Trustee Protection Sample Clauses

Trustee Protection. The Trustee shall have no obligation hereunder except to receive the contributions of Trust Shares or funds referred to herein and to make transfers or distributions of said Trust Shares and funds in accordance with the provisions hereof. The Trustee shall be protected and held harmless in acting upon any written notice, certificate, waiver, consent or other instrument or document which he believes to be genuine. The Trustee shall not be liable for any error of judgment or for any act or omission other than his own gross negligence or willful misconduct. In no event shall the Trustee be required to account for any funds or securities subsequent to the distribution thereof in accordance with this Agreement. The Trustee's duties shall be determined only with reference to this Agreement and applicable laws. The Trustee is not charged with knowledge of or any duties or responsibilities in connection with any other document or agreement. The Grantor and the Beneficiary represents and warrants to the Trustee that each of them has the full and complete power to transfer the Trust Shares in trust to the Trustee, that there are no claims or encumbrances on any of the Trust Shares and that none of them shall have any claim against the Trustee pertaining to the appropriateness or the prudence of any manner of holding or in vesting any securities or funds under this agreement. Beneficiary understands that (i) The Trustee is acting solely as Trustee pursuant to the terms of this Agreement, (ii) the Trust Shares will be received and held in trust by the Trustee for the benefit of the Beneficiary, to be used for those purposes set forth in this Agreement and (iii) no Beneficiary may construe the contents of any oral or written communication with the Trustee or the Grantor as legal, tax or investment advice. The Grantor and the Beneficiary shall indemnify and hold harmless the Trustee from and against all loss, liability, claim or expense to which the Trustee may become subject, including reasonable attorneys fees, arising out of or connected with the performance by the Trustee of the duties set forth In this Agreement, except for claims arising from the Trustee's failure to abide by the terms of this Agreement.
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Trustee Protection. 10.1 The Corporation shall indemnify and hold harmless the Trustee for any action, or failure to take action, in reliance in good faith upon any notice, certification, instruction, direction or approval of the Corporation.
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Trustee Protection. 2.7.1 No Trustee (nor any director or officer of a corporate Trustee) shall be liable for any loss to the trust fund however arising except as a result of the fraud or dishonesty of such Trustee (or director or officer) or in the case of a professional trustee entitled to charge for its or his or her services as a trustee for the negligence of such Trustee or breach of trust by such Trustee.
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Trustee Protection. The Trustee shall have no obligation hereunder except to receive the contributions of Trust Shares or funds referred to herein and to make transfers or distributions of said Trust Shares and funds in accordance with the provisions
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Trustee Protection. As an inducement to Trustee to carry out and complete the actions contemplated by or incidental to this Agreement, Gasco, its successors and assigns shall save, indemnify and hold Trustee his heirs, successors and assigns harmless from any and all obligations, losses, penalties, actions, damages, liabilities, claims, suits, costs and expenses, of whatsoever kind and nature, imposed on, incurred by or asserted against such Trustee in any way arising out of or relating to the administration of the Trust, the termination of the Trust or the distribution of the Trust Estate or on account of Gasco's, Pannonian's or Trustee's failure to perform the obligations or observe the terms, conditions and other provisions of this Agreement; provided, however, the foregoing shall not apply in the event of gross negligence or willful misconduct on the Trustee. The obligations contained in this paragraph shall continue in full force and effect notwithstanding the expiration or other termination of this Agreement.
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Related to Trustee Protection

  • Trustee Protected In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely affects its rights.

  • MORTGAGEE PROTECTION Tenant agrees to give any Mortgagee or ground lessor, by registered or certified mail, a copy of any notice of default served upon the Landlord by Tenant, provided that prior to such notice Tenant has received notice (by way of service on Tenant of a copy of an assignment of rents and leases, or otherwise) of the address of such Mortgagee or ground lessor. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then the Mortgagee or ground lessor shall have an additional thirty (30) days after receipt of notice thereof within which to cure such default or if such default cannot be cured within that time, then such additional notice time as may be necessary, if, within such thirty (30) days, any Mortgagee or ground lessor has commenced and is diligently pursuing the remedies necessary to cure such default (including commencement of foreclosure proceedings or other proceedings to acquire possession of the Real Property, if necessary to effect such cure). Such period of time shall be extended by any period within which such Mortgagee or ground lessor is prevented from commencing or pursuing such foreclosure proceedings or other proceedings to acquire possession of the Real Property by reason of Landlord’s bankruptcy. Until the time allowed as aforesaid for Mortgagee or ground lessor to cure such defaults has expired without cure, Tenant shall have no right to, and shall not, terminate this Lease on account of default. This Lease may not be modified or amended so as to reduce the Rent or shorten the Term, or so as to adversely affect in any other respect to any material extent the rights of the Landlord, nor shall this Lease be canceled or surrendered, without the prior written consent, in each instance, of the ground lessor or the Mortgagee.

