Common use of Trustee Entitled to Assume Clause in Contracts

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article Ten. Regardless of anything to the contrary contained in this Article Ten or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer shall have received notice in writing from the Company, or from a holder of Senior Indebtedness or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) that no such facts exist.

Appears in 1 contract

Samples: Sickinger Co

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Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article Ten. Regardless of anything to the contrary contained in this Article Ten or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the Company, or from a holder of Senior Indebtedness or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) that no such facts exist.. 108 -100-

Appears in 1 contract

Samples: Safety Components Fabric Technologies Inc

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article TenThirteen. Regardless of anything to the contrary contained in this Article Ten Thirteen or elsewhere in this Indenture, the . The Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Guarantor Senior Indebtedness Debt or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the CompanyCompany or the Guarantor, or from a holder of Guarantor Senior Indebtedness Debt or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Guarantor Senior Indebtedness Debt or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the 146 - 138 - absence of actual knowledge to the contrary) that no such facts exist.

Appears in 1 contract

Samples: Kci New Technologies Inc

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article Ten. Regardless of anything to the contrary contained in this Article Ten or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness Debt or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the Company, or from a holder of Senior Indebtedness Debt or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness Debt or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) conclusively that no such facts exist.

Appears in 1 contract

Samples: Young America Holdings Inc

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article Ten. Regardless of anything to the contrary contained in this Article Ten or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness Debt or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the Company, or from a holder of Senior Indebtedness Debt or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness Debt or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) that no such facts exist.

Appears in 1 contract

Samples: Kci New Technologies Inc

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes Securities pursuant to the provisions of this Article Ten11. Regardless of anything to the contrary contained in this Article Ten 11 or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the Company, or from a holder of Senior Indebtedness or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) that no such facts exist.

Appears in 1 contract

Samples: Execution Version (LNR Property Corp)

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article Ten. Regardless of anything to the contrary contained in this Article Ten or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness Debt or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the Company, or from a holder of Senior Indebtedness Debt or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness Debt or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) that no such facts exist. Nothing contained in this Section 10.06 shall limit the right of the holders of Senior Debt to recover payments as contemplated by this Article Ten.

Appears in 1 contract

Samples: Philipp Brothers Chemicals Inc

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Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article TenIX. Regardless of anything to the contrary contained in this Article Ten IX or elsewhere in this Supplemental Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the Company, or from a holder of Senior Indebtedness or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) that no such facts exist.

Appears in 1 contract

Samples: Indenture (LNR Property Corp)

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. ----------------------------------- The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article Ten. Regardless of anything to the contrary contained in this Article Ten or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness Debt or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer the Trustee shall have received notice in writing from the Company, or from a holder of Senior Indebtedness Debt or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness Debt or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) conclusively that no such facts exist.

Appears in 1 contract

Samples: T Sf Communications Corp

Trustee Entitled to Assume. Payments Not Prohibited in Absence of Notice. The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article Ten. Regardless of anything to the contrary contained in this Article Ten or elsewhere in this Indenture, the Trustee shall not be charged with knowledge of the existence of any default or event of default with respect to any Senior Indebtedness or of any other facts which would prohibit the making of any payment to or by the Trustee unless and until a Trust Officer shall have received notice in writing from the Company, 89 or from a holder of Senior Indebtedness or a Representative therefor, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority of such Representative, and, prior to the receipt of any such written notice, the Trustee shall be entitled to assume (in the absence of actual knowledge to the contrary) that no such facts exist.

Appears in 1 contract

Samples: 3003969 Nova Scotia LTD

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