Examples of Deed Trustee in a sentence
If an Event of Default shall occur and be continuing, Lender may notify the Trust Deed Trustee in connection with the assertion of Trust Deed remedies, and Lender may effectuate control of all of Borrower’s funds in its possession, in Lender’s reasonable discretion.
Borrowers will act in a commercially reasonable manner in coordinating with the Trust Deed Trustee and Lender in connection with the closing of sales of Trust Properties and remittance to Lender of Mandatory Repayment Amounts.
For greater certainty, the entering into of this Agreement does not fulfill the condition precedent, required under Section 5.4 of the Bank Credit Agreement to any of the Subordinated Obligations being secured by any Lien, that the Company, the Trustee and the Deed Trustee enter into a subordination and postponement agreement in form and content satisfactory to the Agent and the Majority Lenders (as defined in the Bank Credit Agreement).
Deed Trustee shall be under no duty to take any action hereunder except as expressly required hereunder or by law, or to perform any act which would involve Deed Trustee in any expense or liability or to institute or defend any suit in respect hereof, unless properly indemnified to Deed Trustee's reasonable satisfaction.
The Trustee agrees that it will immediately upon receipt by it of a notice of Default under this Indenture, or the cure or waiver of such Default, immediately give notice of same to the Deed Trustee.
Such substitute trustee shall not be required to give bond for the faithful performance of the duties of Deed Trustee hereunder unless required by Beneficiary.
Over and above the aforesaid Terms and Conditions, the said Debentures shall be subject to the Terms and Conditions to be incorpo rated in the Debenture Trust Deed/ Trustee Agreement .
Note Trust Deed Trustee to any person under or in connection with this deed can only be enforced against the Note Trustee to the extent to which they can be satisfied out of such moneys in accordance with this deed.
In the event of the death, removal, resignation, refusal to act, or inability to act of Deed Trustee, or in its sole discretion for any reason whatsoever Beneficiary may, without notice and without specifying any reasons therefor and without applying to any court, select and appoint a successor trustee, by an instrument recorded wherever this Deed of Trust is recorded, and all powers, rights, duties and authority of Deed Trustee, as aforesaid, shall thereupon become vested in such successor.
Beneficiary or Deed Trustee may terminate or rescind any proceeding or other action brought in connection with its exercise of the remedies provided in Section 13.02 at any time before the conclusion thereof, as determined in Beneficiary's sole discretion and without prejudice to Beneficiary or Deed Trustee.