Common use of Responsibility of Trustee for Conversion Provisions Clause in Contracts

Responsibility of Trustee for Conversion Provisions. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether any facts exist which may require any adjustment of the Conversion Rate, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same, or whether a supplemental indenture need be entered into. The Trustee shall not be accountable with respect to the validity or value (or the kind or amount) of any Common Stock, or of any other securities or property or cash, which may at any time be issued or delivered upon the conversion of any Security; and it or they do not make any representation with respect thereto. The Trustee shall not be responsible for any failure of the Company to make or calculate any cash payment or to issue, transfer or deliver any shares of Common Stock or share certificates or other securities or property or cash upon the surrender of any Security for the purpose of conversion; and the Trustee shall not be responsible for any failure of the Company to comply with any of the covenants of the Company contained in this Article. 66

Appears in 1 contract

Samples: Indenture (Interim Services Inc)

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Responsibility of Trustee for Conversion Provisions. The Trustee and any Conversion Agent shall not at any time be under any duty or responsibility to any Holder of Securities to determine whether any facts exist which that may require any adjustment of the Conversion RatePrice, or with respect to the nature or extent intent of any such adjustment adjustments when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same, or whether a supplemental indenture need be entered into. The Neither the Trustee nor any Conversion Agent shall not be accountable with respect to the validity or value (or of the kind or amount) of any Common Stock, or of any other securities or property or cashproperty, which that may at any time be issued or delivered upon the conversion of any Security; and it or they do not make any representation with respect thereto. The Neither the Trustee nor any Conversion Agent shall not be responsible for any failure of the Company to make or calculate any cash payment or to issue, transfer or deliver any shares of Common Stock stock or share certificates or other securities or property or cash upon the surrender of any Security for the purpose of conversion; and the Trustee and any Conversion Agent shall not be responsible or liable for any failure of the Company to comply with any of the covenants of the Company contained in this Article. 66.

Appears in 1 contract

Samples: Indenture (Dov Pharmaceutical Inc)

Responsibility of Trustee for Conversion Provisions. The Trustee and any Conversion Agent shall not at any time be under any duty or responsibility to any Holder of Notes to determine whether any facts exist which may require any adjustment of the Conversion RatePrice, or with respect to the nature or extent intent of any such adjustment adjustments when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same, or whether a supplemental indenture need be entered into. The Neither the Trustee nor any Conversion Agent shall not be accountable with respect to the validity or value (or of the kind or amount) of any Common Stock, or of any other securities or property or cashproperty, which may at any time be issued or delivered upon the conversion of any SecurityNote; and it or they do not make any representation with respect thereto. The Neither the Trustee nor any Conversion Agent shall not be responsible for any failure of the Company to make or calculate any cash payment or to issue, transfer or deliver any shares of Common Stock stock or share certificates or other securities or property or cash upon the surrender of any Security Note for the purpose of conversion; and the Trustee and any Conversion Agent shall not be responsible or liable for any failure of the Company to comply with any of the covenants of the Company contained in this Article. 66.

Appears in 1 contract

Samples: Indenture (Openwave Systems Inc)

Responsibility of Trustee for Conversion Provisions. The Trustee and the Conversion Agent shall not at any time be under any duty or responsibility to any Holder of Debentures to determine whether any facts exist which may require any adjustment of the Conversion RatePrice, or with respect to the nature or extent intent of any such adjustment adjustments when made, or with respect to the method employed, or herein or in any other supplemental indenture provided to be employed, in making the same, or whether a supplemental indenture need be entered into. The Neither the Trustee nor the Conversion Agent shall not be accountable with respect to the validity or value (or of the kind or amount) of any Common Stock, or of any other securities or property or cashproperty, which may at any time be issued or delivered upon the conversion of any SecurityDebenture; and it or they do not make any representation with respect thereto. The Neither the Trustee nor the Conversion Agent shall not be responsible for any failure of the Company to make or calculate any cash payment or to issue, transfer or deliver any shares of Common Stock stock or share certificates or other securities or property or cash upon the surrender of any Security Debenture for the purpose of conversion; and the Trustee and the Conversion Agent shall not be responsible or liable for any failure of the Company to comply with any of the covenants of the Company contained in this Article. 66.

Appears in 1 contract

Samples: Kerr McGee Corp

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Responsibility of Trustee for Conversion Provisions. The Neither the Trustee nor any Conversion Agent shall not at any time be under any duty or responsibility to any Holder holder to determine whether any facts exist which may require any adjustment of the Conversion Rateconversion price, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same, or whether a supplemental indenture need be entered into. The Neither the Trustee nor any Conversion Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, Stock or of any other securities or property or cash, cash which may at any time be issued or delivered upon the conversion of any Security0000 Xxxxxxxxx; and it or they do not make neither the Trustee nor any Conversion Agent makes any representation with respect thereto. The Neither the Trustee nor any Conversion Agent shall not be responsible for any failure of the Company to make or calculate any cash payment or to issue, transfer or deliver any shares of Common Stock or share stock certificates or other securities or property or cash upon the surrender of any Security 2015 Debenture for the purpose of conversion; and the Trustee shall not be responsible for any failure , or, subject to Section 601 of the Company Indenture, to comply with any of the covenants of the Company contained in this Article. 66Article Fourteen.

Appears in 1 contract

Samples: Supplemental Indenture (Corning Inc /Ny)

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