Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Six.
Appears in 34 contracts
Samples: Indenture (Alto Ingredients, Inc.), Indenture (Pacific Ethanol, Inc.), Indenture (Globalstar, Inc.)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities 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 SixArticle.
Appears in 28 contracts
Samples: Subordinated Indenture (Plains Exploration & Production Co), Subordinated Indenture (Plains E&p Co), Senior Indenture (Plains Exploration & Production Co)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be eligible to act as such pursuant to the Trust Indenture Act and which shall be a corporation organized and doing business under the laws of the United States of America, any State state thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 6.9, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.9, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixVI.
Appears in 14 contracts
Samples: Indenture (Exela Technologies, Inc.), Indenture (Exela Technologies, Inc.), First Supplemental Indenture (Tellurian Inc. /De/)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 subject to supervision or examination by Federal or State authorityauthority and having its Corporate Trust Office in any State in the United States of America or in the District of Columbia. If such corporation publishes or files reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, 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. The Trustee shall not be an obligor upon the Securities published or an Affiliate thereoffiled. 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 SixArticle.
Appears in 14 contracts
Samples: Subordinated Indenture (Masco Corp /De/), Subordinated Indenture (Masco Corp /De/), Subordinated Indenture (Masco Corp /De/)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50 million and subject to supervision or examination by Federal federal or State state (or the District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 609, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article Six. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 14 contracts
Samples: Indenture (Noble Holding International LTD), Indenture (Noble Holding International LTD), Indenture (Noble Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of AmericaStates, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. No obligor upon any Security issued under this Indenture or a person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee under this Indenture.
Appears in 12 contracts
Samples: Indenture (NGC Corp), Subordinated Indenture (Dynegy Capital Trust Iii), Subordinated Debt Indenture (Dynegy Capital Trust Iii)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 12 contracts
Samples: Indenture (Key Energy Group Inc), Indenture (Cooper Cameron Corp), Indenture (Key Energy Services Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50 million and subject to supervision or examination by Federal federal or State state (or the District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 6.09, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Article Six. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 10 contracts
Samples: Indenture (Abraxas Petroleum Corp), Indenture (Abraxas Petroleum Corp), Indenture (Brigham Holdings Ii LLC)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State (or District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 10 contracts
Samples: Indenture (Key Energy Services Inc), Indenture (Key Energy Group Inc), Indenture (Cooper Cameron Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or being part of a holding company group with) a combined capital and surplus required by the Trust Indenture Actof at least U.S. $50,000,000, subject to supervision or examination by Federal federal or State state authority, and in good standing. The Trustee or an Affiliate of the Trustee shall maintain an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 10 contracts
Samples: Indenture (Sonus Networks Inc), Indenture (Mercury Interactive Corporation), Indenture (Atmi Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or be part of a holding company group with) a combined capital and surplus required by the Trust Indenture Actof at least U.S. $50,000,000, subject to supervision or examination by Federal federal or State state authority, and in good standing. The Trustee or an Affiliate of the Trustee shall maintain an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 9 contracts
Samples: Indenture (Hewitt Associates Inc), Indenture (Advanced Energy Industries Inc), Indenture (Exult Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50 million and subject to supervision or examination by Federal or State (or the District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 609, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 9 contracts
Samples: Indenture (Iveda Solutions, Inc.), Indenture (Duos Technologies Group, Inc.), Indenture (Esports Entertainment Group, Inc.)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which that shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, then it shall resign immediately in the manner and with the effect hereinafter specified in this Article Six.
Appears in 7 contracts
Samples: Indenture (Sun Communities Inc), Indenture (Sun Communities Operating Limited Partnership), Indenture (Just Energy Group Inc.)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal federal or State authoritystate authority and qualified and eligible under this Article and otherwise permitted by the Trust Indenture Act to act as Trustee under an Indenture qualified under the Trust Indenture Act. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 7 contracts
Samples: Subordinated Note Indenture (Southern Power Co), Subordinated Note Indenture (Agl Capital Corp), Subordinated Note Indenture (Gulf Power Co)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least U.S.$50,000,000, and subject to supervision or examination by United States Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities 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 SixArticle.
Appears in 7 contracts
Samples: Indenture (Arauco & Constitution Pulp Inc), Indenture (Arauco & Constitution Pulp Inc), Indenture (Corpbanca/Fi)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 609, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixArticle.
