Common use of Separate or Co-Trustee Clause in Contracts

Separate or Co-Trustee. At any time or times, solely for the purpose of meeting any legal requirements of any jurisdiction other than Illinois, the Board and the Trustee shall have power to appoint, and, upon the request of the Trustee or of the Owners of at least a majority in aggregate principal amount of Certificates then Outstanding, the Board shall for such purpose join with the Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to appoint, one or more persons, approved by the Trustee and, unless an Event of Default has occurred and is continuing, the Board, either to act as co-trustee or co-trustees, jointly with the Trustee of all or any part of the pledged property, or to act as separate trustee or separate trustees of all or any part of the pledged property, and to vest in such person or persons, in such capacity, such title to the pledged property or any part thereof, and such rights, powers, duties, trusts or obligations as the Board and the Trustee may consider necessary or desirable, subject to the remaining provisions of this Section. If the Board shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make such appointment. The Board shall execute, acknowledge and deliver all such instruments as may reasonably be required by any such co-trustee or separate trustee for more fully and certainly vesting in such co-trustee or separate trustee the property, rights, powers and duties intended to be vested in such co-trustee or separate trustee. The Board shall be under no obligation to prepare any such instruments. Every co-trustee or separate trustee shall, to the extent permitted by law but to such extent only, be appointed subject to the following terms, namely:

Separate or Co-Trustee. At any time or times, solely for the purpose of meeting any the legal requirements of any jurisdiction other than Illinoisjurisdiction, the Board Lessee and the Trustee shall have power to appoint, and, upon the request of the Trustee or of the Owners of at least a majority in aggregate principal amount Aggregate Value of Certificates then Outstanding, the Board Lessee shall for such purpose join with the Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to appoint, one or more persons, approved by the Trustee and, unless an Event of Default has occurred and is continuing, continuing by the BoardLessee, either to act as co-trustee or co-trustees, jointly with the Trustee of all or any part of the pledged property, or to act as separate trustee or separate trustees of all or any part of the pledged property, and to vest in such person or persons, in such capacity, such title to the pledged property or any part thereof, and such rights, powers, duties, trusts or obligations as the Board Lessee and the Trustee may consider necessary or desirable, subject to the remaining provisions of this Section. If the Board Lessee shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make such appointment. The Board Lessee shall execute, acknowledge and deliver all such instruments as may reasonably be required by any such co-trustee or separate trustee for more fully and certainly vesting in such co-trustee or separate trustee the property, rights, powers and duties intended to be vested in such co-trustee or separate trustee. The Board Lessee shall be under no obligation to prepare any such instruments. Every co-trustee or separate trustee shall, to the extent permitted by law but to such extent only, be appointed subject to the following terms, namely:

Separate or Co-Trustee. At any time or times, solely for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirements law of any jurisdiction (including particularly the laws of the State) denying or restricting the right of Credit Banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in the case of litigation under this Indenture, and in particular in the case of the enforcement of this Indenture upon the occurrence of an Event of Default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the rights, powers, trusts or remedies herein granted to the Trustee or hold title to the trust estate, as herein granted and described in the Granting Clause, or take any other than Illinoisaction which may be desirable or necessary in connection therewith, it may be necessary or desirable for the Board Trustee to appoint an individual or institution as a separate or co-trustee. The Trustee is hereby authorized to appoint a separate or co-trustee under such circumstances, and the following provisions of this Section shall apply to any separate or co-trustee so appointed. In the event that the Trustee appoints an individual or institution as a separate or cotrustee, each and every right, power, trust, remedy, estate, title, interest, claim, cause of action and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee shall have power be exercisable by and vested in such separate or co-trustee, but only to appoint, and, upon the request of extent necessary to enable the Trustee separate or of the Owners of at least a majority in aggregate principal amount of Certificates then Outstanding, the Board shall for such purpose join with the Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to appoint, one or more persons, approved by the Trustee and, unless an Event of Default has occurred and is continuing, the Board, either to act as co-trustee or co-trustees, jointly with the Trustee of all or any part of the pledged property, or to act as separate trustee or separate trustees of all or any part of the pledged property, and to vest in such person or persons, in such capacity, such title to the pledged property or any part thereof, and exercise such rights, powers, dutiestrusts and remedies. Should any deed, trusts conveyance or obligations as instrument in writing from the Board and the Trustee may consider necessary or desirable, subject to the remaining provisions of this Section. If the Board shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make such appointment. The Board shall execute, acknowledge and deliver all such instruments as may reasonably Issuer be required by any such separate trustee or co-trustee or separate trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such co-trustee or separate trustee the propertyestates, rights, powers powers, trusts, duties and duties intended to obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be vested in such co-executed, acknowledged and delivered by the Issuer. In case any separate trustee or separate trustee. The Board shall be under no obligation to prepare any such instruments. Every co-trustee cotrustee, or separate trustee shall, to the extent permitted by law but to such extent only, be appointed subject to the following terms, namely:a

