Common use of Collection of Indebtedness by Trustee; Trustee May Prove Debt Clause in Contracts

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 7 contracts

Samples: Indenture (MidWestOne Financial Group, Inc.), Indenture (Alerus Financial Corp), Indenture (MidWestOne Financial Group, Inc.)

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Collection of Indebtedness by Trustee; Trustee May Prove Debt. (a) The Company Issuer covenants that (ai) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (bii) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover all amounts due to the costs and expenses of collectionTrustee, including reasonable compensation to compensation, expenses, disbursements and advances of the Trustee and each predecessor Trustee, their respective agents, attorneys its agents and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. . (b) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer, the Guarantor or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer, the Guarantor or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys monies adjudged or decreed to be payable. . (c) In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable U.S. federal or state or Bermuda bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property, the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (ai) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to compensation, expenses, disbursements and advances of the Trustee and each predecessor Trustee, and their respective its agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (ii) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (biii) to collect and receive any moneys monies or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such the Trustee, including any amounts owed to the Trustee or any predecessor Trustee pursuant to Section 6.06hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents, and counsel. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (d) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of all amounts due to the Trustee, including the reasonable compensation, expenses, disbursements and compensation advances of the Trustee, each predecessor Trustee and their respective its agents and attorneyscounsel, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (e) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 6 contracts

Samples: Senior Indenture (Enstar Finance LLC), Subordinated Indenture (Enstar Finance LLC), Junior Subordinated Indenture (Enstar Group LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (a) The Company covenants that if an Event of Default described in clause (aa)(1) in case default shall be made in the payment or (a)(2) of any installment of interest on any of the Securities of any Series when such interest Section 8.01 hereof shall have become due occurred and payablebe continuing, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payablethen, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will shall pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities Notes of such Series the series with respect to which Event of Default shall have occurred and the Holders of any Coupons appertaining theretois continuing, the whole amount that then shall have so become due and payable on all Securities of such Series or such Coupons Notes for principal of or interest, as the case may be (be, with interest to the date of such payment upon the overdue principal and, and any premium and (to the extent that payment of such interest is enforceable under applicable law, on ) upon the overdue installments of interest at the same rate as the rate of interest specified in the Securities of borne by such Series)Notes; and and, in addition thereto, such further amount amounts as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective its agents, attorneys and counsel, and any expenses and or liabilities incurred, and all advances made, incurred by the Trustee and each predecessor Trusteehereunder other than through its negligence or bad faith. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series such Notes to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are Notes be overdue. . (b) In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor upon on such Securities Notes and collect in the manner provided by law out of the property of the Company or any other obligor upon on such Securities and Coupons, Notes wherever situated, the moneys adjudged or decreed to be payable. . (c) In case there shall be pending proceedings relative to the Company or any other obligor upon the Notes under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or such other obligor upon such Securities and Coupons, if anyobligor, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any Securities the Notes 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a1) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesNotes, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto Noteholders allowed in any judicial proceedings relative to the Company or such other obligor upon all Securities of such Seriesobligor, or to the creditors or property of the Company or such other obligor; and (b2) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Noteholders and of the Trustee on their behalf; and any trustee, receiver or receiver, liquidator, custodian or other similar official is hereby authorized by each of the Holders Noteholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of the payments directly to the SecurityholdersNoteholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. 9.06 hereof. (d) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities Notes of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, except to vote for the election of a trustee in bankruptcy or similar Person. person. (e) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, Notes may be prosecuted and enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto Notes or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents its agents, attorneys and attorneyscounsel, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons Notes in respect of which such action was taken. . (f) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto Notes in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto Notes parties to any such proceedings.

Appears in 6 contracts

Samples: Indenture for Senior Debt Securities (KCPL Financing Ii), Indenture (Great Plains Energy Inc), Indenture for Subordinated Debt Securities (Great Plains Energy Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, taken and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 5 contracts

Samples: Junior Subordinated Indenture (Morgan Stanley Capital Trust XI), Junior Subordinated Indenture (Morgan Stanley Capital Trust XI), Junior Subordinated Indenture (Morgan Stanley Capital Trust VIII)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise -- then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 5 contracts

Samples: Senior Subordinated Indenture (Hawaiian Electric Industries Inc), Subordinated Indenture (Sunamerica Capital Trust Iv), Prepaid Security Indenture (Sunamerica Capital Trust Vi)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (1) The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, bad faith or willful misconduct. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. . (2) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer, the Guarantor or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer, the Guarantor or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. . (3) In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property, the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence, bad faith or any predecessor Trustee pursuant to Section 6.06willful misconduct. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (4) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (5) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 5 contracts

Samples: Senior Indenture (AXIS Specialty Finance PLC), Subordinated Indenture (AXIS Specialty Finance PLC), Senior Indenture (Axis Capital Holdings LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal, state or non-U.S. bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 5 contracts

Samples: Indenture (GasLog Partners LP), Indenture (GasLog Ltd.), Indenture (GasLog Ltd.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Securities of such series. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer, the Guarantor or any other obligor upon the Securities or Guarantees of such Securities series and collect in the manner provided by law out of the property of the Company Issuer, the Guarantor or any other obligor upon the Securities or Guarantees of such Securities and Couponsseries, wherever situated, all the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer, the Guarantor or their property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities or Guarantees of such Seriesany series, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, any Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; and (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities or Guarantees of any series in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other person performing similar functions in respect of any such proceedings; and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.066.6. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or Guarantees of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding exceptproceeding, except as aforesaid, to vote for the election of a trustee aforesaid in bankruptcy or similar Personclause (b). All rights of action and of asserting claims under this Indenture, or under any of the Securities or Guarantees of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities or Guarantees of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject judgment shall be awarded to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of distribution to the Holders of the Securities, Guarantees or Coupons appertaining to such Securities of such Series and Holders of any Coupons in respect of which such action was taken, after payment of all sums due to the Trustee under Section 6.6 in respect of such Securities. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Securities, Guarantees or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Securities, Guarantees or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 4 contracts

Samples: Indenture (Weyerhaeuser Co), Indenture (Plum Creek Timber Co Inc), Indenture (Plum Creek Timber Co Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest interest, at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trusteetrustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteetrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under any applicable bankruptcy, civil rehabilitation, reorganization, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy, civil rehabilitation, reorganization or insolvency, or a liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trusteetrustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteetrustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee or receiver or standby receiver in arrangement, reorganization, liquidation or other obligor; bankruptcy, civil rehabilitation, reorganization or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding proceeding, except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Senior Indenture (Orix Corp), Senior Indenture (Orix Corp), Senior Indenture (Orix Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption redemption, repurchase or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company or any Guarantor will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any reasonable expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company or any Guarantor may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company or the Guarantors shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Couponsthe Securities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (ai) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesSecurities, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of gross negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all the Securities of such Series, or to the creditors or property of the Company or such other obligor; , (ii) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (biii) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of gross negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoseries, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon series appertaining thereto to such Securities or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the such Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto or in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Indenture (Reynolds American Inc), Indenture (Rj Reynolds Tobacco Holdings Inc), Indenture (RJR Acquisition Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment instalment of interest on any of the Debt Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Debt Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Debt Securities of such Series series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Debt Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Debt Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Debt Securities) specified in the Debt Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Debt Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Debt Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Debt Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsDebt Securities, wherever situated, the moneys monies adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Debt Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Debt Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Debt 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Debt Securities of such Series any series are Original Issue Discount Debt Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Debt Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Debt Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Debt Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor; (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Debt Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligorbankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings; and (bc) to collect and receive any moneys monies or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Debt Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Debt Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Debt Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Debt Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Debt Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Debt Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoDebt Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Debt Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Debt Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Debt Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Debt Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Subordinated Indenture (Financial Security Assurance Holdings LTD/Ny/), Trust Indenture (Financial Security Assurance Holdings LTD/Ny/), Trust Indenture (Financial Security Assurance Holdings LTD/Ny/)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except in the event of a determination of its own negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Senior Indenture (Teva Pharmaceutical Finance Co B.V.), Subordinated Indenture (Teva Pharmaceutical Finance Co B.V.), Subordinated Indenture (Teva Pharmaceutical Finance Vi B.V.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Senior Indenture (Teva Pharmaceutical Industries LTD), Senior Indenture (Teva Pharmaceutical Industries LTD), Senior Indenture (Teva Pharmaceutical Industries LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, willful misconduct or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, willful misconduct or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due except in the event of a determination by a court of competent jurisdiction to such Trustee have been caused by its own negligence, willful misconduct or any predecessor Trustee pursuant to Section 6.06bad faith in a final, non-appealable order. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Senior Indenture (Teva Pharmaceutical Industries LTD), Senior Indenture (Teva Pharmaceutical Industries LTD), Subordinated Indenture (Teva Pharmaceutical Finance Co B.V.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series Contingent Payment when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when as the same shall have become due and payable, whether upon maturity payable and such default continues for the period of the Securities of such Series or upon any redemption or by declaration or otherwise30 days, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities the amount of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series)Contingent Payment; and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal Trustee except as a result of and interest on the Securities of any Series to the Persons entitled thereto, whether its negligence or not the principal of and interest on the Securities of such Series are overduebad faith. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial pending proceedings relative to the Company or any other obligor upon such the Securities and Couponsunder Title 11 of the United States Code or any other applicable Federal or State bankruptcy, if anyinsolvency or other similar law, or to the creditors in case a receiver, assignee or property trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise:or (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesSecurities, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company or such other obligor; (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings; and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person4.06. All rights of action and of asserting claims under this IndentureAgreement, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at and any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was takenHolders. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture Agreement to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takenHolders, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Contingent Payment Rights Agreement (Fusion Systems Corp), Contingent Payment Rights Agreement (Fusion Systems Corp), Contingent Payment Rights Agreement (Fusion Systems Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise -- then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries) (with any such calculation of rate of interest or Yield to Maturity to be made by the Issuer and approved by the Trustee); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, accountants, experts, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, accountants, experts, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents agents, accountants, experts, attorneys and attorneyscounsel, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 4 contracts