Appears in 7 contracts
Samples: Indenture (NuStar Energy L.P.), Indenture (NuStar Pipeline Operating Partnership L.P.), Indenture (Tc Pipelines Lp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an No obligor upon the Securities or an Affiliate thereofPerson directly or indirectly controlling, controlled by, or under common control with such obligor shall serve as Trustee upon the Securities. 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 SixArticle.
Appears in 6 contracts
Samples: Share Repurchase Agreement (American International Group Inc), Junior Subordinated Indenture (AerCap Global Aviation Trust), Indenture (International Lease Finance Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be that is a corporation Person organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having or any other Person permitted by the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus required by (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, is subject to supervision or examination by Federal Federal, State or State authorityDistrict of Columbia authority and is not otherwise ineligible under Section 310(a)(5) of the Trust Indenture Act. If such corporation Person publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 5 contracts
Samples: Indenture (Nisource Finance Corp), Indenture (Peoples Energy Corp), Indenture (Nisource Finance Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation or association organized and doing business under the laws of the United States of America, America or of any State thereof state that is either a trust company or a bank in good standing in the District of ColumbiaCommonwealth, authorized under such laws to exercise corporate trust powerspowers and authorized under the Act to act as Trustee hereunder, having a combined capital capital, surplus and surplus required by the Trust Indenture Actundivided profits of at least $100,000,000, subject to supervision or examination by Federal federal or State authoritystate authority and shall not be a Disqualified Contractor. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes purpose 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 5 contracts
Samples: Trust Indenture (York Water Co), Trust Indenture (York Water Co), Trust Indenture (York Water Co)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be that is a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having or any other Person permitted by the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus required by (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, is subject to supervision or examination by Federal Federal, State or State authorityDistrict of Columbia authority and is not otherwise ineligible under Section 310(a)(5) of the Trust Indenture Act. If such corporation Corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 5 contracts
Samples: Indenture (Nipsco Industries Inc), Indenture (American Water Capital Corp), Indenture (New Nisource Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of AmericaAmerica or of any state, any State thereof territory or the District of Columbia, authorized under such laws to exercise corporate trust powerspowers and subject to supervision or examination by Federal, state, territorial or District of Columbia authority, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then then, for the purposes purpose 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder.
Appears in 5 contracts
Samples: Junior Subordinated Indenture (Nationwide Financial Services Inc/), Junior Subordinated Indenture (Nationwide Financial Services Inc/), Indenture (Western Wireless Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal and State or State District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.10.
Appears in 4 contracts
Samples: Indenture (Signature Resorts Inc), Indenture (Signature Resorts Inc), Indenture (Signature Resorts Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be eligible to act as such pursuant to the Trust Indenture Act and which shall be a corporation Corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal federal or State state authority. If such corporation Corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said such supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixVIII.
Appears in 4 contracts
Samples: Indenture (LPL Financial Holdings Inc.), Indenture (LPL Holdings, Inc.), Indenture (LPL Holdings Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50 million and subject to supervision or examination by Federal federal or State state (or the District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 609, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article Six. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310 (a) (1), 310 (a) (2) and 310 (a) (5) of the Trust Indenture Act.
Appears in 4 contracts
Samples: Indenture (Noble Corp), Indenture (Noble Drilling Corp), Indenture (Noble Drilling Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or if the Trustee is a member of a bank holding company, its bank holding company has) a combined capital and surplus required by the Trust Indenture Actof at least U.S.$50,000,000, subject to supervision or examination by Federal or State state authority, in good standing. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 4 contracts
Samples: Indenture (Cypress Semiconductor Corp /De/), Indenture (Vantive Corp), Indenture (Wind River Systems Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authorityauthority and, to the extent there is such an institution eligible and willing to serve, having an office or agency in the City of New York. If such corporation publishes reports of condition at least annually, annually pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 4 contracts
Samples: Contingent Value Rights Agreement, Contingent Value Rights Agreement (Aclara Biosciences Inc), Contingent Value Rights Agreement (Aclara Biosciences Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or be part of a holding company group with) a combined capital and surplus required by the Trust Indenture Actof at least U.S. $50,000,000, subject to supervision or examination by Federal or State state authority, and in good standing. The Trustee or an Affiliate of the Trustee shall maintain an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 4 contracts
Samples: Indenture (Solectron Corp), Indenture (Solectron Corp), Indenture (Mercury Computer Systems Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall (i) be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, (ii) be authorized under such laws to exercise corporate trust powers, having (iii) have a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and (iv) be subject to supervision or examination by Federal or State authority. If such corporation publishes files reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereoffiled. 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 Six. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder.
