Common use of Notes Owned by Company Deemed Not Outstanding Clause in Contracts

Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent or waiver under this Indenture, Notes which are owned by the Company or any other obligor on the Notes or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver only Notes which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers' Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; and, subject to Section 5.01 and Section 5.02, the Trustee shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination.

Appears in 2 contracts

Samples: Williams Communications Group Inc, Williams Communications Group Inc

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Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent or waiver under this Indenture, Notes which that are owned by the Company or any other obligor on the Notes or by any person Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes shall be disregarded and deemed not to be outstanding Outstanding for the purpose of any such determination, except that for the purpose of determining whether a Responsible Officer of the Trustee shall be protected in relying on any such direction, consent or waiver waiver, only Notes which a Responsible Officer of that the Trustee actually knows are so owned shall be so disregarded. Notes so owned which that have been pledged in good faith may be regarded as outstanding Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any person Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers' Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; Persons, and, subject to Section 5.01 SECTION 5.1 and Section 5.02SECTION 5.2 hereof, the Trustee shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding Outstanding for the purpose of any such determination.

Appears in 2 contracts

Samples: Indenture (Edison Mission Energy), Indenture (Edison Mission Finance Co)

Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate principal amount of Outstanding Notes have concurred in any directionrequest, consent or waiver under this IndentureIndenture or the Notes, and for the purpose of making the calculations required by TIA Section 313, Notes which that are owned by the Company or any Affiliate or Subsidiary of the Company or any other obligor on the Notes with respect to which such determination is being made or by any person Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes securities with respect to which such determination is being made shall be disregarded and deemed not to be outstanding Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such directionrequest, consent or waiver waiver, only Notes which that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which that have been pledged in good faith may be regarded as outstanding Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's ’s right so to act with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any person Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes. In the case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers' Certificate listing and identifying all Notessecurities, if any, known by the Company to be owned or held by or for the account of any of the above-described personsPersons; and, subject to Section 5.01 and Section 5.02, the Trustee shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding Outstanding for the purpose of any such determination.

Appears in 1 contract

Samples: Indenture (Telefonica of Argentina Inc)

Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate principal amount of Outstanding Notes have concurred in any request, demand, authorization, direction, consent notice, consent, waiver or waiver other action by Holders of Notes under this Indenture, Notes which are owned by the Company or any other obligor on the Notes with respect to which such determination is being made or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes with respect to which such determination is being made shall be disregarded and deemed not to be outstanding Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver action only Notes which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's ’s right so to act with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers' Officer’s Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; and, subject to Section 5.01 6.1 and Section 5.026.2, the Trustee shall be entitled to accept such Officers' Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding Outstanding for the purpose of any such determination.

Appears in 1 contract

Samples: Quadramed Corp

Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent or waiver under this Indenture, Notes which are owned by the Company or any other obligor on the Notes or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver only Notes which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers' Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; and, subject to Section 5.01 and Section 5.02, the Trustee shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set 107 114 forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination. Notwithstanding the foregoing, Notes owned by the Issuer shall be regarded as outstanding in all cases.

Appears in 1 contract

Samples: Williams Communications Group Inc

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Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders holders of the requisite aggregate principal amount of Notes at the time outstanding have concurred in any direction, consent or waiver under this Indenture, Notes which are owned by the Company or any other obligor on the Notes or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided, except that for the purpose purposes of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver waiver, only Notes which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding for the purposes of this Section 7.04 if the pledgee establishes shall establish to the satisfaction of the Trustee the pledgee's right so to act with respect to vote such Notes and that the pledgee is not the Company or any such other obligor upon the Notes or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor on the Notesobligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of to the Trustee, the Company shall furnish to the Trustee promptly an Officers' Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; and, subject to Section 5.01 and Section 5.02, the Trustee shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination. SECTION 7.05.

Appears in 1 contract

Samples: Indenture (Trenwick Group Inc)

Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate principal amount of Outstanding Notes have concurred in any direction, consent or waiver under this IndentureIndenture or whether a quorum is present at any meeting of Noteholders, Notes which are owned by the Company or any other obligor on the Notes with respect to which such determination is being made or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes with respect to which such determination is being made shall be disregarded and deemed not to be outstanding Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee or Collateral Agent shall be protected in relying on any such direction, consent or waiver waiver, and for purposes of determining the presence of a quorum, only Notes which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding Outstanding if the pledgee establishes to the satisfaction of the Trustee or the Collateral Agent the pledgee's right so to act with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee or Collateral Agent in accordance with such advice. Upon request of the TrusteeTrustee or Collateral Agent, the Company shall furnish to the Trustee or the Collateral Agent, as the case may be, promptly an Officers' Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; and, subject to Section 5.01 Sections 6.1, 6.2 and Section 5.026.3, the Trustee or Collateral Agent shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding Outstanding for the purpose of any such determination.. ARTICLE EIGHT

Appears in 1 contract

Samples: Indenture (Kellogg Co)

Notes Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate principal amount of 2008 Notes or 2010 Notes, as the case may be, have concurred in any direction, consent or waiver under this Indenture, Notes which are owned by the Company or any other obligor on the Notes or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the 109 115 purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver only Notes which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Notes. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers' Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; and, subject to Section 5.01 and Section 5.02, the Trustee shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination.

Appears in 1 contract

Samples: Williams Communications Group Inc

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