Legal Action by Trustee Sample Clauses

Legal Action by Trustee. The Trustee shall not be required to institute or engage in any legal action or to take any action other than required by this Trust, unless it expressly agrees in writing to do so and unless arrangements have been made to indemnify it fully for all expenses that may be incurred in connection therewith.
Sample 1Sample 2
AutoNDA by SimpleDocs
Legal Action by Trustee. Except in the event the Company or the Bank is Insolvent (as defined in Section 12.1), the Trustee shall not itself commence any legal action, whether in the nature of an interpleader action, request for declaratory judgment, or otherwise, requesting the court to (i) determine the validity of this Trust Agreement or (ii) make any determination in the Trustee's or the Committee's stead with respect to Benefits which this Trust Agreement requires to be made by the Trustee or the Committee. Notwithstanding the foregoing sentence, in defending any legal action brought by a Participant or Beneficiary with respect to Benefits due on account of a Participant (and with respect to the Committee, at any time in its sole discretion), the Trustee and the Committee shall each be entitled to ask the court to determine the Benefits due on account of such Participant.
Sample 1Sample 2
Legal Action by Trustee. 70 vi 9 TABLE OF CONTENTS (CONT.)
Sample 1
Legal Action by Trustee. Except in the event the Company is Insolvent (as defined in Section 12.1), the Trustee shall not itself commence any legal action, whether in the nature of an interpleader action, request for declaratory judgment, or otherwise, requesting a court (i) to determine the validity of this Trust Agreement, or (ii) to make any determination in the Trustee's stead with respect to any Company Obligation that this Trust Agreement requires to be made by the Trustee. Notwithstanding the foregoing sentence, in defending any legal action brought with respect to any Company Obligation, the Trustee shall be entitled to ask the court to determine the nature and amount of such Company Obligation.
Sample 1
Legal Action by Trustee. Except in the event the Bank is Insolvent (as defined in Section 12.1), the Trustee shall not itself commence any legal action, whether in the nature of an interpleader action, request for declaratory judgment, or otherwise, requesting the court to (i) determine the validity of this Trust Agreement or (ii) make any determination in the Trustee's or the Committee's stead with respect to payments which this Trust Agreement requires to be made by the Trustee, except at the direction of the Committee. Notwithstanding the foregoing sentence, in defending any legal action brought by a Participant or Beneficiary with respect to amounts payable with respect to a Participant, the Trustee shall be entitled to ask the court to determine the amounts payable with respect to such Participant.
Sample 1
Legal Action by Trustee. Except in the event the Company or the Bank is Insolvent (as defined in Section 12.1), the Trustee shall not itself commence any legal action, whether in the nature of an interpleader action, request for declaratory judgment, or otherwise, requesting the court to (i) determine the validity of this Trust Agreement or (ii) make any determination in the Trustee's or the Committee's stead with respect to Benefits which this Trust Agreement requires to be made by the Trustee or the Committee. Notwithstanding the foregoing sentence, in defending any legal action brought by a Participant or Beneficiary with respect to Benefits due on account
Sample 1
Legal Action by Trustee. The Trustee, in its discretion, may xxx or defend any suit or legal proceeding by or against the Trust, and may compromise, submit to arbitration or settle any such suit or legal proceeding, or any claim, debt, damage, or undertaking due to or owing from the Trust.
Sample 1
AutoNDA by SimpleDocs

Related to Legal Action by Trustee

  • Proceedings by Trustee In case of an Event of Default, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

  • Actions by Trustee SECTION 5.1 Prior Notice to Certificateholders with Respect to Certain Matters................................. 20 SECTION 5.2 Action by Trustee with Respect to Certain Matters.................................................. 21 SECTION 5.3

  • Collection Suit by Trustee If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07.

