Common use of Collection of Debt and Suits for Enforcement by Trustee Clause in Contracts

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default in payment of principal, premium or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any series, the Company shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that series, the whole amount then due and payable on Securities of that series for principal, premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation to, and expenses, disbursements and advances of the Trustee and its agents and counsel and all other amounts due the Trustee under Section 9.7. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that series, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 7 contracts

Samples: Indenture (Sally Investment Holdings LLC), Indenture (Sally Investment Holdings LLC), Indenture (Sally Beauty Holdings, Inc.)

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Collection of Debt and Suits for Enforcement by Trustee. The Each of the Company and the Guarantor covenants that if an Event of Default in payment of principal, premium or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any series, the Company or the Guarantor shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that series, the whole amount then due and payable on Securities of that series for principal, premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to, and expenses, disbursements and advances of the Trustee and its agents and counsel and all other amounts due the Trustee under Section 9.7. If the Company or the Guarantor fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that series, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company Company, the Guarantor or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Company, the Guarantor or any other obligor upon such Securities, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 5 contracts

Samples: Senior Indenture (Mohawk Industries Inc), Senior Indenture (Mohawk Capital Luxembourg SA), Senior Subordinated Indenture (Mohawk Capital Luxembourg SA)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if (a) default is made in the payment of principalany interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, premium or (b) default is made in the payment of the principal of or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of premium, if any, on any seriesSecurity at the Stated Maturity thereof, the Company shallwill, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that seriessuch Securities, the whole amount then due and payable on such Securities of that series for principalprincipal and premium, premium (if any), and interest, with interest upon the overdue principal and premium, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal (and premium, if any), and on any overdue installments of interest, at the rate borne by such the Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon within 3 Business Days of such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree decree, and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such the Securities, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series under this Indenture by such appropriate private or judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy, subject however to Section 5.12. No recovery of any such judgment upon any property of the Company shall affect or impair any rights, powers or remedies of the Trustee or the Holders.

Appears in 4 contracts

Samples: Indenture (Park Place Entertainment Corp), Indenture (Park Place Entertainment Corp), Indenture (Park Place Entertainment Corp)

Collection of Debt and Suits for Enforcement by Trustee. (1) The Company Issuer covenants that if an Event of Default if: (a) default is made in the payment of principalany installment of principal of (or premium, premium if any, on) of any Note or interest specified in clause on any Note when such installment of principal (ior premium) or interest becomes due and payable and such default continues for a period of 30 consecutive days; or (iib) default is made in the payment of Section 8.1 hereof occurs and is continuing with respect to Securities the principal of (or premium, if any, on) any seriesNote at the Maturity Date of such Note, then the Company shallIssuer will, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of Securities of that seriessuch Notes, the whole amount then due and payable on Securities of that series such Notes for principalprincipal (and premium, premium (if any), ) and interest, if any, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by or rates prescribed therefor in such SecuritiesNotes, and, in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee Trustee, and its the Trustee’s agents and counsel and all other amounts due the Trustee under Section 9.7. counsel. (2) If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, upon receipt of a notice in its own name and as trustee of an express trust in favor of writing to the Trustee by the Holders of Securities not less than 25% in principal amount of the Outstanding Notes of that seriesSeries and upon being sufficiently indemnified to the Trustee’s reasonable satisfaction against all costs, may expenses and liabilities to be incurred, may, in its name as the Trustee hereunder institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company Issuer or any other obligor upon the Securities of that series such Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer or any other obligor upon such SecuritiesNotes, wherever situated. . (3) If an Event of Default with respect to Notes of any Series (or of all Series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its the Trustee’s rights and the rights of the Holders of Securities Notes of that series such Series (or of all Series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 3 contracts

