Common use of Authority to Carry on Business Clause in Contracts

Authority to Carry on Business. The Debenture Trustee represents to the Trust that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2.

Appears in 6 contracts

Samples: Trust Indenture (Penn West Energy Trust), Trust Indenture (Pengrowth Energy Trust), Trust Indenture (Penn West Energy Trust)

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Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province all Provinces and Territories of Alberta Canada but if, notwithstanding the provisions of this Section 15.14Section, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall will not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shallwill, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of AlbertaQuébec, either become so authorized or resign in the manner and with the effect specified in Section 15.2.

Appears in 2 contracts

Samples: Trust Indenture (IntelGenx Technologies Corp.), Trust Indenture (IntelGenx Technologies Corp.)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1413.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.213.1.

Appears in 1 contract

Samples: Convertible Secured Debenture Indenture

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1415.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.215.2 .

Appears in 1 contract

Samples: Convertible Debenture Indenture (Transglobe Energy Corp)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Note Indenture it is authorized to carry on the business of a trust company corporation in the Province of Alberta Alberta, but if, notwithstanding the provisions of this Section 15.14section 11.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Note Indenture and the securities issued hereunder Notes shall not be affected in any manner whatsoever by reason only of such event event, but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company corporation in the Province of Alberta, Alberta either become so authorized or resign in the manner and with the effect specified in Section 15.2section 11.2.

Appears in 1 contract

Samples: Note Indenture (Enterra Energy Trust)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1415.9, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.215.6.

Appears in 1 contract

Samples: Note Indenture (PENGROWTH ENERGY Corp)

Authority to Carry on Business. The Debenture Indenture Trustee represents to the Trust that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1411.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Indenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province Provinces of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.211.2.

Appears in 1 contract

Samples: Trust Indenture (Baytex Energy Trust)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province provinces of Alberta and British Columbia but if, notwithstanding the provisions of this Section 15.1413.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.213.2.

Appears in 1 contract

Samples: Indenture (Sundial Growers Inc.)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Acquiror and Exchangeco that at the date of execution and delivery by it of this Indenture Agreement it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.146.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture Agreement and the securities issued hereunder Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2Article 9.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Magnum Hunter Resources Corp)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Dreco and NOI that at the date of execution and delivery by it of this Indenture agreement it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.147.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture agreement and the securities issued hereunder Voting Rights, the Exchange Put Right, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but event; provided, however, the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2Article X hereof.

Appears in 1 contract

Samples: Combination Agreement (National Oilwell Inc)

Authority to Carry on Business. The Debenture Trustee represents to the Trust FCE and ExchangeCo that at the date of execution and delivery by it of this Indenture Agreement it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.146.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture Agreement and the securities issued hereunder Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2Article 10.

Appears in 1 contract

Samples: Combination Agreement (Fuelcell Energy Inc)

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Authority to Carry on Business. The Debenture Trustee represents to the Trust that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1414.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.214.2.

Appears in 1 contract

Samples: Trust Indenture (Penn West Energy Trust)

Authority to Carry on Business. The Debenture Indenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province Provinces of Alberta and British Columbia but if, notwithstanding the provisions of this Section 15.1413.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Indenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, Alberta either become so authorized or resign in the manner and with the effect specified in Section 15.213.2.

Appears in 1 contract

Samples: Trust Indenture

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1414.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.214.2.

Appears in 1 contract

Samples: Trust Indenture (Gastar Exploration LTD)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Company that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province Provinces of British Columbia and Alberta but if, notwithstanding the provisions of this Section 15.1414.18, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province Provinces of British Columbia and Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.214.2.

Appears in 1 contract

Samples: Trust Indenture (Timberwest Forest Corp)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1415.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2.

Appears in 1 contract

Samples: Convertible Debenture Indenture (Transglobe Energy Corp)

Authority to Carry on Business. The Debenture Trustee represents to the Trust Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta Québec but if, notwithstanding the provisions of this Section 15.14Section, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall will not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shallmust, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of AlbertaQuébec, either become so authorized or resign in the manner and with the effect specified in Section 15.2.

Appears in 1 contract

Samples: Trust Indenture (Boralex Inc.)

Authority to Carry on Business. The Debenture Trustee represents to the Trust and AcquisitionCo that at the date of execution and delivery by it of this Indenture Agreement it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture Agreement and the securities issued hereunder Special Voting Right, the Exchange Rights and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Enterra Energy Trust)

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