Common use of Disqualification; Conflicting Interests Clause in Contracts

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided herein.

Appears in 11 contracts

Samples: Indenture (Berkshire Hathaway Energy Co), Indenture (Southwest Gas Corp), Indenture (Midamerican Energy Holdings Co /New/)

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Disqualification; Conflicting Interests. If the Trustee has or shall acquire a any conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and Indenture. To the Company extent permitted by such Act, the Trustee shall take prompt action not be deemed to have a successor Trustee appointed in the manner provided hereinconflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series.

Appears in 10 contracts

Samples: Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinAgreement.

Appears in 3 contracts

Samples: Trust Agreement (Doral Financial Corp), Doral Properties Inc, Doral Properties Inc

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture and Act, the Company Trustee shall take prompt action not be deemed to have a successor Trustee appointed in the manner provided hereinconflicting interest by virtue of being a trustee under this Indenture with respect to Senior Notes of more than one series.

Appears in 2 contracts

Samples: Senior Note Indenture (Agco Corp /De), Senior Note Indenture (AGCO International GmbH)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resignresign as Trustee hereunder, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 2 contracts

Samples: Indenture Agreement (Protein Design Labs Inc/De), Asm International N V

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, Section 310(b) the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 2 contracts

Samples: Expenses and Liabilities (Amerus Capital I), Indenture (Vib Corp)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and provided, however, nothing shall prohibit or disqualify an employee of the Company shall take prompt action to have a successor from acting as Trustee appointed in solely because that Person is employed by the manner provided hereinCompany.

Appears in 1 contract

Samples: Suiza Foods Corp

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in NY12534: 53599.4 the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Indenture (Staples Inc)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided herein.the

Appears in 1 contract

Samples: Hussmann International Inc

Disqualification; Conflicting Interests. If the Trustee has or shall acquire acquires a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall will either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and Sections 11.09 and 11.10 of this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Indenture (MFN Financial Corp)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire acquires a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall will either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and Sections 10.09 and 10.10 of this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: MFN Financial Corp

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such conflicting interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture Indenture. The Trust Agreement and the Company Parent Guarantee shall take prompt action be deemed to have a successor Trustee appointed be specifically described in this Indenture for the manner provided hereinpurposes of clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture Act.

Appears in 1 contract

Samples: Cleveland Electric Financing Trust I

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent within the time period, and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Indenture (Gentiva Health Services Inc)

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Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act of and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Jetblue Airways Corp

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, by the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Purchase Agreement (Zenith National Insurance Corp)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture and Act, the Company Trustee shall take prompt action not be deemed to have a successor Trustee appointed in the manner provided hereinconflicting interest by virtue of being a trustee under this Indenture with respect to Subordinated Notes of more than one series.

Appears in 1 contract

Samples: Subordinated Note Indenture (AGCO International GmbH)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a any conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such conflicting interest or resign, to the extent and resign in the manner provided by, and subject to the provisions of, of the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Indenture (Bnccorp Inc)

Disqualification; Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and Indenture. Nothing herein shall prohibit the Company shall take prompt action to have a successor Trustee appointed from filing the application described in the manner provided hereinpenultimate paragraph of Section 310(b) of the Trust Indenture Act as the same is in effect on the date of this instrument, or any successor provision or any other application seeking similar relief.

Appears in 1 contract

Samples: Electric Lightwave Inc

Disqualification; Conflicting Interests. If the Indenture Trustee has shall have or shall acquire a any conflicting interest within the meaning of the Trust Indenture Act, the Trustee it shall either eliminate such conflicting interest or resign, resign to the extent and extent, in the manner provided byand with the effect, and subject to the provisions ofconditions, provided in the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Participation Agreement (United Illuminating Co)

Disqualification; Conflicting Interests. If this Indenture is qualified under the Trust Indenture Act and if the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided hereinIndenture.

Appears in 1 contract

Samples: Indenture (Olympic Financial LTD)

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