Common use of Delaware Trustee May Own Notes Clause in Contracts

Delaware Trustee May Own Notes. Except to the extent prohibited under the terms of the Series of Notes, the Delaware Trustee, in its individual or any other capacity, may become the beneficial owner or pledgee of Notes, to the extent that such ownership does not inhibit the Trust from relying on Rule 3a-7 promulgated under the Investment Company Act, with the same rights as it would have if it were not the Delaware Trustee; provided, that any Notes so owned or pledged shall not be entitled to participate in any decisions made or instructions given to the Delaware Trustee or the Indenture Trustee by the Holders as a group. The Delaware Trustee may deal with the Trust and the Trust Beneficial Owner in banking and trustee transactions with the same rights as it would have if it were not the Delaware Trustee. ARTICLE 9

Appears in 8 contracts

Samples: License Agreement (Protective Life Insurance Co), License Agreement (Protective Life Insurance Co), License Agreement (Protective Life Insurance Co)

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Delaware Trustee May Own Notes. Except to the extent prohibited under the terms of the Series of Notes, the Delaware Trustee, in its individual or any other capacity, may become the beneficial owner or pledgee of Notes, to the extent that such ownership does not inhibit the Trust from relying on Rule 3a-7 promulgated under the Investment Company Act, with the same rights as it would have if it were not the Delaware Trustee; providedPROVIDED, that THAT any Notes so owned or pledged shall not be entitled to participate in any decisions made or instructions given to the Delaware Trustee or the Indenture Trustee by the Holders as a group. The Delaware Trustee may deal with the Trust and the Trust Beneficial Owner in banking and trustee transactions with the same rights as it would have if it were not the Delaware Trustee. ARTICLE 9.

Appears in 4 contracts

Samples: Trust Agreement (Hartford Life Insurance Co), Trust Agreement (Hartford Life Insurance Co), Trust Agreement (Hartford Life Insurance Co)

Delaware Trustee May Own Notes. Except to the extent prohibited under the terms of the Series of Notes, the Delaware Trustee, in its individual or any other capacity, may become the beneficial owner or pledgee of Notes, to the extent that such ownership does not inhibit the Trust from relying on Rule 3a-7 promulgated the applicable exemption from registration as an "investment company" under the Investment Company Act, with the same rights as it would have if it were not the Delaware Trustee; provided, that any Notes so owned or pledged shall not be entitled to participate in any decisions made or instructions given to the Delaware Trustee or the Indenture Trustee by the Holders as a group. The Except as otherwise provided in this Section 8.6, the Delaware Trustee may deal with the Trust and the Trust Beneficial Owner in banking and trustee transactions with the same rights as it would have if it were not the Delaware Trustee. ARTICLE 9.

Appears in 2 contracts

Samples: Allstate Life Global Funding, Allstate Life Global Funding

Delaware Trustee May Own Notes. Except to the extent prohibited under the terms of the Series of Notes, the Delaware Trustee, in its individual or any other capacity, may become the beneficial owner or pledgee of Notes, to the extent that such ownership does not inhibit the Trust from relying on Rule 3a-7 promulgated the applicable exemption from registration as an "investment company" under the Investment Company Act, with the same rights as it would have if it were not the Delaware Trustee; providedPROVIDED, that THAT any Notes so owned or pledged shall not be entitled to participate in any decisions made or instructions given to the Delaware Trustee or the Indenture Trustee by the Holders as a group. The Except as provided in this Section 8.6, the Delaware Trustee may deal with the Trust and the Trust Beneficial Owner in banking and trustee transactions with the same rights as it would have if it were not the Delaware Trustee. ARTICLE 9.

Appears in 2 contracts

Samples: Allstate Life Global Funding, Allstate Life Insurance Co

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Delaware Trustee May Own Notes. Except to the extent prohibited under the terms of the any Series of Notes, the Delaware Trustee, in its individual or any other capacity, may become the beneficial owner or pledgee of Notes, to the extent that such ownership does not inhibit the Trust from relying on Rule 3a-7 promulgated under the Investment Company Act, with the same rights as it would have if it were not the Delaware Trustee; provided, that any Notes so owned or pledged shall not be entitled to participate in any decisions made or instructions given to the Delaware Trustee or the Indenture Trustee by the Holders as a group. The Delaware Trustee may deal with the Trust and the Trust Series Beneficial Owner in banking and trustee transactions with the same rights as it would have if it were not the Delaware Trustee. ARTICLE 910

Appears in 1 contract

Samples: Trust Series Agreement (Protective Life Secured)

Delaware Trustee May Own Notes. Except to the extent prohibited under the terms of the Series of Notes, the Delaware Trustee, in its individual or any other capacity, may become the beneficial owner or pledgee of Notes, to the extent that such ownership does not inhibit the Trust from relying on Rule 3a-7 promulgated under the Investment Company Act, with the same rights as it would have if it were not the Delaware Trustee; provided, that any Notes so owned or pledged shall not be entitled to participate in any decisions made or instructions given to the Delaware Trustee or the Indenture Trustee by the Holders as a group. The Delaware Trustee may deal with the Trust and the Trust Beneficial Owner in banking and trustee transactions with the same rights as it would have if it were not the Delaware Trustee. ARTICLE 9.

Appears in 1 contract

Samples: License Agreement (Protective Life Secured Trust 2003-1)

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