Common use of Permitted Amendments Clause in Contracts

Permitted Amendments. The Delaware Trustee and the Trustee may, jointly, from time to time supplement or amend the Transaction Documents to which the Trust is a party without the approval of Trust Unitholders in order to cure any ambiguity, to correct or supplement any provision contained herein or therein which may be defective or inconsistent with any other provisions herein or therein, to grant any benefit to all of the Trust Unitholders, or to change the name of the Trust, provided that such supplement or amendment does not adversely affect the interests of the Trust Unitholders, and provided further that any amendment to this Agreement made to change the name of the Trust in accordance with Section 12.05 or otherwise shall be conclusively deemed not to affect adversely the interests of the Trust Unitholders or result in a variance of the investment of the Trust or the Trust Unitholders. Additionally, the Trustee may, from time to time, supplement or amend the Transaction Documents without the approval of the Trust Unitholders provided that such supplement or amendment would not increase the costs or expenses of the Trust or adversely affect the economic interest of the Trust Unitholders. The Trustee and the Delaware Trustee, subject to the provisions of Sections 6.01 and 6.07 are entitled to, and may rely upon, a written opinion of counsel as conclusive evidence that any amendment or supplement pursuant to the immediately preceding sentences complies with the provisions of this Section 10.02. All other permitted amendments to the provisions of the Transaction Documents may be made only by a vote of the Trust Unitholders of record holding a majority of the then outstanding Trust Units at a meeting held in accordance with the requirements of Article VIII. No amendment that increases the obligations, duties or liabilities or affects the rights of the Delaware Trustee, the Trustee or any Entity serving in any such capacity shall be effective without the express written approval of such trustee or Entity.

Appears in 2 contracts

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

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Permitted Amendments. The Delaware Trustee and the Trustee may, jointly, from time to time supplement or amend the Transaction Documents to which the Trust is a party without the approval of Trust Unitholders in order to cure any ambiguity, to correct or supplement any provision contained herein or therein which may be defective or inconsistent with any other provisions herein or therein, to grant any benefit to all of the Trust Unitholders, or to change the name of the Trust, provided that such supplement or amendment does not adversely affect the interests of the Trust UnitholdersUnitholders in any material respect, and provided further that any amendment to this Agreement made to change the name of the Trust in accordance with Section 12.05 or otherwise shall be conclusively deemed not to affect adversely the interests of the Trust Unitholders or result in a variance of the investment of the Trust or the Trust Unitholders. Additionally, the Trustee may, from time to time, time supplement or amend the Transaction Documents without the approval of the Trust Unitholders provided that such supplement or amendment would not increase the costs or expenses of the Trust in any material respect or adversely affect the economic interest interests of the Trust UnitholdersUnitholders in any material respect. The Trustee and the Delaware Trustee, subject to the provisions of Sections 6.01 and 6.07 are entitled to, and may rely upon, a written opinion of counsel or a certificate of Trustor as conclusive evidence that any amendment or supplement pursuant to the immediately preceding sentences complies with the provisions of this Section 10.02. All other permitted amendments to the provisions of the Transaction Documents may be made only by a vote of the Trust Unitholders of record holding a majority of the then outstanding Trust Units at a meeting held in accordance with the requirements of Article VIII. No amendment that increases the obligations, duties or liabilities or affects the rights of the Delaware Trustee, the Trustee or any Entity serving in any such capacity shall be effective without the express written approval of such trustee or Entity.

Appears in 2 contracts

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

Permitted Amendments. The Prior to the Closing, amendments to the provisions of this Agreement may be made by mutual agreement of the Delaware Trustee, the Trustee and MV Partners, jointly, and no party shall have liability to any Trust Unitholder for any amendment, including any amendment that increases or decreases any right, benefit or liability of any present or future Trust Unitholder. After the Closing, the Delaware Trustee and the Trustee may, jointly, from time to time supplement or amend this Agreement, the Transaction Documents to which Conveyance or the Trust is a party Hedge Agreements Assignment without the approval of Trust Unitholders in order to cure any ambiguity, to correct or supplement any provision contained herein or therein which may be defective or inconsistent with any other provisions herein or therein, to grant any benefit to all of the Trust Unitholders, or to change the name of the Trust, provided that such supplement or amendment does not adversely affect the interests of the Trust Unitholders, and provided further that any amendment to this Agreement made to change the name of the Trust in accordance with Section 12.05 12.04 hereof or otherwise shall be conclusively deemed not to affect adversely the interests of the Trust Unitholders or result in a variance of the investment of the Trust or the Trust Unitholders. Additionally, the Trustee may, from time to time, supplement or amend the Transaction Documents without the approval of the Trust Unitholders provided that such supplement or amendment would not increase the costs or expenses of the Trust or adversely affect the economic interest of the Trust Unitholders. The Trustee and the Delaware Trustee, subject to the provisions of Sections 6.01 and 6.07 are entitled to, and may rely upon, a written opinion of counsel as conclusive evidence that any amendment or supplement pursuant to the immediately preceding sentences sentence complies with the provisions of this Section 10.02. All other permitted amendments to the provisions of the Transaction Documents this Agreement may be made only by a vote of the Trust Unitholders of record holding a majority of the then outstanding Trust Units at a meeting held in accordance with the requirements of Article VIII. No amendment that increases the obligations, duties or liabilities or affects the rights of the Delaware Trustee, the Trustee or any Entity serving in any such capacity shall be effective without the express written approval of such trustee or Entity.. ARTICLE XI

