Co-Trustee. It is the intent of this Indenture that there will be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of banking corporations or associations to transact business as Trustee in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, in particular, in case of the enforcement of any remedy upon an Event of Default, or in case the Trustee deems that, by reason of any present or future law of any jurisdiction, it may not exercise any of the powers, rights or remedies granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the Co-Trustee, but only to the extent necessary to enable the Co-Trustee to exercise such powers, rights or remedies. Should any conveyance or instrument in writing from the Issuer be required by the Co-Trustee for more fully and certainly vesting in and confirming to it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. If the Co-Trustee, or a successor, becomes incapable of acting, resigns or is removed, all the estates, properties rights, powers, trusts, duties and obligations of such Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such Co-Trustee in the manner in which a successor Trustee is appointed under the Order.
Appears in 1 contract
Sources: Mortgage, Security Agreement and Indenture of Trust (Foster Wheeler Inc)
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of certain banking corporations or associations to transact business as Trustee trustee as contemplated herein in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, Indenture and in particular, particular in case of the enforcement of any remedy the security interest contained in this Indenture upon the occurrence of an Event of Default, or in case it may be necessary that the Trustee deems thatappoint an additional individual or institution as a separate Trustee or Co-Trustee, which shall be satisfactory to the Company. The following provisions of this Section 10.18 are adapted to these ends:
(a) In the event of the incapacity or lack of authority of the Trustee by reason of any present or future law of any jurisdiction, it may not jurisdiction to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to or a security interest in the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the Co-Trustee, such separate Trustee or Co- Trustee but only to the extent necessary to enable the separate Trustee or Co-Trustee to exercise such powersrights, rights powers and trusts, and every covenant and obligation necessary to the exercise thereof shall run to and be enforceable by such separate Trustee or remedies. Co-Trustee.
(b) Should any deed, conveyance or instrument in writing from the Issuer be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to it such properties, rights, powers, trusts, duties and obligations, obligations any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. If the In case any separate Trustee or Co-Trustee, Trustee or a successorsuccessor to either, becomes shall die, be dissolved, become incapable of actingaction, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by laware, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee in the manner in which a successor Trustee is appointed under the OrderTrustee.
Appears in 1 contract
Sources: Trust Indenture (Laralev Inc)
Co-Trustee. It is (1) At any time or times upon the intent consent of this Indenture that there will be no violation the Bondholder Representative, for the purpose of meeting any law legal requirements of any jurisdiction (including, particularlyin which any part of the Trust Estate may at the time be located, the law of Trustee shall have the State of Illinois) denying or restricting the right of banking corporations or associations power to transact business as Trustee in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indentureappoint, and, in particular, in case upon the request of the enforcement of any remedy upon an Event of Default, or in case the Trustee deems that, by reason of any present or future law of any jurisdiction, it may not exercise any of the powers, rights or remedies granted to the Trustee, the Issuer shall for such purpose join with the Trustee in the execution, delivery, and performance of all instruments and agreements necessary or take proper to appoint one or more persons either to act as co-Trustee or co-Trustees, jointly with the Trustee, of all or any other action which may be desirable part of the Trust Estate, or necessary to act as separate Trustee or separate Trustees of all or any part of the Trust Estate, and to vest in connection therewithsuch person or persons, each and every remedyin such capacity, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed such right to the Trust Estate or any part thereof, and such rights, powers, duties, trusts or obligations as the Trustee with respect thereto shall be exercisable by and vest in the Co-Trusteemay consider necessary or desirable, but only subject to the extent necessary to enable the Coremaining provisions of this Section 9.13. Every such co-Trustee or separate Trustee appointed pursuant to exercise the provisions of this Section 9.13 must be a trust company or bank having trust powers and having a reported capital and surplus not less than $50,000,000, if there be such powersan institution willing, rights qualified, and able to accept the trust upon reasonable or remedies. Should any conveyance or instrument in writing from the customary terms.β
(2) The Issuer shall execute, acknowledge, and deliver all such instruments as may be required by the Coany such co-Trustee or separate Trustee for more fully and certainly vesting in and confirming to it such propertiestitle, rights, powers, trusts, duties duties, and obligations, any and all obligations to such deeds, conveyances and instruments in writing co-Trustee or separate Trustee.
