trustee shall be vested with the estates estate or property specified in its instrument of appointmentsuch instrument, either jointly with the Trustee or separately, (except insofar as may be provided thereinlocal law makes it necessary for any separate trustee to act alone), subject to all the trusts, conditions and provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every Any such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time time, by an instrument in writing, constitute Trustee as the Trustee its co-trustee’s agent or attorney-in-fact with full power and authority, to the extent not prohibited authorized by law, to do any lawful act under all acts and things and exercise all discretion authorized or in respect permitted by the co-trustee, for and on behalf of this Indenture on its behalf the co-trustee and in its the co-trustee’s name. If In case any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estatesthe estate, properties, rights, remediespowers, trusts, duties and trusts obligations of said co-trustee shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or a successor to such co-trustee.
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction, denying or restricting the right of banking corporations or associations to transact business as Trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or any Transaction Document, and in particular in case of the enforcement of any such document on default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate or co-trustee. The following provisions of this Indenture, at any time, for Section 8.14 are adopted to these ends.
(b) In the purpose of meeting any legal requirement of any jurisdiction or otherwise, event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall have be exercisable by and vested in such separate or co-trustee but only to the power and may execute and deliver all instruments extent necessary to appoint one enable such separate or more Persons to act as a co-trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them.
(c) Should any instrument in writing be required by the separate trustee or co-trusteestrustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. In case any separate trustee or co-trustee, or a successor to either, shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such separate trusteestrustee or co-trustee, of all or any part of this Indentureso far as permitted by law, and to shall vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as be exercised by the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of until the appointment of any a new trustee or successor to such separate trustee or co-trustee or separate trustee shall be requiredtrustee.
(bd) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to any property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and;
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.. and
(civ) Any noticeeach co-trustee appointed hereunder shall at all times be a bank that complies with the eligibility requirements set forth in Section 310(a) of the Trust Indenture Act, request have a combined capital and surplus of U.S.$100,000,000, have its corporate trust office in the Borough of Manhattan, the city of New York and have a long-term unsecured debt rating of at least "A2" by Moody's. If such bank publishes reports of condition at least xxxxxxxy, pursuant to law or other writing given to the Trustee requirements of a supervising or examining authority referred to in Section 301(a) of the Trust Indenture Act, then for the purposes of this subsection, the combined capital and surplus of such bank shall be deemed to have been given to each of the then separate trustees be its combined capital and co-trustees, surplus as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified set forth in its instrument most recent report of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trusteecondition so published.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder Indenture that there shall be required to meet the terms no violation of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction (including particularly the law of the State) denying or restricting the right of banking corporations or associations to transact business as trustee in which any such jurisdiction. It is recognized that in case of litigation under this Indenture or the Agreement, and in particular act in case of the enforcement thereof upon a default or acts are to be performed an Event of Default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any action that may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate or co-trustee. The following provisions of this Section are adapted to these ends. Each separate or co-trustee shall: (i) be a corporation or banking association duly organized under the laws of the United States of America or any state or territory thereof, doing business and having an office in such location as shall be incompetent or unqualified approved by the Trustee, (ii) have together with its affiliates (herein defined) a combined capital and surplus of at least $100,000,000 as set forth in its most recent published annual report of condition, and (iii) be authorized by law to perform such act all the duties imposed upon it by this Indenture. For purposes of this Section, the term "affiliate" of the separate or actsco-trustee shall mean any corporation or other person that, in which directly or indirectly, controls or is controlled by or is under common control with the separate or co-trustee. In the event such rights, powers, duties and obligations shall be exercised and performed singly by such that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, but solely at each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the direction of the Trustee.
(2) No trustee hereunder Trustee with respect thereto shall be personally exercisable by and vest in such separate or co-trustee but only to the extent necessary to enable such separate or co-trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable by either of them; provided, however, that no co-trustee shall be liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or such co-trustee.
(c) Any notice, request or other . Should any instrument in writing given to from the Trustee shall Issuer be deemed to have been given to each of required by the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with so appointed by the Trustee for more fully and certainly vesting in and confirming to him or separatelyit such properties, as may rights, powers, trusts, duties and obligations, any and all such instruments in writing shall, on request, be provided thereinexecuted, subject to all acknowledged and delivered by the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the TrusteeIssuer. Every such instrument shall be filed with the Trustee.
(d) Any In case any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, a successor to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee either shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new co-trustee or successor to such separate or co-trustee.
