Common use of Conditions Precedent to Trustee’s Obligations to Act Hereunder Clause in Contracts

Conditions Precedent to Trustee’s Obligations to Act Hereunder. (1) The obligation of the Trustee to commence or continue any act, action or proceeding for the purpose of enforcing the rights of the Trustee and of the Noteholders hereunder shall be conditional upon the Noteholders furnishing when required by notice in writing by the Trustee, sufficient funds to commence or continue such act, action or proceeding and indemnity reasonably satisfactory to the Trustee to protect and hold harmless the Trustee against the costs, charges and expenses and liabilities to be incurred thereby and any loss and damage it may suffer by reason thereof. Notwithstanding the foregoing, the Noteholders consent to the Trustee executing any waiver, estoppel letter or subordination agreement as advised by Counsel is required to be executed in connection with the Permitted Equipment Financing, without the further notice or consent of any Noteholder.

Conditions Precedent to Trustee’s Obligations to Act Hereunder. (1) The obligation of the Trustee to commence or continue any act, action or proceeding for the purpose of enforcing the rights of the Trustee and of the Noteholders Debentureholders hereunder shall be conditional upon the Noteholders Debentureholders furnishing when required by notice in writing by the Trustee, sufficient funds to commence or continue such act, action or proceeding and indemnity reasonably satisfactory to the Trustee to protect and hold harmless the Trustee against the costs, charges and expenses and liabilities to be incurred thereby and any loss and damage it may suffer by reason thereof. Notwithstanding the foregoing, the Noteholders Debentureholders consent to the Trustee executing any waiver, estoppel letter or subordination agreement as advised by Counsel is required to be executed in connection with the Permitted Equipment Financing, without the further notice or consent of any NoteholderDebentureholder.

Conditions Precedent to Trustee’s Obligations to Act Hereunder. (1) 12.13 The obligation of the Trustee to commence or continue any act, action act or proceeding for the purpose of enforcing the rights of the Trustee and of the Noteholders Debentureholders hereunder shall be conditional upon the Noteholders furnishing Debentureholders furnishing, when required by notice in writing by the Trustee, sufficient funds to commence or continue such act, action or proceeding and indemnity reasonably satisfactory to the Trustee to protect and hold harmless the Trustee against the costs, charges and expenses and liabilities to be incurred thereby and any loss and damage it may suffer by reason thereof. Notwithstanding None of the foregoing, the Noteholders consent to provisions contained in this indenture shall require the Trustee executing any waiver, estoppel letter to expend or subordination agreement as advised by Counsel is required to be executed risk its own funds or otherwise incur financial liability in connection with the Permitted Equipment Financing, without the further notice or consent performance of any Noteholderof its duties or in the exercise of any of its rights or powers unless indemnified as aforesaid.