Common use of Trustee Not Charged with Knowledge of Prohibition Clause in Contracts

Trustee Not Charged with Knowledge of Prohibition. Notwithstanding the provisions of this Article or any other provision of this Indenture, but subject as between the Trustee and the Holders to the provisions of Section 6.01, the Trustee shall not be charged with knowledge of the existence of any Senior Indebtedness, or of any default in the payment of any Senior Indebtedness, or of any facts which would prohibit the making of any payment of moneys to or by the Trustee, unless and until three Business Days after the Trustee shall have received written notice thereof from the Company or any holder of Senior Indebtedness or the representative or representatives of such holder, and the Trustee may conclusively rely on any writing purporting to be from a holder of Senior Indebtedness, or a representative of such holder, as being genuine; nor shall the Trustee be charged with knowledge of the curing of any such default or of the elimination of the act or condition preventing any such payment unless and until the Trustee shall have received an Officers' Certificate to such effect. The provisions of this Section shall not limit any rights of holders of Senior Indebtedness under this Article XIII to recover from the Holders of Debentures any payment made to any such Holder.

Appears in 2 contracts

Samples: Indenture (Systems & Computer Technology Corp), Alpha Technologies Group Inc

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Trustee Not Charged with Knowledge of Prohibition. 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 Securities. Notwithstanding the provisions of this Article or any other provision of this Indenture, but subject as between the Trustee and the Holders to the provisions of Section 6.01, the Trustee shall not be charged with knowledge of the existence of any Senior IndebtednessDebt Obligations, or of any default in the payment of any Senior IndebtednessDebt Obligations, or of any facts which would prohibit the making of any payment of moneys to or by the Trustee, unless and until three Business Days after the Trustee shall have received written notice thereof from the Company or any holder of Senior Indebtedness Debt Obligations or the representative or representatives of such holder, and the Trustee may conclusively rely on any writing purporting to be from a holder of Senior IndebtednessDebt Obligations, or a representative of such holder, as being genuine; nor shall the Trustee be charged with knowledge of the curing of any such default or of the elimination of the act or condition preventing any such payment unless and until the Trustee shall have received an Officers' Certificate to such effect. The provisions of this Section shall not limit any rights of holders of Senior Indebtedness Debt Obligations under this Article XIII to recover from the Holders of Debentures Securities any payment made to any such Holder.

Appears in 1 contract

Samples: Loral Space & Communications LTD

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Trustee Not Charged with Knowledge of Prohibition. Notwithstanding the provisions of this Article or any other provision of this Indenture, but subject as between the Trustee and the Holders to the provisions of Section 6.016.1, the Trustee shall not be charged with knowledge of the existence of any Senior Indebtedness, or of any default in the payment of any Senior Indebtedness, or of any facts which would prohibit the making of any payment of moneys to or by the Trustee, unless and until three Business Days after the Trustee shall have received written notice thereof from the Company or any holder of Senior Indebtedness or the representative or representatives of such holder, and the Trustee may conclusively rely on any writing purporting to be from a holder of Senior Indebtedness, or a representative of such holder, as being genuine; nor shall the Trustee be charged with knowledge of the curing of any such default or of the elimination of the act or condition preventing presenting any such payment unless and until the Trustee shall have received an Officers' Certificate to such effect. The provisions of this Section shall not limit any rights of holders of Senior Indebtedness under this Article XIII to recover from the Holders of Debentures Notes any payment made to any such Holder.

Appears in 1 contract

Samples: Robbins & Myers Inc

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