Common use of PROCEEDINGS, ACTION AND INDEMNIFICATION Clause in Contracts

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE Trustee shall not be bound to take any proceedings mentioned in Clause 8(A) or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal amount of the Notes then outstanding and in either case then only if it shall be indemnified to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 4 contracts

Samples: Supplemental Trust Deed (Cadbury Public LTD Co), Fourth Supplemental Trust Deed (Cadbury Schweppes Public LTD Co), Supplemental Trust Deed (Cadbury Schweppes Public LTD Co)

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PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE Trustee shall not be bound to take any proceedings mentioned in Clause 8(A) or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal amount of the Notes then outstanding and in either case then only if it shall be indemnified or, if it so requires, secured to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled (a) to proceed directly against any of the relevant Obligors Issuers or the Guarantor to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 2 contracts

Samples: Eighth Supplemental Trust Deed (Portugal Telecom SGPS Sa), Eighth Supplemental Trust Deed (PT Portugal, SGPS, S.A.)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE Trustee shall not be bound to take any proceedings mentioned in Clause 8(A7(A) or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter fifth in nominal principal amount of the Notes Securities then outstanding and in either case then only if it shall be indemnified to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder Holder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors Issuer to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 1 contract

Samples: Trust Deed (United Utilities PLC)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE Trustee shall not be bound to take any proceedings mentioned in Clause 8(A7(A) or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal principal amount of the Notes Securities then outstanding and in either case then only if it shall be indemnified to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder Holder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors Issuer to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 1 contract

Samples: Trust Deed (PPL Electric Utilities Corp)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE The Trustee shall not be bound to take any proceedings mentioned in Clause 8(A) Condition 9 or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal amount of the Notes then outstanding and in either case then only if it shall be indemnified and/or secured to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors Issuer or the Guarantor to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 1 contract

Samples: First Supplemental Trust Deed (Countrywide Financial Corp)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE The Trustee shall not be bound to take any proceedings mentioned in Clause 8(A) Condition 10 or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal aggregate amount of the Notes then outstanding and in either case then only if it shall be indemnified to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors Issuer to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 1 contract

Samples: Trust Deed (United Utilities PLC)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE Trustee shall not be bound to take any proceedings mentioned in Clause 8(AClause7(A) or any other action in relation to these presents unless respectively directed or requested to do so (i) by i)by an Extraordinary Resolution or (ii) in ii)in writing by the holders of at least one-quarter in nominal am amount of the Notes then outstanding and in either case then only if it shall be indemnified to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder Noteholder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors Issuer to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 1 contract

Samples: Supplemental Trust Deed (Ibm Credit Corp)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE Trustee shall not be bound to take any proceedings mentioned in Clause 8(A7(A) or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal amount of the Notes then outstanding and in either case then only if it shall be indemnified or, if it so requires, secured to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled (a) to proceed directly against any of the relevant Obligors Issuer, PT or PTC to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuingcontinuing or (b) to take proceedings to enforce the provisions of either Keep Well Agreement.

Appears in 1 contract

Samples: Fourth Supplemental Trust Deed (Portugal Telecom SGPS Sa)

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PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE Trustee shall not be bound to take any proceedings mentioned in Clause 8(A7(A) or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal amount of the Notes then outstanding and in either case then only if it shall be indemnified or, if it so requires, secured to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled (a) to proceed directly against any of the relevant Obligors Issuers or PTC to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuingcontinuing or (b) to take proceedings to enforce the provisions of either Keep Well Agreement.

Appears in 1 contract

Samples: Seventh Supplemental Trust Deed (Portugal Telecom SGPS Sa)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE The Trustee shall not be bound to take any proceedings mentioned in Clause 8(A) Condition 9 or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter in nominal amount of the Notes then outstanding and in either case then only if it shall be indemnified to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors Issuer or the Guarantor to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 1 contract

Samples: Supplemental Trust Deed (Countrywide Credit Industries Inc)

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE 9.1 The Trustee shall not be bound to take any action or proceedings mentioned in Clause 8(ACondition 9 (Events of Default and Enforcement) or any other action in relation to these presents unless respectively directed or requested to do so (ia) by an Extraordinary Resolution or (iib) in writing by the holders of at least one-quarter in aggregate nominal amount of the Notes then outstanding and in either case then only if it shall be indemnified and/or secured and/or prefunded to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) 9.2 Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder Noteholder or Couponholder shall be entitled to proceed directly against the Issuer or any of the relevant Obligors Guarantor to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails or is unable to do so within a reasonable period 60 days and such failure or inability is continuing.

Appears in 1 contract

Samples: Seventh Supplemental Trust Deed

PROCEEDINGS, ACTION AND INDEMNIFICATION. (A) THE 9.1 The Trustee shall not be bound to take any proceedings mentioned in Clause 8(A) Condition 14 or any other action in relation to these presents unless respectively directed or requested to do so (i) by an Extraordinary Resolution or (ii) in writing by the holders of at least one-quarter fifth in nominal aggregate amount of the Notes then outstanding and in either case then only if it shall be indemnified to its satisfaction against all Liabilities to which it may thereby render itself liable or which it may incur by so doing. (B) 9.2 Only the Trustee may enforce the provisions of these presents. No Noteholder, Receiptholder or Couponholder shall be entitled to proceed directly against any of the relevant Obligors Issuer or the Guarantor to enforce the performance of any of the provisions of these presents unless the Trustee having become bound as aforesaid to take proceedings fails to do so within a reasonable period and such failure is continuing.

Appears in 1 contract

Samples: Trust Deed (Texas Utilities Co /Tx/)

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