Samples: Indenture (Brookfield Renewable Corp), Indenture (Brookfield Renewable Partners L.P.), Indenture (Brookfield Property Partners L.P.)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if (1) default is made in the payment of principalany interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, premium or (2) default is made in the payment of all or interest specified in clause any part of the principal of (ior premium, if any, on) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any seriesSecurity at the Maturity thereof, the Company shallwill, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that seriessuch Securities, the whole amount then due and payable on such Securities of that series for principalprincipal (and premium, premium (if any), ) and interest, and, to the extent that payment of such interest shall be legally legal and enforceable, interest on any overdue principal (and premium, if any), ) and on any overdue interest, at the rate borne by such the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts amount forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such the Securities, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 3 contracts

Samples: Indenture (Cii Financial Inc), Indenture (Sierra Health Services Inc), Indenture (Cii Financial Inc)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default in payment of principal, premium or interest specified in clause (iSection 501(a) or (iib) of Section 8.1 hereof occurs and is continuing with respect to Securities of any seriesoccurs, the Company shallwill, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of Securities of that seriessuch Notes, the whole amount then due and payable on Securities of that series such Notes for principalprincipal (and premium, premium (if any), ) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal (and premium, if any), and on any overdue installment of interest, at the rate borne by such Securitiesthe Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securitiesthe Notes, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 3 contracts

Samples: Indenture (Teligent Inc), Indenture (Teligent Inc), Indenture (Teligent Inc)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default in payment of principal, premium or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any series, the Company shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that series, the whole amount then due and payable on Securities of that series for principal, premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to, and expenses, disbursements and advances of the Trustee and its agents and counsel and all other amounts due the Trustee under Section 9.7. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that series, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 2 contracts

Samples: Indenture (Mohawk Industries Inc), Indenture (Mohawk Industries Inc)

Collection of Debt and Suits for Enforcement by Trustee. (a) The Company Issuer covenants that if an Event of Default if (1) default is made in the payment of principalany installment of principal of (or premium, premium if any, on) of any Security or interest specified in clause on any Security and any related coupon when such installment of principal (ior premium) or interest becomes due and payable and such default continues for a period of 30 consecutive days, or (ii2) default is made in the payment of Section 8.1 hereof occurs and is continuing with respect to Securities the principal of (or premium, if any, on) any seriesSecurity at the Maturity of such Security, then the Company shallIssuer will, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of such Securities of that seriesand coupons, the whole amount then due and payable on such Securities of that series and coupons for principalprincipal (and premium, premium (if any), ) and interest, if any, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7. counsel. (b) If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, upon receipt of a notice in its own name and as trustee of an express trust in favor of writing to the Trustee by the Holders of not less than 25% in principal amount of the Outstanding Securities of that seriesseries and upon being sufficiently indemnified to its reasonable satisfaction against all costs, may expenses and liabilities to be incurred, may, in its name as Trustee hereunder institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company Issuer or any other obligor upon the such Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer or any other obligor upon such Securities, wherever situated. . (c) If an Event of Default with respect to Securities of any series (or of all series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series (or of all series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. SECTION 505. Trustee May File Proofs of Claim (a) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Issuer or any other obligor upon the Securities or the property of the Issuer or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Issuer for the payment of overdue principal, premium, if any, or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, (1) to file and prove a claim for the whole amount of principal (and premium, if any), or such portion of the principal amount of any series of Original Issue Discount Securities or Indexed Securities as may be specified in the terms of such series, and interest, if any, owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and (2) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 605. (b) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding except as aforesaid, for the electing of a trustee in bankruptcy or other person performing similar functions.

Appears in 2 contracts

Samples: Indenture (Brookfield Canada Office Properties), Indenture (Brookfield Canada Office Properties)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if: (1) default is made in the payment of principalany installment of interest on any Security and any related coupon when such interest becomes due and payable and such default continues for a period of 30 days; or (2) default is made in the payment of the principal of, premium or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of premium, if any, on, any series, Security at the Maturity thereof; then the Company shallwill, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of such Securities of that seriesand coupons, the whole amount then due and payable on such Securities of that series and coupons for principal, premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and interest, if any, and interest on any overdue principal, and premium, if any, and on any overdue interest, at the rate borne by or rates prescribed therefor in such Securities, and, in addition thereto, such further amount amounts as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the such Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. If an Event of Default with respect to Securities of any series (or of all series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series (or of all series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 2 contracts