Appears in 1 contract
Samples: Trust Indenture (Wca Waste Corp)
Appointment of Co-Trustee. (a) Notwithstanding It is the purpose of this Indenture that there shall be no violation of any other provisions law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, at and in particular in case of the enforcement thereof on default, or in the case the Trustee deems that by reason of any time, for the purpose of meeting any legal requirement present or future law of any jurisdiction it may not exercise any of the powers, rights or otherwise, remedies herein granted to the Trustee shall have or hold title to the power and properties, in trust, as herein granted or take any action which may execute and deliver all instruments be desirable or necessary to in connection therewith, it may be necessary that the Trustee appoint one an individual or more Persons to act institution as a co-separate trustee or co-trustees, or separate trustees, of all or any part trustee. The following provisions of this Indenture, and Section are adopted to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be requiredthese ends.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon In the event that the Trustee appoints an additional individual or institution as a separate trustee or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be conferred or imposed upon exercisable by and exercised or performed by the Trustee and vest in such separate trustee or co-trustee jointly (it being understood that but only to the extent necessary to enable such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in exercise such act)powers, except rights and remedies, and only to the extent that under any law the Trustee by the laws of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform is incapable of exercising such act or acts, in which event such rights, powers, duties rights and obligations shall be exercised remedies and performed singly every covenant and obligation necessary to the exercise thereof by such separate trustee or co-trustee, but solely at the direction trustee shall run to and be enforceable by either of the Trusteethem.
(2) No trustee hereunder shall Should any instrument in writing from the Company be personally liable required by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with so appointed by the Trustee for more fully and certainly vesting in and confirming to him or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every it such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remediespowers, trusts, duties and trusts obligations, any and all such instruments in writing shall, on request, be executed, acknowledged and delivered by the Company at the expense of the Company; provided, that if an Issuer Event of Default shall vest in have occurred and be exercised by continuing, if the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.Company does not execute any such instrument within fifteen
Appears in 1 contract
Samples: Indenture (NRG Energy Inc)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwisein which any part of the trust may at the time be located, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenturethe trust, and to vest in such Person or Persons, in such capacity and for the benefit of the HoldersNoteholders, such title to the trust, or any part hereof, and subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1i) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that that, under any law of any jurisdiction in which any particular act or acts are to be performed performed, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2ii) No no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3iii) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article 8. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Samples: Indenture (Grupo Supervielle S.A.)
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, time for the purpose of meeting any legal requirement of any jurisdiction or otherwisejurisdiction, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint for the appointment of one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 7.10 hereof and no notice to the Holders of the appointment of any co-trustee is or separate trustee shall be requiredrequired under Section 7.08 hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee.;
(2) the Trustee shall not be personally liable by reason of any act or omission of any co-trustee or separate trustee hereunder. No co-trustee hereunder shall be personally liable by reason of any act or omission of the Trustee, any separate trustee or any other co-trustee hereunder. No separate trustee hereunder shall be personally liable by reason of any act or omission of the Trustee, any co-trustee or any other separate trustee hereunder; and
(3) The the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12Article VII. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of his, her or its estates, properties, rights, remedies, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.
Appears in 1 contract
Appointment of Co-Trustee. (a) Notwithstanding any other provisions of this Indenture, at any time, for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirement law of any jurisdiction (including particularly the law of the State) denying or otherwise, restricting the Trustee shall have the power and may execute and deliver all instruments necessary right of banking corporations or associations to appoint one or more Persons to act transact business as a co-trustee or co-trustees, or separate trustees, in such jurisdiction. It is recognized that in the case of all or any part of litigation under this Indenture, and in particular in case of the enforcement of the rights of the Trustee on default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted, or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an additional individual or institution as a separate co-trustee. The following provisions of this Section 6.11 are adopted to these ends. In the event that the Trustee or the Authority appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such Person separate or Persons, in co-trustee but only to the extent necessary to enable such capacity and for the benefit of the Holders, separate or co-trustee to exercise such powers, duties, obligations, rights and trusts as remedies, and every covenant and obligation necessary to the Trustee may consider necessary exercise thereof by such separate or desirable. No co-trustee or separate trustee hereunder shall run to and be enforceable by either of them. Should any instrument in writing from the Authority be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required.
(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without so appointed by the Trustee joining or the Authority for more fully and certainly vesting in and confirming to it such act)properties, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, trusts, duties and obligations shall obligations, any and all such instruments in writing shall, on request, be exercised executed, acknowledged and performed singly delivered by such the Authority. In case any separate trustee or co-trustee, but solely at the direction of the Trustee.
(2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and
(3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given a successor to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferredeither, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its the estates, properties, rights, remediespowers, trusts, duties and trusts obligations of such separate trustee or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee, to the extent permitted by law, without Trustee until the appointment of a new trustee or successor to such separate trustee or co-trustee. Any co-trustee shall be bound by the standard of care, duties and obligations as the Trustee under this Indenture as if such co-trustee were the Trustee.
Appears in 1 contract
Samples: Indenture of Trust