Samples: Subordinated Indenture (Source One Mortgage Services Corp), Subordinated Indenture (Source One Mortgage Services Corp), Subordinated Indenture (Source One Mortgage Services Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except in the event of a determination of its own negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Senior Indenture (Teva Pharmaceutical Finance Co B.V.), Subordinated Indenture (Teva Pharmaceutical Finance Co B.V.), Senior Indenture (Teva Pharmaceutical Finance Vi B.V.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether at Maturity, upon maturity of the Securities of such Series or upon any redemption or redemption, by declaration or otherwiseotherwise -- then, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective its agents, attorneys and counsel, and any expenses and liabilities incurredincurred by such parties, and all advances made, made by the Trustee and each predecessor Trusteeexcept as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series such series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon the Securities of such Securities series and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon the Securities of such Securities and Couponsseries, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities of any series under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or such other obligor upon such Securities and Coupons, if anyobligor, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of the Securities of any Securities series 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Serieseach series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective its agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or such other obligor upon all Securities of such Seriesobligor, or to the creditors or property of the Company Issuer or such other obligor; (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of each series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligorbankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings; and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or receiver, liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and except, in each predecessor Trustee and all other amounts due to such Trustee case, as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, series may be prosecuted and enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto series or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents its agents, attorneys and attorneyscounsel, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Indenture (Puget Sound Energy Inc), Indenture (CMS Energy Corp), Indenture (Laclede Capital Trust I)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and Parent covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company Issuer or Parent, as applicable, will pay to the Trustee for the Securities of such Series, Series for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, thereto the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to to, and all expenses and liabilities incurred and all advances made by, the Trustee and each predecessor Trustee, Trustee and their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series to the Persons persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company Issuer or Parent shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer, Parent or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer, Parent or other obligor upon such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Parent or Issuer or any other obligor upon the Securities and Coupons under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Parent or Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Parent or Issuer or other obligor upon such under the Securities of any Series and Coupons, if any, or to the creditors or property of the Company Parent or Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.015.01 hereof) and interest owing and unpaid in respect of the Securities of such any Series, 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 reasonable compensation to to, and all expenses and liabilities incurred and all advances made by, the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Parent or Issuer or other obligor upon all Securities of such any Series, or to the creditors or property of the Company Parent or Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any Series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to to, and all expenses and liabilities incurred and all advances made by, such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee counsel and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any such Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Indenture (Whirlpool Corp /De/), Indenture (Whirlpool Emea Finance S.A R.L.), Indenture (Whirlpool Corp /De/)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (ai) in case a default shall be made in the payment of any installment of interest on any of the Securities of any Series Securities, as and when such interest the same shall have become due and payable, and such default shall have continued for a period in excess of 30 days days, or (bii) in case a default shall be made in the payment of all or any part of the principal of or premium, if any, on any of the Securities of any Series when and as the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by upon declaration or otherwise, then then, upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining theretoSecurities, the whole amount that then shall have become due and payable on all such Securities of such Series or such Coupons for principal of or and premium, if any, interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal andand premium, if any, of each such Security and (to the extent that payment of such interest is legally enforceable under applicable law, on overdue ) upon any installments of interest interest, at the same rate as the rate of interest specified in the Securities of borne by such Series)Security; and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including a reasonable compensation to the Trustee and each predecessor Trustee, their respective its agents, attorneys and counsel, and any expenses and or liabilities incurred, and all advances made, incurred by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether hereunder other than through its negligence or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personwillful misconduct. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoseries, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto series, or the production thereof at on any trial or other proceedings proceeding relative thereto, and any such action suit or proceedings proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, judgment shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was takenseries. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takena series, and it shall not be necessary to make any Holders of the Securities of such Securities and Coupons appertaining thereto series parties to any such proceedings. In case of an Event of Default hereunder with respect to Securities of a particular series, the Trustee may, but, unless first requested so to do by the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series and furnished with indemnity satisfactory to the Trustee against all costs, expenses and liabilities, shall not be under any obligation to, proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either by suit in equity or by action at law or by proceedings in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. The Trustee is authorized to file such proofs of claim and 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 the Holders of the Securities allowed in any judicial proceedings relative to the Company (or any other obligor upon the Securities), its creditors or their property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian 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 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be unpaid for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. The Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ committee or other similar committee. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of the Holder of any Security any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of any Security in any such proceeding.

Appears in 4 contracts

Samples: Indenture (Baxter International Inc), Indenture (Baxter International Inc), Indenture (Baxter International Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 4 contracts

Samples: Senior Indenture (Abn Amro Bank Nv), Subordinated Indenture (Abn Amro Bank Nv), Senior Indenture (Abn Amro Bank Nv)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment instalment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, liabilities incurred, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (Murphy Oil Corp /De), Indenture (Murphy Oil Corp /De), Indenture (Murphy Oil Corp /De)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Securities of such series. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, all the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; and (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other person performing similar functions in respect of any such proceedings; and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.066.6. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding exceptproceeding, except as aforesaid, to vote for the election of a trustee aforesaid in bankruptcy or similar Personclause (b). All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject judgment shall be awarded to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of distribution to the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken, after payment of all sums due to the Trustee under Section 6.6 in respect of such Securities. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (Con-Way Inc.), Indenture (Health Net Inc), Indenture (Stillwater Mining Co /De/)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a1) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series Securities, as and when such interest the same shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b2) in case default shall be made in the payment of all or any part of the principal of or premium, if any, on any of the Securities of any Series when and as the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by upon declaration or otherwiseotherwise -- then, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities holders of such Series and the Holders of any Coupons appertaining theretoSecurities, the whole amount that then shall have become due and payable on all such Securities of such Series or such Coupons for principal of or and premium, if any, and interest, as the case may be (with interest to the date of such payment upon the overdue principal andand premium, if any, of each such Security and (to the extent that payment of such interest is legally enforceable under applicable law, on overdue ) upon installments of interest interest, at the same rate as the rate of interest specified in the Securities of borne by such Series)Security; and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation to of the Trustee and each predecessor Trustee, their respective its agents, attorneys and counsel, and any expenses and or liabilities incurred, and all advances made, incurred by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether hereunder other than through its own negligence or not the principal of and interest on the Securities of such Series are overduebad faith. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity against the Company or other obligor on such Securities for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or such other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or such other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor upon the Securities of any series under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law relative to the Company or such other obligor, its creditors or its property, or in case a receiver or trustee shall have been appointed for its property or in case of any other judicial proceedings relative to the Company or other obligor upon such the Securities and Couponsof any series, if any, or to the its creditors or property of the Company or other obligorits property, the Trustee, irrespective of whether the principal of the Securities of any Securities series shall then be due and payable as therein expressed expressed, upon redemption or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) , to file and prove a claim or claims for the whole amount of principal (orprincipal, premium, if the Securities of such Series are Discount Securitiesany, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto series allowed in any judicial proceedings proceeding relative to the Company or other obligor upon all the Securities of such Seriesany series, its creditors, or to the creditors or property of the Company or other obligor; and (b) its property, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims same after the deduction of the Securityholders its charges and of the Trustee on their behalfexpenses; and any trusteereceiver, receiver assignee or liquidator, custodian trustee in bankruptcy or other similar official reorganization is hereby authorized by each of the Holders Securityholders to make such payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of such payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee any amount due it for compensation and expenses, including counsel fees incurred by it up to authorize or consent to or vote for or accept or adopt on behalf the date of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Persondistribution. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoseries, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto series, or the production thereof at in any trial or other proceedings relative proceeding relating thereto, and any such action or proceedings proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, judgment shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was takenseries. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takena series, and it shall not be necessary to make any Holders holders of the Securities of such Securities and Coupons appertaining thereto series parties to any such proceedings. In case of an Event of Default hereunder with respect to Securities of a particular series, the Trustee may, but unless first requested so to do by the holders of at least a majority in aggregate principal amount of the Securities of such series at the time outstanding and furnished with reasonable indemnity against all costs, expenses and liabilities shall not (subject to the provisions of Section 7.01) be under any obligation to, proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceedings in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of the holder of any Security any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any series or the rights of any holder thereof, or to authorize the Trustee to vote in respect of the claim of any holder of any Security in any such proceeding.

Appears in 3 contracts

Samples: Indenture (Kansas City Power & Light Co), Indenture (Kansas City Power & Light Co), Indenture (Kansas City Power & Light Co)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Securities of such series. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, all the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; and (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other person performing similar functions in respect of any such proceedings; and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings6.

Appears in 3 contracts

Samples: Indenture (Unionbancal Finance Trust Iv), Indenture (Metromedia Fiber Network Inc), Indenture (Unionbancal Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption redemption, repurchase or repayment at the option of the Holders or by declaration or otherwise, otherwise -- then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series, and any appurtenant Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all reasonable expenses and reasonable liabilities incurred, and all reasonable advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other reasonable expenses and reasonable liabilities incurred, and all reasonable advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the reasonable expenses, reasonable disbursements and reasonable compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 3 contracts

Samples: Senior Subordinated Debt Indenture (Kaufman & Broad Home Corp), Subordinated Debt Indenture (Kaufman & Broad Home Corp), Senior Debt Indenture (Kaufman & Broad Home Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (1) The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are be overdue. . (2) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. . (3) In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, rehabilitator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (4) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (5) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 3 contracts

Samples: Subordinated Indenture (Scottish Annuity & Life Holdings LTD), Senior Indenture (Scottish Annuity & Life Holdings LTD), Senior Indenture (Nationwide Financial Services Inc/)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (1) The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, bad faith or willful misconduct. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. . (2) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer, the Guarantor or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer, the Guarantor or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. . (3) In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property, the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.025.2, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence, bad faith or any predecessor Trustee pursuant to Section 6.06willful misconduct. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (4) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (5) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Axis Capital Holdings LTD), Junior Subordinated Indenture (AXIS Specialty Finance LLC), Subordinated Indenture (AXIS Specialty Finance LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on or any Additional Amounts with respect to any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any of the premium, if any, on any Securities of any Series series or any Additional Amounts with respect thereto when the same shall have become due and payable, whether upon maturity Stated Maturity of the Securities of such Series series or upon any redemption or by declaration acceleration or otherwise, then upon demand of the Trustee for the Securities of such Seriesseries, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders Holder of any Coupons appertaining thereto, such Security the whole amount that then shall have become due and payable on all Securities of any such Series or such Coupons Security for principal of or the principal, premium, if any, and interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal and premium, if any, and, to the extent that so far as payment of such interest the same is enforceable under applicable law, on overdue installments of interest and Additional Amounts, at the same rate as the rate of interest specified in the Securities of Overdue Rate applicable to any such Series)Security; and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by further amounts payable to the Trustee, the Company may pay the principal of its agents and interest on the Securities of any Series counsel pursuant to the Persons entitled thereto, whether or not the principal provisions of and interest on the Securities of such Series are overdueSection 7.6. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Company, the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Company, the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the The Trustee shall have made any demand pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention either in such proceedings its own name as trustee of an express trust, or otherwise: (a) to file and prove a claim or claims as attorney-in-fact for the whole amount Holders of principal (or, if any of the Securities of such Series are Discount Securities, or in both such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Seriescapacities, and to file such proof of debt, amendment of proof of debt, claim, petition or other papers or documents document as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders Holders of Securities allowed in any equity receivership, insolvency, bankruptcy, liquidation, readjustment, reorganization or other similar proceedings, or any judicial proceedings, relative to the Company, the Guarantor or any other obligor on the Securities or its creditors or its property. The Trustee is hereby irrevocably appointed (and the successive respective Holders of the Securities, by taking and holding the same, shall be conclusively deemed to have so appointed the Trustee) the true and lawful attorney-in-fact of the respective Holders of the Securities, with authority to make or file in the respective names of the Holders of the Securities any Coupons appertaining thereto proof of debt, amendment of proof of debt, claim, petition or other document in any such proceedings and to receive payment of any sums becoming distributable on account thereof, and to execute any other papers and documents and do and perform any and all acts and things for and on behalf of such Holders of the Securities as may be necessary or advisable in the opinion of the Trustee in order to have the respective claims of the Holders of the Securities against the Company, the Guarantor or any other obligor on the Securities and/or its property allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claimsproceedings, and to distribute all amounts received with respect to the claims receive payment of the Securityholders and of the Trustee or on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities account of such Seriesclaims; provided, andhowever, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing nothing herein contained shall be deemed to authorize or empower the Trustee to authorize or consent to or vote for or accept or adopt adopt, on behalf of any Securityholder Holder of Securities, any plan of reorganizationreorganization or readjustment of the Company, arrangement, adjustment the Guarantor or composition affecting any other obligor on the Securities or, by other action of any Series character in any such proceeding, to waive or the rights change in any way any right of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in Security, even though it may otherwise be entitled so to do under any present or future law, all such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy power or similar Personauthorization being hereby expressly denied. All rights of action and of asserting claims under this Indenture, Indenture or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (Platinum Underwriters Holdings LTD), Indenture (Platinum Underwriters Holdings LTD), Indenture (Platinum Underwriters Holdings LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise - then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, taken and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Morgan Stanley), Junior Subordinated Indenture (Morgan Stanley Capital Trust VIII), Junior Subordinated Indenture (Morgan Stanley Capital Trust VIII)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment instalment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise -- then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments instalments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, taken and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (MSDW Capital Trust V), Junior Subordinated Indenture (Morgan Stanley Dean Witter & Co), Junior Subordinated Indenture (Morgan Stanley Capital Trust XI)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, payable and such default shall have continued for a period of 30 thirty days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining theretoseries, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series such series to the Persons entitled theretoregistered Holders in the Security Register, whether or not the principal of and interest on the Securities of such Series are series is overdue. 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 by such appropriate judicial proceedings as the Trustee shall deem necessary 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. In case the Company shall fail forthwith of any judicial proceeding relating to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor upon such Securities and collect in the manner provided by law out of Securities, or the property or creditors of the Company or other obligor upon any such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings proceeding or otherwise: (a) , to file take any and prove a claim or claims for all actions authorized under the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, and to file such other papers or documents as may be necessary or advisable Trust Indenture Act in order to have the claims of the Trustee (including any claim for reasonable compensation to Holders and the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) proceeding. The Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; , and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or willful misconduct and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.066.7. Nothing herein contained No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (Hanson PLC), Indenture (Hanson PLC), Indenture (Hanson PLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company and the Guarantor each covenants that (a) in case default shall be made in the payment of any installment of interest on or any Additional Amounts any of the Securities of any Series when such interest or Additional Amounts shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same such interest on or any Additional Amounts shall have become due and payable, whether upon maturity Maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, Series for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest and Additional Amounts at the same rate as the rate of interest specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company or the Guarantor, as the case may be, may pay the principal of of, interest on, and interest on any Additional Amounts the Securities of any Series to the Persons persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company or the Guarantor, as the case may be, shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or the Guarantor, as the case may be, or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Company, the Guarantor or any other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company, the Guarantor or their respective properties or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Company, the Guarantor or other obligor upon such under the Securities and Couponsof any Series, if any, or to the creditors or property of the Company Company, the Guarantor or any such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) 5.1 hereof), any premium, interest and interest Additional Amounts owing and unpaid in respect of the Securities of such any Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee,) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Company, the Guarantor or any other obligor upon all Securities of such any Series, or to the creditors or property of the Company Company, the Guarantor or any such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any Series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.066.6. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any such Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 3 contracts

