Common use of Provisions for the Debenture Trustee Clause in Contracts

Provisions for the Debenture Trustee. (i) The Debenture Trustee shall perform its duties and obligations, and exercise its rights and discretions, in accordance with the provisions of this Deed, the other Debenture Documents and Laws and in keeping with the trust reposed in the Debenture Trustee by the Debenture Holders and shall further conduct itself, and comply with the provisions of all Laws. Notwithstanding anything contained in this Deed, the Debenture Trustee shall in the relation to creation of the Security, continuance of such Encumbrances, preservation and/or maintenance of the Secured Property, and the other Trust property, always ensure that it exercises such degree of care as is expected from a person of ordinary prudence to protect the interest of the Debenture Holders and to ensure that value of the Secured Property is preserved. Provided that, the provisions of Section 20 of the Indian Trusts Act, 1882, shall not be applicable to the Debenture Trustee and/or the Trust created hereunder and any accretions thereto. The Debenture Trustee shall perform all the functions as required to discharge its obligations under this Deed and/or the other Debenture Documents including but not limited to the following and in relation thereto shall be provided full co-operation from the Company:

Appears in 4 contracts

Samples: Debenture Trust Deed, Debenture Trust Deed, Debenture Trust Deed

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