POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE
POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE 6 Section 3.1 Powers and Duties of the Guarantee Trustee 6 Section 3.2 Certain Rights of Guarantee Trustee 7 Section 3.3 Indemnity 9 ARTICLE IV. GUARANTEE TRUSTEE 10 Section 4.1 Guarantee Trustee: Eligibility 10 Section 4.2 Appointment, Removal and Resignation of the Guarantee Trustee 10 ARTICLE V. GUARANTEE 11 Section 5.1 Guarantee 11 Section 5.2 Waiver of Notice and Demand 11 Section 5.3 Obligations Not Affected 11 Section 5.4 Rights of Holders 12 Section 5.5 Guarantee of Payment 12 Section 5.6 Subrogation 12 Section 5.7 Independent Obligations 13 ARTICLE VI. COVENANTS AND SUBORDINATION 13 Section 6.1 Subordination 13 Section 6.2 Pari Passu Guarantees 13 ARTICLE VII. TERMINATION 13 Section 7.1 Termination 13 ARTICLE VIII. MISCELLANEOUS 13 Section 8.1 Successors and Assigns 13 Section 8.2 Amendments 14 Section 8.3 Notices 14 Section 8.4 Benefit 15 Section 8.5 Interpretation 15 Section 8.6 Governing Law 16 This GUARANTEE AGREEMENT, dated as of , , is executed and delivered by LINCOLN NATIONAL CORPORATION, an Indiana corporation (the “Guarantor”) having its principal office at 1000 Xxxxxx Xxxxxx, Xxxxx 0000, Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000-0000, and BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Guarantee Trustee”), for the benefit of the Holders (as defined herein) from time to time of the Preferred Securities (as defined herein) of Lincoln National Capital VII, a Delaware statutory business trust (the “Issuer”).
POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE
3.1 Powers and Duties of the Guarantee Trustee........................................... 7 3.2 Certain Rights of Guarantee Trustee.................................................. 9 3.3 Indemnity............................................................................ 10
POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE 7 SECTION 3.1 Powers and Duties of the Guarantee Trustee 7 SECTION 3.2 Certain Rights of Guarantee Trustee 8 SECTION 3.3 Indemnity 10
POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE SECTION 3.1. Powers and Duties of the Guarantee Trustee.................6 SECTION 3.2. Certain Rights of Guarantee Trustee........................7 SECTION 3.3. Indemnity..................................................9
POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE SECTION 3.1. Powers and Duties of the Guarantee Trustee.. .
POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE SECTION 2.1 Powers and Duties of the Guarantee Trustee ..................................................... 4 SECTION 2.2 Certain Rights of the Guarantee Trustee ............................................................ 6 SECTION 2.3 Not Responsible for Recitals or Issuance of Guarantee ..................................... 8 SECTION 2.4 Events of Default; Waiver. ................................................................................. 8 SECTION 2.5 Events of Default; Notice ................................................................................... 8 ARTICLE III THE GUARANTEE TRUSTEE SECTION 3 .I The Guarantee Trustee; Eligibility ..................................................................... 8 SECTION 3.2 Appointment, Removal and Resignation of the Guarantee Trustee ................... 9
POWERS, DUTIES AND RIGHTS OF THE. CAPITAL SECURITIES GUARANTEE TRUSTEE
POWERS, DUTIES AND RIGHTS OF THE. Guarantee Trustee -----------------
POWERS, DUTIES AND RIGHTS OF THE. GUARANTEE TRUSTEE 6 Section 3.1 Powers and Duties of the Guarantee Trustee 6 Section 3.2 Certain Rights of Guarantee Trustee 8 Section 3.3 Indemnity 10 ARTICLE IV. GUARANTEE TRUSTEE 10 Section 4.1 Guarantee Trustee: Eligibility 10 Section 4.2 Appointment, Removal and Resignation of the Guarantee Trustee 10 ARTICLE V. GUARANTEE 11 Section 5.1 Guarantee 11 Section 5.2 Waiver of Notice and Demand 11 Section 5.3 Obligations Not Affected 11 Section 5.4 Rights of Holders 12 Section 5.5 Guarantee of Payment 13 Section 5.6 Subrogation 13 Section 5.7 Independent Obligations 13 ARTICLE VI. COVENANTS AND SUBORDINATION 13 Section 6.1 Subordination 13 Section 6.2 Pari Passu Guarantees 13 ARTICLE VII. TERMINATION 14 Section 7.1 Termination 14 ARTICLE VIII. MISCELLANEOUS 14 Section 8.1 Successors and Assigns 14 Section 8.2 Amendments 14 Section 8.3 Notices 14 Section 8.4 Benefit 16 Section 8.5 Interpretation 16
