Removal by Trust Sample Clauses

Removal by Trust. The Trust must remove the Indenture Trustee and terminate its rights and obligations under this Indenture if: (i) the Indenture Trustee fails to comply with the eligibility requirements in Section 6.11; (ii) the Indenture Trustee becomes legally unable to act or incapable of acting as Indenture Trustee; or (iii) an Insolvency Event for the Indenture Trustee occurs.
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Related to Removal by Trust

  • Collection Suit by Trustee If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07.

  • Proceedings by Trustee In case of an Event of Default, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

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