Examples of Preferred Guaranty in a sentence
The Preferred Guaranty Trustee makes no representation as to the validity or sufficiency of this Preferred Securities Guaranty.
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 Guaranty Trustee, the Preferred Guaranty Trustee shall exercise such of the rights and powers vested in it by this Preferred Securities Guaranty, 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.
The Preferred Guaranty Trustee shall have the right at any time to seek instructions concerning the administration of this Preferred Securities Guaranty from any court of competent jurisdiction.
On or before July 15 of each year, the Preferred Guaranty Trustee shall provide to the Holders of the Preferred Securities such reports as are required by Section 313 of the Trust Indenture Act, if any, in the form and in the manner provided by Section 313 of the Trust Indenture Act.
The Preferred Guaranty Trustee may destroy any List of Holders previously given to it on receipt of a new List of Holders.
No permissive power or authority available to the Preferred Guaranty Trustee shall be construed to be a duty.
The Preferred Guaranty Trustee may resign from office (without need for prior or subsequent accounting) by an instrument in writing executed by the Preferred Guaranty Trustee and delivered to the Guarantor, which resignation shall not take effect until a Successor Preferred Guaranty Trustee has been appointed and has accepted such appointment by instrument in writing executed by such Successor Preferred Guaranty Trustee and delivered to the Guarantor and the resigning Preferred Guaranty Trustee.
The Guarantor shall provide to the Preferred Guaranty Trustee such documents, reports and information as required by Section 314 of the Trust Indenture Act, if any, and the compliance certificate required by Section 314 of the Trust Indenture Act in the form, in the manner and at the times required by Section 314 of the Trust Indenture Act.
The right, title and interest of the Preferred Guaranty Trustee shall automatically vest in any Successor Preferred Guaranty 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 Guaranty Trustee.
No third party shall be required to inquire as to the authority of the Preferred Guaranty Trustee to so act or as to its compliance with any of the terms and provisions of this Preferred Securities Guaranty, both of which shall be conclusively evidenced by the Preferred Guaranty Trustee's or its agent's taking such action.