Appears in 4 contracts
Samples: Junior Subordinated Indenture (Principal Financial Group Inc), Subordinated Indenture (Fisher Scientific International Inc), Senior Indenture (Fisher Scientific International Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, (together with that of its parent) of at least $50,000,000 and subject to supervision or examination by Federal or State (or District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 4 contracts
Samples: Indenture (Viking International LTD), Indenture (Viking International LTD), Indenture (Aviall Services Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $10,000,000 subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an No obligor upon the Securities or an Affiliate thereofPerson directly or indirectly controlling, controlled by, or under common control with such obligor shall serve as Trustee upon the Securities. 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 SixArticle.
Appears in 4 contracts
Samples: Indenture (Nationwide Health Properties Inc), Indenture (Nationwide Health Properties Inc), Indenture (Nationwide Health Properties Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. No obligor upon any Security issued under this Indenture or a person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee under this Indenture.
Appears in 3 contracts
Samples: Indenture (Usa Waste Services Inc), Senior Indenture (Watson Pharmaceuticals Inc), Indenture (Usa Waste Services Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000, shall be subject to supervision or examination by Federal or State authority and shall be a corporation organized and doing business under the laws of the United States of AmericaStates, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, subject to supervision or examination by Federal or State authority. If such corporation Person publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 3 contracts
Samples: Indenture (Stena Ab), Indenture (Stena Ab), Indenture (Stena Ab)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal federal or State state or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 3 contracts
Samples: Indenture (National Oilwell Varco Inc), Indenture (FMC Technologies Inc), Indenture (FMC Technologies Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be that is a corporation Corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having or any other person permitted by the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus required by (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, is subject to supervision or examination by Federal Federal, State or State authorityDistrict of Columbia authority and is not otherwise ineligible under Section 310(a)(5) of the Trust Indenture Act. If such corporation Corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 2 contracts
Samples: Indenture (Nipsco Industries Inc), Indenture (Nipsco Industries Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of AmericaStates, any State state thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. No obligor upon any Security issued under this Indenture or a person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee under this Indenture.
Appears in 2 contracts
Samples: Subordinated Indenture (Illinois Power Co), Indenture (Illinois Power Co)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Six.
Appears in 2 contracts
Samples: Indenture (Anadarko Petroleum Capital Trust Iii), Indenture (Anadarko Petroleum Capital Trust Iii)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall (i) be a corporation organized and doing business under the laws of the United States of America, any State state thereof or the District of Columbia, (ii) be authorized under such laws to exercise corporate trust powers, having (iii) have a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and (iv) be subject to supervision or examination by Federal federal or State state authority. If such corporation Person files or publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so filed or published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Six. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder.
Appears in 2 contracts
Samples: Senior Indenture (Third Point Reinsurance Ltd.), Senior Indenture (Third Point Re (USA) Holding Inc.)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having a combined capital and surplus required by the Trust Indenture Actof at least U.S. $50,000,000, subject to supervision or examination by Federal federal or State state authority, and in good standing. The Trustee or an Affiliate of the Trustee shall maintain an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 2 contracts
Samples: Indenture (Cirrus Logic Inc), Indenture (Cirrus Logic Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized eligible to act as trustee under Trust Indenture Act Section 310(a)(1) and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having which shall have a combined capital and surplus required by of at least $100,000,000, to the extent there is an institution eligible and willing to serve. The Trustee shall be a participant in the Depository Trust Indenture Act, subject to supervision or examination by Federal or State authorityCompany and FAST distribution systems. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said federal, state, 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 shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 608, it the Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article SixARTICLE SIX. The Corporate Trust Office shall initially be located at Xxxxx Fargo Bank, National Association, 000 Xxxxxxxx Xxxxxxxxx, 00xx Xxxxx, Xxx Xxxxxxx, XX 00000, Attention: Corporate Trust Department.