Samples: Indenture (Petro Canada), Indenture (Precision Drilling Corp)

Collection of Debt and Suits for Enforcement by Trustee. The Company Issuer covenants that if an Event of Default in payment of principal, premium or interest specified in clause if: (i) or in case default is made in the payment of any installment of interest on any Note when such interest becomes due and payable and such default continues for a period of 10 Business Days, or (ii) default is made in the payment of Section 8.1 hereof occurs the principal of and is continuing with respect to Securities of the Make-Whole Amount, if any, on any seriesNote at the Maturity thereof, then the Company shallIssuer will, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that seriessuch Notes, the whole principal amount then due and payable on Securities of that series for principalthereof, premium (plus the Make-Whole Amount, if any), with interest upon the overdue principal and interest, the Make-Whole Amount and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal (and premium, if any), and on any overdue installments of interest, at the rate borne by such Securitiesthe Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation to, collection and expenses, disbursements and advances of all amounts payable to the Trustee and its agents and counsel and all other amounts due the any predecessor Trustee under Section 9.76.06. If the Company Issuer fails to pay such any amounts required under this Section 5.02 forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree decree, and may enforce the same against the Company Issuer or any other obligor upon the Securities of that series Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer or any other obligor upon such Securitiesthe Notes, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series Notes by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, herein or to enforce any other proper remedy.

Appears in 2 contracts

Samples: Indenture (Corporate Realty Consultants Inc), Indenture (Corporate Realty Consultants Inc)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default in payment of principal, premium or interest specified in clause if: (i) or default is made in the payment of any interest on any Security of any series when such interest becomes due and payable and such default continues for a period of 30 days; or (ii) default is made in the payment of Section 8.1 hereof occurs and is continuing with respect to Securities the principal of any seriesSecurity of any series on a Maturity Date, the Company shallwill, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that seriessuch Securities, the whole amount then due and payable on such Securities of that series for principal, premium (if any), principal and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that series, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situatedcounsel. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or the Security Documents or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. Each Holder, by accepting a Security, acknowledges that the exercise of remedies by the Trustee with respect to the Collateral is subject to the terms and conditions of the Security Documents and the proceeds received upon realization of the Collateral shall be applied by the Trustee in accordance with Section 8.6.

Appears in 2 contracts

Samples: Indenture (Bayou Steel Corp), Indenture (River Road Realty Corp)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default in payment of principal, premium or interest specified in clause Section 501(a), (ib) or (iic) of Section 8.1 hereof occurs and is continuing with respect to Securities of any seriesoccurs, the Company shallwill, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of such Securities (or the Holders of that seriesany series in the case of 501(c)), the whole amount then due and payable on such Securities (or on the Securities of that any such series in the case of 501(c)) for principalprincipal (and premium, premium (if any), ) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal (and premium, if any), and on any overdue installment of interest, at the such rate borne or rates prescribed therefor by the terms of any such Security (or of Securities of any such series in the case of 501(c)) by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such the Securities, wherever situated. If an Event of Default with respect to any series of Securities occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 2 contracts

Samples: Senior Indenture (Teligent Inc), Subordinated Indenture (Teligent Inc)

Collection of Debt and Suits for Enforcement by Trustee. The Company Corporation covenants that if an Event of Default if: (1) default is made in the payment of principalany installment of interest (including any Additional Interest) on any Security when such interest becomes due and payable and such default continues for a period of 30 days, premium or interest specified or (2) default is made in clause the payment of the principal of (iand premium, if any, on) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any seriesSecurity at the Maturity thereof, the Company shallCorporation will, upon demand of the Trustee, pay to itthe Trustee, for the benefit of the Holders of Securities of that seriessuch Securities, the whole amount then due and payable on such Securities of that series for principal, premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any) and interest (including any Additional Interest), and on any overdue interest, at the rate borne by such Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation to, and expenses, disbursements and advances of the Trustee and its agents and counsel and all other amounts due owing the Trustee under Section 9.76.7. If the Company Corporation fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree decree, and may enforce the same against the Company Corporation or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Corporation or any other obligor upon such the Securities, wherever situated. If an Event of Default with respect to the Securities occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Riggs National Corp), Junior Subordinated Indenture (Riggs Capital Ii)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default in payment of principal, premium or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any series, the Company shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of that series, the whole amount then due and payable on Securities of that series for principal, premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including compensation to, and expenses, disbursements and advances of the Trustee and its agents and counsel and all other amounts due the Trustee under Section 9.7. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that series, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Transocean RIGP DIN Opco LTD)

