Common use of Conditions Precedent to Trustee’s Obligation to Act Clause in Contracts

Conditions Precedent to Trustee’s Obligation to Act. (a) The Trustee shall not be bound to give any notice, or to do, observe or perform or see to the observance or performance by the Corporation of any of the obligations imposed under this Indenture or to supervise or interfere with any of the activities of the Corporation, or to do or take any act, action or Proceeding by virtue of the powers conferred on it by this Indenture, unless and until it shall have been required to do so under the terms of this Indenture; nor shall the Trustee be required to take notice of any Default or Event of Default, other than in payment of any moneys required by this Indenture to be paid to the Trustee, unless and until notified in writing of such Default or Event of Default by the Corporation or by any Holder, which notice shall distinctly specify such Default or Event of Default, and in the absence of any such notice the Trustee may conclusively assume that no Default or Event of Default has occurred. Any such notice or requisition shall in no way limit any discretion given to the Trustee in this Indenture to determine whether or not to take action with respect to any Default or Event of default or with respect to any such requisition.

Conditions Precedent to Trustee’s Obligation to Act. (a1) The Trustee shall not be bound to give any notice, or to do, observe or perform or see to the observance or performance by the Corporation of any of the obligations imposed under this Indenture or to supervise or interfere with any of the activities of the Corporation, or to do or take any act, action or Proceeding by virtue of the powers conferred on it by this Indenture, unless and until it shall have been required to do so under the terms of this Indenture; nor shall the Trustee be required to take notice of any Default or Event of Default, other than in payment of any moneys required by this Indenture to be paid to the Trustee, unless and until notified in writing of such Default or Event of Default by the Corporation or by any Holder, which notice shall distinctly specify such Default or Event of Default, and in the absence of any such notice the Trustee may conclusively assume that no Default or Event of Default has occurred. Any such notice or requisition shall in no way limit any discretion given to the Trustee in this Indenture to determine whether or not to take action with respect to any Default or Event of default or with respect to any such requisition.

Conditions Precedent to Trustee’s Obligation to Act. (a) The Trustee shall not be bound to give any notice, or to do, observe or perform or see to the observance or performance by the Corporation of any of the obligations imposed under this Warrant Indenture or to supervise or interfere with any of the activities of the Corporation, or to do or take any act, action or Proceeding by virtue of the powers conferred on it by this Warrant Indenture, unless and until it shall have been required to do so under the terms of this Warrant Indenture; nor shall the Trustee be required to take notice of any Default or Event of Defaultdefault hereunder, other than in payment of any moneys required by this Warrant Indenture to be paid to the Trustee, unless and until notified in writing of such Default or Event of Default default by the Corporation or by any Holder, which notice shall distinctly specify such Default or Event of Defaultdefault, and in the absence of any such notice the Trustee may conclusively assume that no Default or Event of Default default has occurred. Any such notice or requisition shall in no way limit any discretion given to the Trustee in this Warrant Indenture to determine whether or not to take action with respect to any Default or Event of default or with respect to any such requisition.

Conditions Precedent to Trustee’s Obligation to Act. (a) The Trustee shall not be bound to give any notice, or to do, observe or perform or see to the observance or performance by the Corporation Issuer of any of the obligations imposed under this the Indenture or to supervise or interfere with any of the activities of the CorporationIssuer, or to do or take any act, action or Proceeding by virtue of the powers conferred on it by this Indenture, unless and until it shall have been required to do so under the terms of this Indenture; nor shall the Trustee be required to take notice of any Default default or Event of Default, other than in payment of any moneys required by this Indenture to be paid to the Trustee, unless and until notified in writing of such Default default or Event of Default by the Corporation Issuer or by any Holder, which notice shall distinctly specify such Default default or Event of Default, and in the absence of any such notice the Trustee may conclusively assume that no Default default or Event of Default has occurred. Any such notice or requisition shall in no way limit any discretion given to the Trustee in this Indenture to determine whether or not to take action with respect to any Default default or Event of default Default or with respect to any such requisition.

Conditions Precedent to Trustee’s Obligation to Act. (a) The Trustee shall not be bound to give any notice, notice or to do, observe or perform or see to the observance or performance by the Corporation of any of the obligations imposed under this Indenture or to supervise or interfere with any of the activities of the Corporation, or to do or take any act, action or Proceeding by proceeding in virtue of the powers conferred on it by this Indenture, hereby unless and until it shall have been required so to do so under the terms hereof. Nor, subject to any default which may come to the attention of this Indenture; nor the Trustee by virtue of VGZ’s compliance with subsection 6.1(c), shall the Trustee be required to take notice of any Default or Event of Defaultdefault hereunder, other than in payment of any moneys required by this Indenture any provision hereof to be paid to the Trusteeit, unless and until notified in writing of such Default or Event of Default by the Corporation or by any Holderdefault, which notice shall distinctly specify such Default or Event the default desired to be brought to the attention of Defaultthe Trustee, and in the absence of any such notice the Trustee may for all purposes of this Indenture conclusively assume that VGZ is not in default hereunder and that no Default default has been made with respect to the payment of principal or Event interest on the Notes or in the observance or performance of Default has occurredany of the covenants, agreements or conditions contained herein. Any such notice or requisition shall in no way limit any discretion herein given to the Trustee in this Indenture to determine whether or not to the Trustee shall take action with respect to any Default or Event of default or with respect to take action without any such requisition.

Conditions Precedent to Trustee’s Obligation to Act. (a) The Trustee shall not be bound to give any notice, or to do, observe or perform or see to the observance or performance by the Corporation Issuer of any of the obligations imposed under this the Indenture or to supervise or interfere with any of the activities of the CorporationIssuer, or to do or take any act, action or Proceeding by virtue of the powers conferred on it by this Indenture, unless and until it shall have been required to do so under the terms of this Indenture; nor shall the Trustee be required to take notice of any Default or Event of Default, other than in payment of any moneys required by this Indenture to be paid to the Trustee, unless and until notified in writing of such Default or Event of Default by the Corporation Issuer or by any Holder, which notice shall distinctly specify such Default or Event of Default, and in the absence of any such notice the Trustee may conclusively assume that no Default or Event of Default has occurred. Any such notice or requisition shall in no way limit any discretion given to the Trustee in this Indenture to determine whether or not to take action with respect to any Default or Event of default Default or with respect to any such requisition.