Appears in 2 contracts
Samples: Indenture (New Century Financial Corp), Indenture (New Century Financial Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation bank or trust company organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. No obligor upon any Security issued under this Indenture or a Person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee under this Indenture.
Appears in 2 contracts
Samples: Subordinated Indenture (Marine 300 Series Inc), Indenture (Marine 300 Series Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities shall cease to be eligible in accordance with the provisions of this SectionSection or in accordance with Section 310(a)(5) of the Trust Indenture Act, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixArticle.
Appears in 2 contracts
Samples: Indenture (Upr Capital Co), Indenture (Union Pacific Resources Group Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which that shall be a corporation organized and doing business under the laws of the United States of America, America or of any State or Territory thereof or of the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes of this SectionSection 5.09, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 5.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixV. No obligor upon any Notes issued under this Indenture or Person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee under this Indenture.
Appears in 2 contracts
Samples: Indenture (Verisign Inc/Ca), Indenture (Verisign Inc/Ca)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a corporation organized Person that is eligible pursuant to the Trust Indenture Act to act as such and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having have a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation Person publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then then, for the purposes of this Section, the combined capital and surplus of such corporation Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to the Securities of any series 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 SixArticle. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder.
Appears in 2 contracts
Samples: Indenture (PVH Corp. /De/), Indenture (PVH Corp. /De/)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall (i) be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, (ii) be authorized under such laws to exercise corporate trust powers, having (iii) have a combined capital and surplus required by the Trust Indenture Actof at least U.S. $50,000,000, and (iv) be subject to supervision or examination by Federal Federal, State, territorial or State District of Columbia authority. If such corporation publishes files reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereoffiled. 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 Six. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder.
Appears in 2 contracts
Samples: Senior Indenture (EAM Corp), Senior Indenture (Domtar Paper Company, LLC)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation or association organized and doing business under the laws of the United States of America, America or of any State thereof state that is either a trust company or a bank in good standing in the District of ColumbiaCommonwealth, authorized under such laws to exercise corporate trust powerspowers and authorized under the Act to act as Trustee hereunder, having a combined capital capital, surplus and surplus required by the Trust Indenture Actundivided profits of at least $100,000,000, subject to supervision or examination by Federal federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes purpose 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 2 contracts
Samples: Trust Indenture (York Water Co), Trust Indenture (York Water Co)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authorityauthority and having its Corporate Trust Office in Minneapolis, Minnesota. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. Neither the Company nor any person directly or indirectly controlling, controlled by, or under common control with the Company shall serve as trustee for the Securities.
Appears in 2 contracts
Samples: Indenture (Cii Financial Inc), Indenture (Cii Financial Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. No obligor upon any Security issued under this Indenture or a Person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee under this Indenture.
Appears in 2 contracts
Samples: Indenture (Health Management Associates Inc), Indenture (Health Management Associates Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be that is a corporation Person organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having or any other Person permitted by the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus required by (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, is subject to supervision or examination by Federal Federal, State or State authorityDistrict of Columbia authority and is not otherwise ineligible under Section 310(a)(5) of the Trust Indenture Act. If such corporation Person publishes reports of condition at least annually, pursuant to law or to the -45- requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 2 contracts
Samples: Indenture (Pec Funding Trust I), Indenture (Pec Funding Trust I)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having (or, in the case of a subsidiary of a bank holding company, its parent shall have) a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. Neither the Company nor any Affiliate of the Company may serve as Trustee.
Appears in 2 contracts
Samples: Indenture (Gatx Corp), Indenture (Gatx Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or if the Trustee is a member of a bank holding company, its bank holding company has) a combined capital and surplus required by the Trust Indenture Actof at least U.S.$50,000,000, subject to supervision or examination by Federal or State state authority, in good standing. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.09.
Appears in 2 contracts
Samples: Indenture (Veritas Software Corp), Indenture (Ventro Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. No obligor upon any Security issued under this Indenture or a Person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee under this Indenture.
Appears in 2 contracts
Samples: Subordinated Indenture (Newfield Financial Trust Ii), Subordinated Indenture (Newfield Exploration Co /De/)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of AmericaU.S., any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSECTION 609, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSECTION 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixARTICLE SIX. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 2 contracts
Samples: Indenture (Grey Wolf Inc), Indenture (Grey Wolf Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50 million and subject to supervision or examination by Federal federal or State state (or the District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 6.09, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 2 contracts
Samples: Indenture (Primero Gas Marketing Co Inc), Indenture (Primero Gas Marketing Co Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by United States Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities 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 SixArticle.