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Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if (a) default is made in the payment of principalany interest on any Security of a series when such interest becomes due and payable and such default continues for a period of 30 days, premium or (b) default is made in the payment of the principal of (or interest specified premium, if any, on) any Security of a series at the Stated Maturity thereof or in clause (i) or (ii) any payment on such Security required in connection with a Change of Section 8.1 hereof occurs and is continuing with respect to Securities of any seriesControl, the Company shallwill, upon written demand of the Trustee, pay to it, for the benefit of the Holders of such Securities of that such series, the whole amount then due and payable on such Securities of that such series for principalprincipal (and premium, premium (if any), ) and interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), ) and on any overdue interest, at the rate borne by or rates prescribed therefor in such SecuritiesSecurities of such series, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the such Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. If an any Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Midamerican Energy Holdings Co /New/)

Collection of Debt and Suits for Enforcement by Trustee. (a) The Company covenants Issuers covenant that if an Event of Default if (1) default is made in the payment of principalany installment of principal of (or premium, premium if any, on) of any Note or interest specified in clause on any Note and any related coupon when such installment of principal (ior premium) or interest becomes due and payable and such default continues for a period of 30 consecutive days, or (ii2) default is made in the payment of Section 8.1 hereof occurs and is continuing with respect to Securities the principal of (or premium, if any, on) any seriesNote at the Maturity of such Note, then the Company shallIssuers will, upon demand of the TrusteeTrustee or Trustees, pay to it, the Trustee or Trustees for the benefit of the Holders of Securities of that seriessuch Notes and coupons, the whole amount then due and payable on Securities of that series such Notes and coupons for principalprincipal (and premium, premium (if any), ) and interest, if any, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by or rates prescribed therefor in such SecuritiesNotes, and, in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee or Trustees, and its such Trustee’s or Trustees’ agents and counsel and all other amounts due the Trustee under Section 9.7. counsel. (b) If the Company fails Issuers fail to pay such amounts forthwith upon such demand, the TrusteeTrustee or Trustees, upon receipt of a notice in its own name and as trustee of an express trust in favor of writing to the Trustee or Trustees by the Holders of Securities not less than 25% in principal amount of the Outstanding Notes of that seriesSeries and upon being sufficiently indemnified to such Trustee’s or Trustees’ reasonable satisfaction against all costs, may expenses and liabilities to be incurred, may, in their name as Trustee or Trustees hereunder institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company Issuers or any other obligor upon the Securities of that series such Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuers or any other obligor upon such SecuritiesNotes, wherever situated. . (c) If an Event of Default with respect to Notes of any Series (or of all Series, as the case may be) occurs and is continuing, the Trustee or Trustees may in its such Trustee’s or Trustees’ discretion proceed to protect and enforce its such Trustee’s or Trustees’ rights and the rights of the Holders of Securities Notes of that series such Series (or of all Series, as the case may be) by such appropriate judicial proceedings as the Trustee or Trustees shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Brookfield Infrastructure Partners L.P.)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants and each Guarantor covenants, in each case, that if an Event of Default if (1) default is made in the payment of principal, premium any installment of interest on or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing any Additional Amounts with respect to Securities any Security or any Coupon appertaining thereto when such interest or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or (2) default is made in the payment of the principal of or any seriespremium on any Security or any Additional Amounts with respect thereto at their Maturity, the Company or such Guarantor, as the case may be, shall, upon demand of the Trustee, pay to itthe Trustee, for the benefit of the Holders of such Securities of that seriesand any Coupons appertaining thereto, the whole amount of money then due and payable on with respect to such Securities of that series for and any Coupons appertaining thereto, with interest upon the overdue principal, any premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal (installments of interest and premium, if any), and on any overdue interest, Additional Amounts at the rate or rates borne by or provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due to the Trustee under Section 9.76.6. If the Company or any Guarantor fails to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree decree, and may enforce the same against the Company or the Guarantors or any other obligor upon the such Securities of that series and any Coupons appertaining thereto and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or the Guarantors or any other obligor upon such SecuritiesSecurities and any Coupons appertaining thereto, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series and any Coupons appertaining thereto by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Cintas Corp)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if (1) default is made in the payment of principal, premium any installment of interest on or interest specified in clause (i) or (ii) of Section 8.1 hereof occurs and is continuing any Additional Amounts with respect to Securities any Security or any Coupon appertaining thereto when such interest or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or (2) default is made in the payment of the principal of or any seriespremium on any Security or any Additional Amounts with respect thereto at their Maturity, the Company shall, upon demand of the Trustee, pay to itthe Trustee, for the benefit of the Holders of such Securities of that seriesand any Coupons appertaining thereto, the whole amount of money then due and payable on with respect to such Securities of that series for and any Coupons appertaining thereto, with interest upon the overdue principal, any premium (if any), and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal (installments of interest and premium, if any), and on any overdue interest, Additional Amounts at the rate or rates borne by or provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due to the Trustee under Section 9.76.6. If the Company fails to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree decree, and may enforce the same against the Company or any other obligor upon the such Securities of that series and any Coupons appertaining thereto and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such SecuritiesSecurities and any Coupons appertaining thereto, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series and any Coupons appertaining thereto by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Meridian Bioscience Inc)

