Common use of Bond Trustee Clause in Contracts

Bond Trustee. (a) The Parent and Smurfit Kappa Funding will each procure that, if the Bond Trustee ceases to act as trustee for any reason in relation to any Cash Pay Securities, any successor or other person which is appointed or acts as trustee in relation to those Cash Pay Securities (a “Replacement Bond Trustee”) will become party to this Deed as the Bond Trustee by executing and delivering to the Security Agent a Deed of Accession in form and substance satisfactory to the Security Agent acting reasonably. (b) The Bond Trustee (on behalf of the Securities Creditors) by its execution of this Deed, and any Replacement Bond Trustee (on behalf of the Securities Creditors) by its execution of a Deed of Accession to this Deed, acknowledges and agrees as follows: (i) that to the extent and in the manner set out in any of the indentures (as supplemented and amended from time to time) (the “Indentures”) under which the Cash Pay Securities are issued, the payment of all Senior Subordinated Guarantee Debt is expressly made subordinate to and subject in right of payment to the prior payment in full in cash of all Senior Debt and Hedging Debt; (ii) that the Senior Debt and Hedging Debt each qualify as “Senior Debt” for the purposes of and as such term is defined in the Indentures; (iii) that the Senior Creditors and the Hedging Banks are entitled to rely on and enforce (A) the subordination provisions contained in the Indentures and (B) the provisions in the Indentures restricting the circumstances in which a demand may be made under the Senior Subordinated Guarantee; and (iv) that it accepts any Transfer Certificate, Accession Deed or Deed of Accession and the accession by the relevant parties to such agreements to this Deed in the capacity described therein. For the avoidance of doubt, the Bond Trustee or a Replacement Bond Trustee (as the case may be) hereby waives any right to approve, or of objection to, the accession or identity of such persons and confirms that it hereby waives any obligation on the part of a party to procure the Bond Trustee’s or the Replacement Bond Trustee’s (as the case may be) counter-signature or acceptance of any such Transfer Certificate, Accession Deed or Deed of Accession.

Bond Trustee. (a) The Parent and Smurfit Kappa Funding Newco 1 will each procure that, that prior to the issue of any of the Cash Pay Securities any entity which is appointed or acting as trustee in relation to any such Cash Pay Securities (and if the Bond Trustee such entity ceases to act as trustee for any reason in relation to any Cash Pay Securities, any successor or other person which is appointed or acts as trustee in relation to those Cash Pay Securities (a “Replacement Bond Trustee”trustee) will become party to this Deed Agreement as the Bond Trustee by executing and delivering to the Security Agent a Deed of Accession in form and substance satisfactory to the Security Agent acting reasonably. (b) The Bond Trustee (on behalf of the Securities Creditors) by its execution of this Deed, and any Replacement Bond Trustee (on behalf of the Securities Creditors) by its execution of a Deed of Accession to this DeedAgreement, acknowledges and agrees as follows: (i) that to the extent and in the manner set out in any of the indentures (as supplemented and amended from time to time) (the “Indentures”INDENTURES) under which the Cash Pay Securities are issued, the payment of all Senior Subordinated Guarantee Debt is expressly made subordinate to and subject in right of payment to the prior payment in full in cash of all Senior Debt, Hedging Debt and Hedging Spanish Bond Debt; (ii) that the Senior Debt, Hedging Debt and Hedging Spanish Bond Debt each qualify as “"Senior Debt” " for the purposes of and as such term is defined in the Indentures; (iii) that the Senior Creditors and Creditors, the Hedging Banks and the Spanish Bond Creditors are entitled to rely on and enforce (A) the subordination provisions contained in the Indentures and (B) the provisions in the Indentures restricting the circumstances in which a demand may be made under the Senior Subordinated Guarantee; and (iv) that it accepts any Transfer Certificate, Accession Deed or Deed of Accession and the accession by the relevant parties to such agreements to this Deed Agreement in the capacity described therein. For the avoidance of doubt, the Bond Trustee or a Replacement Bond Trustee (as the case may be) hereby waives any right to approve, or of objection to, the accession or identity of such persons and confirms that it hereby waives any obligation on the part of a party to procure the Bond Trustee’s or the Replacement Bond Trustee’s (as the case may be) 's counter-signature or acceptance of any such Transfer Certificate, Accession Deed or Deed of Accession.

