Trustee’s Covenants. Trustee, by its acceptance hereof, covenants faithfully to perform and fulfill the trusts herein created, being liable, however, only for gross negligence or willful misconduct, and hereby waives any statutory fee and agrees to accept reasonable compensation, in lieu thereof, for any services rendered by it in accordance with the terms hereof.
Trustee’s Covenants. Without limiting any duty or obligation of the Trustee elsewhere in this Deed, the Trustee covenants with the Crown and the Collective (with the intent that the benefit of such covenant shall enure not only to the Crown and the Collective but to the Beneficiaries jointly and to each of them severally) that:
Trustee’s Covenants. The Trustee represents, covenants and agrees that:
Trustee’s Covenants. The Trustee agrees that it will invest funds held under this Indenture in accordance with the terms of this Indenture and the Tax Certificate (this covenant shall extend throughout the term of the Bonds, to all funds and accounts created under this Indenture and all moneys on deposit to the credit of any such fund or account). The Trustee covenants to and for the benefit of the Bondholders that, notwithstanding any other provisions of this Indenture or of any other instrument, it will not make or cause to be made any investment or other use of the moneys in the funds or accounts created hereunder which would cause the Bonds to be classified as “arbitrage bonds” within the meaning of Sections 103(b) and 148 of the Code or would cause the interest on the Bonds to be includable in gross income for federal income tax purposes; provided that the Trustee shall be deemed to have complied with such requirements and shall have no liability to the extent it reasonably follows the written directions of the Borrower, the Issuer or the Rebate Analyst. This covenant shall extend, throughout the term of the Bonds, to all funds created under this Indenture and all moneys on deposit to the credit of any such fund. Pursuant to this covenant, with respect to the investments of the funds and accounts under this Indenture, the Trustee obligates itself to comply throughout the term of the issue of the Bonds with the requirements of Sections 103(b) and 148 of the Code; provided that the Trustee shall be deemed to have complied with such requirements and shall have no liability to the extent it reasonably follows the written directions of the Borrower, the Issuer or the Rebate Analyst. The Trustee further covenants that should the Issuer or the Borrower file with the Trustee (it being understood that neither the Issuer nor the Borrower has an obligation to so file), or should the Trustee receive, an opinion of Bond Counsel to the effect that any proposed investment or other use of proceeds of the Bonds would cause the Bonds to become “arbitrage bonds,” then the Trustee will comply with any written instructions of the Borrower or Bond Counsel regarding such investment (which shall, in any event, be a Qualified Investment) or use so as to prevent the Bonds from becoming “arbitrage bonds,” and the Trustee will bear no liability to the Issuer, the Borrower, the Bondholders or the Credit Facility Provider for investments made in accordance with such instructions.
Trustee’s Covenants. 82 22.1 General...................................................... 82 22.2 To act continuously as Trustee............................... 82 22.3 To act honestly, diligently and prudently.................... 82 22.4 No dispositions of Assets except in accordance with Trust Deed......................................................... 83 22.5 Indemnity re acts of Trustee's delegates..................... 83 22.6 Forward notices etc to Trust Manager......................... 83 22.7 Trustee will implement Trust Manager's directions............ 83 22.8 Custodian.................................................... 83 22.9 Bank accounts................................................ 84 22.10
Trustee’s Covenants. SANKORE HEREBY UNDERTAKES NOT TO SECURE ANY OF ITS PRESENT OR FUTURE INDEBTEDNESS FOR BORROWED MONEY BY ANY LIEN, PLEDGE, CHARGE OR OTHER SECURITY INTEREST WITH THE TRUST ASSET.
Trustee’s Covenants. The Trustee covenants with the Lender that:
Trustee’s Covenants. The Trustee covenants with the Investor that:
Trustee’s Covenants. The Trustee hereby covenants with the Company to: deal with the Trust Fund in accordance with the Deed; manage and administer the Trust Fund in accordance with the Deed; subject always to the Trust Fund being sufficient for the purpose, to pay or provide for the payment of all charges commissions fees and benefits prescribed by this Deed; to comply always with the provisions of this Deed. The Trustee shall execute a transfer of interest in land form LR 33 with respect to the Property in favour of the Beneficiary and hereby authorizes the Beneficiary to complete, stamp and register the transfer in such manner as and when the Beneficiary may think fit.
Trustee’s Covenants
