Common use of Obligations of the Trustee Clause in Contracts

Obligations of the Trustee. (a) The Trustee, before the occurrence of any default with respect to the Trust Preferred Securities and after the curing or waiver of all such defaults that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Trust Agreement and no implied covenants shall be read into this Trust Agreement against the Trustee. In case any default with respect to the Trust Preferred Securities has occurred (that has not been cured or waived pursuant to Section 2.06) of which an officer of the Trustee responsible for the administration of this Trust Agreement has actual knowledge, the Trustee shall exercise such of the rights and powers vested in it by this Trust Agreement, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. Subject to these requirements, the Trustee shall be under no obligation to exercise any of the powers vested in it by this Trust Agreement or conferred on the Trustee as holder of the [Company Preferred Securities][Subordinated Notes] [Eligible Investments] [and related rights under the Subordinated Guarantee] at the direction of the Holders, unless such Holders offer the Trustee reasonable indemnity against all costs, expenses and liabilities that might be incurred by exercising those powers.

Obligations of the Trustee. (a) The Trustee, before the occurrence of any default with respect to the Trust Preferred Securities and after the curing or waiver of all such defaults that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Trust Agreement and no implied covenants shall be read into this Trust Agreement against the Trustee. In case any default with respect to the Trust Preferred Securities has occurred (that has not been cured or waived pursuant to Section 2.06) of which an officer of the Trustee responsible for the administration of this Trust Agreement has actual knowledge, the Trustee shall exercise such of the rights and powers vested in it by this Trust Agreement, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. Subject to these requirements, the Trustee shall be under no obligation to exercise any of the powers vested in it by this Trust Agreement or conferred on the Trustee as holder of the [Company Preferred Securities][Subordinated Notes] [Eligible Investments] [Securities and related rights under the Subordinated Guarantee] Guarantee at the direction of the Holders, unless such Holders offer the Trustee reasonable indemnity against all costs, expenses and liabilities that might be incurred by exercising those powers.