Samples: Senior Indenture (Max USA Holdings Ltd.), Subordinated Indenture (Max USA Holdings Ltd.), Indenture (Max Re Capital LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all such Securities of such Series or such Coupons for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such SeriesSecurities); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or willful misconduct. In connection therewith, the Trustee shall comply with the provisions of Section 313(b)(2) of the Trust Indenture Act of 1939 to the extent applicable. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesSecurities, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligorbankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings; and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06willful misconduct. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was takenSecurities. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takenSecurities, and it shall not be necessary to make any Holders holders of such the Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (Weirton Steel Corp), Indenture (Weirton Steel Corp), Indenture (Weirton Steel Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (a) The Company covenants that if an Event of Default described in clause (aa)(1) in case default shall be made in the payment or (a)(2) of any installment of interest on any of the Securities of any Series when such interest Section 8.01 hereof shall have become due occurred and payablebe continuing, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payablethen, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will shall pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities Notes of such Series the series with respect to which Event of Default shall have occurred and the Holders of any Coupons appertaining theretois continuing, the whole amount that then shall have so become due and payable on all Securities of such Series or such Coupons Notes for principal of or interest, as the case may be (be, with interest to the date of such payment upon the overdue principal and, and any premium and (to the extent that payment of such interest is enforceable under applicable law, on ) upon the overdue installments of interest at the same rate as the rate of interest specified in the Securities of borne by such Series)Notes; and and, in addition thereto, such further amount amounts as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective its agents, attorneys and counsel, counsel and any expenses and or liabilities incurred, and all advances made, incurred by the Trustee and each predecessor Trusteehereunder other than through its negligence or bad faith. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series such Notes to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are Notes be overdue. . (b) In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor upon on such Securities Notes and collect in the manner provided by law out of the property of the Company or any other obligor upon on such Securities and Coupons, Notes wherever situated, the moneys adjudged or decreed to be payable. . (c) In case there shall be pending proceedings relative to the Company or any other obligor upon the Notes under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or such other obligor upon such Securities and Coupons, if anyobligor, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any Securities the Notes 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a1) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesNotes, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto Noteholders allowed in any judicial proceedings relative to the Company or such other obligor upon all Securities of such Seriesobligor, or to the creditors or property of the Company or such other obligor; and (b2) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Noteholders and of the Trustee on their behalf; and any trustee, receiver or receiver, liquidator, custodian or other similar official is hereby authorized by each of the Holders Noteholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of the payments directly to the SecurityholdersNoteholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. 9.06 hereof. (d) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities Notes of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, except to vote for the election of a trustee in bankruptcy or similar Person. person. (e) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, Notes may be prosecuted and enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto Notes or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents its agents, attorneys and attorneyscounsel, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons Notes in respect of which such action was taken. . (f) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto Notes in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto Notes parties to any such proceedings.

Appears in 3 contracts

Samples: Subordinated Indenture (Great Plains Energy Inc), Subordinated Indenture (Great Plains Energy Inc), Subordinated Indenture (Great Plains Energy Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on or any Additional Amounts with respect to any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any of the premium, if any, on any Securities of any Series series or any Additional Amounts with respect thereto when the same shall have become due and payable, whether upon maturity Stated Maturity of the Securities of such Series series or upon any redemption or by declaration acceleration or otherwise, then upon demand of the Trustee for the Securities of such Seriesseries, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders Holder of any Coupons appertaining thereto, such Security the whole amount that then shall have become due and payable on all Securities of any such Series or such Coupons Security for principal of or the principal, premium, if any, and interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal and premium, if any, and, to the extent that so far as payment of such interest the same is enforceable under applicable law, on overdue installments of interest and Additional Amounts, at the same rate as the rate of interest specified in the Securities of Overdue Rate applicable to any such Series)Security; and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by further amounts payable to the Trustee, the Company may pay the principal of its agents and interest on the Securities of any Series counsel pursuant to the Persons entitled thereto, whether or not the principal provisions of and interest on the Securities of such Series are overdueSection 7.6. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the The Trustee shall have made any demand pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention either in such proceedings its own name as trustee of an express trust, or otherwise: (a) to file and prove a claim or claims as attorney-in-fact for the whole amount Holders of principal (or, if any of the Securities of such Series are Discount Securities, or in both such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Seriescapacities, and to file such proof of debt, amendment of proof of debt, claim, petition or other papers or documents document as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto Securities allowed in any equity receivership, insolvency, bankruptcy, liquidation, readjustment, reorganization or other similar proceedings, or any judicial proceedings proceedings, relative to the Company or any other obligor upon on the Securities or its creditors or its property. The Trustee is hereby irrevocably appointed (and the successive respective Holders of the Securities, by taking and holding the same, shall be conclusively deemed to have so appointed the Trustee) the true and lawful attorney-in-fact of the respective Holders of the Securities, with authority to make or file in the respective names of the Holders of the Securities any proof of debt, amendment of proof of debt, claim, petition or other document in any such proceedings and to receive payment of any sums becoming distributable on account thereof, and to execute any other papers and documents and do and perform any and all Securities acts and things for and on behalf of such Series, Holders of the Securities as may be necessary or advisable in the opinion of the Trustee in order to have the creditors or property respective claims of the Holders of the Securities against the Company or any other obligor; and (b) to collect and receive any moneys or other obligor on the Securities and/or its property payable or deliverable on allowed in any such claimsproceedings, and to distribute all amounts received with respect to the claims receive payment of the Securityholders and of the Trustee or on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities account of such Seriesclaims; provided, andhowever, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing nothing herein contained shall be deemed to authorize or empower the Trustee to authorize or consent to or vote for or accept or adopt adopt, on behalf of any Securityholder Holder of Securities, any plan of reorganization, arrangement, adjustment reorganization or composition affecting readjustment of the Company or any other obligor on the Securities or, by other action of any Series character in any such proceeding, to waive or the rights change in any way any right of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in Security, even though it may otherwise be entitled so to do under any present or future law, all such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy power or similar Personauthorization being hereby expressly denied. All rights of action and of asserting claims under this Indenture, Indenture or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (National Grid PLC), Indenture (National Grid PLC), Subordinated Indenture (MRH Capital Trust I)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case If an Event of Default or a default shall be made in the payment of any installment of interest on any of the with respect to Securities of any Series when such interest shall have become due series occurs and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Seriesis continuing, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute pursue any action or available remedy by proceedings at law or in equity for to collect any principal of and interest on the collection Securities of the sums so such series due and unpaid, or to enforce the performance of any provision of the Securities of such series or this Indenture, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, the moneys monies adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable U.S. federal or state or non-U.S. bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any the Securities shall then be due and payable as therein expressed or expressed, by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 5.02otherwise, shall be entitled and empowered, by intervention in such proceedings or otherwise, unless prohibited by applicable law and regulations: (ai) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of its negligence or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (ii) to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (biii) to collect and receive any moneys or other property monies payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of its negligence or any predecessor Trustee pursuant to Section 6.06willful misconduct. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 3 contracts

Samples: Eligible Liabilities Senior Indenture (Deutsche Bank Aktiengesellschaft), Eligible Liabilities Senior Indenture (Deutsche Bank Aktiengesellschaft), Eligible Liabilities Senior Indenture (Deutsche Bank Aktiengesellschaft)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series Notes when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series Notes when the same shall have become due and payable, whether upon maturity of the Securities of such Series Notes or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, Notes the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons Notes, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series)interest; and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series Notes to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are Notes be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities the Notes and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Notes, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Notes under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Notes, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Securities the Notes 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, Notes 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Notes, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Notes in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; , and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities Notes of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, Notes may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto Notes or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons Notes in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto Notes in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto Notes parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (Boardwalk Pipeline Partners, LP), Indenture (Boardwalk Pipeline Partners, LP), Indenture (Boardwalk Pipeline Partners, LP)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any Principal of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of Principal or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series)be; and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal Principal of and interest on the Securities of any Series to the Persons entitled theretoHolders, whether or not the principal Principal of and interest on the Securities of such Series are be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal Principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) Principal and interest owing and unpaid in respect of the Securities of such SeriesSecurities, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of' the Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Company Holders of the Securities in any election of a trustee or other obligor; a standby trustee in arrangement, reorganization, liquidation or other, bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings5.

