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Common use of Duties and Responsibilities of the Trustee; During Default; Prior to Default Clause in Contracts

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 13 contracts

Samples: Indenture (Warner Bros. Discovery, Inc.), Indenture (Discovery Communications, LLC), Indenture (Discovery Communications, LLC)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own grossly negligent action, its own grossly negligent failure to act or its own willful misconduct.

Appears in 4 contracts

Samples: Indenture (Intercept Pharmaceuticals, Inc.), Subscription Agreement (Intercept Pharmaceuticals, Inc.), Exchange Agreement (Intercept Pharmaceuticals, Inc.)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and as set forth herein. Whether or not expressly so provided, every provision of the Indenture relating to the Holders conduct or affecting the liability of any series of Securities issued hereunder, the Trustee, prior or affording protection to the occurrence Trustee is subject to this Article. (b) Except during the continuance of an Event of Default with respect to Default, the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to Trustee need perform such only those duties and only such duties as that are specifically set forth in this Indenturethe Indenture and no others, and no implied covenants or obligations will be read into the Indenture against the Trustee. In case an Event of Default with respect to of which a Responsible Officer shall have actual knowledge or shall have received written notice from the Issuer or any Holder of Securities of a any series has occurred (which has not been cured or waived)and is continuing, the Trustee shall exercise such of the those rights and powers vested in it by this the Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her such person’s own affairs. No . (c) Except as otherwise provided in the Trust Indenture Act, no provision of this the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 4 contracts

Samples: Indenture (Everett SpinCo, Inc.), Indenture (NBCUniversal Media, LLC), Indenture (Comcast Corp)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and as set forth herein. Whether or not expressly so provided, every provision of the Indenture relating to the Holders conduct or affecting the liability of any series of Securities issued hereunder, the Trustee, prior or affording protection to the occurrence Trustee is subject to this Article. (b) Except during the continuance of an Event of Default with respect to Default, the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to Trustee need perform such only those duties and only such duties as that are specifically set forth in this Indenturethe Indenture and no others, and no implied covenants or obligations will be read into the Indenture against the Trustee. In case an Event of Default with respect to of which a Responsible Officer shall have actual knowledge or shall have received written notice from the Issuer or any holder of Securities of a any series has occurred (which has not been cured or waived)and is continuing, the Trustee shall exercise such of the those rights and powers vested in it by this the Indenture, and use the same degree of care and skill in their exercise, as a prudent person man would exercise or use under the circumstances in the conduct of his or her own affairs. . (c) No provision of this the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 3 contracts

Samples: Indenture (Roper Technologies Inc), Indenture (Roper Industries Inc), Indenture (Roper Industries Inc)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and as set forth herein. Whether or not expressly so provided, every provision of the Indenture relating to the Holders conduct or affecting the liability of any series of Securities issued hereunder, the Trustee, prior or affording protection to the occurrence Trustee is subject to this Article. (b) Except during the continuance of an Event of Default with respect to Default, the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to Trustee need perform such only those duties and only such duties as that are specifically set forth in this Indenturethe Indenture and no others, and no implied covenants or obligations will be read into the Indenture against the Trustee. In case an Event of Default with respect to of which a Responsible Officer shall have actual knowledge or shall have received written notice from the Issuer or any Holder of Securities of a any series stating that an Event of Default has occurred (which has not been cured or waived)and is continuing, the Trustee shall exercise such of the those rights and powers vested in it by this the Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her such person’s own affairs. . (c) No provision of this the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 3 contracts

Samples: Indenture (Workday, Inc.), Indenture (Illumina, Inc.), Indenture (Intuit Inc)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), ) the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person man would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful wilful misconduct., except that

Appears in 3 contracts

Samples: Indenture (Progressive Corp/Oh/), Subordinated Indenture (Conagra Foods Inc /De/), Indenture (Progressive Corp/Oh/)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and as set forth herein. Whether or not expressly so provided, every provision of the Indenture relating to the Holders conduct or affecting the liability of any series of Securities issued hereunder, the Trustee, prior or affording protection to the occurrence Trustee is subject to this Article. (b) Except during the continuance of an Event of Default with respect to Default, the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to Trustee need perform such only those duties and only such duties as that are specifically set forth in this Indenturethe Indenture and no others, and no implied covenants or obligations will be read into the Indenture against the Trustee. In case an Event of Default with respect to of which a Responsible Officer shall have actual knowledge or shall have received written notice from the Company or any holder of Securities of a any series has occurred (which has not been cured or waived)and is continuing, the Trustee shall exercise such of the those rights and powers vested in it by this the Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. . (c) No provision of this the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 2 contracts