(3) Every co-Trustee or separate Trustee shall, on requestto the extent permitted by law but to such extent only, be executedappointed subject to the following terms, acknowledged and delivered by the Issuer. If the Co-Trustee, or a successor, becomes incapable of acting, resigns or is removed, all the estates, properties namely:
(a) All rights, powers, trusts, duties, and obligations conferred by this Indenture upon the Trustee with respect to the custody, control or management of moneys, papers, securities, and other personal property shall be exercised solely by the Trustee.
(b) All rights, powers, trusts, duties, and obligations conferred or imposed upon the Trustees shall be conferred or imposed upon and exercised or performed by the Trustee, or by the Trustee and such co-Trustee or co-Trustees or separate Trustee or separate Trustees jointly, as shall be provided in the instrument appointing such co-Trustee or co-Trustees or separate Trustee or separate Trustees; provided, however, the Trustee shall remain responsible for exercising all rights and powers, maintaining all trusts and performing all duties and obligations conferred or imposed upon the Trustees, except to the extent that, under the law of any jurisdiction in which any particular act or acts are to be performed, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such act or acts shall be performed by such co-Trustee or co-Trustees or separate Trustee or separate Trustees.
(c) Any request in writing by the Trustee to any co-Trustee or separate Trustee to take or to refrain from taking any action hereunder shall be sufficient warrant for the taking, or the refraining from taking, of such Coaction by such co-Trustee or separate Trustee.
(d) Any co-Trustee or separate Trustee may delegate to the Trustee the exercise of any right, power, trust, duty, or obligation, discretionary or otherwise.
(e) The Trustee at any time, by an instrument in writing, may accept the resignation of or remove any co-Trustee or separate Trustee appointed under this Section 9.13. Upon the request of the Trustee, the Issuer shall join with the Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to effectuate such resignation or removal. A successor to any co-Trustee or separate Trustee so resigned or removed may be appointed in the manner provided in this Section 9.13.
(f) No Trustee hereunder shall be personally liable by reason of any act or omission of any other Trustee hereunder.
(g) Any demand, request, direction, appointment, removal, notice, consent, waiver, or other action in writing delivered to the Trustee shall be deemed to have been delivered to each co-Trustee or separate Trustee.
(h) Any moneys, papers, securities, or other items of personal property received by any such co-Trustee or separate Trustee hereunder shall forthwith, so far as may be permitted by law, be turned over to the Trustee promptly.
(4) Upon the acceptance in writing of such appointment by any such co-Trustee or separate Trustee, such co-Trustee or separate Trustee shall be vested with such interest in and to the Trust Estate or any part thereof, and with such rights, powers, duties or obligations, as shall be specified in the instrument of appointment jointly with the Trustee (except insofar as local law makes it necessary for any such co-Trustee or separate Trustee to act alone) subject to all the terms of this Indenture. Every such acceptance shall be filed with the Trustee. Any co-Trustee or separate Trustee may, at any time by an instrument in writing, constitute the Trustee its attorney-in-fact and agent, with full power and authority to do all acts and things and to exercise all discretion on its behalf and in its name.
(5) In case any co-Trustee or separate Trustee shall become incapable of acting, resign or be removed, the title to the Trust Estate and all rights, powers, trusts, duties, and obligations of said co-Trustee or separate Trustee shall, so far as permitted by law, shall vest in and be exercised by the Trustee unless and until the appointment of a new Cosuccessor co-Trustee or successor to such Co-separate Trustee shall be appointed in the manner in which a successor Trustee is appointed under the Orderherein provided.
