Common use of Co-Trustees and Separate Trustees Clause in Contracts

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law of any jurisdiction in which all or any part of the Trust Estate is located, or Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant or Owner Trustee, or Owner Trustee shall have been directed to do so by Owner Participant, Owner Trustee and Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or all of which shall be a Citizen of the United States) approved by Owner Trustee and Owner Participant, either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease Event of Default or Indenture Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 in either of such contingencies.

Appears in 13 contracts

Samples: Trust Agreement (Continental Airlines Inc /De/), Trust Agreement (Continental Airlines Inc /De/), Trust Agreement (Continental Airlines Inc /De/)

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Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law law of any jurisdiction in which all or any part of the Trust Estate is located, or the Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of the Owner Participant or the Owner Trustee, or the Owner Trustee shall have been directed to do so by the Owner Participant, the Owner Trustee and the Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or and all of which shall be a Citizen of the United StatesStates without making use of a voting trust, voting powers agreement or similar arrangement) approved by the Owner Trustee and the Owner Participant, either to act as co-trustee, jointly with the Owner Trustee, or to act as separate trustee under this Trust Agreement hereunder (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease an Indenture Event of Default or Indenture not arising from a Lease Event of Default shall occur and be continuing, the Owner Trustee may act under the foregoing provisions of this Section 9.2 9.02 without the concurrence of the Owner Participant; and the Owner Participant hereby appoints the Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 9.02 in either of such contingencies.contingency. Every additional trustee hereunder shall, to the extent permitted by law, be appointed and act, and the Owner Trustee and its successors shall act, subject to the following provisions and conditions:

Appears in 11 contracts

Samples: Trust Agreement (Northwest Airlines Corp), Trust Agreement (Northwest Airlines Corp), Trust Agreement (Northwest Airlines Inc /Mn)

Co-Trustees and Separate Trustees. (a) If at any time or --------------------------------- times it shall be necessary or prudent in order to conform to any Applicable Law of any jurisdiction in which all or any part of the Trust Estate is located, or the Owner Trustee being shall be advised by counsel shall determine that it is so necessary or prudent in the interest of the Owner Participant or the Owner Trustee, or the Owner Trustee shall have been directed to do so by the Owner Participant, the Owner Trustee and the Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons Persons (any or and all of which shall be a Citizen of the United States) approved by the Owner Trustee and the Owner Participant, either to act as co-trusteetrustee or co-trustees, jointly with the Owner Trustee, or to act as separate trustee under this Trust Agreement or trustees hereunder (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event (i) the Owner Participant shall not have joined in the execution of such agreements' agreements supplemental hereto within ten days after the receipt of a written request from the Owner Trustee so to do, or in case a Lease (ii) an Indenture Event of Default or Indenture not arising from an Event of Default shall occur and be continuing, the Owner Trustee may act under the foregoing provisions of this Section 9.2 9.02 without the concurrence of the Owner Participant; and the Owner Participant hereby appoints the Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 9.02 in either of such contingencies.. Every additional trustee hereunder shall, to the extent permitted by Applicable Law, be appointed and act, and the Owner Trustee and its successors shall act, subject to the following provisions and conditions:

Appears in 3 contracts

Samples: Trust Agreement (Midway Airlines Corp), Note Purchase Agreement (Midway Airlines Corp), Trust Agreement (Midway Airlines Corp)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law of any jurisdiction in which all or any part of the Trust Estate is located, or Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant or Owner Trustee, or Owner Trustee shall have been directed to do so by Owner Participant, Owner Trustee and Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or all of which shall be a Citizen of the United States) approved by Owner Trustee and Owner Participant, either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the execution of such agreements' agreements supplemental hereto within ten 10 days after the receipt of a written request from Owner Trustee so to do, or in case a Lease Event of Default or Indenture Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 in either of such contingencies.