Appears in 1 contract
Samples: Indenture (Banco Santander Chile)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of Columbiastate, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $75,000,000, subject to supervision or examination by Federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. first-class mail, postage prepaid, to the Owners of Obligations at their addre. Each notice shall include the name and address of the designated corporate trust office of the successor Trustee.
Appears in 1 contract
Samples: Trust Indenture
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $55,000,000, subject to supervision or examination by Federal or State authorityauthority and having its Corporate Trust Office in Los Angeles, California or New York, New York. If such -42- corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. Neither the Company nor any person directly or indirectly controlling, controlled by, or under common control with the Company shall serve as trustee for the Securities.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 subject to the supervision or and examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an No obligor upon the Securities or an Affiliate thereofa Person directly or indirectly controlling, controlled by, or under common control with such obligor shall serve as Trustee upon the Securities. 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 SixArticle.
Appears in 1 contract
Samples: Restated Indenture (Allied Waste North America Inc/De/)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an No obligor upon the Securities or an Affiliate thereofPerson directly or indirectly controlling, controlled by, or under common control with such obligor shall serve as Trustee upon the Securities. 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 SixArticle.
Appears in 1 contract
Samples: Indenture (Teledyne Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal United States federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities 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 SixArticle.
Appears in 1 contract
Samples: Indenture (Hqi Transelec Chile S A)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having a combined capital and surplus required by (or for such purposes, the Trust Indenture Actcombined capital and surplus of any parent holding company) of at least U.S.$25,000,000, subject to supervision or examination by Federal or State authority, in good standing and having an office or agent in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Six.and a successor shall be appointed pursuant to Section 6.9. -----------
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authorityauthority and qualified and eligible under this Article. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said such 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. The Trustee shall not be an No obligor upon the Securities or an Affiliate thereofperson directly or indirectly controlling, controlled by, or under common control with such obligor shall serve as Trustee. 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 SixArticle.
Appears in 1 contract
Samples: Indenture (Energen Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State (or District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a) (1), 310(a) (2) and 310(a) (5) of the Trust Indenture Act.
Appears in 1 contract
Samples: Indenture (Cooper Cameron Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation that is eligible pursuant to the Trust Indenture Act to act as such and organized and doing business under the laws of the United States of AmericaStates, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall ---------------------------------------- at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of ColumbiaStates, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $25,000,000, subject to supervision or examination by Federal federal or State state authority, in good standing and having an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 1 contract
Samples: Indenture (Xerox Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee one or more Trustee(s) hereunder which at least one of whom shall be at all times a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes of this SectionSection 6.9, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee for the Securities 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 SixArticle. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Company shall serve as trustee for the Securities of any series issued hereunder.
Appears in 1 contract
Samples: Indenture (Texas Petrochemicals Lp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which with respect to each series of Securities that shall be a corporation organized and doing business under the laws of the United States of America, America or of any State or Territory thereof or of the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities 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 SixArticle.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 609, 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. The Trustee shall not be an No obligor upon the Securities or an Affiliate thereofof such obligor shall serve as Trustee upon the Securities. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixArticle.
Appears in 1 contract
Samples: Indenture (Arvin Industries Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation commercial bank or trust company organized and doing business under the laws of the United States of America, America or of any State thereof or the District of Columbiastate thereof, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, subject to supervision or examination by Federal federal or state authority, having a principal corporate trust office located in the State authorityof Nebraska. The Trustee must have a combined capital and surplus of at least $25,000,000, or must provide a guaranty of the full and prompt performance by the Trustee of its obligations under this Indenture and any other agreements made in connection with the Bonds, on terms satisfactory to the Issuer, by a guarantor with such combined capital and surplus. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said such 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 1 contract
Samples: Loan Agreement
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which that shall be a corporation or bank organized and doing business under the laws of the United States or of America, any State thereof or the District of Columbiathereof, authorized under such laws to exercise corporate trust powers, having (or whose obligations are unconditionally guaranteed by a corporation or bank having) a combined capital and surplus required by the Trust Indenture Actof at least $150,000,000, and subject to supervision or examination by Federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes of this SectionSection 10.9, the combined capital and surplus of such corporation or bank shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 10.9, it shall resign immediately in the manner and with the effect hereinafter specified in this Article Six.X.
