Common use of When Treasury Securities Disregarded Clause in Contracts

When Treasury Securities Disregarded. In determining whether the Holders of the required aggregate principal amount of outstanding Securities of any series have given any request, demand, authorization, direction, notice, consent or waiver or taken any other action hereunder, Securities of such series owned by the Company or by any Affiliate of the Company shall be disregarded and deemed not to be outstanding, except that for the purpose of determining whether the Trustee shall be protected in relying on such request, demand, authorization, direction, notice, consent, waiver or action, only Securities of such series which the Trustee actually knows are so owned shall be so disregarded. Securities so owned that have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right to so act with respect to such Securities and that the pledgee is not the Company or any Affiliate of the Company. Section 11.07.

When Treasury Securities Disregarded. In determining whether the Holders of the required aggregate principal amount of outstanding Securities of any series have given any request, demand, authorization, direction, notice, consent or waiver or taken any other action hereunder, Securities of such series owned by the Company or by any Affiliate of the Company shall be disregarded and deemed not to be outstanding, except that for the purpose of determining whether the Trustee shall be protected in relying on such request, demand, authorization, direction, notice, consent, waiver or action, only Securities of such series which the Trustee actually knows are so owned shall be so disregarded. Securities so owned that have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right to so act with respect to such Securities and that the pledgee is not the Company or any Affiliate of the Company. Section 11.07.