Common use of Conflicting Interest Clause in Contracts

Conflicting Interest. If the Trustee has acquired or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.

Appears in 4 contracts

Samples: Indenture (Spectra Energy Corp.), Indenture (Spectra Energy Partners, LP), Indenture (Southwestern Energy Co)

AutoNDA by SimpleDocs

Conflicting Interest. If the Trustee has acquired or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.

Appears in 2 contracts

Samples: Indenture (Durango Corp), Indenture (Ventro Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!