  • Trustee Provisions If the Lessee has entered into this Lease in the capacity of trustee, whether or not the Lessor has any notice of the trust, the Lessee:

  • Mortgage Protection Lessee agrees to give any mortgages and/or trust deed holders, as to all or a potion of the Premises, by registered mail, a copy of any notice of default served upon Lessor, provided that prior to such notice Lessee has been notified in writing (by way of notice or assignment of rents and leases, or otherwise) of the addresses of such mortgages and/or trust deed holders. Lessee agrees not to exercise any remedies available by virtue of a default unless Lessor shall have failed to cure such default within thirty (30) days after receipt of notice of default or such additional time as may be reasonably necessary to cure the default in the case of a default incapable of being cured within thirty (30) days. Lessee further agrees that the mortgages and/or trust deed holder shall have an additional thirty (30) days within which to cure such default, or if such default cannot be cured within that time, then such additional time as may be necessary if within such thirty (30) days any mortgagee and/or trust deed holder has commenced and is diligently pursuing the remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings if necessary to effect such cure), in which event such right, if any, as Lessee might otherwise have to terminate the Lease shall not be exercised while such remedies are being so diligently pursued.

  • Fire Protection Contractor shall take adequate and reasonable precautions to protect the Work against damage by fire and smoke. For example, without limitation, Contractor shall do the following:

  • Mortgagee Protection Clause Lessee agrees to notify any mortgagee and/or trust deed holders, by registered mail, with a copy of any notice of default served upon the Lessor, provided that prior to such notice Lessee has been notified in writing (by way of Notice of Assignment of Rents and Lease, or otherwise) of the addresses of such mortgagees and/or trust deed holders. Lessee further agrees that if Lessor shall have failed to cure such default, then the mortgagees and/or trust deed holders have thirty (30) days within which to cure such default or if such default cannot be cured within that time, then such additional times as may be necessary if within such thirty (30) days any mortgagee and/or trust deed holder has commenced and is diligently pursuing the remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings if necessary to affect such cure), in which event this Lease shall not be terminated if such remedies are being so diligently pursued.

  • Lien Protection Lessee shall pay when due all claims for labor or materials furnished or alleged to have been furnished to or for Lessee at or for use on the Premises, which claims are or may be secured by any mechanic's or materialmen's lien against the Premises or any interest therein. Lessee shall give Lessor not less than ten (10) days' notice prior to the commencement of any work in, on, or about the Premises, and Lessor shall have the right to post notices of non-responsibility in or on the Premises as provided by law. If Lessee shall, in good faith, contest the validity of any such lien, claim or demand, then Lessee shall, at its sole expense, defend and protect itself, Lessor and the Premises against the same and shall pay and satisfy any such adverse judgment that may be rendered thereon before the enforcement thereof against the Lessor or the Premises. If Lessor shall require, Lessee shall furnish to Lessor a surety bond satisfactory to Lessor in an amount equal to one and one-half times the amount of such contested lien claim or demand, indemnifying Lessor against liability for the same, as required by law for the holding of the Premises free from the effect of such lien or claim. In addition, Lessor may require Lessee to pay Lessor's attorneys' fees and costs in participating in such action if Lessor shall decide it is to its best interest to do so.

  • Further Protection The Pledgor will promptly give notice to the Secured Party of, and defend against, any suit, action, proceeding or lien that involves Posted Credit Support Transferred by the Pledgor or that could adversely affect the security interest and lien granted by it under Paragraph 2, unless that suit, action, proceeding or lien results from the exercise of the Secured Party’s rights under Paragraph 6(c).

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