Trustee Obligations. Whenever the Trustee, as a party to the Swap Agreement, has the option or is requested in such capacity, whether such request is by the counterparty to such agreement, to take any action or to give any consent, approval or waiver that it is entitled to take or give in such capacity, including, without limitation, in connection with an amendment of such agreement or the occurrence of a default or termination event thereunder, the Trustee shall promptly notify the parties hereto and the NIMS Insurer of such request in such detail as is available to it and, shall, on behalf of the parties hereto and the NIMS Insurer, take such action in connection with the exercise and/or enforcement of any rights and/or remedies available to it in such capacity with respect to such request as the NIMS Insurer shall direct in writing; provided that if no such direction is received prior to the date that is established for taking such action or giving such consent, approval or waiver (notice of which date shall be given by the Trustee to the parties hereto and the NIMS Insurer), the Trustee may abstain from taking such action or giving such consent, approval or waiver. The Trustee shall forward to the parties hereto and the NIMS Insurer on the Payment Date following its receipt thereof copies of any and all notices, statements, reports and/or other material communications and information (collectively, the “Swap Reports”) that it receives in connection with the Swap Agreement or from the counterparty thereto.
Trustee Obligations. Except for matters set forth in Sections 3(a), (b) and (f) hereof and Section 6.12 of the Trust Agreement, the parties hereto agree that the Trustee shall have no further obligations hereunder or under the Trust Agreement relating to the matters set forth in this letter. XXXXXX, XXXXXX & XXXXXXXXX, P.A. SCHOOL BOARD OF ST. LUCIE COUNTY, FLORIDA ST. LUCIE SCHOOL BOARD LEASING CORPORATION U.S. BANK NATIONAL ASSOCIATION,
Trustee Obligations. Except for matters set forth in Sections 3(a), (b) and XXXXXX, XXXXXX & XXXXXXXXX, P.A. SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA XXXXX FARGO BANK, NATIONAL ASSOCIATION, as Trustee FINANCING CORPORATION FOR THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA
Trustee Obligations. Subject to the provisions of the last paragraph of Section 1003 of the Original Indenture, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 6.07 hereof, the Trustee and any such other trustee are referred to collectively as the "Trustee") pursuant to Section 6.04 hereof in respect of any IQ Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such IQ Notes and the Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such IQ Notes, of all sums due and to become due thereon in respect of principal and interest, but money so held in trust need not be segregated from other funds except to the extent required by law. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 6.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of Outstanding IQ Notes. Anything in this Article Six to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 6.04 hereof with respect to any IQ Notes which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to such IQ Notes.
Trustee Obligations. If you enter into this Master Agreement as a trustee of the Trust you undertake:
(a) that, subject to the Trust Deed and any mandatory provisions of any insolvency or other laws, all obligations or payments payable by you under this Master Agreement, any Transaction or any Guarantee shall be paid out to us prior to any distribution or other moneys of whatever nature payable to members or beneficiaries upon the winding up, termination or expiry of the Trust;
(b) in your capacity as trustee of the Trust and in your own right:
(i) to promptly exercise each right of indemnity you have in relation to the Trust and the assets of the Trust and the beneficiaries in respect of obligations incurred under this Master Agreement, any Transaction or any Guarantee; and
(ii) not to do anything, without our consent, which restricts any such right of indemnity or impairs your ability to perform your obligations under this Master Agreement, any Transaction or any Guarantee;
(iii) that you will not be a party to and will oppose a re-settlement, transfer or disposition to any other person of the property of the Trust (other than in accordance with the Trust Deed);
(iv) to ensure that, at the time each Transaction is entered into, you will identify that the Transaction is entered into by you as trustee of the Trust; and
(v) to notify us in writing as soon as practicable after any of the following events:
(A) you become aware of the occurrence of any circumstances which would give rise to the Trust ceasing to be solvent or to the termination or winding up of the Trust;
(B) if (without our consent) you cease to be the sole trustee of the Trust, or any event occurs or notice is given, which with the passing of time would result in you ceasing to be the sole trustee of the Trust or any other change in the identity of the trustee of the Trust;
(C) if there is (without our consent) any alteration to or cancellation or repeal of the Trust Deed; or
(D) if there is a breach by you of the Trust Deed,
(c) in each case if the event would, or might reasonably be expected to, have a material adverse effect on our ability to enforce our rights under this Master Agreement, any Transaction or any Guarantee.
Trustee Obligations. To enable CAS to perform its obligations under this Agreement, Trustee agrees to the following:
Trustee Obligations. Each member of the Board of Trustees shall have a non‐ delegable obligation to, at all times, act in good faith and promote the best interests of the Plan while engaged in activities that may impact the Plan.
Trustee Obligations. Except for matters set forth in Sections 3(a), (b) and XXXXXX, XXXXXX & XXXXXXXXX, P.A. THE SCHOOL BOARD OF ST. LUCIE COUNTY, FLORIDA ST. LUCIE SCHOOL BOARD LEASING CORPORATION U.S. BANK NATIONAL ASSOCIATION,
Trustee Obligations. The Trustee shall have no obligation to determine the existence of any conversion, redemption, exchange, subscription or other right relating to any securities the Trustee is directed to purchase for the Trust of which notice was given prior to the purchase of such securities. Nor shall the Trustee have any obligation to exercise such right unless it is informed of the existence of the right and is instructed, in writing and within a reasonable time prior to the expiration of such right, by the Plan Administrator or an investment manager to exercise such right.
Trustee Obligations. 13.1. Unless you have told us otherwise, you do not enter into this agreement as trustee of any trust or settlement. If you do enter into this agreement as a trustee with our knowledge, you confirm that:
(a) everything necessary to entitle you to be indemnified out of the trust fund in respect of your obligations under this agreement has been and will continue to be done; and
(b) the persons who have signed this agreement as trustees are all of the trustees of the trust; and
(c) you have given us a complete and up-to-date copy of the relevant trust deed; and
(d) you will do everything necessary to bind yourself and your successors as trustee under this agreement and to comply with your obligations as trustee; and
(e) you will not without our consent retire, cease to act or be removed as trustee, or allow the trust to be terminated, the trust deed to be changed or the trust fund to be mixed with other property.
