Common use of TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE Clause in Contracts

TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (including particularly 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 case of litigation under this Indenture or the Lease, and in particular in case of the enforcement of either on 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 powers, rights or remedies herein granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co-trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, title, interest and lien expressed or intended by this Indenture to be exercised by the Trustee with respect thereto shall be exercisable by such co-trustee or separate trustee but only to the extent necessary to enable such co-trustee or separate trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such co-trustee or separate trustee shall run to and be enforceable by either of them. (c) Should any deed, conveyance or instrument in writing from the Issuer be required by the co-trustee or separate trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. (d) In case any co-trustee or separate trustee shall die, become incapable of acting, resign or be removed, all the properties, rights, powers, trusts, duties and obligations of such co-trustee or separate trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a successor to such co-trustee or separate trustee.

Appears in 3 contracts

Samples: Trust Indenture (Elecsys Corp), Trust Indenture (Capital Lease Funding Inc), Trust Indenture (Capital Lease Funding Inc)

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TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the the‌ purpose of this Indenture hereof that there shall be no violation of any law of any jurisdiction (including particularly 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 case of litigation under this Indenture or the Leasehereunder, and in particular in case of the enforcement occurrence of either on defaultan Event of Default, or in case it may be necessary that the Trustee deems that appoint an additional institution as a separate Trustee or Co-Trustee. The following provisions of this Section 9.10 are adapted to these ends. Upon the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction it may not jurisdiction, to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co-trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed herein or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by such coand vest in a separate Trustee or Co-trustee or separate trustee Trustee appointed by the Trustee but only to the extent necessary to enable such cothe separate Trustee or Co-trustee or separate trustee Trustee to exercise such powersrights, rights powers and remediestrusts, and every covenant agreement and obligation necessary to the exercise thereof by such coseparate Trustee or Co-trustee or separate trustee Trustee shall run to and be enforceable by either of them. (c) . Should any deed, conveyance or instrument in writing from the Issuer be required by the coseparate Trustee or Co-trustee or separate trustee Trustee so appointed by the Trustee for in order to more fully and certainly vesting vest in and confirming confirm to him or it such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. (d) . In case any coseparate Trustee or Co-trustee Trustee, or separate trustee a successor to either, shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such coseparate Trustee or Co-trustee or separate trusteeTrustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Trustee or successor to such coseparate Trustee or Co-trustee Trustee. Any separate Trustee or separate trusteeCo- Trustee appointed pursuant to this Section 8.10 shall be a trust company or bank in good standing having trust powers and having a reported capital, surplus and individual profits of not less than $30,000,000.

Appears in 1 contract

Samples: Trust Indenture

TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (including particularly 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 case of litigation under this Indenture or the Lease, and in particular in case of the enforcement of either on 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 powers, rights or remedies herein granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co-trustee co‑trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee co‑trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee co‑trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, title, interest and lien expressed or intended by this Indenture to be exercised by the Trustee with respect thereto shall be exercisable by such co-trustee co‑trustee or separate trustee but only to the extent necessary to enable such co-trustee co‑trustee or separate trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such co-trustee co‑trustee or separate trustee shall run to and be enforceable by either of them. (c) Should any deed, conveyance or instrument in writing from the Issuer be required by the co-trustee co‑trustee or separate trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. (d) In case any co-trustee co‑trustee or separate trustee shall die, become incapable of acting, resign or be removed, all the properties, rights, powers, trusts, duties and obligations of such co-trustee co‑trustee or separate trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a successor to such co-trustee co‑trustee or separate trustee.

Appears in 1 contract

Samples: Trust Indenture

TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (including particularly the StateState of Kansas) denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or the Lease, and in particular in case of the enforcement of either on default, 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 powers, rights or remedies herein granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co-trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee or separate trusteetrustee (which appointment shall be subject to the approval of the Corporation), each and every remedy, power, right, claim, demand, cause of action, immunity, title, interest and lien expressed or intended by this Indenture to be exercised by the Trustee with respect thereto shall be exercisable by such co-trustee or separate trustee but only to the extent necessary to enable such co-trustee or separate trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such co-trustee or separate trustee shall run to and be enforceable by either of them. (c) Should any deed, conveyance or instrument in writing from the Issuer City be required by the 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 such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the IssuerCity. (d) In case any co-trustee or separate trustee shall die, become incapable of acting, resign or be removed, all the properties, rights, powers, trusts, duties and obligations of such co-trustee or separate trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a successor to such co-trustee or separate trustee.

Appears in 1 contract

Samples: Trust Indenture (Pacific Sunwear of California Inc)

TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the purpose of this Indenture hereof that there shall be no violation of any law of any jurisdiction (including particularly 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 case of litigation under this Indenture or the Leasehereunder, and in particular in case of the enforcement occurrence of either on defaultan Event of Default, or in case it may be necessary that the Trustee deems that appoint an additional institution as a separate Trustee or Co- Trustee. The following provisions of this Section 1211 are adapted to these ends. Upon the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction it may not jurisdiction, to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co-trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed herein or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by such coand vest in a separate Trustee or Co-trustee or separate trustee Trustee appointed by the Trustee but only to the extent necessary to enable such cothe separate Trustee or Co-trustee or separate trustee Trustee to exercise such powersrights, rights powers and remediestrusts, and every covenant agreement and obligation necessary to the exercise thereof by such coseparate Trustee or Co-trustee or separate trustee Trustee shall run to and be enforceable by either of them. (c) . Should any deed, conveyance or instrument in writing from the Issuer be required by the coseparate Trustee or Co-trustee or separate trustee Trustee so appointed by the Trustee for in order to more fully and certainly vesting vest in and confirming confirm to him or it such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. (d) . In case any coseparate Trustee or Co-trustee Trustee, or separate trustee a successor to either, shall die, become became incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such coseparate Trustee or Co-trustee or separate trusteeTrustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Trustee or successor to such coseparate Trustee or Co-trustee Trustee. Any separate Trustee or separate trusteeCo-Trustee appointed pursuant to this Section 1211 shall be a trust company or bank in good standing having trust powers and having a reported capital, surplus and individual profits of not less than $50,000,000.

Appears in 1 contract

Samples: Loan and Trust Agreement (Lasalle Hotel Properties)

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TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (including particularly the Statelaws of the State of Georgia) denying or restricting the right of banking corporations or associations to transact business as a trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or the LeaseIndenture, and in particular in case of the enforcement of either on the Indenture or the Lease Agreement upon the occurrence of an event of default, it may be necessary that there be appointed an additional individual or in case institution as a separate Trustee or Co-Trustee. The following provisions of this Section 12.13 are adapted to these ends. In the Trustee deems that event of the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction it may not jurisdiction, to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, it the Issuer with the consent of the Lessee may be necessary or desirable that appoint, and at the request of the Trustee appoint an additional individual shall appoint, a separate Trustee or institution as a coCo-trustee or separate trustee, Trustee and the Trustee is hereby authorized to appoint such co-trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in such coseparate Trustee or Co-trustee or separate trustee Trustee but only to the extent necessary to enable such cothe separate Trustee or Co-trustee or separate trustee Trustee to exercise such powersrights, rights powers and remediestrusts, and every covenant and obligation necessary to the exercise thereof by such coseparate Trustee or Co-trustee or separate trustee Trustee shall run to and be enforceable by either of them. (c) . Should any deed, conveyance or instrument in writing from the Issuer be required by the coseparate Trustee or Co-trustee or separate trustee Trustee so appointed by the Trustee for in order to more fully and certainly vesting vest in and confirming confirm to him or it such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. (d) . In case any coseparate Trustee or Co-trustee Trustee or separate trustee a successor to either, shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such coseparate Trustee or Co-trustee or separate trusteeTrustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Trustee or successor to such coseparate Trustee or Co-trustee or separate trusteeTrustee.

Appears in 1 contract

Samples: Indenture of Trust (Tenaska Georgia Partners Lp)

TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the purpose of this Indenture hereof that there shall be no violation of any 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 case of litigation under this Indenture or the Lease, hereunder and in particular in case of the enforcement of either on defaultthis Indenture upon the occurrence of an Event of Default, or in case it may be necessary that the Trustee deems that and the Issuer enter into a supplemental indenture to appoint an additional individual or institution as a separate Trustee or Co-Trustee as permitted in Section 1301(e). The following provisions of this Section are adapted to these ends. Upon the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction it may not jurisdiction, to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co-trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by such coand vest in a separate Trustee or Co-trustee or separate trustee Trustee appointed by the Trustee but only to the extent necessary to enable such cothe separate Trustee or Co-trustee or separate trustee Trustee to exercise such powersrights, rights powers and remediestrusts, and every covenant agreement and obligation necessary to the exercise thereof by such coseparate Trustee or Co-trustee or separate trustee Trustee shall run to and be enforceable by either of them. (c) . Should any deed, conveyance or instrument in writing from the Issuer be required by the coseparate Trustee or Co-trustee or separate trustee Trustee so appointed by the Trustee for in order to more fully and certainly vesting vest in and confirming confirm to him or it such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. (d) . In case any coseparate Trustee or Co-trustee Trustee, or separate trustee a successor to either, shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers, trusts, duties and obligations of such coseparate Trustee or Co-trustee or separate trusteeTrustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Trustee or successor to such coseparate Trustee or Co-trustee or separate trusteeTrustee.

Appears in 1 contract

Samples: Trust Indenture (Sterigenics International)

TRUST ESTATE MAY BE VESTED IN CO-TRUSTEE. (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (including particularly 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 case of litigation under this Indenture Indenture, the Base Lease or the Lease, and in particular in case of the enforcement of either on 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 powers, rights or remedies herein granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co-trustee co‑trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee co‑trustee or separate trustee. (b) In the event that the Trustee appoints an additional individual or institution as a co-trustee co‑trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, title, interest and lien expressed or intended by this Indenture to be exercised by the Trustee with respect thereto shall be exercisable by such co-trustee co‑trustee or separate trustee but only to the extent necessary to enable such co-trustee co‑trustee or separate trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such co-trustee co‑trustee or separate trustee shall run to and be enforceable by either of them. (c) Should any deed, conveyance or instrument in writing from the Issuer be required by the co-trustee co‑trustee or separate trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, then any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. (d) In case any co-trustee co‑trustee or separate trustee shall die, become incapable of acting, resign or be removed, all the properties, rights, powers, trusts, duties and obligations of such co-trustee co‑trustee or separate trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a successor to such co-trustee co‑trustee or separate trustee.

Appears in 1 contract

Samples: Trust Indenture

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