Appears in 1 contract
Sources: Trust Indenture
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of certain banking corporations or associations to transact business as Trustee trustee as contemplated herein in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, Indenture and in particular, particular in case of the enforcement of any remedy the security interest contained in this Indenture upon the occurrence of an Event of Default, or in case it may be necessary that the Trustee deems thatappoint an additional individual or institution as a separate Trustee or Co-Trustee, which shall be satisfactory to the Lessee. The following provisions of this Section 10.17 are adapted to these ends:
(a) In the event of the incapacity or lack of authority of the Trustee by reason of any present or future law of any jurisdiction, it may not jurisdiction to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to or a security interest in the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the such separate Trustee or Co-Trustee, Trustee but only to the extent necessary to enable the separate Trustee or Co-Trustee to exercise such powersrights, rights powers and trusts, and every covenant and obligation necessary to the exercise thereof shall run to and be enforceable by such separate Trustee or remedies. Co-Trustee.
(b) Should any deed, conveyance or instrument in writing from the Issuer be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to it such properties, rights, powers, trusts, duties and obligations, obligations any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. If the In case any separate Trustee or Co-Trustee, Trustee or a successorsuccessor to either, becomes shall die, be dissolved, become incapable of actingaction, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by laware, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee in the manner in which a successor Trustee is appointed under the OrderTrustee.
Appears in 1 contract
Co-Trustee. It is the intent of this Indenture purpose hereof that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of banking corporations banks or associations trust companies to transact business as Trustee trustee in such jurisdiction. It is recognized that in case of litigation hereunder or foreclosure under this Indenture, and, the Related Documents and in particular, particular in case of the enforcement of this Indenture or any remedy of the Related Documents upon the occurrence of an Event of DefaultDefault or an event of default under any of the Related Documents, or in case it may be necessary that the Trustee deems thatappoint an additional bank or trust company as a separate Trustee or Co-Trustee. The following provisions of this Section are adopted to these ends. Upon the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction, it may not to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to the trust estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the Co-Trustee, but only to the extent necessary to enable the a separate Trustee or Co-Trustee appointed by the Trustee and every agreement and obligation necessary to the exercise thereof by such powers, rights separate Trustee or remediesCo-Trustee shall run to and be enforceable by either of them. Should any deed, conveyance or instrument in writing from the Issuer be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to it such Trustee such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the IssuerIssuer upon the written request of the Trustee. If the In case any separate Trustee or Co-Trustee, or a successorsuccessor to either, becomes shall die, become incapable of acting, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee in the manner in which a successor Trustee is appointed under the OrderTrustee.
Appears in 1 contract
Co-Trustee. (a) It is the intent purpose of this Indenture Guarantee Agreement that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of banking corporations or associations to transact business as Trustee trustee in such jurisdiction. It is recognized that in case of litigation or foreclosure under this IndentureGuarantee Agreement, and, and in particular, particular in case of the enforcement of any remedy upon thereof in an Event of Default, or in the case the Guarantee Trustee deems that, that by reason of any present or future law of any jurisdiction, jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the TrusteeGuarantee Trustee or hold title to the properties, in trust, as herein granted or take any other action which may be desirable or necessary in connection therewith, or to avoid having to submit to the courts or other governmental entities in a foreign jurisdiction to which it is not already subject personally or otherwise, it may be necessary that the Guarantee Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this Section 2.8 are adopted to these ends.
(b) In the event that the Guarantee Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture Guarantee Agreement to be exercised by or vested in or conveyed to the Guarantee Trustee with respect thereto shall be exercisable by and vest in the Cosuch separate or co-Trustee, trustee but only to the extent necessary to enable the Cosuch separate or co-Trustee trustee to exercise such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such separate or remedies. co-trustee shall run to and be enforceable by either of them.
