Common use of Duties of Trustee; Notice of Defaults Clause in Contracts

Duties of Trustee; Notice of Defaults. (a) The Trustee, prior to the occurrence of an Event of Default with respect to any Series and after the curing of all such Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement and the related Series Supplement. During the period an Event of Default with respect to any Series shall have occurred and be continuing, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and shall use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. Any permissive right of the Trustee enumerated in this Agreement shall not be construed as a duty.

Duties of Trustee; Notice of Defaults. (a) The Trustee, prior to the occurrence of an Event of Default with respect to any Series and after the curing or waiver of all such Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement and the related Series SupplementCall Option. During the period an Event of Default with respect to any Series shall have occurred and be continuing, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and shall use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s 's own affairs. Any permissive right of the Trustee enumerated in this Agreement shall not be construed as a duty.