Common use of Indenture Trustee Not Ordinarily Bound Clause in Contracts

Indenture Trustee Not Ordinarily Bound. Except as provided in Section 6.2 and as otherwise specifically provided herein, the Indenture Trustee shall not, subject to Section 10.4, be bound to give notice to any Person of the execution hereof, nor to do, observe or perform or see to the observance or performance by Baytex of any of the obligations herein imposed upon Baytex or of the covenants on the part of Baytex herein contained, nor in any way to supervise or interfere with the conduct of Baytex's business, unless the Indenture Trustee shall have been required to do so in writing by the holders of not less than 25% of the aggregate principal amount of the Debt Securities then outstanding or by any Extraordinary Resolution of the Debtholders passed in accordance with the provisions contained in Article 8, and then only after it shall have been funded and indemnified to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages and expenses which it may incur by so doing.

Indenture Trustee Not Ordinarily Bound. Except as provided in Section 6.2 8.2 and as otherwise specifically provided herein, the Indenture Trustee shall not, subject to Section 10.413.3, be bound to give notice to any Person of the execution hereof, nor to do, observe or perform or see to the observance or performance by Baytex the Corporation of any of the obligations herein imposed upon Baytex the Corporation or of the covenants on the part of Baytex the Corporation herein contained, nor in any way to supervise or interfere with the conduct of Baytexthe Corporation's business, unless the Indenture Trustee shall have been required to do so in writing by the holders of not less than 25% of the aggregate principal amount of the Debt Securities Debentures then outstanding or by any Extraordinary Resolution of the Debtholders Debentureholders passed in accordance with the provisions contained in Article 811, and then only after it shall have been funded and indemnified to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages and expenses which it may incur by so doing.

Indenture Trustee Not Ordinarily Bound. Except as provided in Section 6.2 7.2 and as otherwise specifically provided herein, the Indenture Trustee shall not, subject to Section 10.413.3, be bound to give notice to any Person of the execution hereof, nor to do, observe or perform or see to the observance or performance by Baytex the Corporation of any of the obligations herein imposed upon Baytex the Corporation or of the covenants on the part of Baytex the Corporation herein contained, nor in any way to supervise or interfere with the conduct of Baytex's the Corporation’s business, unless the Indenture Trustee shall have been required to do so in writing by the holders of not less than 25% of the aggregate principal amount of the Debt Securities Debentures then outstanding or by any Extraordinary Resolution of the Debtholders Debentureholders passed in accordance with the provisions contained in Article 811, and then only after it shall have been funded and indemnified to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages and expenses which it may incur by so doing.

Indenture Trustee Not Ordinarily Bound. Except as provided in Section 6.2 7.2 and as otherwise specifically provided herein, the Indenture Trustee shall not, subject to Section 10.411.3, be bound to give notice to any Person of the execution hereof, nor to do, observe or perform or see to the observance or performance by Baytex the Trust of any of the obligations herein imposed upon Baytex the Trust or of the covenants on the part of Baytex the Trust herein contained, nor in any way to supervise or interfere with the conduct of Baytex's the Trust’s business, unless the Indenture Trustee shall have been required to do so in writing by the holders of not less than 25% of the aggregate principal amount of the Debt Securities then outstanding or by any Extraordinary Resolution of the Debtholders passed in accordance with the provisions contained in Article 89, and then only after it shall have been funded and indemnified to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages and expenses which it may incur by so doing.

Indenture Trustee Not Ordinarily Bound. ‌ Except as provided in Section 6.2 8.2 and as otherwise specifically provided herein, the Indenture Trustee shall not, subject to Section 10.415.3, be bound to give notice to any Person person of the execution hereof, nor to do, observe or perform or see to the observance or performance by Baytex the Corporation of any of the obligations herein imposed upon Baytex the Corporation or of the covenants on the part of Baytex the Corporation herein contained, nor in any way to supervise or interfere with the conduct of Baytexthe Corporation's business, unless the Indenture Trustee shall have been required to do so in writing by the holders of not less than 25% of the aggregate principal amount of the Debt Securities Debentures then outstanding or by any Extraordinary Resolution of the Debtholders Debentureholders passed in accordance with the provisions contained in Article 813, and then only after it shall have been funded and indemnified to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages and expenses which it may incur by so doing.