(c) Should any conveyance or instrument in writing from the Issuer Bank and/or the Guarantor, as applicable, be required by the Coseparate or co-trustee so appointed by the Guarantee Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the IssuerBank and/or the Guarantor, as applicable; provided, that if an Event of Default shall have occurred and be continuing, if the Bank and/or the Guarantor, as applicable does not execute any such instrument within fifteen (15) days after request therefor, the Guarantee Trustee shall be empowered as an attorney-in-fact for the Bank and/or the Guarantor, as applicable, to execute any such instrument in the name and stead of the Bank and/or the Guarantor, as applicable. If the CoIn case any separate or co-Trustee, trustee or a successorsuccessor to either shall die, becomes become incapable of acting, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such Coseparate or co-Trusteetrustee, so far as permitted by law, shall vest in and be exercised by the Guarantee Trustee until the appointment of a new Co-Trustee trustee or successor to such Coseparate or co-trustee.
(d) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:
(i) all rights and powers, conferred or imposed upon the Guarantee Trustee in shall be conferred or imposed upon and may be exercised or performed by such separate trustee or co-trustee; and
(ii) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder.
(e) Any notice, request or other writing given to the manner in which a successor Guarantee Trustee is appointed under shall be deemed to have been given to each of the Orderthen separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Guarantee Agreement and the conditions of this Section 2.8.
Appears in 1 contract
Sources: Preference Shares Guarantee Agreement (Bank of N.T. Butterfield & Son LTD)
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of certain banking corporations or associations to transact business as Trustee trustee as contemplated herein in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, in particular, in case Indenture upon the occurrence of the enforcement of any remedy upon an Event of Default, or in case it may be necessary that the Trustee deems thatappoint an additional individual or institution as a separate Trustee or Co-Trustee, which shall be satisfactory to the Company. The following provisions of this Section 915 are adapted to these ends. In the event of the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction, it may not to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the such separate Trustee or Co-Trustee, Trustee but only to the extent necessary to enable the separate Trustee or Co-Trustee to exercise such powersrights, rights powers and trusts, and every covenant and obligation necessary to the exercise thereof shall run to and be enforceable by such separate Trustee or remediesCo-Trustee. Should any deed, conveyance or instrument in writing from the Issuer Company be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to him or it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the IssuerCompany. If the In case any separate Trustee or Co-Trustee, Trustee or a successorsuccessor to either, becomes shall die, become incapable of acting, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee. The combined fees and compensation of any separate Trustee or Co-Trustee in and the manner in which a successor Trustee is appointed shall not exceed the fees and compensation that the Trustee acting alone would otherwise be entitled to under the Orderfee arrangement then in effect between the Trustee and the Company.
Appears in 1 contract
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of certain banking corporations or associations to transact business as Trustee trustee as contemplated herein in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, in particular, in case Indenture upon the occurrence of the enforcement of any remedy upon an Event of Default, or in case it may be necessary that the Trustee deems thatappoint an additional individual or institution as a separate Trustee or Co-Trustee, which shall be satisfactory to the Borrower. The following provisions of this Section 1015 are adapted to these ends. In the event of the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction, it may not to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the such separate Trustee or Co-Trustee, Trustee but only to the extent necessary to enable the separate Trustee or Co-Trustee to exercise such powersrights, rights powers and trusts, and every covenant and obligation necessary to the exercise thereof shall run to and be enforceable by such separate Trustee or remediesCo-Trustee. Should any deed, conveyance or instrument in writing from the Issuer be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to him or it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. If the In case any separate Trustee or Co-Trustee, Trustee or a successorsuccessor to either, becomes shall die, become incapable of acting, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee. For all purposes of this Indenture, the Credit Facility Trustee shall be deemed a Co-Trustee in within the manner in which a successor Trustee is appointed under the Ordermeaning of this Section 1015.