Separate or Co-Trustee. At any time or times, solely for It is the purpose of meeting this Indenture that there shall be no violation of any legal requirements law of any jurisdiction (including particularly the laws of the State) denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in the case of litigation under this Indenture, and in particular in the case of the enforcement of this Indenture upon the occurrence of an Event of Default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the rights, powers, trusts or remedies herein granted to the Trustee or hold title to the trust estate, as herein granted and described in the Granting Clause, or take any other than Illinoisaction which may be desirable or necessary in connection therewith, it may be necessary or desirable for the Board Trustee to appoint an individual or institution as a separate or co-trustee. The Trustee is hereby authorized to appoint a separate or co-trustee under such circumstances, and the following provisions of this Section shall apply to any separate or co-trustee so appointed. In the event that the Trustee appoints an individual or institution as a separate or co-trustee, each and every right, power, trust, remedy, estate, title, interest, claim, cause of action and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee shall have power be exercisable by and vested in such separate or co-trustee, but only to appoint, and, upon the request of extent necessary to enable the Trustee separate or of the Owners of at least a majority in aggregate principal amount of Certificates then Outstanding, the Board shall for such purpose join with the Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to appoint, one or more persons, approved by the Trustee and, unless an Event of Default has occurred and is continuing, the Board, either to act as co-trustee or co-trustees, jointly with the Trustee of all or any part of the pledged property, or to act as separate trustee or separate trustees of all or any part of the pledged property, and to vest in such person or persons, in such capacity, such title to the pledged property or any part thereof, and exercise such rights, powers, dutiestrusts and remedies. Should any deed, trusts conveyance or obligations as instrument in writing from the Board and the Trustee may consider necessary or desirable, subject to the remaining provisions of this Section. If the Board shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default shall have occurred and City be continuing, the Trustee alone shall have power to make such appointment. The Board shall execute, acknowledge and deliver all such instruments as may reasonably be required by any such separate trustee or co-trustee or separate trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such estates, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the City. In case any separate trustee or co-trustee, or a successor to either, shall die, become incapable of acting, resign or be removed, all the estates, rights, powers, trusts, duties and obligations of such separate trustee or co-trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a successor, separate or co-trustee. Except as otherwise required by applicable law, no right or power granted by this Indenture to any separate or co-trustee shall be exercised by such separate or separate trustee the property, rights, powers and duties intended to be vested in such co-trustee alone unless such separate or separate trustee. The Board shall be under no obligation to prepare any such instruments. Every co-trustee shall have obtained the written consent of the Trustee to do so. The Trustee may at any time, by an instrument in writing executed by it, remove any separate or separate trustee shallco-trustee, to the extent permitted and in such event may, in its discretion, by law but an instrument in writing executed by it, appoint a successor to such extent only, be appointed subject to the following terms, namely:separate or co-trustee.