Common use of Permitted Acts Clause in Contracts

Permitted Acts. Any Fiduciary may become the owner of any Bonds and may otherwise deal with the Trust with the same rights it would have if it were not a Fiduciary. To the extent permitted by law, the Master Trustee may act as depositary for, and permit any of its officers or directors to act as a member of, or in any other capacity with respect to, any committee formed to protect the rights of Registered Owners or to effect or aid in any reorganization growing out of the enforcement of the Bonds or this Trust Agreement, whether or not any such committee shall represent the Registered Owners of a majority in principal amount of the Senior Bonds Outstanding or the Registered Owners of a majority in principal amount of the Subordinate Bonds Outstanding.

Permitted Acts. Any Fiduciary may become the owner of any Bonds and may otherwise deal with the Trust Authority with the same rights it would have if it were not a Fiduciary. To the extent permitted by law, the Master Trustee may act as depositary for, and permit any of its officers or directors to act as a member of, or in any other capacity with respect to, any committee formed to protect the rights of Registered Owners or to effect or aid in any reorganization growing out of the enforcement of the Bonds or this Trust Agreement, whether or not any such committee shall represent the Registered Owners of a majority in principal amount of the Senior Bonds Outstanding or the Registered Owners of a majority in principal amount of the Subordinate Subordinated Bonds Outstanding.