Common use of Corporate Trustee Required; Eligibility; Conflicting Interests Clause in Contracts

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. Neither the Partnership nor any Person directly or indirectly controlling, controlled by, or under common control with the Partnership shall serve as Trustee.

Appears in 10 contracts

Samples: Indenture (Brandywine Operating Partnership Lp /Pa), Indenture (Heritage Property Investment Trust Inc), Indenture (Bradley Operating L P)

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Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have at all times a combined capital and surplus of at least $50,000,000. If such corporation the Trustee publishes reports of condition at least annually, pursuant to law or the requirements of Federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation the Trustee shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. Neither the Partnership Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Partnership Company shall serve as Trustee.

Appears in 6 contracts

Samples: Indenture (Boston Properties LTD Partnership), Indenture (Boston Properties LTD Partnership), Indenture (Bay Apartment Communities Inc)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(13.10(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. Neither the Partnership Issuer nor any Person directly or indirectly controlling, controlled by, or under common control with the Partnership Issuer shall serve as Trustee.

Appears in 4 contracts

Samples: Indenture (American Standard Companies Inc), Indenture (American Standard Companies Inc), Indenture (American Standard Companies Inc)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federalfederal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 6.07, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.07, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VI. Neither the Partnership Company nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Company shall serve as Trustee.

Appears in 3 contracts

Samples: Indenture (Franchise Finance Corp of America), Indenture (Metropolitan Mortgage & Securities Co Inc), Indenture (Franchise Finance Corp of America)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus Surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 6.7, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.7, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VI. Neither the Partnership Company nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Company shall serve as Trustee.

Appears in 3 contracts

Samples: Indenture (Commercial Net Lease Realty Inc), Indenture (National Retail Properties, Inc.), Indenture (Commercial Net Lease Realty Inc)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federalfederal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 607, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 607, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle Six. Neither the Partnership Company nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Company shall serve as Trustee.

Appears in 3 contracts

Samples: Indenture (Shurgard Storage Centers Inc), Indenture (Shurgard Storage Centers Inc), Indenture (Shurgard Storage Centers Inc)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such 44 corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federalfederal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 6.07, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.07, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VI. Neither the Partnership Company nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Company shall serve as Trustee.

Appears in 1 contract

Samples: Indenture (Summit Securities Inc /Id/)

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Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federalfederal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 7.23, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 7.23, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VII. Neither the Partnership Issuer nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Issuer shall serve as Trustee.

Appears in 1 contract

Samples: Indenture of Trust (Union Financial Services I Inc)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus 69 Surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 6.7, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.7, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VI. Neither the Partnership Company nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Company shall serve as Trustee.

Appears in 1 contract

Samples: Indenture (Commercial Net Lease Realty Inc)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $[50,000,000]. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federalfederal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 6.07, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.07, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VI. Neither the Partnership Company nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Company shall serve as Trustee.

Appears in 1 contract

Samples: Indenture (Terra Capital Group)

Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of Federalfederal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 607, the combined capital and surplus of such 52 corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 607, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle Six. Neither the Partnership Company nor any Person directly or indirectly controlling, controlling or controlled by, or under common control with with, the Partnership Company shall serve as Trustee.

Appears in 1 contract

Samples: Indenture (Shurgard Storage Centers Inc)

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