Collection of Debt and Suits for Enforcement by Trustee. (a) The Company Issuer covenants that if an Event of Default if (1) default is made in the payment of principalany installment of principal of (or premium, premium if any, on) of any Security or interest specified in clause on any Security and any related coupon when such installment of principal (ior premium) or interest becomes due and payable and such default continues for a period of 30 consecutive days, or (ii2) default is made in the payment of Section 8.1 hereof occurs and is continuing with respect to Securities the principal of (or premium, if any, on) any seriesSecurity at the Maturity of such Security, then the Company shallIssuer will, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of such Securities of that seriesand coupons, the whole amount then due and payable on such Securities of that series and coupons for principalprincipal (and premium, premium (if any), ) and interest, if any, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), and on any overdue interest, at the rate borne by or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7. counsel. (b) If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, upon receipt of a notice in its own name and as trustee of an express trust in favor of writing to the Trustee by the Holders of not less than 25% in principal amount of the Outstanding Securities of that seriesseries and upon being sufficiently indemnified to its reasonable satisfaction against all costs, may expenses and liabilities to be incurred, may, in its name as Trustee hereunder institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company Issuer or any other obligor upon the such Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer or any other obligor upon such Securities, wherever situated. . (c) If an Event of Default with respect to Securities of any series (or of all series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series (or of all series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Brookfield Office Properties Canada)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if (1) default is made in the payment of principalany interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, premium or (2) default is made in the payment of the principal of (or interest specified in clause (ipremium, if any, on) or (ii) of Section 8.1 hereof occurs and is continuing any Security at the Maturity thereof or, with respect to Securities of any seriesSecurity required to have been purchased pursuant to an Offer to Purchase made by the Company, at the Purchase Date thereof, the Company shallwill, upon demand of the TrusteeTrustee or the Holders of not less than 25% in principal amount of the Outstanding Securities, pay to itthe Trustee, for the benefit of the Holders of Securities of that seriessuch Securities, the whole amount (in money and/or Secondary Securities, if applicable) then due and payable on such Securities of that series for principalprincipal (and premium, premium (if any), ) and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any), ) and on any overdue interest, at the rate borne provided by such the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel counsel, other than costs and all other amounts due the Trustee under Section 9.7expenses incurred through negligence or bad faith. If the Company fails to pay such amounts (in money and/or Secondary Securities, if applicable) forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of trust, or subject to Section 5.7 hereof, the Holders of not less than 25% in principal amount of the Outstanding Securities of that series, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such the Securities, wherever situated. If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.deem

