Covenants of Trustee Sample Clauses

Covenants of Trustee. The Trustee hereby covenants and agrees as follows: (a) Except as otherwise provided in the ESOP, all cash contributions (including any earnings on such contributions) that are received by the Trust and cash dividends (including any earnings on such dividends) that are received by the Trust with respect to the Class 1 ESOP Convertible Preferred Stock or Common Stock issued upon conversion thereof will be, to the extent permitted by law, applied solely for the purpose of making principal and interest payments on the ESOP Note. (b) The Trustee shall not transfer or otherwise dispose of any shares of Common Stock issued upon conversion of the Class 1 ESOP Convertible Preferred Stock unless such securities have been registered under the Securities Act of 1933, as amended, and any applicable state securities laws or pursuant to an exemption or exemptions from such registration. (c) The Trustee agrees that UAL may (with the consent of the Air Line Pilots Association, International and the International Association of Machinists and Aerospace Workers if and to the extent such consent is required by the Plan) extend the maturity of the ESOP Note for up to four (4) years, provided that the interest rate on the ESOP Note, as extended, is determined by the Trustee to be reasonable at the time of extension.
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Covenants of Trustee. The Trustee covenants and agrees with the Board as follows: 3.01. The Trustee will reinvest all available uninvested balances (rounded to an even $1) in the Escrow Account on deposit from time to time, whenever said balances exceed $1,000. Such investments shall be made in SLGS at an interest rate of 0%. In addition, the Trustee may reinvest such uninvested balances in direct noncallable obligations of or direct, noncallable, nonprepayable obligations guaranteed by the full faith and credit of the United States of America only in the event it first receives an opinion of nationally recognized bond counsel stating that such reinvestment will not cause the interest on the Certificates to be includable in gross income of the owners thereof for federal income tax purposes. All such reinvestments shall be scheduled to mature on or prior to the next succeeding interest payment date on the Prior Certificates on which such proceeds will be needed to pay the principal of or interest on the Prior Certificates. The Trustee shall hold the Government Obligations and all interest, income and profit derived therefrom and all uninvested cash in a segregated and separate trust fund account for the sole and exclusive benefit of the holders and registered owners of the Prior Certificates. 3.02. The Trustee shall hold all balances not invested or reinvested as hereinabove described and on deposit in the Escrow Account on demand and in trust for the purposes hereof. 3.03. The Trustee shall take no action in the investment or securing of the proceeds of the Government Obligations which would cause the Prior Certificates or the 2014C Certificates to be classified as “arbitrage bonds” under applicable sections of the Internal Revenue Code of 1986 and all lawful regulations promulgated thereunder; provided that it shall be under no duty to affirmatively inquire whether the Government Obligations as initially or subsequently deposited are properly invested under said sections and regulations; and provided, further, that it may rely conclusively on all specific directions in this Agreement in the investment or reinvestment of balances held hereunder. 3.04. The Trustee shall promptly collect the principal of, interest on and income and profit from the Government Obligations and promptly apply the same solely and only to pay when due all Payment Requirements. 3.05. The Trustee shall remit to the paying agent for the Prior Certificates as herein provided and for the benefit of the Prio...
Covenants of Trustee. Trustee shall comply with the provisions of the Indenture, including, but not limited to, notice provisions required therein.
Covenants of Trustee. Trustee, in its individual capacity, covenants with each of the other parties hereto as follows, it being understood that the sole remedies for the breach of these covenants shall be to sue for damages or for specific performance and that any such breach shall not modify or terminate Lessee's obligations under this Lease or any other Operative Document: (a) So long as this Lease remains in effect or so long as the obligations of Lessee arising hereunder have not been fully and finally discharged, Trustee, whether in its individual capacity or as Trustee, will not create, incur, assume or suffer to exist any Liens attributed to Trustee, in its individual capacity and/or as Trustee, and shall indemnify, reimburse and hold each Certificate Purchaser and Lessee harmless from any and all claims, losses, damages, obligations, penalties, liabilities, demands, suits, or causes of action and all legal proceedings, and any costs or expenses in connection therewith, including reasonable legal fees and expenses, of whatever kind and nature, imposed on, incurred by or asserted against any Certificate Purchaser or Lessee in any way relating to, or arising in any manner out of, failure by Trustee in its individual capacity or as Trustee to comply with this SECTION 13.3(a); (b) Trustee shall apply funds held by it in its capacity as Trustee hereunder as required by this Lease and the Trust Agreement; (c) Trustee may resign or be removed by the Certificate Purchasers as Trustee, a successor Trustee may be appointed, and a corporation may become Trustee under the Trust Agreement, only in accordance with the provisions of Section 4.10 of the Trust Agreement. Notwithstanding anything to the contrary contained in this Lease or the Trust Agreement, so long as no Event of Default shall be continuing, the appointment of a successor Trustee shall be subject to the consent of Xxxxxx (such consent not to be unreasonably withheld); and (d) Trustee on behalf of the Trust shall not contract for, create, incur or assume any indebtedness, or enter into any business or other activity, OTHER THAN pursuant to or under the Operative Documents and, for the benefit of Lessee and the Certificate Purchasers, agrees to be bound by Section 4.2 of the Trust Agreement.
Covenants of Trustee. 1. Trustee will not do any act or thing which would or might in any way adversely affect the rights of MNLD hereunder. 2. Trustee will assist MNLD in making all necessary filings and payments required to be made by MNLD pursuant to section 3 of this Agreement, including filings required to be made on or through the BC Mineral Titles Online website. 3. Trustee will transfer registered ownership of the Claim to MNLD or its authorized agent immediately on request made by MNLD, provided that MNLD will pay all transfer fees. 4. Trustee will promptly provide MNLD with any and all notices and correspondence from government or regulatory agencies in respect of the Claim.
Covenants of Trustee. 1. Trustee will not do any act or thing which would or might in any way adversely affect the rights of Chancery hereunder. 2. Trustee will assist Chancery in making all necessary filings and payments required to be made by Chancery pursuant to section 3 of this Agreement, including filings required to be made on or through the BC Mineral Titles Online website. 3. Trustee will transfer registered ownership of the Claims to Chancery or its authorized agent immediately on request made by Chancery, provided that Chancery will pay all transfer fees. 4. Trustee will promptly provide Chancery with any and all notices and correspondence from government or regulatory agencies in respect of the Claims.
Covenants of Trustee. 4.1 Trustee will not do any act or thing which would or might in any way adversely affect the rights of Beneficiary hereunder.
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Covenants of Trustee. (a) The Trustee shall, upon receipt by the Trustee of any notice of any Determination of Taxability with respect to the 1999C Bonds or the 1999D Bonds, give notice to FWC of such Determination of Taxability, and FWC shall have the right to contest any such Determination of Taxability, each in accordance with the terms of the Second Amended Indenture. (b) The Trustee shall not amend or consent to any amendment to the following Sections of the Second Amended Indenture without the express prior written consent of FWC: (i) the definition of “Determination of Taxability” in Section 1.01 thereof; (ii) the definition of “Litigation Event” in Section 1.01 thereof; (iii) the definition of “Litigation Proceeds” in Section 1.01 thereof; (iv) Section 4.08 thereof to the extent it relates to the 1999C and D Bonds;
Covenants of Trustee. 4.1 Trustee will not do any act or thing which would or might in any way adversely affect the rights of Dynamic or Dynamic Gravel hereunder.
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