Appears in 1 contract
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of banking corporations or associations to transact business as Trustee trustee in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, and in particular, - 92 - particular in case of the enforcement of any remedy upon an Event of Defaultthereof on default, or in the case the Trustee deems that, that by reason of any present or future law of any jurisdiction, jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the TrusteeTrustee or hold title to the properties, in trust, as herein granted or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee meeting the requirements of the Indenture. The following provisions of this Section 613 are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the Cosuch separate or co-Trustee, trustee but only to the extent necessary to enable the Cosuch separate or co-Trustee trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or remediesco-trustee shall run to and be enforceable by either of them. Should any conveyance or instrument in writing from the Issuer Company be required by the Coseparate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the IssuerIssuer at the expense of the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Company to execute any such instrument in the Company's name and stead. If the CoIn case any separate or co-Trustee, trustee or a successorsuccessor to either shall die, becomes become incapable of acting, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such Coseparate or co-Trusteetrustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee trustee or successor to such Coseparate or co-Trustee in trustee. ARTICLE SEVEN HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY SECTION 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS. The Company will furnish or cause to be furnished to the manner in which a successor Trustee is appointed under the Order.Trustee:
Appears in 1 contract
Sources: Exhibit (Brooks Pharmacy, Inc.)
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of certain banking corporations or associations to transact business as Trustee trustee as contemplated herein in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, in particular, in case Indenture upon the occurrence of the enforcement of any remedy upon an Event of Default, or in case it may be necessary that the Trustee deems thatappoint an additional individual or institution as a separate Trustee or Co-Trustee, which shall be satisfactory to the Borrower. The following provisions of this SECTION 1015 are adapted to these ends. In the event of the incapacity or lack of authority of the Trustee, by reason of any present or future law of any jurisdiction, it may not to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the such separate Trustee or Co-Trustee, Trustee but only to the extent necessary to enable the separate Trustee or Co-Trustee to exercise such powersrights, rights powers and trusts, and every covenant and obligation necessary to the exercise thereof shall run to and be enforceable by such separate Trustee or remediesCo-Trustee. Should any deed, conveyance or instrument in writing from the Issuer be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to him or it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. If the In case any separate Trustee or Co-Trustee, Trustee or a successorsuccessor to either, becomes shall die, become incapable of acting, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee in the manner in which a successor Trustee is appointed under the OrderTrustee.
Appears in 1 contract
Sources: Loan Agreement (Genlyte Group Inc)
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of certain banking corporations or associations to transact business as Trustee trustee as contemplated herein in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, Indenture and in particular, particular in case of the enforcement of any remedy the security interest contained in this Indenture upon the occurrence of an Event of Default, or in case it may be necessary that the Trustee deems thatappoint an additional individual or institution as a separate Trustee or Co-Trustee, which shall be satisfactory to the Issuer. The following provisions of this Section 10.17 are adapted to these ends:
(a) In the event of the incapacity or lack of authority of the Trustee by reason of any present or future law of any jurisdiction, it may not jurisdiction to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to or a security interest in the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the such separate Trustee or Co-Trustee, Trustee but only to the extent necessary to enable the separate Trustee or Co-Trustee to exercise such powersrights, rights powers and trusts, and every covenant and obligation necessary to the exercise thereof shall run to and be enforceable by such separate Trustee or remedies. Co-Trustee.
(b) Should any deed, conveyance or instrument in writing from the Issuer be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to it such properties, rights, powers, trusts, duties and obligations, obligations any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the Issuer. If the In case any separate Trustee or Co-Trustee, Trustee or a successorsuccessor to either, becomes shall die, be dissolved, become incapable of actingaction, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee in the manner in which a successor Trustee is appointed under the OrderTrustee.
