Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 3 contracts
Samples: Indenture of Mortgage (PG&E Corp), Indenture of Mortgage (PG&E Corp), Indenture of Mortgage (PG&E Corp)
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 3 contracts
Samples: First Mortgage Indenture (Allegheny Energy, Inc), General and Refunding Mortgage Indenture (Nevada Power Co), General and Refunding Mortgage Indenture (Nevada Power Co)
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon upon, and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property Property, and in that connection shall have access to the relevant books and accounts of the Company, and may make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee Trustee, subject to the rights, if any, of others to receive collections from former, present or future customers, may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17cured, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 2 contracts
Samples: Open End Mortgage, General Mortgage Indenture and Deed of Trust (Vistra Corp.), Open End Mortgage, General Mortgage Indenture and Deed of Trust (Vistra Corp.)
Entry Upon Mortgaged Property. If Prior to the Release Date, if an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 2 contracts
Samples: Indenture of Mortgage (Pg&e Corp), Security Agreement and Mortgage (Pacific Gas & Electric Co)
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive receive, subject to the rights of others, if any, with respect thereto, the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.079.06. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17cured, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 2 contracts
Samples: First Mortgage (Duke Energy Ohio, Inc.), First Mortgage (Duke Energy Ohio, Inc.)
Entry Upon Mortgaged Property. If In addition to those provisions contemplated by Article Eight, if an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07806. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17cured, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 2 contracts
Samples: Indenture (Arkansas Power & Light Co), Indenture (Louisiana Power & Light Co /La/)
Entry Upon Mortgaged Property. (a) If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (Trustee, whether acting at on its own or upon the written direction by of the Holders of at least a majority in aggregate principal amount of all of the Bonds Securities then Outstanding) Outstanding of all series, and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem deem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged PropertyProperty (including the compensation and expenses of a receiver), as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07807. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17817, the Trustee shall surrender possession of the Mortgaged Property to the Company.
(b) For the purposes of the first clause of Section 803(a), the Holders of a majority in principal amount of Securities then Outstanding of a particular series affected by an Event of Default may seek the requisite direction of the Holders of a majority in principal amount of all of the Securities then Outstanding of all series, and, solely for that purpose (i.e., to determine the identities of the other Holders), the Holders of such particular series of Outstanding Securities seeking such direction shall have access to the Security Register.
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Entry Upon Mortgaged Property. If Upon the occurrence of an Event of Default shall have occurred and be continuingDefault, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by lawTrustee, shall forthwith surrender to the Trustee the actual possession of, and it shall be lawful for the Trustee, by such officers officer or agents agent as it may appoint, may enter upon and to take possession of, of all the Mortgaged Property; Property (with the books, papers and accounts of the Trustee (or its nomineeCompany) may and to hold, operate and manage the Mortgaged Property same, and from time to time make all needful repairs and such renewalsextensions, replacements, betterments additions and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) it shall seem prudentwise; and the Trustee may to receive the rents, issuesrevenues, profitsincome, revenues issues and other income profits thereof, and out of the Mortgaged Propertysame to pay, to and/or set up proper reserves for the extentpayment of, if any, that the same shall not then constitute Excepted Property; and, after deducting the all proper costs and expenses of enteringso taking, taking possession, holding, operating holding and managing the Mortgaged Propertysame, as well as payments for insurance including reasonable compensation to the Trustee, its agents and counsel, and any charges of the Trustee hereunder, and any taxes and assessments and other proper charges upon the Mortgaged Property prior to the lien of this Indenture and reasonable compensation to itself, its agents and counsel, which the Trustee may deem it wise to pay, and all expenses of such repairs, extensions, additions and improvements, and to apply the same remainder of the moneys so received by the Trustee, subject to the provisions of Section 8.14 hereof with respect to extended, transferred or pledged claims for interest, first to the payment of the installments of interest which are due and unpaid, in the order of their maturity, and next, if the principal of any said Bonds is due, to the payment of the principal and accrued interest thereon pro rata without any preference or priority whatever, except as provided in Section 10.07aforesaid and thereafter the Make Whole Amount. Whenever all that is then due in respect upon such Bonds, including installments of the principal of and premium, if any, and interest, if any, on the Bonds interest and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17Defaults made good, the Trustee shall surrender possession of the Mortgaged Property to the Company, its successors or assigns; the same right of entry, however, to exist upon any subsequent Event of Default.
