Common use of Trustee Covenants Clause in Contracts

Trustee Covenants. (a) The Trustee covenants in favour of each other Party to fully comply with the terms of the Trust Deed and with its obligations under this deed. (b) Subject to clause 9.15, the Trustee covenants that it will ensure that each Liable Entity will continue to trade notwithstanding the occurrence of an Insolvency Event of that Liable Entity so long as the Transaction Legislation permits the Liable Entity to do so and no other law prohibits the Liable Entity from doing so. (c) The Trustee covenants in favour of the other Parties that it will comply with all Accepted Tax Conditions in respect of Taxation of the Trustee in relation to the Compensation Funds (including the Taxation of the income of the Compensation Funds).

Trustee Covenants. (a) The Trustee covenants in favour of each other Party to fully comply with the terms of the Trust Deed and with its obligations under this deed. (b) Subject to clause 9.15, the Trustee covenants that it will ensure that each Liable Entity will continue to trade notwithstanding the occurrence of an Insolvency Event of that Liable Entity so long as the Transaction Legislation permits the Liable Entity to do so and no other law prohibits the Liable Entity from doing so. (c) The Trustee covenants in favour of the other Parties that it will comply with all Accepted Tax Conditions conditions attaching to any exemption given, from time to time, under federal law which has been accepted by JHINV under clause 2.2(b) or clause 6.4 of this deed in respect of Taxation of the Trustee in relation to the Compensation Funds Fund (including the Taxation of the income of the Compensation FundsFund).