Common use of Surrender of Company Powers Clause in Contracts

Surrender of Company Powers. The Company or the Guarantor, by instrument in writing executed by authority of 2/3 (two thirds) of its Board of Directors and delivered to the Trustee, may surrender any of the powers reserved to the Company or the Guarantor and thereupon such power so surrendered shall terminate as to the Company or the Guarantor, as the case may be, and as to any permitted successor.

Surrender of Company Powers. The Company or the Guarantor, Guarantor by instrument in writing executed by authority of 2/3 (two two-thirds) of its Board of Directors and delivered to the Trustee, Trustee may surrender any of the powers reserved to the Company or the Guarantor as the case may be, and thereupon such power so surrendered shall terminate both as to the Company or the Guarantor, as the case may be, and as to any permitted successorsuccessor corporation.

Surrender of Company Powers. The Company or the Guarantor, Guarantor by instrument in writing executed by authority of 2/3 (two two-thirds) of its Board of Directors and delivered to the Trustee, Trustee may surrender any of the powers reserved to the Company or the Guarantor Guarantor, as the case may be, and thereupon such power so surrendered shall terminate both as to the Company or the Guarantor, as the case may be, and as to any permitted successorsuccessor corporation.