Common use of Powers and Duties of the Guarantee Trustee Clause in Contracts

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee for the benefit of the Holders, and the Guarantee Trustee shall not transfer this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee. The right, title and interest of the Guarantee Trustee shall automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor Guarantee Trustee of its appointment hereunder, and such vesting and cessation of title shall be effective whether or not conveying documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trustee.

Appears in 8 contracts

Samples: Guarantee Agreement (Redwood Capital Trust Ii), Guarantee Agreement (Sempra Energy Capital Trust Ii), Guarantee Agreement (Sempra Energy Global Enterprises)

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Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders, and the . The Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee TrusteeTrustee or to a Holder exercising his or her rights pursuant to Section 5.04(iv). The right, title and interest of the Guarantee Trustee to this Guarantee Agreement shall vest automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor each Person who may hereafter be appointed as Guarantee Trustee of its appointment hereunder, and such in accordance with Article IV. Such vesting and cessation of title shall be effective whether or not conveying conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trusteedelivered.

Appears in 8 contracts

Samples: Guarantee Agreement (Centex Corp), Guarantee Agreement (Raytheon Co/), Guarantee Agreement (Raytheon Co/)

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders, and the . The Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee TrusteeTrustee or to a Holder exercising his or her rights pursuant to Section 5.04(iv). The right, title and interest of the Guarantee Trustee to this Guarantee Agreement shall vest automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor each Person who may hereafter be appointed as Guarantee Trustee of its appointment hereunder, and such in accordance with Article 4. Such vesting and cessation of title shall be effective whether or not conveying conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trusteedelivered.

Appears in 6 contracts

Samples: Guarantee Agreement (Litchfield Capital Trust Ii), Guarantee Agreement (Pogo Producing Co), Guarantee Agreement (Cinergy Corp)

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee on behalf of the Issuer for the benefit of the Holders, and Holders of the Preferred Securities. The Guarantee Trustee shall not transfer this its right, title and interest in the Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee TrusteeTrustee or to a Holder of Preferred Securities exercising his or her rights pursuant to Section 5.4. The right, title and interest of the Guarantee Trustee to the Guarantee Agreement shall vest automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor each Person who may hereafter be appointed as Guarantee Trustee of its appointment hereunder, and such in accordance with Article IV. Such vesting and cessation of title shall be effective whether or not conveying conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trusteedelivered.

Appears in 6 contracts

Samples: Form of Guarantee Agreement (Odyssey Re Holdings Corp), Form of Guarantee Agreement (Ford Motor Co), Guarantee Agreement (Ford Motor Co)

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders, and the . The Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee TrusteeTrustee or to a Holder exercising his or her rights pursuant to Section 5.4(iv). The right, title and interest of the Guarantee Trustee to this Guarantee Agreement shall vest automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor each Person who may hereafter be appointed as Guarantee Trustee of its appointment hereunder, and such in accordance with Article IV. Such vesting and cessation of title shall be effective whether or not conveying conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trusteedelivered.

Appears in 2 contracts

Samples: Guarantee Agreement (Conoco Inc /De), Guarantee Agreement (Marathon Financing Trust I)

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Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee for the benefit of the Holders, and the Guarantee Trustee shall not transfer this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee. The right, title and interest of the Guarantee Trustee shall automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor Guarantee Trustee of its appointment hereunder, and such vesting and cessation of title shall be effective whether or not conveying documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trustee.be

Appears in 1 contract

Samples: Guarantee Agreement (Chase Capital Iii)

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders, and the . The Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee TrusteeTrustee or to a Holder exercising his or her rights pursuant to Section 5.04(iv). The right, title and interest of the Guarantee Trustee to this Guarantee Agreement shall vest automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor each Person who may hereafter be appointed as Guarantee Trustee of its appointment hereunder, and such in accordance with Article IV. Such vesting and cessation of title shall be effective whether or not conveying documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trusteedelivered.

Appears in 1 contract

Samples: Guarantee Agreement (Abacoa Homes Inc)

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders, and the . The Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustees of its appointment to act as Guarantee Trustee or to a Holder exercising his or her rights pursuant to Section 5.4(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee). The right, title and interest of the Guarantee Trustee to this Guarantee Agreement shall vest automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor each Person who may hereafter be appointed as Guarantee Trustee of its appointment hereunder, and such in accordance with Article IV. Such vesting and cessation of title shall be effective whether or not conveying conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trusteedelivered.

Appears in 1 contract

Samples: Guarantee Agreement (Goodyear Capital Trust I)

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