Appears in 3 contracts

Samples: Indenture (Cone Mills Corp), Indenture (Cone Mills Corp), Indenture (Cone Mills Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series Convertible Debentures when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series Convertible Debentures when the same shall have become due and payable, whether upon maturity of the Securities of such Series Maturity or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesConvertible Debentures, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, Convertible Debentures the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons Convertible Debentures for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such SeriesConvertible Debentures); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to to, and all expenses and liabilities incurred and all advances with interest made by, the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeexcept as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series Convertible Debentures to the Persons persons entitled thereto, whether or not the principal of and interest on the Securities of such Series Convertible Debentures are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesConvertible Debentures, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities Convertible Debentures and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsConvertible Debentures, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or any other obligor upon the securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if anyunder the Convertible Debentures, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any Securities Convertible Debentures 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings proceeding or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesConvertible Debentures, 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 reasonable compensation to to, and all expenses and liabilities incurred and all advances with interest made by, the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement except as a result of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteenegligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto Convertible Debentures allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such SeriesConvertible Debentures, or to the creditors or property of the Company or other such obligor; , and (b) to collect and receive any moneys or other property payable or deliverable deliver able on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders of Convertible Debentures and of the Trustee on their behalf; and any trustee, receiver or receiver, liquidator, custodian or other similar official is hereby authorized by each of the Holders of Convertible Debentures to make payments to the Trustee for the Securities of such SeriesConvertible Debentures, and, in the event that such Trustee shall consent to the making of payments directly to the SecurityholdersHolders of Convertible Debentures, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to to, and all expenses and liabilities incurred and all advances with interest made by, such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee counsel and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.066.7, except as a result of Trustee's negligence or bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder of Convertible Debentures any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series Convertible Debentures or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder of Convertible Debentures in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personproceeding. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoConvertible Debentures, may be enforced by the Trustee for the Securities of such Series Convertible Debentures without the possession of any of the Securities of such Series or any Coupon appertaining thereto Convertible Debentures or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons Convertible Debentures in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series Convertible Debentures (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto Convertible Debentures in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto Convertible Debentures parties to any such proceedings.

Appears in 3 contracts

Samples: Indenture (Capital Trust), Indenture (Viatel Inc), Indenture (McKesson Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days 60 days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Securities of such series. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, all the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities of any series then Outstanding under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other similar judicial proceedings relative to the Company Issuer or other obligor upon the Securities of such Securities and Coupons, if anyseries, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any the Securities of such series 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest, if any, (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, and and, in the case of any judicial proceedings, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; and (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other person performing similar functions in respect of any such proceedings; and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings6.

Appears in 3 contracts

Samples: Subordinated Indenture (Citizens Communications Co), Senior Indenture (Citizens Communications Co), Senior Indenture (Citizens Communications Co)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made occur in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made occur in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of all of the Securities of such Series and the Holders of any Coupons appertaining thereto, all series affected the whole amount that then shall have become due and payable on all of the Securities of such Series or such Coupons all series affected for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, incurred by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property Property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its Property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property Property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property Property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the reasonable expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 3 contracts

Samples: Trust Indenture (Leidos, Inc.), Indenture (Leidos Holdings, Inc.), Indenture (Leidos Holdings, Inc.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Senior Indenture (Teva Pharmaceutical Industries LTD), Senior Indenture (Teva Pharmaceutical Industries LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Securities of such series. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, all the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; and (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other person performing similar functions in respect of any such proceedings; and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.066.6. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding exceptproceeding, except as aforesaid, to vote for the election of a trustee aforesaid in bankruptcy or similar Personclause (b). All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoseries, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto series or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject judgment shall be awarded to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of distribution to the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken, after payment of all sums due to the Trustee under Section 6.6 in respect of such Securities. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Shapeways Holdings, Inc.), Indenture (PayPal Holdings, Inc.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or willful misconduct. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series shall be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under any applicable bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or such other obligor on the property of the Issuer or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Nokia Corp), Indenture (Nokia Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06Trustee. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Debt Indenture (Gazit Group Financial LLC), Senior Debt Indenture (Gazit Group Financial LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. 1. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any Additional Amounts of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series series, and such Coupons, for principal, interest or such Coupons for principal of or interestAdditional Amounts, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer, the Guarantor or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer, the Guarantor or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. 2. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property, the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal principal, interest and Additional Amounts (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. 3. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. 4. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Senior Indenture (Argo Group Us, Inc.), Subordinated Indenture (Argo Group Us, Inc.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, otherwise -- then upon demand of by the Trustee for the Securities of such Series, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all such Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as borne by the rate of interest specified in the Securities of such SeriesSecurities); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of its negligence or bad faith, and all other amounts due the Trustee under Section 6.6. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings proceeding at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property Property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the property of the Issuer or such other obligor, or in case of any judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesSecurities, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith, and for all other amounts due the Trustee under Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property Property of the Company Issuer or such other obligor; (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligorbankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings; and (bc) to collect and receive any moneys or other property Property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee Trustee, except as a result of negligence or bad faith, and for all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedingsSection 6.

Appears in 2 contracts

Samples: Indenture (American Biltrite Inc), Indenture (Congoleum Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of Principal Amount at Maturity, Issue Price, including accrued Original Issue Discount or Redemption Price on the Securities of any Series Notes as and when the same shall have become due and payable, whether at maturity, upon maturity of the Securities of such Series or upon any redemption or redemption, by declaration or otherwiseotherwise -- then, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, Notes the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be Notes (with interest to the date of such payment upon the overdue principal andamounts, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in yield to maturity on the Securities of such SeriesNotes); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective its agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, made by the Trustee and each predecessor Trustee, except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay make payments in respect of the principal of and interest on the Securities of any Series Notes to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series Notes are overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor the Guarantor upon such Securities the Notes and collect in the manner provided by law out of the property of the Company Issuer or other obligor the Guarantor upon such Securities and Couponsthe Notes, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or the Guarantor upon the Notes under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or the Guarantor or its property, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Guarantor, or to the creditors or property of the Company Issuer or other obligorthe Guarantor, the Trustee, irrespective of whether the principal Principal Amount at Maturity, Issue Price, accrued Original Issue Discount or Redemption Price of any Securities the Notes 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Issue Price on the Notes then Outstanding and the Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest accrued thereon owing and unpaid in respect of the Securities of such SeriesNotes, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective its agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto Noteholders allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Series, the Guarantor or to the creditors or property of the Company Issuer or the Guarantor. (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Notes in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Noteholders and of the Trustee on their behalf; and any trustee, receiver or receiver, liquidator, custodian or other similar official is hereby authorized by each of the Holders Noteholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersNoteholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoNotes, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto Notes or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents its agents, attorneys and attorneyscounsel, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was takenNotes. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takenNotes, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto the Notes parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Aerial Communications Inc), Indenture (American Portable Telecom Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series Notes when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series Notes when the same shall have become due and payable, whether upon maturity of the Securities of such Series Notes or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, Notes the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons Notes for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such SeriesNotes); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series Notes to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are Notes be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities the Notes and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Notes, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Notes under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer, the Guarantor or their property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such Securities and Coupons, if anythe Notes, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any Securities the Notes 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such SeriesNotes, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Notes, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Notes in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; , and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoNotes, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto Notes or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons Notes in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto Notes in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto the Notes parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Boardwalk Pipelines Lp), Indenture (Boardwalk Pipeline Partners, LP)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days 60 days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Securities of such series. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, all the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; and (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other Person performing similar functions in respect of any such proceedings; and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.066.6. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding exceptproceeding, except as aforesaid, to vote for the election of a trustee aforesaid in bankruptcy or similar Personclause (b). All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, series may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto series or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject judgment shall be awarded to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of distribution to the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken, after payment of all sums due to the Trustee under Section 6.6 in respect of such Securities. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Exelon Generation Co LLC), Indenture (Exelon Generation Co LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any of the premium, if any, on any Securities of any Series series when the same shall have become due and payable, whether upon maturity Stated Maturity of the Securities of such Series series or upon any redemption or by declaration acceleration or otherwise, otherwise or (c) in case of default in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due by the terms of the Securities of any series -- then upon demand of the Trustee for the Securities of such Seriesseries, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders Holder of the Securities of any such Series and the Security (or Holders of any Coupons appertaining thereto, such series of Securities in the case of clause (c) above) the whole amount that then shall have become due and payable on all any such Security (or Securities of any such Series or such Coupons series in the case of clause (c) above) for principal of or the principal, premium, if any, and interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal and premium, if any, and, to the extent that so far as payment of such interest the same is enforceable under applicable law, on overdue installments of interest interest, at the same rate as the rate Overdue Rate applicable to any such Security (or Securities of interest specified any such series in the Securities case of such Seriesclause (c)); and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by further amounts payable to the Trustee, the Company may pay the principal of its agents and interest on the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 counsel pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings7.

Appears in 2 contracts

Samples: Indenture (Idacorp Trust Iii), Indenture (Idacorp Trust Iii)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise — then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency, reorganization or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in any arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be prosecuted and enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements disbursements, advances and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was takenjudgment has been recovered. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Supplemental Indenture (Safeway Stores 42, Inc.), Supplemental Indenture (Albertsons Companies, Inc.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06Trustee. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Debt Indenture (Gazit Group Financial LLC), Senior Debt Indenture (Gazit Group Financial LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, otherwise - then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, thereto the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or any other obligor upon the Securities under any Bankruptcy Law, or in case a Custodian shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or other obligor upon such under the Securities and Coupons, if anyof any Series, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such any Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such any Series, or to the creditors or property of the Company or such other obligor; , (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any Series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian Custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings6.