Appears in 1 contract
Samples: Trust Indenture (Aes Red Oak LLC)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon Company may not, nor may any person directly or indirectly controlling, controlled by, or under common control with the Securities or an Affiliate thereofCompany, serve as Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately promptly in the manner and with the effect hereinafter specified in this Article SixArticle.
Appears in 1 contract
Samples: Indenture (Utilicorp United Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized Person that is eligible pursuant to the Trust Indenture Act (as if such Act were applicable to this Indenture) to act as such and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having has a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal federal or State state authority. If such corporation Person publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection and to the extent permitted by the Trust Indenture Act (as if such Act were applicable to this Indenture), the combined capital and surplus of such corporation Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall serve as Trustee for the Debentures issued hereunder.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a bank, corporation or trust company organized and doing business under the laws of the United States or of America, any State thereof or the District of Columbiathereof, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least U.S.$100,000,000, subject to supervision or examination by federal or state banking authorities, and insured by the Federal or State authorityDeposit Insurance Corporation, an entity with respect to which Rating Confirmation has been received. If such corporation entity publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes of this SectionSection 6.9, the combined capital and surplus of such corporation entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.9, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixSection 6.
Appears in 1 contract
Samples: Indenture (Northstar Realty)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having a combined capital and surplus required by the Trust Indenture Actof at least U.S.$25,000,000, subject to supervision or examination by Federal or State authority, in good standing and having an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 1 contract
Samples: Indenture (I2 Technologies Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of Columbiastate, authorized under such laws to exercise corporate trust powers, authorized to accept and exercise the trusts herein provided, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes of this SectionSection 8.2, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle, and shall immediately provide Notice by Mail of such resignation to the Issuer, the Company, the Credit Bank and the holder of each Bond.
Appears in 1 contract
Samples: Indenture of Trust (Enron Corp/Or/)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder hereunder, which shall be a corporation that is eligible pursuant to the Trust Indenture Act to act as such and organized and doing business under the laws of the United States of AmericaStates, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $5,000,000, and subject to supervision or examination by Federal federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
Appears in 1 contract
Samples: Indenture (Land O Lakes Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authorityauthority and qualified and eligible under this Article. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said such 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Company may serve as Trustee hereunder.
Appears in 1 contract
Samples: Indenture (Atmos Energy Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or being part of a holding company group with) a combined capital and surplus required by the Trust Indenture Actof at least U.S. $50,000,000, subject to supervision or examination by Federal federal or State state authority, and in good standing. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.09.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authorityauthority and, to the extent there is such an institution eligible and willing to serve, having an office or agency in the City of New York. If such corporation publishes reports of condition at least annually, annually pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. This Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), (2) and (5) of the Trust Indenture Act.
Appears in 1 contract
Samples: Contingent Value Rights Agreement (Atkins Nutritionals Holdings, Inc.)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State state thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus as required by the Trust Indenture Act, subject to supervision or examination by Federal federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 609, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article SixArticle.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation corporation, bank or banking association organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State (or District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50,000,000 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an No obligor upon on the Securities or an Affiliate thereofof such obligor shall serve as Trustee. 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 SixArticle.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States or of America, any State thereof state of the United States or the District of Columbia, Columbia which is authorized under such laws to exercise corporate trust powers, having a combined capital powers and surplus required by the Trust Indenture Act, is subject to supervision or examination by Federal federal or State state authority. Such Trustee shall have a combined capital and surplus of at least $50,000,000. If such corporation Person publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Company shall serve as Trustee shall not be an obligor upon the Securities or an Affiliate thereofhereunder. 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 SixArticle.
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Corporate Trustee Required; Eligibility. There The Pass --------------------------------------- Through Trustee shall at all times be a Trustee hereunder which shall times: (a) be a corporation organized and doing business under satisfying the laws provisions of Section 3807(a) of the United States of America, any State thereof or the District of Columbia, Business Trust Statute; (b) be authorized under such laws to exercise corporate trust powers, ; (c) having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal U.S. federal or State state authority; and (d) be a United States Person. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Pass Through 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 SixArticle.
