Authority and Duties of the Trustee Sample Clauses

Authority and Duties of the Trustee. (a) The Trustee is authorized and directed to execute and deliver this Agreement, and to execute and deliver on behalf of the Trust, the Credit Documents and any other document or instrument attached as an Exhibit to, contemplated by, or necessary or incidental hereto, in such form as the Advisory Board shall approve, as evidenced conclusively by the Trustee's execution thereof. The execution and delivery of, and performance of the terms of any other document or instrument necessary or incidental hereto shall be deemed not to conflict with or constitute a breach or default under this Agreement. The Trustee shall have only such authority and shall perform such duties as are expressly set forth in this Agreement.
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Authority and Duties of the Trustee. Section 6.01
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Authority and Duties of the Trustee. (a) The Trustee shall have the authority to act on behalf of the Trust to carry out the purposes of the Trust and duties of the Trust under the Transaction Documents to which the Trust or the Trustee is a party. The Trustee is authorized and directed to execute and deliver this Agreement and the Participation Agreement and each certificate or other document attached as an exhibit to or contemplated by any such agreement, in such form as both Beneficial Owners shall approve subject to the terms of the Transaction Documents, as evidenced conclusively by the Trustee's execution thereof. The execution and delivery of, and performance of the terms of, the Participation Agreement, and each certificate or other document attached as an exhibit to or otherwise expressly contemplated by any such agreement shall be deemed not to conflict with or constitute a breach or default under this Agreement. The Trustee shall have only such authority and duties as are expressly set forth in this Agreement. Upon the written instruction of both Beneficial Owners, the Trustee shall amend the Certificate of Trust or this Agreement, and shall execute, acknowledge, deliver, file or record any document or instrument necessary or appropriate to carry out the provisions of this Agreement, and the Participation Agreement in such form as is provided to it; provided that such action does not alter the rights, powers and duties of the Trustee as set forth in this Article VII.
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Authority and Duties of the Trustee. (a) The Trustee is authorized and directed to execute and deliver this Agreement, the Participation Agreement, the Chaparral LLC Agreement, the Indenture, the Security Agreement, the Remarketing Agreement, the Closing Agreement, the Dealer Manager Agreement, the New Indenture, any other Transaction Document to which the Trust or the Trustee is a party, and each certificate or other document attached as an exhibit to or contemplated by any such agreement, which agreements, or amendments thereto, as applicable (other than the Commencement Date Documents), may be declared effective by the Trustee upon receipt of notice from the Certificateholders that all conditions precedent set forth in Section 5 of the Closing Agreement have been satisfied. The execution and delivery of, and performance of the terms of, the Participation Agreement, the Chaparral LLC Agreement, the Indenture, the Security Agreement, the Remarketing Agreement, the Closing Agreement, the Dealer Manager Agreement, the New Indenture and each certificate of other document attached as an exhibit to or otherwise expressly contemplated by any such agreement shall be deemed not to conflict with or constitute a breach or default under this Agreement. The Trustee shall have only such authority and duties as are expressly set forth in this Agreement. Subject to Sections 10.02 and 12.04, the Trustee shall, upon the written instruction of the Majority Certificateholders (and the holder of the El Paso Interest with respect to clause (i) below), (i) amend the Certificate of Trust or this Agreement and (ii) execute, acknowledge, deliver, file or record any document or instrument necessary or appropriate to carry out the provisions of this Agreement, the Participation Agreement, the Chaparral LLC Agreement, the Indenture, the Security Agreement, the Remarketing Agreement, the Closing Agreement, the Dealer Manager Agreement or the New Indenture in such form as is provided to it; provided that such action does not alter the rights, powers and duties of the Trustee as set forth in this Article IX.
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Authority and Duties of the Trustee 
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Related to Authority and Duties of the Trustee

  • AUTHORITY AND DUTIES OF THE OWNER TRUSTEE ACTION BY CERTIFICATEHOLDERS

  • Powers and Duties of the Trustee The rights, powers, duties and authorities of the Trustee under this Agreement, in its capacity as Trustee of the Trust, shall include:

  • Authority and Duties of Owner Trustee Section 6.01.