Appears in 2 contracts

Samples: Indenture (Enhance Financial Services Group Inc), Indenture (Enhance Financial Services Group Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payablepayable hereunder, whether upon maturity of the Securities of such Series or upon any redemption or by declaration of acceleration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company will pay to the Trustee for the Securities of such Series, Series for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that is then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interestinterest on such Securities, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such SeriesSeries (or, in the case of Original Issue Discount Securities, at the yield to maturity)); and in addition thereto, such further amount as shall be sufficient to cover the fees, costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any fees, expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the The Company may shall pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demandamounts, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or any other obligor upon the Securities under the Bankruptcy Law, or in case a Receiver shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or other obligor upon such under the Securities and Couponsof any Series, if any, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02otherwise, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.015.1 hereof) and interest owing and unpaid in respect of the Securities of such any Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all fees, expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such any Series, or to the creditors or property of the Company or such other obligor; , (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of Securities of any Series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver or liquidatorReceiver, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other fees, expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06hereunder. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding exceptproceeding, except as aforesaid, to vote for the election of a trustee set forth in bankruptcy or similar PersonSection 5.2(b). All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretothe Guarantees, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Security Certificates representing the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the fees, expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any such Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any applicable Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (F&G Annuities & Life, Inc.), Indenture (Fidelity National Financial, Inc.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants and the Guarantor covenant that (a1) in the case default shall be made in the payment of any installment of interest on any of the Securities of any Series Series, as and when such interest the same shall have become due and payable, and such default shall have continued for a period of 30 days 90 days, or (b2) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by upon declaration or otherwiseotherwise -- then, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company or the Guarantor will pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining theretoSeries, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or and interest, as the case may be (with interest to the date of such payment upon the any overdue principal and, and (to the extent that payment of such interest is enforceable under applicable law, on ) upon any overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Series); and , and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys its agents and counsel, and any all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal except as a result of and interest on the Securities of any Series to the Persons entitled thereto, whether its negligence or not the principal of and interest on the Securities of such Series are overduebad faith. In case both the Company and the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, decree and may enforce any such judgment or final decree against the Company or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or the Guarantor or other obligor upon such Securities and Coupons, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal, state or other bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or the Guarantor or its property or such other obligor, or in case of any other judicial proceedings relative to the Company or the Guarantor or other obligor upon such the Securities and Coupons, if anyof any Series, or to the creditors or property of the Company Company, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.026.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: , (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such any Series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01) Series), and interest owing paid and unpaid in respect of the Securities of such Series, any Series 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys its agents and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeexcept as a result of its negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Company, the Guarantor or other obligor upon all the Securities of such any Series, or to the creditors or property of the Company Company, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any Series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; and bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, claims and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; behalf and any trusteereceiver, receiver or assignee, liquidator, custodian custodian, trustee or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such Series, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts amount as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys its agents and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of its negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting to assert claims under this Indenture, or under any of the Securities of any Series or any Coupon coupons appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or of any Coupon coupons appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, judgment shall be for the ratable benefit of the Holders holders of the Securities of or coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of or coupons appertaining to such Series and Coupons appertaining thereto Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto or coupons parties to any such proceedings. In the case of an Event of Default hereunder the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture, or in aid of the exercise of any power granted in this Indenture, or otherwise, and the Trustee may enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

Appears in 2 contracts

Samples: Indenture (At&t Capital Corp /De/), Indenture (Newcourt Credit Group Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, willful misconduct or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, willful misconduct or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due except in the event of a determination by a court of competent jurisdiction to such Trustee have been caused by its own negligence, willful misconduct or any predecessor Trustee pursuant to Section 6.06bad faith in a final, non-appealable order. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Indenture (Teva Pharmaceutical Finance Co B.V.), Senior Indenture (Teva Pharmaceutical Finance Co B.V.)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any of the premium, if any, on any Securities of any Series series when the same shall have become due and payable, whether upon maturity Stated Maturity of the Securities of such Series series or upon any redemption or by declaration acceleration or otherwise, otherwise or (c) in case of default in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due by the terms of the Securities of any series -- then upon demand of the Trustee for the Securities of such Seriesseries, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders Holder of the Securities of any such Series and the Security (or Holders of any Coupons appertaining thereto, such series of Securities in the case of clause (c) above) the whole amount that then shall have become due and payable on all any such Security (or Securities of any such Series or such Coupons series in the case of clause (c) above) for principal of or the principal, premium, if any, and interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal and premium, if any, and, to the extent that so far as payment of such interest the same is enforceable under applicable law, on overdue installments of interest interest, at the same rate as the rate Overdue Rate applicable to any such Security (or Securities of interest specified any such series in the Securities case of such Seriesclause (c)); and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by further amounts payable to the Trustee, the Company may pay the principal of its agents and interest on the Securities of any Series counsel pursuant to the Persons entitled thereto, whether or not the principal provisions of and interest on the Securities of such Series are overdueSection 7.6. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities (or Securities of any such series in case of clause (c)) and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Coupons(or Securities of any such series in case of clause (c)), wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the The Trustee shall have made any demand pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention either in such proceedings its own name as trustee of an express trust, or otherwise: (a) to file and prove a claim or claims as attorney-in-fact for the whole amount Holders of principal (or, if any of the Securities of such Series are Discount Securities, or in both such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Seriescapacities, and to file such proof of debt, amendment of proof of debt, claim, petition or other papers or documents document as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto Securities allowed in any equity receivership, insolvency, bankruptcy, liquidation, readjustment, reorganization or other similar proceedings, or any judicial proceedings proceedings, relative to the Company or any other obligor upon all on the Securities of such Series, or to the its creditors or property its property. The Trustee is hereby irrevocably appointed (and the successive respective Holders of the Company Securities, by taking and holding the same, shall be conclusively deemed to have so appointed the Trustee) the true and lawful attorney-in-fact of the respective Holders of the Securities, with authority to make or file in the respective names of the Holders of the Securities any proof of debt, amendment of proof of debt, claim, petition or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on document in any such claimsproceedings and to receive payment of any sums becoming distributable on account thereof, and to distribute execute any other papers and documents and do and perform any and all amounts received with respect acts and things for and on behalf of such Holders of the Securities as may be necessary or advisable in the opinion of the Trustee in order to have the respective claims of the Securityholders and Holders of the Trustee Securities against the Issuer or any other obligor on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities and/or its property allowed in any such proceedings, and to receive payment of or on account of such Seriesclaims; provided, andhowever, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing nothing herein contained shall be deemed to authorize or empower the Trustee to authorize or consent to or vote for or accept or adopt adopt, on behalf of any Securityholder Holder of Securities, any plan of reorganization, arrangement, adjustment reorganization or composition affecting readjustment of the Issuer or any other obligor on the Securities or, by other action of any Series character in any such proceeding, to waive or the rights change in any way any right of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in Security, even though it may otherwise be entitled so to do under any present or future law, all such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy power or similar Personauthorization being hereby expressly denied. All rights of action and of asserting claims under this Indenture, Indenture or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Idacorp Trust Iii), Indenture (Idacorp Trust Iii)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (a) The Company covenants that (ai) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series Notes when such interest shall have become due and payable, and such default shall have continued for a period of 30 days 60 days, or (bii) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series Notes when the same shall have become due and payable, whether upon maturity of the Securities of such Series Notes or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, Notes the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons Notes for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of Overdue Rate applicable to such SeriesNotes); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. under Section 11.01 in respect of such Notes. (b) Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series such Notes to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are Notes be overdue. . (c) In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities Notes and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsNotes, wherever situated, all the moneys adjudged or decreed to be payable. . (d) In case there shall be pending proceedings relative to the Company or any other obligor upon the Notes then Outstanding under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other similar judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if anyNotes, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any Securities such Notes 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 pursuant to the provisions of this Section 5.027.03, shall be entitled and empowered, by intervention in such proceedings or otherwise: (ai) to file and prove a claim or claims for the whole amount of principal (orand interest, if the Securities of such Series are Discount Securitiesany, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of such Notes, and, in the Securities case of such Seriesany judicial proceedings, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 11.01) and of the Securityholders and the Holders of any Coupons appertaining thereto such Notes allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such SeriesNotes, or to the creditors or property of the Company or such other obligor; and (bii) unless prohibited by applicable law and regulations, or unless otherwise directed by a majority in aggregate principal amount of the Notes at the time Outstanding, to vote on behalf of the Holders of such Notes in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other person performing similar functions in respect of any such proceedings; and (iii) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders of such Notes and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders of such Notes to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders of such Notes, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.06. 11.01. (e) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder of such Notes any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series such Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder of such Notes in any such proceeding exceptproceeding, except as aforesaid, to vote for the election of a trustee aforesaid in bankruptcy or similar Person. clause (ii). (f) All rights of action and of asserting claims under this Indenture, Indenture or under any of the Securities of any Series or any Coupon appertaining theretoNotes, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto Notes or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name and as trustee of an express trust, and any recovery of judgment, subject judgment shall be awarded to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of distribution to the Holders of the Securities of such Series and Holders of any Coupons Notes in respect of which such action was taken. , after payment of all sums due to the Trustee under Section 11.01 in respect of such Notes. (g) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto Notes in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto Notes parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Frontier Communications Corp), Indenture (Frontier Communications Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (1) The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of Additional Amounts on the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series series, and such Coupons, for principal, interest or such Coupons for principal of or interestAdditional Amounts, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, bad faith or willful misconduct. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. . (2) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. . (3) In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest and Additional Amounts (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence, bad faith or any predecessor Trustee pursuant to Section 6.06willful misconduct. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (4) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (5) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Indenture (Rediff Com India LTD), Senior Indenture (Rediff Com India LTD)

