Common use of No Power to Engage in Business or Make Investments or Issue Additional Securities Clause in Contracts

No Power to Engage in Business or Make Investments or Issue Additional Securities. Neither the Trustee nor the Delaware Trustee shall cause or permit the Trust to (a) acquire any asset other than the Net Profits Interest and Pre-Effective Time Payment and proceeds therefrom, other than in connection with the rights of the Trust to enforce the terms and provisions of the Transaction Document to which it is a part, and to collect other amounts paid to the Trust as set forth herein, (b) engage in any business or investment activity of any kind whatsoever, except for the activities permitted herein or (c) issue Trust Units or other securities after the Closing Date. Neither the Trustee nor the Delaware Trustee shall have any responsibility or authority relating to the development or operations of the Underlying Properties or the marketing of any production therefrom.

Appears in 2 contracts

Samples: Trust Agreement (Whiting USA Trust II), Trust Agreement (Whiting USA Trust II)

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No Power to Engage in Business or Make Investments or Issue Additional Securities. Neither the Trustee nor the Delaware Trustee shall cause or permit the Trust to (a) acquire any asset other than the Net Profits Interest and Pre-Effective Time Payment and proceeds therefromassets conveyed or transferred to the Trust pursuant to Section 2.03, other than in connection with the rights of the Trust to enforce the terms and provisions of the Transaction Document Documents to which it is a partparty, and to collect other amounts paid to the Trust as set forth herein, or (b) engage in any business or investment activity of any kind whatsoever, except for the activities permitted herein or (c) issue Trust Units or other securities after the Closing DateDate other than Overallotment Option Units. Neither the Trustee nor the Delaware Trustee shall have any responsibility or authority relating to the development or operations of the Underlying Properties or the marketing of any production therefromtherefrom or any other business decision affecting the assets of the Trust.

Appears in 2 contracts

Samples: Trust Agreement (ECA Marcellus Trust I), Trust Agreement (ECA Marcellus Trust I)

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No Power to Engage in Business or Make Investments or Issue Additional Securities. Neither the Trustee nor the Delaware Trustee shall cause or permit the Trust to (a) acquire any asset other than the Net Profits Interest and Pre-Effective Time Payment and proceeds therefrom, other than in connection with the rights of the Trust to enforce the terms and provisions of the Transaction Document Documents to which it is a partparty, and to collect other amounts paid to the Trust as set forth herein, (b) engage in any business or investment activity of any kind whatsoever, except for the activities permitted herein herein, or (c) issue Trust Units or other securities after the Closing Date. Neither the Trustee nor the Delaware Trustee shall have any responsibility or authority relating to the development or operations of the Underlying Properties or the marketing of any production therefrom.

Appears in 2 contracts

Samples: Trust Agreement (VOC Energy Trust), Trust Agreement (VOC Brazos Energy Partners, LP)

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