Samples: Indenture (Palo Alto Networks Inc), Indenture (Palo Alto Networks Inc)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities Notes issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities Notes of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities Notes of a series has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her their own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 2 contracts

Samples: Indenture (Warner Bros. Discovery, Inc.), Indenture (Magallanes, Inc.)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this IndentureIndenture and no implied covenants or obligations shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct. None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers if there shall be reasonable ground for believing that the repayment of such funds or adequate indemnity against such liability is not reasonably assured to it.

Appears in 2 contracts

Samples: Indenture (Idex Corp /De/), Indenture (Idex Corp /De/)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person man would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct., except that

Appears in 1 contract

Samples: Indenture (General Mills Inc)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which and has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 1 contract

Samples: Indenture (Par Technology Corp)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such seriesoccurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), ) the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person man would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful wilful misconduct., except that (a) prior to the occurrence of an Event of Default and after the curing or waiving of all such Events of Default which may have occurred: (i) the duties and obligations of the Trustee with respect to Securities shall be determined solely by the express provisions of this

Appears in 1 contract

Samples: Convertible Subordinated Indenture (Chancellor Media Corp/)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular that series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), ) the Trustee as to that series shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person man would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct., except that

Appears in 1 contract

Samples: Indenture (Sheraton Holding Corp)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and as set forth herein. Whether or not expressly so provided, every provision of the Indenture relating to the Holders conduct or affecting the liability of any series of Securities issued hereunder, the Trustee, prior or affording protection to the occurrence Trustee is subject to this Article. (a) Except during the continuance of an Event of Default with respect to Default, the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to Trustee need perform such only those duties and only such duties as that are specifically set forth in this Indenturethe Indenture and no others, and no implied covenants or obligations will be read into the Indenture against the Trustee. In case an Event of Default with respect to of which a Responsible Officer shall have actual knowledge or shall have received written notice from the Issuer or any Holder of Securities of a any series has occurred (which has not been cured or waived)and is continuing, the Trustee shall exercise such of the those rights and powers vested in it by this the Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her such person’s own affairs. . (b) No provision of this the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 1 contract

Samples: Indenture (Adobe Systems Inc)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and as set forth herein. Whether or not expressly so provided, every provision of the Indenture relating to the Holders conduct or affecting the liability of any series of Securities issued hereunder, the Trustee, prior or affording protection to the occurrence Trustee is subject to this Article. (b) Except during the continuance of an Event of Default with respect to Default, the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to Trustee need perform such only those duties and only such duties as that are specifically set forth in this Indenturethe Indenture and no others, and no implied covenants or obligations will be read into the Indenture against the Trustee. In case an Event of Default with respect to of which a Responsible Officer shall have actual knowledge or shall have received written notice from the Issuer or any Holder of Securities of a any series has occurred (which has not been cured or waived)and is continuing, the Trustee shall exercise such of the those rights and powers vested in it by this the Indenture, and use the same degree of care and skill in their exercise, as a prudent person man would exercise or use under the circumstances in the conduct of his or her own affairs. . (c) No provision of this the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 1 contract

Samples: Indenture (Adobe Systems Inc)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities Notes issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities Notes of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this IndentureIndenture and no implied covenants or obligations shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities Notes of a series has occurred (which has not been cured or waived)) and is actually known by a Responsible Officer of the Trustee, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her their own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct.

Appears in 1 contract

Samples: Indenture (Regal Rexnord Corp)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), ) the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful wilful misconduct., except that: (a) prior to the occurrence of an Event of Default with respect to the Securities of any series and after the curing or waiving of all such Events of Default with respect to such series which may have occurred:

Appears in 1 contract

Samples: Indenture (Crane Co /De/)

Duties and Responsibilities of the Trustee; During Default; Prior to Default. (a) . With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular such series and after the curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), ) the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her their own affairs. No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct., except that

Appears in 1 contract

Samples: Indenture (Air Products & Chemicals Inc /De/)