  • Appointment Authority and Duties of Agent 12.1.1. Each Lender hereby irrevocably appoints and designates Fleet as Agent to act as herein specified. Agent may, and each Lender by its acceptance of a Note shall be deemed irrevocably to have authorized Agent to, enter into all Loan Documents to which Agent is or is intended to be a party and all amendments hereto and all Security Documents at any time executed by Borrower, for its benefit and the Pro Rata benefit of Lenders and, except as otherwise provided in this Section 12, to exercise such rights and powers under this Agreement and the other Loan Documents as are specifically delegated to Agent by the terms hereof and thereof, together with such other rights and powers as are reasonably incidental thereto. Each Lender agrees that any action taken by Agent or the Required Lenders in accordance with the provisions of this Agreement or the other Loan Documents, and the exercise by Agent or the Required Lenders of any of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all Lenders. Without limiting the generality of the foregoing, Agent shall have the sole and exclusive right and authority to (a) act as the disbursing and collecting agent for Lenders with respect to all payments and collections arising in connection with this Agreement and the other Loan Documents; (b) execute and deliver as Agent each Loan Document and accept delivery of each such agreement delivered by Borrower or any other Obligor; (c) act as collateral agent for Lenders for purposes of the perfection of all security interests and Liens created by this Agreement or the Security Documents with respect to all material items of the Collateral and, subject to the direction of the Required Lenders, for all other purposes stated therein, provided that Agent hereby appoints, authorizes and directs each Lender to act as a collateral sub-agent for Agent and the other Lenders for purposes of the perfection of all security interests and Liens with respect to Borrower's Deposit Accounts maintained with, and all cash and Cash Equivalents held by, such Lender; (d) subject to the direction of the Required Lenders, manage, supervise or otherwise deal with the Collateral; and (e) except as may be otherwise specifically restricted by the terms of this Agreement and subject to the direction of the Required Lenders, exercise all remedies given to Agent with respect to any of the Collateral under the Loan Documents relating thereto, Applicable Law or otherwise. The duties of Agent shall be ministerial and administrative in nature, and Agent shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship with any Lender (or any Lender's participants). Unless and until its authority to do so is revoked in writing by Required Lenders, Agent alone shall be authorized to determine whether any Accounts or Inventory constitute Eligible Accounts or Eligible Inventory (basing such determination in each case upon the meanings given to such terms in Appendix A), or whether to impose or release any reserve, and to exercise its own credit judgment in connection therewith, which determinations and judgments, if exercised in good faith, shall exonerate Agent from any liability to Lenders or any other Person for any errors in judgment.

  • Authority and Duties All officers, as between themselves and the Corporation, shall have such authority and perform such duties in the management of the Corporation as may be provided in these By-laws or, to the extent so provided, by the Board.

  • Powers and Duties of the Guarantee Trustee (a) This Guarantee shall be held by the Guarantee Trustee for the benefit of the Holders of the Capital Securities, and the Guarantee Trustee shall not transfer this Guarantee to any Person except a Holder of Capital Securities exercising his or her rights pursuant to Section 4.4(b) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee. The right, title and interest of the Guarantee Trustee shall automatically vest in any Successor Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trustee.

  • Authority and Duties of Officers All officers of the Corporation shall respectively have such authority and perform such duties in the management of the business of the Corporation as may be provided herein or designated from time to time by the Board and, to the extent not so provided, as generally pertain to their respective offices, subject to the control of the Board.

  • Powers and Duties of the Property Trustee (a) The legal title to the Debentures shall be owned by and held of record in the name of the Property Trustee for the benefit of the Trust and the Holders of the Securities. The right, title and interest of the Property Trustee to the Debentures shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.6. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Debentures have been executed and delivered.

  • Appointment and Duties of the Manager (a) The Company hereby appoints the Manager to manage the assets of the Company subject to the further terms and conditions set forth in this Agreement and the Manager hereby agrees to use its commercially reasonable efforts to perform each of the duties set forth herein. The appointment of the Manager shall be exclusive to the Manager except to the extent that the Manager otherwise agrees, in its sole and absolute discretion, and except to the extent that the Manager elects, pursuant to the terms of this Agreement, to cause the duties of the Manager hereunder to be provided by third parties.

  • Duties of the Trustee The Trustee, before the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement. The Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order, or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that, unless an Event of Default known to the Trustee has occurred and is continuing,

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