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Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series shall be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under any applicable bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or such other obligor on the property of the Issuer or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Nokia Corp), Indenture (Astrazeneca PLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption redemption, required repurchase or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, incurred by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys amounts adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys cash or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this the Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the reasonable expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this the Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Affymetrix Inc), Indenture (Affymetrix Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or premium, if any, on any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity Maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise or (c) in case of default in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due by the terms of the Securities of any series--then upon demand of the Trustee for the Securities of such Seriesseries, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holder of any such Security (or Holders of any such series of Securities in the Securities case of such Series clause (c) above) and the Holders of any Coupons appertaining thereto, thereto the whole amount that then shall have become due and payable on all any such Security (or Securities of any such Series or such Coupons series in the case of clause (c) above) and matured Coupons, if any, appertaining thereto for principal of or the principal, premium, if any, and interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal and premium, if any, and, to the extent that so far as payment of such interest the same is enforceable under applicable law, on overdue installments of interest interest, at the same rate as the rate Overdue Rate applicable to any such Security (or Securities of interest specified any such series in the Securities case of such Seriesclause (c)); and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation collection and any further amounts payable to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series pursuant to the Persons entitled thereto, whether or not the principal provisions of and interest on the Securities of such Series are overdueSection 7.6. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, unpaid and may prosecute any such action or proceedings to judgment or final decree, decree and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities (or Securities of any such series in the case of clause (c)) and Coupons and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities (or Securities of any such series in the case of clause (c)) and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be The Trustee for any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property series of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention either in such proceedings its own name as trustee of an express trust, or otherwise: (a) to file and prove a claim or claims as attorney-in-fact for the whole amount Holders of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect any of the Securities of such Seriesseries and for the Holders of any Coupons appertaining thereto or in both such capacities, and to file such proof of debt, amendment of proof of debt, claim, petition or other papers or documents document as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders Holders of Securities of such series and the Holders of any Coupons appertaining thereto allowed in any equity receivership, insolvency, bankruptcy, liquidation, readjustment, reorganization or other similar proceedings, or any judicial proceedings proceedings, relative to the Company Issuer or any other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Seriesseries and any Coupons appertaining thereto or its creditors or its property. The Trustee for each series of the Securities is hereby irrevocably appointed (and the successive respective Holders of the Securities of such series and the Holders of any Coupons appertaining thereto, andby taking and holding the same, shall be conclusively deemed to have so appointed the Trustee) the true and lawful attorney-in-fact of the respective Holders of the Securities of such series and the Holders of any Coupons appertaining thereto, with authority to make or file in the event that respective names of the Holders of the Securities of such series and the Holders of any Coupons appertaining thereto or on behalf of all the Holders of Securities of all series and the Holders of any Coupons appertaining thereto for which it is Trustee shall consent any proof of debt, amendment of proof of debt, claim, petition or other document in any such proceedings and to the making receive payment of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counselany sums becoming distributable on account thereof, and to execute any other papers and documents and do and perform any and all acts and things for and on behalf of such Holders of the Securities of such series and the Holders of any Coupons appertaining thereto, as may be necessary or advisable in the opinion of the Trustee in order to have the respective claims of the Holders of the Securities of such series and the Holders of any Coupons appertaining thereto against the Issuer or any other expenses obligor on the Securities of such series and liabilities incurredany Coupons appertaining thereto and/or its property allowed in any such proceedings, and all advances madeto receive payment of or on account of such claims in moneys or such other properties payable therefor and to distribute the same; provided, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing however, that nothing herein contained shall be deemed to authorize or empower the Trustee to authorize or consent to or vote for or accept or adopt adopt, on behalf of any Securityholder Holder of Securities of any series or any Holder of any Coupons appertaining thereto, any plan of reorganization, arrangement, adjustment arrangement or composition affecting readjustment of the Issuer or any other obligor on the Securities of any Series series and any Coupons appertaining thereto or, by other action of any character in any such proceeding, to waive or the rights change in any way any right of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in Security of any series or any Holder of any Coupon appertaining thereto even though it may otherwise be entitled so to do under any present or future law, all such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy power or similar Personauthorization being thereby expressly denied. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining thereto, may be enforced by the Trustee for the Securities of such Series series without the possession of any of the Securities of such Series any series or any Coupon Coupons appertaining thereto thereto, or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the TrusteeTrustee for such series, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any or Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Itt Corp /Nv/), Indenture (Itt Corp /Nv/)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Senior Indenture (Teva Pharmaceutical Industries LTD), Senior Indenture (Teva Pharmaceutical Industries LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, ---then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series series and the Holders of any Coupons appertaining thereto, thereto the whole amount that then shall have become due and payable on all Securities of such Series series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoRegistered Holders, whether or not the principal of and interest on the Securities of such Series series are overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (General Mills Inc), Indenture (General Mills Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The If the Company covenants that (a) in case default shall be made in the payment of fail to pay any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of fail to pay the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company will pay to the Trustee for the Securities of such Series, Series for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series); ) 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 incurred by the Trustee and each predecessor Trustee, Trustee and their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case If the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums amounts so due and unpaid. In any such case, and the Trustee may prosecute any such action or proceedings to judgment or final decree, decree and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys amounts adjudged or decreed to be payable. In case If (i) there shall be pending proceedings relative to the Company or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, (ii) a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor or (iii) any other comparable judicial proceedings relative to the Company or other obligor upon such under the Securities and Coupons, if anyof any Series, or to the creditors or property of the Company or such other obligor, the Trusteeshall be pending, and irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, the Trustee shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, any Series 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 reasonable compensation to to, and expenses incurred by, the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such any Series, or to the creditors or property of the Company or such other obligor; and (b) to collect and receive any moneys funds or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to and expenses incurred by such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee counsel and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.066.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personproceeding. All rights of action and of asserting claims under this Indenture, Indenture or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any . Any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any . Any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party)such Series, the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Fluor Corp), Indenture (Fluor Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Corporation covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series Maturity or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company Corporation will pay to the Trustee for the Securities of such Series, Series for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or yield to maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to to, and all expenses and liabilities incurred and all advances with interest made by, the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeexcept as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Corporation may pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company Corporation shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Corporation or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Corporation or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Corporation or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or State bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Corporation or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Corporation or other obligor upon such under the Securities and Coupons, if anyof any Series, or to the creditors or property of the Company Corporation or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) 1. to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such any Series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01Series) and interest owing and unpaid in respect of the Securities of such any Series, 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 reasonable compensation to to, and all expenses and liabilities incurred and all advances with interest made by, the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement except as a result of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteenegligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Corporation or other obligor upon all Securities of such any Series, or to the creditors or property of the Company Corporation or such other obligor; , and (b) 2. to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to to, and all expenses and liabilities incurred and all advances with interest made by, such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee counsel and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.066.7, except as a result of Trustee's negligence or bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personproceeding. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series or Coupons without the possession of any of the Securities of such Series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any such Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Usg Corp), Indenture (Usg Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) The Republic covenants that if (i) in case default there shall be made a default in the payment of any installment of interest (including Additional Amounts) on any Series of the Debt Securities of any Series when such interest (including Additional Amounts) shall have become due and payable, and such default shall have continued for a period specified in the Terms of 30 days the Debt Securities, or (bii) in case default there shall be made a default in the payment of all or any part of the principal of any Series of the Debt Securities of any Series when the same shall have become due and payable, whether upon maturity or by acceleration or otherwise, and such default shall have continued for a period specified in the Terms of the Securities of such Series or upon any redemption or by declaration or otherwiseDebt Securities, then upon demand of the Trustee for Holders of not less than 25% of the Securities aggregate Outstanding principal amount of such SeriesSeries of Debt Securities (with a copy to the Trustee), the Company Republic will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the such Debt Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all such Debt Securities of such Series or such Coupons for principal of or interest(and premium, as the case may be (with if any), and interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable lawshall be legally enforceable, interest on any overdue installments of interest interest, at the same rate as the rate of interest specified or rates prescribed therefor in the Securities of such Series); and Debt Securities, and, in addition thereto, the Republic shall pay or cause to be paid such further amount as shall be sufficient to cover the documented costs and expenses of collectioncollection reasonably incurred, including reasonable compensation to the Trustee and each predecessor Trusteetrustee, their respective agents, attorneys and counsel, and any documented expenses and liabilities reasonably incurred, and all documented advances reasonably made, by the Trustee and each predecessor Trustee. trustee except as a result of their gross negligence or willful misconduct. (b) Until such demand is made by the TrusteeHolders of not less than 25% of the aggregate Outstanding principal amount of such Series of Debt Securities, the Company Republic may pay the principal of of, and interest on (including Additional Amounts), the Debt Securities of any Series to the Persons entitled theretoHolders, whether or not any payment under the principal of and interest on the Debt Securities of such Series are shall be overdue. . (c) In case the Company Republic shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action proceedings in Brazil or proceedings at law or in equity arbitration for the collection of the sums so due and unpaid, and may prosecute any such action arbitration or proceedings to final award, Brazilian judgment or final decree, and may enforce any such final award, Brazilian judgment or final decree against the Company or other obligor upon such Securities Republic and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons, wherever situated, the moneys monies adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise:. (ad) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action arbitration and of asserting claims under this Indenture, Indenture or under any of the Debt Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Debt Securities of such Series or any Coupon appertaining thereto or the production thereof at in any arbitration, trial or other proceedings relative thereto, and any such arbitration, action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of on an award or judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Debt Securities of such that Series and Holders of any Coupons in respect of which such action was taken. award or judgment has been recovered. (e) In any arbitration or proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party)) with respect to one or several Series of Debt Securities, the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takenof Debt Securities, and it shall not be necessary to make any such Holders of such Securities and Coupons appertaining thereto parties to any such arbitration or proceedings.

Appears in 2 contracts

Samples: Indenture (Federative Republic of Brazil), Indenture (Federative Republic of Brazil)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (1) The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any Additional Amounts on any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series series, and such Coupons, for principal, interest or such Coupons for principal of or interestAdditional Amounts, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, bad faith or willful misconduct. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. . (2) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer, the Guarantor or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer, the Guarantor or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. . (3) In case there shall be pending proceedings relative to the Issuer, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property, the Guarantor or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.025.2, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest and Additional Amounts (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence, bad faith or any predecessor Trustee pursuant to Section 6.06willful misconduct. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (4) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (5) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Indenture (AXIS Specialty Finance LLC), Junior Subordinated Indenture (AXIS Specialty Finance LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any of the premium, if any, on any Securities of any Series series when the same shall have become due and payable, whether upon maturity Stated Maturity of the Securities of such Series series or upon any redemption or by declaration acceleration or otherwise, otherwise or (c) in case of default in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due by the terms of the Securities of any series -- then upon demand of the Trustee for the Securities of such Seriesseries, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders Holder of the Securities of any such Series and the Security (or Holders of any Coupons appertaining thereto, such series of Securities in the case of clause (c) above) the whole amount that then shall have become due and payable on all any such Security (or Securities of any such Series or such Coupons series in the case of clause (c) above) for principal of or the principal, premium, if any, and interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal and premium, if any, and, to the extent that so far as payment of such interest the same is enforceable under applicable law, on overdue installments of interest interest, at the same rate as the rate Overdue Rate applicable to any such Security (or Securities of interest specified any such series in the Securities case of such Seriesclause (c)); and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by further amounts payable to the Trustee, the Company may pay the principal of its agents and interest on the Securities of any Series counsel pursuant to the Persons entitled thereto, whether or not the principal provisions of and interest on the Securities of such Series are overdueSection 7.6. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities (or Securities of any such series in case of clause (c)) and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons(or Securities of any such series in case of clause (c)), wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the The Trustee shall have made any demand pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention either in such proceedings its own name as trustee of an express trust, or otherwise: (a) to file and prove a claim or claims as attorney-in- fact for the whole amount Holders of principal (or, if any of the Securities of such Series are Discount Securities, or in both such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Seriescapacities, and to file such proof of debt, amendment of proof of debt, claim, petition or other papers or documents document as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto Securities allowed in any equity receivership, insolvency, bankruptcy, liquidation, readjustment, reorganization or other similar proceedings, or any judicial proceedings proceedings, relative to the Company or any other obligor upon on the Securities or its creditors or its property. The Trustee is hereby irrevocably appointed (and the successive respective Holders of the Securities, by taking and holding the same, shall be conclusively deemed to have so appointed the Trustee) the true and lawful attorney-in-fact of the respective Holders of the Securities, with authority to make or file in the respective names of the Holders of the Securities any proof of debt, amendment of proof of debt, claim, petition or other document in any such proceedings and to receive payment of any sums becoming distributable on account thereof, and to execute any other papers and documents and do and perform any and all Securities acts and things for and on behalf of such Series, Holders of the Securities as may be necessary or advisable in the opinion of the Trustee in order to have the creditors or property respective claims of the Holders of the Securities against the Company or any other obligor; and (b) to collect and receive any moneys or other obligor on the Securities and/or its property payable or deliverable on allowed in any such claimsproceedings, and to distribute all amounts received with respect to the claims receive payment of the Securityholders and of the Trustee or on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities account of such Seriesclaims; provided, andhowever, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing nothing herein contained shall be deemed to authorize or empower the Trustee to authorize or consent to or vote for or accept or adopt adopt, on behalf of any Securityholder Holder of Securities, any plan of reorganization, arrangement, adjustment reorganization or composition affecting readjustment of the Company or any other obligor on the Securities or, by other action of any Series character in any such proceeding, to waive or the rights change in any way any right of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in Security, even though it may otherwise be entitled so to do under any present or future law, all such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy power or similar Personauthorization being hereby expressly denied. All rights of action and of asserting claims under this Indenture, Indenture or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Covanta Capital Trust Iii), Indenture (Covanta Capital Trust Iii)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders thereof, whether or not the principal of and interest on the Securities of such Series are be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled en- titled and empowered to institute any action or proceedings at law or in equity eq- uity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities the Se- curities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged ad- judged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganiza- tion, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal princi- pal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: : (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Discount Original Issue Dis- count Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, and to file such other papers or documents as may be necessary neces- sary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor TrusteeTrust- ee, and their respective agents, attorneys and counsel, and for reimbursement reimburse- ment of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors cred- itors or property of the Company Issuer or such other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.37

Appears in 2 contracts

Samples: Indenture (New Tenneco Inc), Indenture (New Tenneco Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in the case default shall be made in the payment of any installment of interest on or any Additional Amounts payable in respect of any of the Securities of any Series when such interest series or (b) in case principal shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series, or upon any redemption or by declaration or otherwiseotherwise -- then, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series series, and such coupons, for principal, interest or such Coupons for principal of or interestAdditional Amounts, if any, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest or any Additional Amounts at the same rate as the rate of interest or Yield to Maturity (in the case of Discount Securities) specified in the Securities of such Seriesseries); and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, collection including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal Trustee except as a result of and interest on the Securities of any Series to the Persons entitled thereto, whether its negligence or not the principal of and interest on the Securities of such Series are overduebad faith. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings proceeding at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or any other obligor upon the Securities under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or other obligor upon such the Securities and Coupons, if anyor any series, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal principal, interest (or, if the Securities of such Series any series are Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest any Additional Amounts owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company or such other obligor; , (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, and in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee the trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06under this Indenture. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon coupons appertaining thereto to such Securities or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of or judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities or of coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of or coupons appertaining to such Series and Coupons appertaining thereto Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons or coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Natural Microsystems Corp), Indenture (Natural Microsystems Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that in case (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then in either such case, upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal Trustee except as a result of and interest on the Securities of any Series to the Persons entitled thereto, whether its negligence or not the principal of and interest on the Securities of such Series are overduebad faith. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other reasonable expenses and liabilities incurred, and all reasonable advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings6.

