Common use of Trustee may Require Indemnity from Securityholders Clause in Contracts

Trustee may Require Indemnity from Securityholders. The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred therein or thereby;

Appears in 4 contracts

Samples: Indenture for Subordinated Debt Securities (United States Cellular Corp), Indenture for Subordinated Debt Securities (Telephone & Data Systems Inc /De/), Indenture for Subordinated Debt Securities (Telephone & Data Systems Inc /De/)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!