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

Corporate Trustee Required; Eligibility; Conflicting Interests. The Trustee shall comply with the terms of Section 310(b) of the TIA. There shall be at all times 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 (together with that of its parent, if applicable) of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to 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.

Appears in 8 contracts

Samples: Indenture (New Gold Inc. /FI), Indenture (Valens Company, Inc.), Indenture (Cardiol Therapeutics Inc.)

AutoNDA by SimpleDocs

Corporate Trustee Required; Eligibility; Conflicting Interests. The Trustee shall comply with the terms of Section 310(b) of the TIA. There shall be at all times 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 (together with that of its parent, if applicable) of at least $50,000,000). If such corporation publishes reports of condition at least annually, pursuant to law or to 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.

Appears in 3 contracts

Samples: Taseko Mines LTD, High Tide Inc., Northern Dynasty Minerals LTD

Corporate Trustee Required; Eligibility; Conflicting Interests. The Trustee shall comply with the terms of Section 310(b) of the TIA. There shall be at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have (or, in the case of a corporation included in a bank holding company system, the related bank holding company shall have) a combined capital and surplus (together with that of its parent, if applicable) of at least $50,000,000. If such corporation or holding company publishes reports of condition at least annually, pursuant to law or to the requirements of Federal, Statestate, territorial Territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation or holding company 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.

Appears in 2 contracts

Samples: Indenture (Novellus Systems Inc), SDL Inc

Corporate Trustee Required; Eligibility; Conflicting Interests. The Trustee shall comply with the terms of Section 310(b) of the TIA. There shall be at all times be a Trustee hereunder which shall qualified or to be eligible to act as Trustee qualified under TIA Section 310(a)(13l0(a)(l) and (5) and which, to the extent there is such an institution eligible and willing to serve, shall have a combined capital and surplus (together with that of its parent, if applicable) of at least $50,000,000. If such corporation publishes Trustee files reports of condition at least annually, pursuant to law or to the requirements of Federalfederal, Statestate, territorial or District of Columbia supervising or examining authority, then for the purposes of this SectionSection 608, 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 publishedfiled. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 608, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 2 contracts

Samples: Indenture (Oneok Inc /New/), Oneok Inc /New/

AutoNDA by SimpleDocs

Corporate Trustee Required; Eligibility; Conflicting Interests. The Trustee shall comply with the terms of Section 310(b(a) of the TIA. There shall be at all times 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 (together with that of its parent, if applicable) of at least $50,000,00050 million or be a member of a bank holding Company whose capital and surplus is $50 million. If such corporation publishes reports of condition at least annually, pursuant to law or to 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.

Appears in 1 contract

Samples: Dvi Inc

Corporate Trustee Required; Eligibility; Conflicting Interests. The Trustee shall comply with the terms of Section 310(b) of the TIA. There shall be at all times 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 (together with that of its parent, if applicable) of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of Federal, 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.

Appears in 1 contract

Samples: Indenture (B2gold Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.