TRUSTEE'S APPLICATION FOR INSTRUCTIONS FROM THE PARTNERSHIP. Any application by the Trustee for written instructions from the Partnership may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three business days after the date any officer of the General Partner actually receives such application, unless such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted.
Appears in 4 contracts
Samples: Indenture (Valero L P), Kaneb Pipe Line Operating Partnership Lp, Kaneb Pipe Line Operating Partnership Lp
