Common use of Guarantee Event of Default; Notice Clause in Contracts

Guarantee Event of Default; Notice. (a) The Trust Preferred Securities Guarantee Trustee shall, within 90 days after the occurrence of a Guarantee Event of Default, mail by first class postage prepaid, to all Holders, notices of all Guarantee Events of Default actually known to a Responsible Officer, unless such defaults have been cured before the giving of such notice; provided, that, except in the case of a Guarantee Event of Default in the timing or payment of any Guarantee Payment, the Trust Preferred Securities Guarantee Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or a Responsible Officer of the Trust Preferred Securities Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

Appears in 5 contracts

Samples: Trust Preferred Securities Guarantee Agreement (Vineyard Statutory Trust X), Guarantee Agreement (R&G Capital Trust VIII), Trust Preferred Securities Guarantee Agreement (Coastal Capital Trust I)

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Guarantee Event of Default; Notice. (a) The Trust Preferred Capital Securities Guarantee Agreement Trustee shall, within 90 days after the occurrence of a Guarantee Event of Default, mail transmit by mail, first class postage prepaid, to all Holdersthe Holders of the Capital Securities, notices of all Guarantee Events of Default actually known to a Responsible Officerthe Capital Securities Guarantee Agreement Trustee, unless such defaults have Guarantee Event of Default has been cured before the giving of such notice; provided, provided that, except in the case of a Guarantee Event of Default default in the timing or payment of any a Guarantee Payment, the Trust Preferred Capital Securities Guarantee Agreement Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or a Responsible Officer Officers of the Trust Preferred Capital Securities Guarantee Agreement Trustee in good faith determines that the withholding of such notice is in the interests of the HoldersHolders of the Capital Securities.

Appears in 1 contract

Samples: Securities Guarantee Agreement (Ocwen Financial Corp)

Guarantee Event of Default; Notice. (a) The Trust Preferred Securities Guarantee Trustee shall, within 90 days after the occurrence of a Guarantee Event of Default, mail by first class postage prepaid, to all Holders, notices of all Guarantee Events of Default actually known to a Responsible Officer, unless such defaults de faults have been cured before the giving of such notice; provided, that, except in the case of a Guarantee Event of Default in the timing or payment of any Guarantee Payment, the Trust Preferred Securities Guarantee Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or a Responsible Officer of the Trust Preferred Securities Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

Appears in 1 contract

Samples: Trust Preferred Securities Guarantee Agreement (Local Financial Capital Trust I)

Guarantee Event of Default; Notice. (a) The Trust Preferred Securities QUIPS Guarantee Agreement Trustee shall, within 90 days after the occurrence of a Guarantee Event of Default, mail transmit by mail, first class postage prepaid, to all Holdersthe Holders of the Capital Securities, notices of all Guarantee Events of Default actually known to a Responsible Officerthe QUIPS Guarantee Agreement Trustee, unless such defaults have Guarantee Event of Default has been cured before the giving of such notice; provided, thatPROVIDED THAT, except in the case of a Guarantee Event of Default default in the timing or payment of any a Guarantee Payment, the Trust Preferred Securities QUIPS Guarantee Agreement Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or a Responsible Officer Officers of the Trust Preferred Securities QUIPS Guarantee Agreement Trustee in good faith determines that the withholding of such notice is in the interests of the HoldersHolders of the Capital Securities.

Appears in 1 contract

Samples: Quips Guarantee Agreement (Amerus Life Holdings Inc)

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Guarantee Event of Default; Notice. (a) The Trust Preferred Securities QUIPS Guarantee Agreement Trustee shall, within 90 days after the occurrence of a Guarantee Event of Default, mail transmit by mail, first class postage prepaid, to all Holdersthe Holders of the Capital Securities, notices of all Guarantee Events of Default actually known to a Responsible Officerthe QUIPS Guarantee Agreement Trustee, unless such defaults have Guarantee Event of Default has been cured before the giving of such notice; provided, provided that, except in the case of a Guarantee Event of Default default in the timing or payment of any a Guarantee Payment, the Trust Preferred Securities QUIPS Guarantee Agreement Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or a Responsible Officer Officers of the Trust Preferred Securities QUIPS Guarantee Agreement Trustee in good faith determines that the withholding of such notice is in the interests of the HoldersHolders of the Capital Securities.

Appears in 1 contract

Samples: Quips Guarantee Agreement (Amerus Life Holdings Inc)

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