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Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. SECTION 610.
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Samples: Indenture (Anadarko Petroleum Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authorityauthority and, to the extent there is such an institution eligible and willing to serve, having an office or agency in The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
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Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having a combined capital and surplus required by the Trust Indenture Actof at least U.S.$500,000,000, subject to supervision or examination by Federal or State authority, in good standing and having an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Six.and a successor shall be appointed pursuant to Section 6.9. ------------
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Samples: Indenture (Medarex Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or if the Trustee is a member of a bank holding company, its bank holding company having) a combined capital and surplus required by the Trust Indenture Actof at least U.S.$50,000,000, subject to supervision or examination by Federal or State state authority, in good standing. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
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Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having a combined capital and surplus required by the Trust Indenture Actof at least U.S.$50,000,000, subject to supervision or examination by Federal federal or State state authority, in good standing and having an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 1 contract
Samples: Indenture (Baan Co N V)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $250,000,000, subject to supervision or examination by Federal or State authorityauthority and, to the extent there is such an institution eligible and willing to serve, having an office or agency in The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle.
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Samples: Contingent Value Interests Agreement (KKR & Co. L.P.)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having a combined capital and surplus required by the Trust Indenture Actof at least U.S.$250,000,000, subject to supervision or examination by Federal or State authority, in good standing and having an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Six.and a successor shall be appointed pursuant to Section 6.9. -----------
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Samples: Indenture (Medarex Inc)
Corporate Trustee Required; Eligibility. There Each Trust shall --------------------------------------- at all times be have a Trustee hereunder which shall be eligible to act as a Trustee under Section 310(a) of the Trust Indenture Act and which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of Columbiastate, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $100,000,000, and subject to supervision or examination by Federal federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this SectionSection to act as Trustee of any Trust, it the Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article SixSection 7.09.
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Samples: Pass Through Trust Agreement (General American Railcar Corp Ii)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which that shall be a corporation an entity organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authority. If such corporation entity publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee shall not be an obligor upon Issuer may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Securities or an Affiliate thereofIssuer, serve as Trustee. 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 SixArticle.
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Samples: Indenture (Matrix Bancorp Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having (or being part of a holding company group with) a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal federal or State state authority, and in good standing. The Trustee or an Affiliate of the Trustee shall maintain an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
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Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation or association organized and doing business under the laws of the United States of America, America or of any State thereof or the District of Columbiastate, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, subject to supervision or examination by Federal or State authoritystate authority and having an office within the United States of America. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon affiliated with the Securities Company and shall not provide credit or an Affiliate thereofcredit enhancement to the Company. 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 SixArticle.
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Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation corporation, bank or banking association organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $50 million and subject to supervision or examination by Federal or State (or the District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this SectionSection 609, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. The Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.
Appears in 1 contract
Samples: Indenture (Pilgrims Pride Corp)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Act, of at least $10,000,000 and subject to supervision or examination by Federal Federal, State or State District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 SixArticle. Neither the Company, nor any person directly or indirectly controlling, controlled by, or under common control with the Company shall serve as Trustee.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under Person that is eligible pursuant to the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws Trust Indenture Act to exercise corporate trust powersact as such, having a combined capital and surplus required by the Trust Indenture Actof at least U.S. $250,000,000, subject to supervision or examination by Federal or State authority, in good standing and having an established place of business in the Borough of Manhattan, The City of New York. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 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 Sixand a successor shall be appointed pursuant to Section 6.9.
Appears in 1 contract
Samples: Indenture (Medarex Inc)
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder which with respect to each series of Securities that shall be a corporation organized and doing business under the laws of the United States of America, America or of any State or Territory thereof or of the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal federal or State state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid supervising or examining authority, then for the purposes of this Sectionsection, 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities shall cease to be eligible in accordance with the provisions of this Sectionsection, it shall resign immediately in the manner and with the effect hereinafter specified in this Article Sixarticle.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $5,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee with respect to any series of Securities 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 SixArticle. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder.
Appears in 1 contract
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America, America or of any State thereof or the District of ColumbiaState, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus required by the Trust Indenture Actof at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said the aforesaid 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. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. 59 51 If at any time the Trustee with respect to any series of Securities 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 SixArticle.
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