Common use of Conflicting Interest of Trustee Clause in Contracts

Conflicting Interest of Trustee. (a) If, after an Event of Default has occurred and is continuing, the Trustee has or shall acquire any conflicting interest, as defined in this Section 6.08, it shall, within 90 days after ascertaining that it has such conflicting interest, either eliminate such conflicting interest or, unless the Trustee's duty to resign is stayed as provided in Section 310(b) of the Trust Indenture Act of 1939, resign in the manner and with the effect specified in Section 6.10, such resignation to become effective upon the appointment of a successor trustee and such successor's acceptance of such appointment, and the Company shall take prompt steps to have a successor appointed in the manner provided in Section 6.10.

Conflicting Interest of Trustee. (a) If, after an Event of Default has occurred and is continuing, If the Trustee has or shall acquire any conflicting interest, as defined in this Section 6.08, it shall, within 90 days after ascertaining that it has such conflicting interest, either eliminate such conflicting interest or, unless the Trustee's duty to resign is stayed as provided in Section 310(b) of the Trust Indenture Act of 1939, resign in the manner and with the effect specified in Section 6.10, such resignation to become effective upon the appointment of a successor trustee and such successor's acceptance of such appointment, and the Company shall take prompt steps to have a successor appointed in the manner provided in Section 6.10.

Conflicting Interest of Trustee. (a) If, after an Event of Default has occurred and is continuing, If the Trustee has or shall acquire any conflicting interest, as defined in this Section 6.087.08, it shallthen, within 90 days after ascertaining that it has such conflicting interest, and if the default (as defined in Section 7.08(c)) to which such conflicting interest relates has not been cured or duly waived or otherwise eliminated before the end of such 90-day period, the Trustee shall either eliminate such conflicting interest or, unless the Trustee's duty to resign is stayed except as otherwise provided in this Section 310(b) of the Trust Indenture Act of 19397.08, resign in the manner and with the effect specified in Section 6.10, such resignation to become effective upon the appointment of a successor trustee and such successor's acceptance of such appointment7.10, and the Company shall take prompt steps to have a successor appointed in the manner provided in Section 6.107.10.

Conflicting Interest of Trustee. (a) If, after an Event of Default has occurred and is continuing, If the Trustee has or shall acquire any conflicting interest, as defined in this Section 6.087.08, it shallthen, within 90 ninety days after ascertaining that it has such conflicting interest, and if the default (as defined in Section 7.08(c)) to which such conflicting interest relates has not been cured or duly waived or otherwise eliminated before the end of such ninety-day period, the Trustee shall either eliminate such conflicting interest or, unless the Trustee's duty to resign is stayed except as otherwise provided in this Section 310(b) of the Trust Indenture Act of 19397.08, resign in the manner and with the effect specified in Section 6.10, such resignation to become effective upon the appointment of a successor trustee and such successor's acceptance of such appointment7.10, and the Company shall take prompt steps to have a successor appointed in the manner provided in Section 6.107.10.