Bond Trustee. (a) The Parent and Smurfit Kappa JSG Funding will each procure that, if the Bond Trustee ceases to act as trustee for any reason in relation to any Cash Pay Securities, any successor or other person which is appointed or acts as trustee in relation to those Cash Pay Securities (a “Replacement Bond Trustee”) will become party to this Deed as the Bond Trustee by executing and delivering to the Security Agent a Deed of Accession in form and substance satisfactory to the Security Agent acting reasonably. (b) The Bond Trustee (on behalf of the Securities Creditors) by its execution of this Deed, and any Replacement Bond Trustee (on behalf of the Securities Creditors) by its execution of a Deed of Accession to this Deed, acknowledges and agrees as follows: (i) that to the extent and in the manner set out in any of the indentures (as supplemented and amended from time to time) (the “Indentures”) under which the Cash Pay Securities are issued, the payment of all Senior Subordinated Guarantee Debt is expressly made subordinate to and subject in right of payment to the prior payment in full in cash of all Senior Debt and Hedging Debt; (ii) that the Senior Debt and Hedging Debt each qualify as “Senior Debt” for the purposes of and as such term is defined in the Indentures; (iii) that the Senior Creditors and the Hedging Banks are entitled to rely on and enforce (A) the subordination provisions contained in the Indentures and (B) the provisions in the Indentures restricting the circumstances in which a demand may be made under the Senior Subordinated Guarantee; and (iv) that it accepts any Transfer Certificate, Accession Deed or Deed of Accession and the accession by the relevant parties to such agreements to this Deed in the capacity described therein. For the avoidance of doubt, the Bond Trustee or a Replacement Bond Trustee (as the case may be) hereby waives any right to approve, or of objection to, the accession or identity of such persons and confirms that it hereby waives any obligation on the part of a party to procure the Bond Trustee’s or the Replacement Bond Trustee’s (as the case may be) counter-signature or acceptance of any such Transfer Certificate, Accession Deed or Deed of Accession.

Bond Trustee. (a) The Parent and Smurfit Kappa Funding will each procure that, if the Bond Trustee ceases to act as trustee for any reason in relation to any Cash Pay Securities, any successor or other person which is appointed or acts as trustee in relation to those Cash Pay Securities (a “Replacement Bond Trustee”) will become party to this Deed as the Bond Trustee by executing and delivering to the Security Agent a Deed of Accession in form and substance satisfactory to the Security Agent acting reasonably. (b) The Bond Trustee (on behalf of the Securities Creditors) by its execution of this Deed, and any Replacement Bond Trustee (on behalf of the Securities Creditors) by its execution of a Deed of Accession to this Deed, acknowledges and agrees as follows: (i) that to the extent and in the manner set out in any of the indentures (as supplemented and amended from time to time) (the “Indentures”) under which the Cash Pay Securities Additional Notes are issued, the payment of all Senior Subordinated Guarantee Debt is expressly made subordinate to and subject in right of payment to the prior payment in full in cash of all Senior Debt, Hedging Debt and Hedging Spanish Bond Debt; (ii) that the Senior Debt, Hedging Debt and Hedging Spanish Bond Debt each qualify as “Senior Debt” for the purposes of and as such term is defined in the Indentures; (iii) that the Senior Creditors and Creditors, the Hedging Banks and the Spanish Bond Creditors are entitled to rely on and enforce (A) the subordination provisions contained in the Indentures and (B) the provisions in the Indentures restricting the circumstances in which a demand may be made under the Senior Subordinated Guarantee; and (iv) that it accepts any Transfer Certificate, Accession Deed or Deed of Accession and the accession by the relevant parties to such agreements to this Deed Agreement in the capacity described therein. For the avoidance of doubt, the Bond Trustee or a Replacement Bond Trustee (as the case may be) hereby waives any right to approve, or of objection to, the accession or identity of such persons and confirms that it hereby waives any obligation on the part of a party to procure the Bond Trustee’s or the Replacement Bond Trustee’s (as the case may be) counter-signature or acceptance of any such Transfer Certificate, Accession Deed or Deed of Accession.