Appears in 2 contracts

Samples: Indenture (Unisys Corp), Indenture (Unisys Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, incurred by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or any other obligor upon the Securities under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company or such other obligor; , (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this the Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the reasonable expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this the Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Palo Alto Networks Inc), Indenture (Palo Alto Networks Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, and such default shall have continued for a period of 30 days, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise C then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and the Securities Administrator and each predecessor TrusteeTrustee and Securities Administrator, reasonable fees and disbursements of their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, incurred by the Trustee and the Securities Administrator and each predecessor TrusteeTrustee and Securities Administrator except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer or the Guarantor, as the case may be, may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and Couponsthe Securities, wherever situated, the moneys monies adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or such other obligor or the property of any of them, or in case of any other comparable judicial proceedings relative to the Company Issuer or the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (ai) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and the Securities Administrator and each predecessor TrusteeTrustee and the Securities Administrator, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and the Securities Administrator and each predecessor TrusteeTrustee and the Securities Administrator, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or the Guarantor or such other obligor, (ii) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (biii) to collect and receive any moneys monies or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee and the Securities Administrator on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for and the Securities of such SeriesAdministrator, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee and the Securities Administrator such amounts as shall be sufficient to cover reasonable compensation to such Trusteethe Trustee and the Securities Administrator, each predecessor Trustee and the Securities Administrator and reasonable fees and disbursements of their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and the Securities Administrator and each predecessor Trustee and all other amounts due to such Trustee the Securities Administrator except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoseries, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto series or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Royal Bank of Scotland Group PLC), Indenture (Abn Amro Bank Nv)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment instalment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether 32 40 or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings 41 relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings5.

Appears in 2 contracts

Samples: Indenture (Cardinal Health Inc), Indenture (Cardinal Health Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (ai) in case a default shall be made in the payment of any installment of interest on any of the Securities of any Series Securities, as and when such interest the same shall have become due and payable, and such default shall have continued for a period in excess of 30 days days, or (bii) in case a default shall be made in the payment of all or any part of the principal of or premium, if any, on any of the Securities of any Series when and as the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by upon declaration or otherwise, then then, upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining theretoSecurities, the whole amount that then shall have become due and payable on all such Securities of such Series or such Coupons for principal of or interestand premium, as the case may be (if any, Interest, if any, with interest to the date of such payment upon the overdue principal andand premium, if any, of each such Security and (to the extent that payment of such interest is legally enforceable under applicable law, on overdue ) upon any installments of interest interest, at the same rate as the rate of interest specified in the Securities of borne by such Series)Security; and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including a reasonable compensation to the Trustee and each predecessor Trustee, their respective its agents, attorneys and counsel, and any expenses and or liabilities incurred, and all advances made, incurred by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether hereunder other than through its negligence or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personbad faith. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoseries, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto series, or the production thereof at on any trial or other proceedings proceeding relative thereto, and any such action suit or proceedings proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, judgment shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was takenseries. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takena series, and it shall not be necessary to make any Holders of the Securities of such Securities and Coupons appertaining thereto series parties to any such proceedings. In case of an Event of Default hereunder with respect to Securities of a particular series, the Trustee may, but, unless first requested so to do by the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series and furnished with indemnity satisfactory to the Trustee against all costs, expenses and liabilities, shall not be under any obligation to, proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either by suit in equity or by action at law or by proceedings in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of the Holder of any Security any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of any Security in any such proceeding.

Appears in 2 contracts

Samples: Indenture (Baxter International Inc), Indenture (Baxter International Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) The Province covenants that if (i) in case default there shall be made a default in the payment of any installment of interest (including Additional Amounts) on any Series of the Debt Securities of any Series when such interest (including Additional Amounts) shall have become due and payable, and such default shall have continued for a period specified in the Terms of 30 days the Debt Securities, or (bii) in case default there shall be made a default in the payment of all or any part of the principal of any Series of the Debt Securities of any Series when the same shall have become due and payable, whether upon maturity or by acceleration or otherwise, and such default shall have continued for a period specified in the Terms of the Securities of such Series or upon any redemption or by declaration or otherwiseDebt Securities, then upon demand of the Trustee for Holders of not less than 25% of the Securities aggregate Outstanding principal amount of such SeriesSeries of Debt Securities (with a copy to the Trustee), the Company Province will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the such Debt Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all such Debt Securities of such Series or such Coupons for principal of or interestprincipal, as the case may be (with and premium, if any, and interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable lawshall be legally enforceable, interest on any overdue installments of interest interest, at the same rate as the rate of interest specified or rates prescribed therefor in the Securities of such Series); and Debt Securities, and, in addition thereto, the Province shall pay or cause to be paid such further amount as shall be sufficient to cover the documented costs and expenses of collectioncollection reasonably incurred, including reasonable compensation to the Trustee and each predecessor Trusteetrustee, their respective agents, attorneys and counsel, and any documented expenses and liabilities reasonably incurred, and all documented advances reasonably made, by the Trustee and each predecessor Trustee. trustee except as a result of their negligence or willful misconduct. (b) Until such demand is made by the TrusteeHolders of not less than 25% of the aggregate Outstanding principal amount of such Series of Debt Securities, the Company Province may pay the principal of of, and interest on (including Additional Amounts), the Debt Securities of any Series to the Persons entitled theretoHolders, whether or not any payment under the principal of and interest on the Debt Securities of such Series are shall be overdue. . (c) In case the Company Province shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities Province and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsProvince, wherever situated, the moneys monies adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise:. (ad) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, Indenture or under any of the Debt Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Debt Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Debt Securities of such that Series and Holders of any Coupons in respect of which such action was taken. judgment has been recovered. (e) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party)) with respect to one or several Series of Debt Securities, the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takenof Debt Securities, and it shall not be necessary to make any such Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture, Indenture

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series shall be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under any applicable bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or such other obligor on the property of the Issuer or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, 4.02 shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer, or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to of which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Smith & Nephew PLC), Indenture (Smith & Nephew PLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, incurred by the Trustee and each predecessor Trusteepredecessor. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (ai) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) Trustee and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (ii) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (biii) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06‎Section 5.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this the Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the reasonable expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this the Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Trinet Group, Inc.), Indenture (Trinet Group Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company and the Guarantor each covenants that (a) in case default shall be made in the payment of any installment of interest on or any Additional Amounts any of the Securities of any Series when such interest or Additional Amounts shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same such interest on or any Additional Amounts shall have become due and payable, whether upon maturity Maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, Series for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest and Additional Amounts at the same rate as the rate of interest specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company or the Guarantor, as the case may be, may pay the principal of of, interest on, and interest on any Additional Amounts the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company or the Guarantor, as the case may be, shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or the Guarantor, as the case may be, or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Company, the Guarantor or any other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company, the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company, the Guarantor or their respective properties or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Company, the Guarantor or other obligor upon such under the Securities and Couponsof any Series, if any, or to the creditors or property of the Company Company, the Guarantor or any such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) 5.1 hereof), any premium, interest and interest Additional Amounts owing and unpaid in respect of the Securities of such any Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee,) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Company, the Guarantor or any other obligor upon all Securities of such any Series, or to the creditors or property of the Company Company, the Guarantor or any such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any Series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.066.6. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any such Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Senior Indenture (Alterra Finance LLC), Subordinated Indenture (Alterra Finance LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys agents and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Comcast Mo Group Inc), Indenture (Comcast Mo Group Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series shall be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Patriot Coal CORP), Indenture (Patriot Coal CORP)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise -- then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any reasonable expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, willful misconduct, recklessness or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence, willful misconduct, recklessness or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Nvidia Corp/Ca), Indenture (Nvidia Corp/Ca)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs costs, fee and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any fees, expenses and liabilities incurred, and all advances made, incurred by the Trustee and each predecessor TrusteeTrustee except as a result of its gross negligence or willful misconduct as determined by a final order of a court of competent jurisdiction. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoHolders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property Property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its Property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property Property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all fees, expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of gross negligence or willful misconduct as determined by a final order of a court of competent jurisdiction) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property Property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other fees, expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of gross negligence or willful misconduct as determined by a court of competent jurisdiction and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this the Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the reasonable expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this the Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Intuit Inc), Indenture (Intuit Inc)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal, state or non-U.S. bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Senior Indenture (Orbotech LTD), Subordinated Indenture (Orbotech LTD)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company and the Guarantor covenants that (a1) in the case default shall be made in the payment of any installment of interest on any of the Securities of any Series Series, as and when such interest the same shall have become due and payable, and such default shall have continued for a period of 30 days 90 days, or (b2) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when the same shall have become due and payable, whether upon maturity of the Securities of such Series or upon any redemption or by upon declaration or otherwiseotherwise -- then, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company or the Guarantor will pay to the Trustee for the Securities of such SeriesTrustee, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining theretoSeries, the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons for principal of or (and premium, if any) and interest, as the case may be (with interest to the date of such payment upon the any overdue principal and(and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law, on ) upon any overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Series); and , and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys its agents and counsel, and any all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal except as a result of and interest on the Securities of any Series to the Persons entitled thereto, whether its negligence or not the principal of and interest on the Securities of such Series are overduebad faith. In case the Company or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, decree and may enforce any such judgment or final decree against the Company or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or the Guarantor or other obligor obliger upon such Securities and Coupons, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Company or the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or the Guarantor or its property or such other obligor, or in case of any other judicial proceedings relative to the Company or the Guarantor or other obligor upon such the Securities and Coupons, if anyof any Series, or to the creditors or property of the Company Company, the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.026.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: , (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such any Series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01Series) , premium, if any, and interest owing paid and unpaid in respect of the Securities of such Series, any Series 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys its agents and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeexcept as a result of its negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Company, the Guarantor or other obligor upon all the Securities of such any Series, or to the creditors or property of the Company Company, the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any Series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; and bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, claims and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; behalf and any trusteereceiver, receiver or assignee, liquidator, custodian custodian, trustee or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such Series, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts amount as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys its agents and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of its negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting to assert claims under this Indenture, or under any of the Securities of any Series or any Coupon coupons appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or of any Coupon coupons appertaining thereto or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, judgment shall be for the ratable benefit of the Holders holders of the Securities of or coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of or coupons appertaining to such Series and Coupons appertaining thereto Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto or coupons parties to any such proceedings. In the case of an Event of Default hereunder the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture, or in aid of the exercise of any power granted in this Indenture, or otherwise, and the Trustee may enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