  • Indemnification by Trust The Trust shall indemnify and hold harmless the Custodian, any Sub-Custodian and any nominee thereof (each, an “Indemnified Party” and collectively, the “Indemnified Parties”) from and against any and all claims, demands, losses, expenses and liabilities of any and every nature (including reasonable attorneys' fees) that an Indemnified Party may sustain or incur or that may be asserted against an Indemnified Party by any person arising directly or indirectly (i) from the fact that Securities are registered in the name of any such nominee, (ii) from any action taken or omitted to be taken by the Custodian or such Sub-Custodian (a) at the request or direction of or in reliance on the advice of the Trust, or (b) upon Proper Instructions, or (iii) from the performance of its obligations under this Agreement or any sub-custody agreement, provided that neither the Custodian nor any such Sub-Custodian shall be indemnified and held harmless from and against any such claim, demand, loss, expense or liability arising out of or relating to its refusal or failure to comply with the terms of this Agreement (or any sub-custody agreement), or from its bad faith, negligence or willful misconduct in the performance of its duties under this Agreement (or any sub-custody agreement). This indemnity shall be a continuing obligation of the Trust, its successors and assigns, notwithstanding the termination of this Agreement. As used in this paragraph, the terms “Custodian” and “Sub-Custodian” shall include their respective directors, officers and employees.

  • Delegation by Trustees Subject only to any limitations required by federal law including the 1940 Act, the Trustees may delegate any and all powers and authority hereunder as they consider desirable to any officer of the Trust, to any committee of the Trustees, any committee composed of Trustees and other persons and any committee composed only of persons other than Trustees and to any agent, independent contractor or employee of the Trust or to any custodian, administrator, transfer or shareholder servicing agent, Manager, investment advisor or sub-advisor, Principal Underwriter or other service provider, provided that such delegation of power or authority by the Trustees shall not cause any Trustee to cease to be a Trustee of the Trust or cause such person, officer, agent, employee, custodian, transfer or shareholder servicing agent, Manager, Principal Underwriter or other service provider to whom any power or authority has been delegated to be a Trustee of the Trust. The reference in this Declaration of Trust to the right of the Trustees to, or circumstances under which they may, delegate any power or authority, or the reference in this Declaration of Trust to the authorized agents of the Trustees or any other Person to whom any power or authority has been or may be delegated pursuant to any specific provision of this Declaration of Trust, shall not limit the authority of the Trustees to delegate any other power or authority under this Declaration of Trust to any Person, subject only to any limitations under federal law including the 1940 Act.

  • Reports by Trustee (a) The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto.

  • Effectuation of Subordination by Trustee Each holder of Securities or Coupons, by his acceptance thereof, authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article and appoints the Trustee his attorney-in-fact for any and all such purposes.

  • Reports by Trustee to the Holders As promptly as practicable after each June 30 beginning with the June 30 following the date of this Indenture, and in any event prior to August 30 in each year, the Trustee shall send to each Holder a brief report dated as of such June 30 that complies with Section 313(a) of the TIA if and to the extent required thereby. The Trustee shall also comply with Section 313(b) of the TIA. A copy of each report at the time of its mailing to the Holders shall be filed with the SEC and each stock exchange (if any) on which the Securities are listed. The Issuer agrees to notify promptly the Trustee in writing whenever the Securities become listed on any stock exchange and of any delisting thereof.

  • Judicial Proceedings Instituted by Trustee; Trustee May Bring Suit If there shall be a failure to make payment of the principal of or premium, if any, or interest on any Underlying Security, then the Trustee, in its own name, and as trustee of an express trust, as holder of such Underlying Security, shall be, to the extent permitted by and in accordance with the terms of the Underlying Security, subject to the limitations on acceleration and the exercise of remedies set forth therein, and further subject to the provisions of Sections 7.01(c) and 7.06(f) herein, entitled and empowered to institute Proceedings at law, in equity or otherwise, including the power to make a demand on the trustee in respect of such Underlying Security, if provided for, to take action to enforce the Underlying Security for the collection of the sums so due and unpaid on such Underlying Security and may prosecute any such Proceeding to judgment or final decree with respect to the whole amount of any such sums so due and unpaid.

  • Reports by Trustee to Holders If required by TIA Section 313(a), within 60 days after May 15 of any year, commencing the May 15 following the date of this Indenture, the Trustee shall mail to each Holder a brief report dated as of such May 15 that complies with TIA Section 313(a). The Trustee also shall comply with TIA Section 313(b), (c) and (d). Reports pursuant to this Section 7.06 shall be transmitted by mail:

Time is Money Join Law Insider Premium to draft better contracts faster.