Appears in 2 contracts

Samples: Trust Agreement (Atlas Air Inc), Trust Agreement (Atlas Air Inc)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law of any jurisdiction in which all or any part of the Trust Estate is located, or Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant or Owner Trustee, or Owner Trustee shall have been directed to do so by Owner Participant, Owner Trustee and Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or all of which shall be a Citizen of the United States) approved by Owner Trustee and Owner Participant, either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease Event of Default or Indenture Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 in either of such contingencies.the

Appears in 1 contract

Samples: Trust Agreement (Continental Airlines Inc /De/)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law law of any jurisdiction in which all or any part of the Trust Estate is located, or the Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of the Owner Participant or the Owner Trustee, or the Owner Trustee shall have been directed to do so by the Owner Participant, the Owner Trustee and the Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or and all of which shall be a Citizen of the United StatesStates without making use of a voting trust, voting powers agreement or similar arrangement) approved by the Owner Trustee and the Owner Participant, either to act as co-trustee, jointly with the Owner Trustee, or to act as separate trustee under this Trust Agreement hereunder (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trusteeADDITIONAL TRUSTEE"). In the event Owner Participant shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease an Indenture Event of Default or Indenture not arising from a Lease Event of Default shall occur and be continuing, the Owner Trustee may act under the foregoing provisions of this Section 9.2 9.02 without the concurrence of the Owner Participant; and the Owner Participant hereby appoints the Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 9.02 in either of such contingencies.contingency. Every additional trustee hereunder shall, to the extent permitted by law, be appointed and act, and the Owner Trustee and its successors shall act, subject to the following provisions and conditions:

Appears in 1 contract

Samples: Trust Agreement (Northwest Airlines Corp)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law law of any jurisdiction in which all or any part of the Trust Estate is located, or the Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant the Trustor or the Owner Trustee, or the Owner Trustee shall have been directed to do so by Owner Participantthe Trustor, the Owner Trustee and Owner Participant the Trustor shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or and all of which shall be a Citizen of the United StatesStates without making use of a voting trust, voting powers agreement or similar arrangement) approved by the Owner Trustee and Owner Participantthe Trustor, either to act as co-trustee, jointly with the Owner Trustee, or to act as separate trustee under this Trust Agreement hereunder (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease an Indenture Event of Default or Indenture not arising from a Lease Event of Default shall occur and be continuing, the Owner Trustee may act under the foregoing provisions of this Section 9.2 9.02 without the concurrence of Owner Participantthe Trustor; and Owner Participant the Trustor hereby appoints the Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 9.02 in either of such contingencies.contingency. Every additional trustee hereunder shall, to the extent permitted by law, be appointed and act, and the Owner Trustee and its successors shall act, subject to the following provisions and conditions:

Appears in 1 contract

Samples: Trust Agreement (Northwest Airlines Corp)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law of any jurisdiction in which all or any part of the Trust Estate is located, or Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant or Owner Trustee, or Owner Trustee shall have been directed to do so by Owner Participant, Owner Trustee and Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or all of which shall be a Citizen of the United States) approved by Owner Trustee and Owner Participant, either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the TRUST AGREEMENT BASE 398 20 execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease Event of Default or Indenture Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 in either of such contingencies.

Appears in 1 contract

Samples: Lease Agreement (Continental Airlines Inc /De/)

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Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law law of any jurisdiction in which all or any part of the Trust Estate is located, or Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant or Owner Trustee, or Owner Trustee shall have been directed to do so by Owner Participant, Owner Trustee and Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or and all of which shall be a Citizen of the United StatesStates without making use of a voting trust, voting powers agreement or similar arrangement) approved by Owner Trustee and Owner Participant, either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement hereunder (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease an Indenture Event of Default or Indenture not arising from a Lease Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 9.02 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 9.02 in either of such contingencies.contingency. Every additional trustee hereunder shall, to the extent permitted by law, be appointed and act, and Owner Trustee and its successors shall act, subject to the following provisions and conditions:

Appears in 1 contract

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law of any jurisdiction in which all or any part of the Trust Estate is located, or Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant or Owner Trustee, or Owner Trustee shall have been directed to do so by Owner Participant, Owner Trustee and Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or all of which shall be a Citizen of the United States) approved by Owner Trustee and Owner Participant, either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event Owner Participant shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease Event of Default or Indenture Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 in either of such contingencies.9.2