Appears in 1 contract
Entry Upon Mortgaged Property. If Upon the occurrence of an Event of Default shall have occurred and be continuingDefault, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by lawTrustee, shall forthwith surrender to the Trustee the actual possession of, and it shall be lawful for the Trustee, by such officers officer or agents agent as it may appoint, may enter upon and to take possession of, of all the Mortgaged Property; Property (with the books, papers and accounts of the Trustee (or its nomineeCompany) may and to hold, operate and manage the Mortgaged Property same, and from time to time make all needful repairs and such renewalsextensions, replacements, betterments additions and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) it shall seem prudentwise; and the Trustee may to receive the rents, issuesrevenues, profitsincome, revenues issues and other income profits thereof, and out of the Mortgaged Propertysame to pay, to and/or set up proper reserves for the extentpayment of, if any, that the same shall not then constitute Excepted Property; and, after deducting the all proper costs and expenses of enteringso taking, taking possession, holding, operating holding and managing the Mortgaged Propertysame, as well as payments for insurance including reasonable compensation to the Trustee, its agents and counsel, and any charges of the Trustee hereunder, and any taxes and assessments and other proper charges upon the Mortgaged Property prior to the lien of this Indenture and reasonable compensation to itself, its agents and counsel, which the Trustee may deem it wise to pay, and all expenses of such repairs, extensions, additions and improvements, and to apply the same remainder of the moneys so received by the Trustee, subject to the provisions of Section 8.14 hereof with respect to extended, transferred or pledged claims for interest, first to the payment of the installments of interest which are due and unpaid, in the order of their maturity, and next, if the principal of any said Bonds is due, to the payment of the principal and accrued interest thereon pro rata without any preference or priority whatever, except as provided in Section 10.07aforesaid and thereafter the Make Whole Premium. Whenever all that is then due in respect upon such Bonds, including installments of the principal of and premium, if any, and interest, if any, on the Bonds interest and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17Defaults made good, the Trustee shall surrender possession of the Mortgaged Property to the Company, its successors or assigns; the same right of entry, however, to exist upon any subsequent Event of Default.
Appears in 1 contract
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may (but in no event shall be required to) appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee may (or its nomineebut in no event shall be required to) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the reasonable costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.0710.7. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 1 contract
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07907. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17917, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 1 contract
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by applicable law, (a) the Company, upon demand of the Trustee, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.079.07; and (b) the Company, upon request of the Trustee or the Holders of not less than thirty-three percent (33%) in principal amount of the Securities then Outstanding, will provide the Trustee or such Holders with (i) such financial or operating data or information relating to the Mortgaged Property as the Company may possess and the Trustee or such Holders reasonably may request as necessary for the proper operation, management and maintenance of the Mortgaged Property, and (ii) reasonable access to such officers of the Company that are familiar with such Mortgaged Property and related business for the purpose of obtaining information necessary for the proper operation, management and maintenance of the Mortgaged Property. The Company shall provide any such information and access pursuant to clauses (b)(i) and (ii) above without charge for up to eighteen (18) months after surrender of possession of the Mortgaged Property and shall be subject to the Trustee and such Holders entering into confidentiality agreements reasonably satisfactory to the Company with respect to such data or information. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.179.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 1 contract
Samples: Indenture of Mortgage and Deed of Trust (Aquila Inc)
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may (but in no event shall be required to) appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee may (or its nomineebut in no event shall be required to) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the reasonable costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.0710.7. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 1 contract
Samples: First Mortgage Indenture (South Jersey Industries Inc)
Entry Upon Mortgaged Property. If Prior to the Release Date, if an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.07. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 1 contract
Samples: Indenture of Mortgage (PG&E Corp)
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.071007. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.171017, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 1 contract
Samples: General Mortgage Indenture (Centerpoint Energy Houston Electric LLC)
Entry Upon Mortgaged Property. If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by applicable law; (a) the Company, upon demand of the Trustee, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as it may appoint, may enter upon and DC1 - 221297.15 take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien Lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided in Section 10.079.07; and (b) the Company, upon request of the Trustee or the Holders of not less than thirty-three percent (33%) in principal amount of the Securities then Outstanding, will provide the Trustee or such Holders with (i) such financial or operating data or information relating to the Mortgaged Property as the Company may possess and the Trustee or such Holders reasonably may request as necessary for the proper operation, management and maintenance of the Mortgaged Property, and (ii) reasonable access to such officers of the Company that are familiar with such Mortgaged Property and related business for the purpose of obtaining information necessary for the proper operation, management and maintenance of the Mortgaged Property. The Company shall provide any such information and access pursuant to clauses (b)(i) and (ii) above without charge for up to eighteen (18) months after surrender of possession of the Mortgaged Property and shall be subject to the Trustee and such Holders entering into confidentiality agreements reasonably satisfactory to the Company with respect to such data or information. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds Securities and under any of the terms of this Indenture shall have been paid and all defaults hereunder shall have been cured or shall have been waived as provided in Section 10.179.17, the Trustee shall surrender possession of the Mortgaged Property to the Company.
Appears in 1 contract
Samples: Bond Indenture, Mortgage, Deed of Trust, Security Agreement (Aquila Inc)