Appears in 1 contract

Samples: Indenture (PSF Holdings LLC)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if (1) default is made in the payment of principalany installment of interest on any Security and any related coupon when such interest becomes due and payable and such default continues for a period of 30 days, premium or (2) default is made in the payment of the principal of (or interest specified in clause (ipremium, if any, on) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any seriesSecurity at the Maturity thereof, then the Company shallwill, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of such Securities of that seriesand coupons, the whole amount then due and payable on such Securities of that series and coupons for principalprincipal (and premium, premium (if any), ) and interest, andif any, to the extent that payment of such interest shall be legally enforceable, and interest on any overdue principal (and premium, if any), ) and on any overdue interest, at the rate borne by or rates prescribed therefor in such Securities, and, in addition thereto, such further amount amounts as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may may, but is not required to, institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the such Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. If an Event of Default with respect to Securities of any series (or of all series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series (or of all series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Husky Energy Inc)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default (1) default is made in the payment of principalany installment of interest on any SEN as and when such interest becomes due and payable and such default continues for a period of thirty (30) days, premium or (2) default is made in the payment of the principal of (or interest specified in clause (ipremium, if any, on) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any seriesSEN at the Maturity thereof, then the Company shallwill, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of Securities of that seriessuch SENs, the whole amount then due and payable on Securities of that series such SENs for principalprincipal (and premium, premium (if any), ) and interest, and, to the extent that payment of such interest shall be legally enforceable, and interest on any overdue principal (and premium, if any), ) and on any overdue interest, at the rate borne by or rates prescribed therefor in such SecuritiesSENs, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and Trustee, its agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company Company, the Guarantor or any other obligor upon the Securities of that series such SENs and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or the Guarantor or any other obligor upon such SecuritiesSENs, wherever situated. If an Event of Default with respect to SENs of any Series (or of all Series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities SENs of that series such Series (or of all Series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. Notwithstanding anything to the contrary in this Indenture, any Supplemental Indenture or any Transaction Document, no Realization Event and no direction of Collections to an account other than the Collection Account may be effected except in accordance with the Collateral Trust Agreement.

Appears in 1 contract

Samples: Indenture (Southern Peru LTD)

Collection of Debt and Suits for Enforcement by Trustee. The Company covenants that if an Event of Default if: (1) default is made in the payment of principalany installment of interest on any Security and any related coupon when such interest becomes due and payable and such default continues for a period of 30 days; or (2) default is made in the payment of the principal of (or premium, premium or interest specified in clause (iif any, on) or (ii) of Section 8.1 hereof occurs and is continuing with respect to Securities of any series, Security at the Maturity thereof; then the Company shallwill, upon demand of the Trustee, pay to it, the Trustee for the benefit of the Holders of such Securities of that seriesand coupons, the whole amount then due and payable on such Securities of that series and coupons for principalprincipal (and premium, premium (if any), ) and interest, andif any, to the extent that payment of such interest shall be legally enforceable, and interest on any overdue principal (and premium, if any), ) and on any overdue interest, at the rate borne by or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including compensation tothe reasonable compensation, and expenses, disbursements and advances of the Trustee and its Trustee, their agents and counsel and all other amounts due the Trustee under Section 9.7counsel. If the Company fails to pay such amounts forthwith upon such demand, each of the Trustee, in its own name and as trustee of an express trust in favor of the Holders of Securities of that seriestrust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the such Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. If an Event of Default with respect to Securities of any series (or of all series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of that such series (or of all series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effective effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

Appears in 1 contract

Samples: Indenture (Uranium Energy Corp)

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