Appears in 1 contract
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of certain banking corporations or associations to transact business as Trustee trustee as contemplated herein in such jurisdiction. It is recognized that in case of litigation or foreclosure under this Indenture, and, Indenture and in particular, particular in case of the enforcement of any remedy the security interest contained in this Indenture upon the occurrence of an Event of Default, or in case it may be necessary that the Trustee deems thatappoint an additional individual or institution as a separate Trustee or Co-Trustee, which shall be satisfactory to the Company. The following provisions of this Section 10.18 are adapted to these ends:
(a) In the event of the incapacity or lack of authority of the Trustee by reason of any present or future law of any jurisdiction, it may not jurisdiction to exercise any of the powersrights, rights or remedies powers and trusts herein granted to the Trustee, Trustee or to hold title to or a security interest in the Trust Estate or to take any other action which may be necessary or desirable or necessary in connection therewith, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the such separate Trustee or Co-Trustee, Trustee but only to the extent necessary to enable the separate Trustee or Co-Trustee to exercise such powersrights, rights powers and trusts, and every covenant and obligation necessary to the exercise thereof shall run to and be enforceable by such separate Trustee or remedies. Co-Trustee.
(b) Should any deed, conveyance or instrument in writing from the Issuer be required by the separate Trustee or Co-Trustee for so appointed by the Trustee in order to more fully and certainly vesting vest in and confirming confirm to it such properties, rights, powers, trusts, duties and obligations, obligations any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and 63 70 delivered by the Issuer. If the In case any separate Trustee or Co-Trustee, Trustee or a successorsuccessor to either, becomes shall die, be dissolved, become incapable of actingaction, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such separate Trustee or Co-Trustee, so far as permitted by laware, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee or successor to such separate Trustee or Co-Trustee in the manner in which a successor Trustee is appointed under the OrderTrustee.
Appears in 1 contract
Co-Trustee. It is the intent purpose of this Indenture that there will shall be no violation of any law of any jurisdiction (including, particularly, the law of the State of Illinois) denying or restricting the right of banking corporations or associations to transact business as Trustee trustee in such jurisdiction. It is recognized that in case of litigation or foreclosure under this IndentureIndenture or the Agreement, and, and in particular, particular in case of the enforcement of any remedy upon an Event of Defaultthereof on default, or in the case the Trustee deems that, that by reason of any present or future law of any jurisdiction, jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the TrusteeTrustee or hold title to the properties, in trust, as herein granted or take any other action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee meeting the requirements of the Indenture. The following provisions of this Section 613 are adopted to these ends. In the event that the Trustee appoints an additional individual or institution as a separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest in the Cosuch separate or co-Trustee, trustee but only to the extent necessary to enable the Cosuch separate or co-Trustee trustee to exercise such powers, rights and remedies, and only to the extent that the Trustee by the laws of any jurisdiction is incapable of exercising such powers, rights and remedies and every covenant and obligation necessary to the exercise thereof by such separate or remediesco-trustee shall run to and be enforceable by either of them. Should any conveyance or instrument in writing from the Issuer Company be required by the Coseparate or co-trustee so appointed by the Trustee for more fully and certainly vesting in and confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such deeds, conveyances and instruments in writing shall, on request, be executed, acknowledged and delivered by the IssuerCompany at the expense of the Company; provided, that if an Event of Default shall have occurred and be continuing, if the Company does not execute any such instrument within fifteen (15) days after request therefor, the Trustee shall be empowered as an attorney-in-fact for the Company to execute any such instrument in the Company's name and stead. If the CoIn case any separate or co-Trustee, trustee or a successorsuccessor to either shall die, becomes become incapable of acting, resigns resign or is be removed, all the estates, properties properties, rights, powers, trusts, duties and obligations of such Coseparate or co-Trusteetrustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a new Co-Trustee trustee or successor to such Coseparate or co-Trustee in trustee. 90 ARTICLE SEVEN HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY SECTION 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS. The Company will furnish or cause to be furnished to the manner in which a successor Trustee is appointed under the Order.Trustee:
Appears in 1 contract
Sources: Exhibit (Brooks Pharmacy, Inc.)