Common use of Suits by Debentureholders Clause in Contracts

Suits by Debentureholders. No holder of any Debenture or coupon shall have the right to institute any action or proceeding or to exercise any other remedy authorized by this Trust Indenture for the purpose of enforcing any rights on behalf of the Debentureholders or for the execution of any trust or power hereunder or for the appointment of a curator or liquidator or receiver or to have the Bank wound up or to file or prove a claim in any liquidation or insolvency proceedings, unless the Trustee shall have failed to act within a reasonable time after the Debentureholders' Request referred to in section 10.07 has been delivered to the Trustee or after breach by the Bank of the covenant set forth in section 10.05 and any indemnity required by it under section 15.02 has been tendered to it; in such case, but not otherwise, any Debentureholder acting on behalf of himself and all other Debentureholders shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 10.07; it being understood and intended that no one or more holders of Debentures or coupons shall have any right in any manner whatsoever to affect, disturb or prejudice the rights hereby created by his or their action or to enforce any right hereunder or under any Debenture or coupon, except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all holders of all outstanding Debentures and coupons.

Suits by Debentureholders. No holder of any Debenture or coupon shall have the right to institute any action or proceeding or to exercise any other remedy authorized by this Trust Indenture for the purpose of enforcing any rights right on behalf of the Debentureholders or for the execution of any trust or power hereunder or for the appointment of a curator or liquidator or receiver or for a receiving order under the Bankruptcy Act or to have the Bank Corporation wound up or to file or prove a claim in any liquidation or insolvency bankruptcy proceedings, unless the Debentureholders' Request, funds and indemnity referred to in Section 8.5 have been tendered to the Trustee and the Trustee shall have failed to act within a reasonable time after the Debentureholders' Request referred to in section 10.07 has been delivered to the Trustee or after breach by the Bank of the covenant set forth in section 10.05 and any indemnity required by it under section 15.02 has been tendered to itthereafter; in such case, but not otherwise, any Debentureholder acting on behalf of himself and all other Debentureholders shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 10.07Section 8.5; it being understood and intended that no one or more holders of Debentures or coupons shall have any right in any manner whatsoever to affect, disturb or prejudice the rights hereby created by his or their action or to enforce any right hereunder or under any Debenture or couponDebenture, except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted instituted, had and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all holders of all outstanding Debentures and couponsDebentures.

Suits by Debentureholders. No holder of any Debenture or coupon shall have the right to institute any action or proceeding or to exercise any other remedy authorized by this Trust Indenture for the purpose of enforcing any rights on behalf of the Debentureholders or for the execution of any trust or power hereunder or for the appointment of a curator or liquidator or receiver or to have the Bank wound up or to file or prove a claim in any liquidation or insolvency proceedings, unless the Trustee shall have failed to act within a reasonable time after the Debentureholders' Request referred to in section 10.07 has been delivered to the Trustee or after breach by the Bank of the covenant set forth in section 10.05 and any indemnity required by it under section 15.02 has been tendered to it; in such case, but not otherwise, ; any Debentureholder acting on behalf of himself and all other Debentureholders shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 10.07; it being understood and intended that no one or more holders of Debentures or coupons shall have any right in any manner whatsoever to affect, disturb or prejudice the rights hereby created by his or their action or to enforce any right hereunder or under any Debenture or coupon, except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all holders of all outstanding Debentures and coupons.

Suits by Debentureholders. No holder of any Debenture or coupon shall have the right to institute any action or proceeding or to exercise any other remedy authorized by this Trust Indenture for the purpose of enforcing any rights on behalf of the Debentureholders or for the execution of any trust or power hereunder or for the appointment of a curator or liquidator or receiver or to have the Bank wound up or to file or prove a claim in any liquidation or insolvency proceedings, unless the Trustee shall have failed to act within a reasonable time after the Debentureholders' Request referred to in section 10.07 6.05 has been delivered to the Trustee or after breach by the Bank of the covenant set forth in section 10.05 and any indemnity required by it under section 15.02 11.02 has been tendered to it; in such case, but not otherwise, any Debentureholder acting on behalf of himself and all other Debentureholders shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 10.076.05; it being understood and intended that no one or more holders of Debentures or coupons shall have any right in any manner whatsoever to affect, disturb or prejudice the rights hereby created by his or their action or to enforce any right hereunder or under any Debenture or coupon, except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all holders of all outstanding Debentures and coupons.

Suits by Debentureholders. No holder of any Debenture or coupon shall have the right to institute any action or proceeding or to exercise any other remedy authorized by this Trust Indenture for the purpose of enforcing any rights on behalf of the Debentureholders or for the execution of any trust or power hereunder or for the appointment of a curator or liquidator or receiver or for a receiving order under bankruptcy legislation or to have the Bank Corporation wound up or to file or prove a claim in any liquidation or insolvency bankruptcy proceedings, unless the Trustee shall have failed to act within a reasonable time after the Debentureholders' ’ Request referred to in section 10.07 Section 6.03 has been delivered to the Trustee or after breach by the Bank of the covenant set forth in section 10.05 and any indemnity required by it under section 15.02 Section 11.02 has been tendered to it; in such case, but not otherwise, any Debentureholder acting on behalf of himself and all other Debentureholders shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 10.07Section 6.03; it being understood and intended that no one or more holders of Debentures or coupons shall have any right in any manner whatsoever to affect, disturb or prejudice the rights hereby created by his or their action or to enforce any right hereunder or under any Debenture or coupon, except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted instituted, had and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all holders of all outstanding Debentures and coupons.

Suits by Debentureholders. No holder of any Debenture or coupon shall have the right to institute any action or proceeding proceedings or to exercise any other remedy authorized by this Trust Indenture for the purpose of enforcing any rights on behalf of the Debentureholders right hereunder or under any Debenture or for the execution of any trust or power hereunder or for the appointment of a curator or liquidator or receiver or for a receiving order under any bankruptcy legislation or to have the Bank Company wound up or to file or prove a claim in any liquidation or insolvency bankruptcy proceedings, unless a Debentureholders’ Request or Extraordinary Resolution and indemnity referred to in section 13.01 have been tendered to the Trustee and the Trustee shall have failed to act within a reasonable time after the Debentureholders' Request referred to in section 10.07 has been delivered to the Trustee or after breach by the Bank of the covenant set forth in section 10.05 and any indemnity required by it under section 15.02 has been tendered to itthereafter; in such case, but not otherwise, any Debentureholder acting on behalf of himself and all other Debentureholders shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 10.078.04; it being understood and intended that no one or more holders Holders of Debentures or coupons shall have any right in any manner whatsoever to affect, disturb or prejudice the rights hereby created by his or their action action, or to enforce any right hereunder or under any Debenture or coupon, except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted instituted, had and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all holders Holders of all outstanding Debentures and couponsDebentures.