Appears in 1 contract

Samples: Trust Agreement (MV Oil Trust)

Permitted Amendments. The Prior to the Closing, amendments to the provisions of this Agreement may be made by mutual agreement of the Delaware Trustee, the Trustee and ECA, jointly, and no party shall have liability to any Trust Unitholder for any amendment, including any amendment that increases or decreases any right, benefit or liability of any present or future Trust Unitholder. After the Closing, the Delaware Trustee and the Trustee may, jointly, from time to time supplement or amend this Agreement, the Transaction Documents to which Conveyances, the Trust is a party Hedge Agreements or the Development Agreement without the approval of Trust Unitholders in order to cure any ambiguity, to correct or supplement any provision contained herein or therein which may be defective or inconsistent with any other provisions herein or therein, to grant any benefit to all of the Trust Unitholders, or to change the name of the Trust, provided that such supplement or amendment does not adversely affect the interests of the Trust Unitholders, and provided further that any amendment to this Agreement made to change the name of the Trust in accordance with Section 12.05 12.04 hereof or otherwise shall be conclusively deemed not to affect adversely the interests of the Trust Unitholders or result in a variance of the investment of the Trust or the Trust Unitholders. Additionally, the Trustee may, from time to time, supplement or amend the Transaction Documents without the approval of the Trust Unitholders provided that such supplement or amendment would not increase the costs or expenses of the Trust or adversely affect the economic interest of the Trust Unitholders. The Trustee and the Delaware Trustee, subject to the provisions of Sections 6.01 and 6.07 are entitled to, and may rely upon, a written opinion of counsel as conclusive evidence that any amendment or supplement pursuant to the immediately preceding sentences sentence complies with the provisions of this Section 10.02. All other permitted amendments to the provisions of the Transaction Documents this Agreement may be made only by a vote of the Trust Unitholders of record holding a majority of the then outstanding Trust Units at a meeting held in accordance with the requirements of Article VIII. No amendment that increases the obligations, duties or liabilities or affects the rights of the Delaware Trustee, the Trustee or any Entity serving in any such capacity shall be effective without the express written approval of such trustee or Entity.

Appears in 1 contract

Samples: Trust Agreement (Appalachian Gas Royalty Trust)

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Permitted Amendments. The Prior to the Closing, amendments to the provisions of this Agreement may be made by mutual agreement of the Delaware Trustee, the Trustee and Trustors, jointly, and no party shall have liability to any Trust Unitholder for any amendment, including any amendment that increases or decreases any right, benefit or liability of any present or future Trust Unitholder. After the Closing, the Delaware Trustee and the Trustee may, jointly, from time to time supplement or amend this Agreement or the Transaction Documents to which the Trust is a party Conveyance without the approval of Trust Unitholders in order to cure any ambiguity, to correct or supplement any provision contained herein or therein which may be defective or inconsistent with any other provisions herein or therein, to grant any benefit to all of the Trust Unitholders, or to change the name of the Trust, provided that such supplement or amendment does not adversely affect the interests of the Trust Unitholders, and provided further that any amendment to this Agreement made to change the name of the Trust in accordance with Section 12.05 or otherwise shall be conclusively deemed not to affect adversely the interests of the Trust Unitholders or result in a variance of the investment of the Trust or the Trust Unitholders. Additionally, the Trustee may, from time to time, time supplement or amend the Transaction Documents Registration Rights Agreement or the Administrative Services Agreement without the approval of the Trust Unitholders provided that such supplement or amendment would not increase the costs or expenses of the Trust or adversely affect the economic interest interests of the Trust Unitholders. The Trustee and the Delaware Trustee, subject to the provisions of Sections 6.01 and 6.07 are entitled to, and may rely upon, a written opinion of counsel as conclusive evidence that any amendment or supplement pursuant to the immediately preceding sentences sentence complies with the provisions of this Section 10.02. All other permitted amendments to the provisions of this Agreement the Transaction Documents Conveyance, the Registration Rights Agreement or the Administrative Services Agreement may be made only by a vote of the Trust Unitholders of record holding a majority of the then outstanding Trust Units at a meeting held in accordance with the requirements of Article VIII. No amendment that increases the obligations, duties or liabilities or affects the rights of the Delaware Trustee, the Trustee or any Entity serving in any such capacity shall be effective without the express written approval of such trustee or Entity.

Appears in 1 contract

Samples: Trust Agreement (Whiting Petroleum Corp)

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