Powers Duties and Rights of Preferred Guarantee Trustee Sample Clauses

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 1 Powers and Duties of the Preferred Guarantee Trustee (a) This Preferred Securities Guarantee shall be held by the Preferred Guarantee Trustee for the benefit of the Holders of the Preferred Securities, and the Preferred Guarantee Trustee shall not transfer this Preferred Securities Guarantee to any Person except a Holder of Preferred Securities exercising his or her rights pursuant to Section 5.4(b) or to a Successor Preferred Guarantee Trustee on acceptance by such Successor Preferred Guarantee Trustee of its appointment to act as Successor Preferred Guarantee Trustee. The right, title and interest of the Preferred Guarantee Trustee shall automatically vest in any Successor Preferred Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Preferred Guarantee Trustee. (b) If an Event of Default actually known to a Responsible Officer of the Preferred Guarantee Trustee has occurred and is continuing, the Preferred Guarantee Trustee shall enforce this Preferred Securities Guarantee for the benefit of the Holders of the Preferred Securities. (c) The Preferred Guarantee Trustee, before the occurrence of any Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Preferred Securities Guarantee, and no implied covenants shall be read into this Preferred Securities Guarantee against the Preferred Guarantee Trustee. In case an Event of Default has occurred (that has not been cured or waived pursuant to Section 2.6) and is actually known to a Responsible Officer of the Preferred Guarantee Trustee, the Preferred Guarantee Trustee shall exercise such of the rights and powers vested in it by this Preferred Securities Guarantee, and use the same degree of care and skill in its exercise thereof, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. (d) No provision of this Preferred Securities Guarantee shall be construed to relieve the Preferred Guarantee Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: (i) prior to the occurrence of any Event of Default and after the curing or waiving of all such Events of Default that may have occurred: (A) the duties and obligations of the Pr...

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 3.1 Powers and Duties of the Preferred Guarantee Trustee.............................. 8 SECTION 3.2 Certain Rights of Preferred Guarantee Trustee........................................ 10 SECTION 3.3 Not Responsible for Recitals or Issuance of Preferred Securities Guarantee.............. 12 SECTION 3.4

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 3.1 Powers and Duties of the Preferred Guarantee Trustee . . . 7 SECTION 3.2

Powers Duties and Rights of Preferred Guarantee Trustee. 6 Section 3.1. Powers and Duties of Preferred Guarantee Trustee 6 Section 3.2. Certain Rights of Preferred Guarantee Trustee 7 Section 3.3. Not Responsible for Recitals or Issuance of Guarantee 9

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 3.1 Powers and Duties of the Preferred Guarantee Trustee . . . . . . . . . . . . . . . . . . . 7 SECTION 3.2 Certain Rights of Preferred Guarantee Trustee . . . . . . . . . . . . . . . . . . . . . . . 9 SECTION 3.3 Not Responsible for Recitals or Issuance of Guarantee . . . . . . . . . . . . . . . . . . . 11

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 3.1 Powers and Duties of the Preferred Guarantee Trustee (a) This Preferred Securities Guarantee shall be held by the Preferred Guarantee Trustee for the benefit of the Holders of the Preferred Securities, and the Preferred Guarantee Trustee shall not transfer this Preferred Securities Guarantee to any Person except a Holder of Preferred Securities exercising his or her rights pursuant to Section 5.4(b) or to a Successor Preferred Guarantee Trustee on acceptance by such Successor Preferred Guarantee Trustee of its appointment to act as Successor Preferred Guarantee Trustee. The right, title and interest of the Preferred Guarantee Trustee shall automatically vest in any Successor Preferred Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Preferred Guarantee Trustee. (b) If an Event of Default actually known to a Responsible Officer of the Preferred Guarantee Trustee has occurred and

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 3.1 Powers and Duties of the Preferred Guar- antex Xxxstee . . . . . . . . . . . . . . . . 8 SECTION 3.2 Certain Rights of Preferred Guarantee Trustee . . . . . . . . . . . . . . . . . . . 10 SECTION 3.3. Not Responsible for Recitals or Issuance of Preferred Securities Guarantee . . . .

Powers Duties and Rights of Preferred Guarantee Trustee. Powers and Duties of the Preferred Guarantee Trustee 7 SECTION 3.2. Certain Rights of Preferred Guarantee Trustee 9 SECTION 3.3. Not Responsible for Recitals or Issuance of Guarantee 11 ARTICLE IV. PREFERRED GUARANTEE TRUSTEE SECTION 4.1. Preferred Guarantee Trustee; Eligibility 11 SECTION 4.2. Appointment, Removal and Resignation of Preferred Guarantee Trustees 12 ARTICLE V. GUARANTEE SECTION 5.1. Guarantee 13 SECTION 5.2. Waiver of Notice and Demand 13 SECTION 5.3. Obligations Not Affected 13 SECTION 5.4. Rights of Holders 15 SECTION 5.5. Guarantee of Payment 15 SECTION 5.6. Subrogation 15 SECTION 5.7. Independent Obligations 15 ARTICLE VI. LIMITATION OF TRANSACTIONS; SUBORDINATION SECTION 6.1. Limitation of Transactions 16

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 3.1 Powers and Duties of the Preferred Guarantee Trustee (a) This Preferred Securities Guarantee shall be held by the Preferred Guarantee Trustee in trust for the benefit of the Holders, and the Preferred Guarantee Trustee shall not transfer its right, title and interest in this Preferred Securities Guarantee to any Person except a Holder exercising his or her rights pursuant to Section 5.4(d) or to a Successor Preferred Guarantee Trustee on acceptance by such Successor Preferred Guarantee Trustee of its appointment to act as Successor Preferred Guarantee Trustee. The right, title and interest of the

Powers Duties and Rights of Preferred Guarantee Trustee. SECTION 3.1. Powers and Duties of the Preferred Guarantee Trustee . . . . . . . . . . . . . . . . . . . . . . 6 SECTION 3.2.