Common use of Reliance on Officer’s Certificate Clause in Contracts

Reliance on Officer’s Certificate. Except as otherwise provided in Section 9.1, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, then, solely for purposes of determining whether the Trustee is in breach of its obligations, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established for the purposes of such administration by an Officers' Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.

Appears in 4 contracts

Samples: Indenture (American Community Bancshares Inc), Carolina Bank Holdings Inc, Southern Community Financial Corp

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Reliance on Officer’s Certificate. Except as otherwise provided in Section 9.110.1, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, then, solely for purposes of determining whether the Trustee is in breach of its obligations, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established for the purposes of such administration by an Officers' Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.

Appears in 1 contract

Samples: Southern Community Capital Trust I

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