Common use of Trustee to Give Notice of Default, But May Withhold in Certain Circumstances Clause in Contracts

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 days after the occurrence of a Default with respect to the Notes, give notice of all Defaults known to the Trustee to all Holders of Notes in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939, unless in each case such Defaults shall have been cured before the mailing of such notice; provided that, except in the case of default in the payment of the principal of or interest on any of the Notes, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

Appears in 3 contracts

Samples: Indenture (Boardwalk Pipeline Partners, LP), Indenture (Boardwalk Pipeline Partners, LP), Indenture (Boardwalk Pipeline Partners, LP)

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Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 Within ninety (90) days after a Responsible Officer of the Trustee obtains actual knowledge of the occurrence of a any Default with respect to the Noteshereunder, give notice of all Defaults known to the Trustee shall transmit by mail to all Holders of Notes as their names shall appear on the Register, in the manner and to the extent provided in § 313(c) of the Trust Indenture Act Section 313(c), notice of 1939such Default hereunder, unless in each case such Defaults Default shall have been cured before the mailing of such noticeor waived; provided provided, however, that, except in the case of default a Default in the payment of the principal of of, or interest or Additional Amounts, if any, on any of the NotesSecurity, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, committee or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines determine that the withholding of such notice is in the interests interest of the Holders.

Appears in 2 contracts

Samples: Indenture (Telefonica of Argentina Inc), Telefonica of Argentina Inc

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shallshall transmit to the Noteholders, as the names and addresses of such Holders appear on the Note register, notice by mail of all Defaults which have occurred, such notice to be transmitted within 90 days after the occurrence of a Default with respect to the Notes, give notice of all Defaults known to the Trustee to all Holders of Notes in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939thereof, unless in each case such Defaults defaults shall have been cured before the mailing giving of such notice; provided that, except in the case of default Default in the payment of the principal of of, interest on, or interest on other similar obligation with respect to, any of the Notes, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the best interests of the HoldersNoteholders.

Appears in 2 contracts

Samples: Indenture (Vector Group LTD), Indenture (Finisar Corp)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shallshall transmit to the Holders, as the names and addresses of such Holders appear on the Note register, notice by mail of all Defaults which have occurred, such notice to be transmitted within 90 days after the occurrence of a Default with respect to the Notes, give notice of all Defaults known to the Trustee to all Holders of Notes in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939thereof, unless in each case such Defaults defaults shall have been cured before the mailing giving of such notice; provided that, except in the case of default Default in the payment of the principal of of, interest on, or interest on other similar obligation with respect to, any of the Notes, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the best interests of the Holders.

Appears in 1 contract

Samples: Indenture (Osi Pharmaceuticals Inc)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shallshall transmit to the Securityholders, as the names and addresses of such Holders appear on the Security register, notice by mail of all Defaults which have occurred, such notice to be transmitted within 90 days after the occurrence of a Default with respect to the Notes, give notice of all Defaults known to the Trustee to all Holders of Notes in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939thereof, unless in each case such Defaults defaults shall have been cured before the mailing giving of such noticesuch; provided that, except in the case of default Default in the payment of the principal of of, interest on, or interest on other similar obligation with respect to, any of the NotesSecurities, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the HoldersSecurityholders.

Appears in 1 contract

Samples: Omnicom Group Inc

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Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 days after the occurrence of a Default with respect to the Notes, give notice of all Defaults known to the Trustee to all Holders of Notes in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939, unless in each case such Defaults shall have been cured before the mailing of such notice; provided that, except in the case of default in the payment of the principal of or interest on any of the Notes, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

Appears in 1 contract

Samples: Indenture (Boardwalk Pipeline Partners, LP)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shallshall transmit to the Noteholders, as the names and addresses of such Holders appear on the Note register, notice by mail of all Defaults which have occurred and of which a Responsible Officer has actual knowledge, such notice to be transmitted within 90 days after the occurrence of a Default with respect to the Notes, give notice of all Defaults known to the Trustee to all Holders of Notes in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939thereof, unless in each case such Defaults shall have been cured before the mailing giving of such notice; provided that, except in the case of default Default in the payment of the principal of of, interest on, or interest on other similar obligation with respect to, any of the Notes, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the best interests of the HoldersNoteholders.

Appears in 1 contract

Samples: Gillette Co

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shallshall transmit to the Holders, as the names and addresses of such Holders appear on the Note register, notice by mail of all Defaults which have occurred, such notice to be transmitted within 90 days after the occurrence of a Default with respect to the Notes, give notice of all Defaults known to the Trustee to all Holders of Notes in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939thereof, unless in each case such Defaults defaults shall have been cured before the mailing giving of such notice; provided that, except in the case of default Default in the payment of the principal of of, interest on, or interest on other similar obligation with respect to, any of the Notes, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the best interests of the Holders.

Appears in 1 contract

Samples: Indenture (Veeco Instruments Inc)

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