Common use of Qualification of Trustee; Conflicting Interests Clause in Contracts

Qualification of Trustee; Conflicting Interests. This Indenture shall always have a Trustee who satisfies the requirements of Section 310(a)(1) of the Trust Indenture Act of 1939. The Trustee shall have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with Section 310(b) of the Trust Indenture Act of 1939 regarding disqualification of a trustee upon acquiring a conflicting interest.

Appears in 31 contracts

Samples: Senior Indenture (Hovnanian Enterprises Inc), Hovnanian Enterprises Inc, Hovnanian Enterprises Inc

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