Trustee Indemnified Person definition
Examples of Trustee Indemnified Person in a sentence
The Indenture Trustee Indemnified Person shall notify the Issuer in writing as soon as is reasonably practicable of any claim for which it may seek indemnity.
The indemnification of the Trustee and any other Trustee Indemnified Party provided for under Section 8.05 or any other Section of this Agreement hereof and the lien securing payment of such indemnification shall survive any resignation or removal of the Trustee hereunder and the termination of the Trust (but not the distribution of Trust assets) and inure to the benefit of any successor to the Trustee or a Trustee Indemnified Person.
Failure by a Certificate Trustee Indemnified Person to so notify the Note Issuer shall relieve the Note Issuer from the obligation to indemnify and hold harmless such Certificate Trustee Indemnified Person under this Section 6.06(b) only to the extent that the Note Issuer suffers actual prejudice as a result of such failure.
Promptly after receipt by a Certificate Trustee Indemnified Person of notice of its involvement in any action, proceeding or investigation, such Certificate Trustee Indemnified Person shall, if a claim for indemnification in respect thereof is to be made against the Note Issuer under this Section 6.06(b), notify the Note Issuer in writing of such involvement.
The Note Issuer shall not be required to indemnify any Certificate Trustee Indemnified Person for any amount paid or payable by such Certificate Trustee Indemnified Person pursuant to this Section 6.06(b) in the settlement of any action, proceeding or investigation without the written consent of the Note Issuer, which consent shall not be unreasonably withheld.
Upon assumption by the Note Issuer of the defense of any such action, proceeding or investigation, the Certificate Trustee Indemnified Person shall have the right to participate in such action or proceeding and to retain its own counsel.
Should the Sponsor fail to pay any amount to any Trustee Indemnified Person when due, the Trustee, on behalf of itself or such other Trustee Indemnified Person, shall be authorized to charge such amount to the Trust.
The Issuer shall defend the claim, the Indenture Trustee may have separate counsel, and the Issuer shall pay the reasonable fees and expenses of such counsel; provided that the Issuer shall not be obligated to pay for the fees and expenses of more than one counsel for the Indenture Trustee Indemnified Person other than one local counsel, if appropriate.
Failure by the Indenture Trustee Indemnified Person to so notify the Issuer shall not relieve the Issuer of its obligations hereunder.
The Issuer shall not be required to indemnify the Indenture Trustee Indemnified Person for any amount paid or payable by such Indenture Trustee Indemnified Person in the settlement of any action, proceeding or investigation without the prior written consent of the Issuer, which consent shall not be unreasonably withheld.