Appears in 2 contracts

Samples: Indenture (At&t Capital Corp /De/), Indenture (At&t Capital Corp /De/)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise -- then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Indenture (Source One Mortgage Services Corp), Subordinated Indenture (Source One Mortgage Services Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) The Republic covenants that if (i) in case default there shall be made a default in the payment of any installment of interest (including Additional Amounts) on any Series of the Debt Securities of any Series when such interest (including Additional Amounts) shall have become due and payable, and such default shall have continued for a period specified in the Terms of 30 days the Debt Securities, or (bii) in case default there shall be made a default in the payment of all or any part of the principal of any Series of the Debt Securities of any Series when the same shall have become due and payable, whether upon maturity or by acceleration or otherwise, and such default shall have continued for a period specified in the Terms of the Securities of such Series or upon any redemption or by declaration or otherwiseDebt Securities, then upon demand of the Trustee for Holders of not less than 25% of the Securities aggregate Outstanding principal amount of such SeriesSeries of Debt Securities (with a copy to the Trustee), the Company Republic will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the such Debt Securities of such Series and the Holders of any Coupons appertaining thereto, the whole amount that then shall have become due and payable on all such Debt Securities of such Series or such Coupons for principal of or interestprincipal, as the case may be (with and premium, if any, and interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable lawshall be legally enforceable, interest on any overdue installments of interest interest, at the same rate as the rate of interest specified or rates prescribed therefor in the Securities of such Series); and Debt Securities, and, in addition thereto, the Republic shall pay or cause to be paid such further amount as shall be sufficient to cover the documented costs and expenses of collectioncollection reasonably incurred, including reasonable compensation to the Trustee and each predecessor Trusteetrustee, their respective agents, attorneys and counsel, and any documented expenses and liabilities reasonably incurred, and all documented advances reasonably made, by the Trustee and each predecessor Trustee. trustee except as a result of their gross negligence or willful misconduct. (b) Until such demand is made by the TrusteeHolders of not less than 25% of the aggregate Outstanding principal amount of such Series of Debt Securities, the Company Republic may pay the principal of of, and interest on (including Additional Amounts), the Debt Securities of any Series to the Persons entitled theretoHolders, whether or not any payment under the principal of and interest on the Debt Securities of such Series are shall be overdue. . (c) In case the Company Republic shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities Republic and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and CouponsRepublic, wherever situated, the moneys monies adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise:. (ad) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, Indenture or under any of the Debt Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Debt Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Debt Securities of such that Series and Holders of any Coupons in respect of which such action was taken. judgment has been recovered. (e) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party)) with respect to one or several Series of Debt Securities, the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was takenof Debt Securities, and it shall not be necessary to make any such Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Republic of Colombia), First Supplemental Indenture (Republic of Colombia)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, and such default shall have continued for a period of 30 days, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise -- then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and Couponsthe Securities, wherever situated, the moneys monies adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or such other obligor or the property of any of them, or in case of any other comparable judicial proceedings relative to the Company Issuer or the Guarantor or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (ai) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer, the Guarantor or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer, the Guarantor or such other obligor; (ii) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligorbankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings; and (biii) to collect and receive any moneys monies or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series series or any Coupon Coupons appertaining thereto to such Securities or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Indenture (Abn Amro Bank Nv), Senior Indenture (Abn Amro Bank Nv)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Subordinated Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Subordinated Securities of any Series series when the same shall have become due and payable, whether upon maturity Maturity of the Subordinated Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Subordinated Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Subordinated Securities of such Series or series, and such Coupons Coupons, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Subordinated Securities) specified in the Subordinated Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Subordinated Securities of such series. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Subordinated Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Subordinated Securities of such Series are series be overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Indenture (Quadramed Corp), Subordinated Indenture (Healthsouth Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (1) The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any Additional Amounts on any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series series, and such Coupons, for principal, interest or such Coupons for principal of or interestAdditional Amounts, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence, bad faith or willful misconduct. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. . (2) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. . (3) In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.025.2, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest and Additional Amounts (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence, bad faith or any predecessor Trustee pursuant to Section 6.06willful misconduct. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (4) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (5) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (AXIS Specialty Finance LLC), Subordinated Indenture (AXIS Specialty Finance LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, incurred by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders Holders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the SecurityholdersHolders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder Holder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder Holder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this the Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the reasonable expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this the Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

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

Collection of Indebtedness by Trustee; Trustee May Prove Debt. (1) The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are be overdue. . (2) In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, situated the moneys adjudged or decreed to be payable. . (3) In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. person. (4) All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series series or any Coupon Coupons appertaining theretoto such Securities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the such Securities of such Series or any Coupon appertaining thereto Coupons or the production thereof at in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of or Coupons appertaining to such Series and Holders of any Coupons Securities in respect of which such action was taken. . (5) In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders of the Securities of such Series and or Coupons appertaining thereto to such Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and or Coupons appertaining thereto to such Securities parties to any such proceedings.

Appears in 2 contracts

Samples: Senior Indenture (Nationwide Financial Services Inc/), Subordinated Indenture (Nationwide Financial Services Inc/)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or series, and such Coupons Coupons, for principal of or and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and such other amount due the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6 in respect of Securities of such series. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered Holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such the Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and Couponsthe Securities, wherever situated, all the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such Securities and Coupons, if anythe Securities, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation amounts payable to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trusteeunder Section 6.6) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all Securities of such Seriesthe Securities, or to the creditors or property of the Company Issuer or such other obligor; and (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings, custodian or other person performing similar functions in respect of any such proceedings; and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee its costs and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee of collection and all other amounts due to such Trustee or any predecessor Trustee it pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings6.

Appears in 2 contracts

Samples: Indenture (McKesson Corp), Indenture (McKesson Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.065.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Indenture (Comcast Corp), Indenture (Comcast Corp)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Each of the Issuer and the Guarantor covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, --then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer or the Guarantor, as the case may be, will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer or the Guarantor, as the case may be, may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer or the Guarantor shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or the Guarantor or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or the Guarantor or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or the Guarantor or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Guarantor or such other obligor or the property of any of them, or in case of any other comparable judicial proceedings relative to the Company Issuer or the Guarantor or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or the Guarantor or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or the Guarantor or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or the Guarantor or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee and all other amounts due to such Trustee except as a result of negligence or any predecessor Trustee pursuant to Section 6.06bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of or reorganization, arrangement, adjustment or composition affecting the Securities of any Series series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Personperson. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining theretoSecurities, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), ) the Trustee shall be held to represent all the Holders holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders holders of such Securities and Coupons appertaining thereto parties to any such proceedings.

Appears in 2 contracts

Samples: Subordinated Indenture (Lasalle Funding LLC), Senior Indenture (Lasalle Funding LLC)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series series when the same shall have become due and payable, whether upon maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise--then, then upon demand of the Trustee for the Securities of such SeriesTrustee, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holders of the Securities of such Series and the Holders of any Coupons appertaining thereto, series the whole amount that then shall have become due and payable on all Securities of such Series or such Coupons series for principal of or interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such Seriesseries); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor TrusteeTrustee except as a result of its negligence or bad faith. Until such demand is made by the Trustee, the Company Issuer may pay the principal of and interest on the Securities of any Series series to the Persons entitled theretoregistered holders, whether or not the principal of and interest on the Securities of such Series are series be overdue. In case the Company Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such SeriesTrustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company Issuer or other obligor upon such Securities and CouponsSecurities, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Company Issuer or other obligor upon such the Securities and Coupons, if anyof any series, or to the creditors or property of the Company Issuer or such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of such Series any series are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to specified in the Securities terms of such Series pursuant to a declaration in accordance with Section 5.01series) and interest owing and unpaid in respect of the Securities of such Seriesany series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company Issuer or other obligor upon all the Securities of such Seriesany series, or to the creditors or property of the Company Issuer or such other obligor, (b) unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other obligor; bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (bc) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders Securityholders to make payments to the Trustee for the Securities of such SeriesTrustee, and, in the event that such the Trustee shall consent to the making of payments directly to the Securityholders, to pay to such the Trustee such amounts as shall be sufficient to cover reasonable compensation to such the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such the Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to such the Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings6.

Appears in 2 contracts

Samples: Indenture (Emerson Electric Co), Indenture (Emerson Electric Co)

Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Securities of any Series series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any of the premium, if any, on any Securities of any Series series when the same shall have become due and payable, whether upon maturity Maturity of the Securities of such Series series or upon any redemption or by declaration or otherwise, otherwise or (c) in case of default in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due by the terms of the Securities of any series--then upon demand of the Trustee for the Securities of such Seriesseries, the Company Issuer will pay to the Trustee for the Securities of such Series, for the benefit of the Holder of any such Security (or Holders of any such series of Securities in the Securities case of such Series clause (c) above) and the Holders of any Coupons appertaining thereto, thereto the whole amount that then shall have become due and payable on all any such Security (or Securities of any such Series or such Coupons series in the case of clause (c) above) and matured Coupons, if any, appertaining thereto for principal of or the principal, premium, if any, and interest, as the case may be (if any, with interest to the date of such payment upon the overdue principal and premium, if any, and, to the extent that so far as payment of such interest the same is enforceable under applicable law, on overdue installments of interest interest, at the same rate as the rate Overdue Rate applicable to any such Security (or Securities of interest specified any such series in the Securities case of such Seriesclause (c)); and and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation collection and any further amounts payable to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities and Coupons, wherever situated, the moneys adjudged or decreed to be payable. In case there shall be any judicial proceedings relative to the Company or other obligor upon such Securities and Coupons, if any, or to the creditors or property of the Company or other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series are Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.01) and interest owing and unpaid in respect of the Securities of such Series, 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 reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee) and of the Securityholders and the Holders of any Coupons appertaining thereto allowed in any judicial proceedings relative to the Company or other obligor upon all Securities of such Series, or to the creditors or property of the Company or other obligor; and (b) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor Trustee pursuant to Section 6.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. All rights of action and of asserting claims under this Indenture, or under any of the Securities of any Series or any Coupon appertaining thereto, may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such Series or any Coupon appertaining thereto or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities of such Series and Holders of any Coupons in respect of which such action was taken. In any proceedings brought by the Trustee for the Securities of any Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities of such Series and Coupons appertaining thereto in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities and Coupons appertaining thereto parties to any such proceedings7.

Appears in 2 contracts

Samples: Indenture (Itt Corp /Nv/), Indenture (Itt Corp /Nv/)

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