Subordinate Trustee definition

Subordinate Trustee means U.S. Bank National Association, as successor trustee to Bank of America National Trust and Savings Association, and any successor thereto as trustee under the Subordinate Agreement.
Sample 1Sample 2
Subordinate Trustee means U.S. Bank National Association, a national banking association duly organized and existing under and by virtue of the laws of the United States of America, or its successors, as Trustee as provided in the Subordinate Indenture.
Sample 1
Subordinate Trustee means U.S. Bank National Association, a national banking association, duly organized and existing under the laws of the United States, or its successor, as Trustee, as provided in Section 8.01 of the Subordinate Indenture.
Sample 1

Examples of Subordinate Trustee in a sentence

  • The restricted assets for revenue bond reserves, debt service and costs of issuance are held by an independent bond trustee for the Airport’s senior lien bonds (the Senior Trustee) and a separate independent bond trustee for the Airport’s subordinate lien bonds (the Subordinate Trustee, and collectively with the Senior Trustee, the Trustees).

  • The Subordinate Trustee is duly authorized to act as a fiduciary and to execute the trust created by the Subordinate Indenture, and meets the qualifications to act as Subordinate Trustee under the Subordinate Indenture.

  • Modification or the waiver of any provisions of this Subordinate Loan Agreement or consent to any departure by the parties therefrom, shall in no event be effective unless the same shall be in writing approved by the parties hereto and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given and so long as the interests of any Subordinate Bondholders are not adversely affected and the Subordinate Trustee consents in writing thereto.

  • No remedy conferred upon or reserved to the Issuer or the Subordinate Trustee by this Subordinate Loan Agreement is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Subordinate Loan Agreement or now or hereafter existing at law or in equity or by statute.

  • Whenever in this Subordinate Loan Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower which are contained in this Subordinate Loan Agreement shall bind its successors and assigns and inure to the benefit of the successors and assigns of the Issuer and the Subordinate Trustee.

  • The Subordinate Trustee is entering into this Subordinate Loan Agreement solely in its capacity as Subordinate Trustee and shall be entitled to the rights, protections, limitations from liability and immunities afforded it as Subordinate Trustee under the Subordinate Indenture.

  • Except as otherwise provided in the Subordinate Indenture, any money held as a part of any fund or account established under the Subordinate Indenture shall be invested or reinvested by the Subordinate Trustee in Investment Securities in accordance with the Subordinate Indenture.

  • The Issuer, the Subordinate Trustee and the Borrower agree that they will, from time to time, execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such supplements hereto and such further instruments as may reasonably be required for correcting any inadequate or incorrect description of the performance of this Subordinate Loan Agreement.

  • The parties hereto acknowledge, and the Borrower consents to, the assignment by the Issuer to the Subordinate Trustee pursuant to the Subordinate Indenture of all of the Issuer’s right, title and interest in this Subordinate Loan Agreement (excluding the Unassigned Rights), the Subordinate Loan, the Subordinate Mortgage and the Revenues as security for the payment of the principal of, and interest on the Subordinate Bonds.

  • The representations, covenants, agreements and warranties set forth in this Subordinate Loan Agreement may be relied upon by the Issuer and the Subordinate Trustee.

Related to Subordinate Trustee

  • indenture trustee or “institutional trustee” means the Trustee.

  • Corporate Trust Office of the Trustee shall be at the address of the Trustee specified in Section 12.02 hereof or such other address as to which the Trustee may give notice to the Company.

  • Bond Trustee means the company designated as such in the preamble to these Bond Terms, or any successor, acting for and on behalf of the Bondholders in accordance with these Bond Terms.

  • Debenture Trustee means The Bank of New York, as trustee under the Indenture until a successor is appointed thereunder, and thereafter means such successor trustee.