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 of any series, give notice of all Defaults with respect to that series known to the Trustee (i) if any Notes of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.8, at least once in an Authorized Newspaper in Luxembourg) and (ii) to all Holders of Notes of such series 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 or publication 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 of such series, or in the payment of any sinking fund installment on such series, 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 of such series.

Appears in 2 contracts

Samples: Indenture (TGT Pipeline LLC), TGT Pipeline LLC

AutoNDA by SimpleDocs

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 ninety days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that series known to the Trustee (i1) if any Notes Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.83.10, at least once in an Authorized Newspaper in Luxembourg) and (ii2) to all Holders of Notes Securities of such series in the manner and to the extent provided in § Section 313(c) of the Trust Indenture Act of 1939, unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "defaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided PROVIDED that, except in the case of default in the payment of the principal of or interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment on such series, 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 Securityholders of such series.

Appears in 1 contract

Samples: Indenture (Nationwide Financial Services Inc/)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 ninety days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that series known to the Trustee (i1) if any Notes Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.83.9, at least once in an Authorized Newspaper in Luxembourg) and (ii2) to all Holders of Notes Securities of such series in the manner and to the extent provided in § Section 313(c) of the Trust Indenture Act of 1939, unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "defaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided PROVIDED that, except in the case of default in the payment of the principal of or interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment on such series, 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 Securityholders of such series.

Appears in 1 contract

Samples: Indenture (Nationwide Financial Services Inc/)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 ninety days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that series known to the Trustee (i) if any Notes Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.83.9, at least once in an Authorized Newspaper in Luxembourg) and (ii) to all Holders of Notes Securities of such series in the manner and to the extent provided in § Section 313(c) of the Trust Indenture Act of 1939Act, unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "default" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided provided, that, except in the case of default in the payment of the principal of or interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment on such series, the Trustee shall be protected in withholding with- holding 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 Securityholders of such series.

Appears in 1 contract

Samples: McKesson Financing Trust Iv

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that series known to the Trustee (i) i if any Notes Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York York, and at least once in an Authorized Newspaper in London (and, if required by Section 3.83.7, at least once in an Authorized Newspaper in Luxembourg) Luxembourg and (ii) ii to all Holders of Notes Securities of such series in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939, herein unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "defaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default; provided that, except in the case of default in the payment of the principal of or interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment on such series, 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 Securityholders of such series.

Appears in 1 contract

Samples: Indenture (Tenneco Packaging Inc)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that such series known to the Trustee (i) if any Notes Unregistered Securities of that such series are then Outstanding, to the Holders thereof, thereof by publication at least once in an each Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.8, at least once in an Authorized Newspaper in Luxembourg) with respect to such series and (ii) to all Holders of Notes Securities of such series in the manner and to the extent provided in § 313(c) of the Trust Indenture Act of 1939Section 4.4(c), unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "default" for the purpose of this Article being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or the interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment or analogous payment on such series, 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 that the withholding of such notice is in the interests of the Holders Securityholders of such series.

Appears in 1 contract

Samples: Indenture (United States Cellular Corp)

AutoNDA by SimpleDocs

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 ninety days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that series known to the Trustee (ia) if any Notes Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.83.06, at least once in an Authorized Newspaper in Luxembourg) and (iib) by mail to all Holders of Notes Registered Securities of such series in the manner and to such other Holders of Securities as have, within two years preceding such transmission, filed their names and addresses with the extent provided in § 313(c) of the Trust Indenture Act of 1939Trustee for that purpose, unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "DEFAULTS" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment instalment on such series, 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 Securityholders of such series.

Appears in 1 contract

Samples: MSDW Capital Trust V

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 ninety days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that series known to the Trustee (i) if any Notes Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.83.7, at least once in an Authorized Newspaper in Luxembourg) and (ii) to all Holders of Notes Securities of such series in the manner and to the extent provided in § Section 313(c) of the Trust Indenture Act of 1939Act, unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "default" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided provided, that, except in the case of default in the payment of the principal of or interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment on such series, 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 Securityholders of such series.

Appears in 1 contract

Samples: Indenture (McKesson Corp)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within 90 days after the occurrence of a Default default with respect to the Notes Securities of any series, give notice of all Defaults defaults with respect to that series known to the Trustee (i) if any Notes Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.8, at least once in an Authorized Newspaper in Luxembourg) and (ii) to all Holders of Notes Securities of such series in the manner and to the extent provided in § Section 313(c) of the Trust Indenture Act of 1939, unless in each case such Defaults defaults shall have been cured before the mailing or publication of such noticenotice (the term "defaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or interest on any of the Notes Securities of such series, or in the payment of any sinking fund installment on such series, 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 of such series.be

Appears in 1 contract

Samples: Texas Gas Transmission Corp

Time is Money Join Law Insider Premium to draft better contracts faster.