Appears in 1 contract

Samples: Trust Agreement (Continental Airlines Inc /De/)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any applicable Law of any jurisdiction in which all or any part of the Trust Estate is located, or Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant Beneficiary or Owner Trustee, or Owner Trustee shall have been directed to do so by Owner ParticipantBeneficiary, Owner Trustee and Owner Participant Beneficiary shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or all of which shall be a Citizen of the United States) approved by Owner Trustee and Owner ParticipantBeneficiary, either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trusteeADDITIONAL TRUSTEE"). In the event Owner Participant Beneficiary shall not have joined in the execution of such agreements' agreements supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to dodo so, or in case a Lease Event of Default or Indenture an Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 9.02 without the concurrence of Owner ParticipantBeneficiary; and Owner Participant Beneficiary hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 9.02 in either of such contingencies.

Appears in 1 contract

Samples: Trust Agreement (Republic Airways Holdings Inc)

Co-Trustees and Separate Trustees. If (a) If at any time it shall be necessary or prudent in order to conform to any Law law of any jurisdiction in which all or any part of the Trust Estate is located, or (b) Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of Owner Participant or Owner Trustee, or (c) Owner Trustee shall have been directed in writing to do so by Owner Participant, then Owner Trustee and Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or and all of which shall shall, if required by the Federal Aviation Code, be a Citizen of the United States) , approved by Owner Trustee and Owner Participant, ) either to act as co-trustee, jointly with Owner Trustee, or to act as separate trustee under this Trust Agreement hereunder (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trusteeADDITIONAL TRUSTEE"). In the event If Owner Participant shall not have joined in the execution of such agreements' agreements supplemental hereto within ten 15 days after the receipt of a written request from Owner Trustee so to do, or in case a Lease Event of Default or Indenture an Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 9.02 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 9.02 in either of such contingencies.. Every additional trustee hereunder shall, to the extent permitted by law, be appointed and act, and Owner Trustee and its successors shall act, subject to the following provisions and conditions:

Appears in 1 contract

Samples: Lease Agreement (Republic Airways Holdings Inc)

Co-Trustees and Separate Trustees. (a) If at any time it shall be necessary or prudent in order to conform to any Law law of any jurisdiction in which all or any part of the Trust Estate is located, or make any claim or bring any suit with respect to the Trust Estate or the Lease, or in the event that the Owner Trustee shall have been requested to do so by the Owner Participants or the Owner Trustee being advised by counsel shall determine that it is so necessary or prudent in the interest of the Owner Participant Participants or the Owner Trustee, or the Owner Trustee shall have been directed to do so by a Majority in Interest of Owner ParticipantParticipants, the Owner Trustee and each Owner Participant shall execute and deliver an agreement supplemental hereto and all other instruments and agreements necessary or proper to constitute another bank or trust company or one or more persons (any or and all of which shall be a Citizen "citizen of the United States" as defined in Section 40102(a)(15) of the Transportation Code) approved by the Owner Trustee and a Majority in Interest of Owner ParticipantParticipants, either to act as co-trustee, jointly with the Owner Trustee, or to act as separate trustee under this Trust Agreement hereunder (any such co-trustee or separate trustee being herein sometimes referred to as an "additional trustee"). In the event the Owner Participant Participants shall not have joined in the execution of such agreements' supplemental hereto within ten days after the receipt of a written request from Owner Trustee so to do, or in case a Lease Event of Default or Indenture Event of Default shall occur and be continuing, Owner Trustee may act under the foregoing provisions of this Section 9.2 without the concurrence of Owner Participant; and Owner Participant hereby appoints Owner Trustee its agent and attorney-in-fact to act for it under the foregoing provisions of this Section 9.2 in either of such contingencies.agreements supplemental

Appears in 1 contract

Samples: Trust Agreement (United Air Lines Inc)

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