The Indenture Trustee Clause Examples
The "Indenture Trustee" clause defines the role, responsibilities, and authority of the trustee appointed under an indenture agreement, typically in the context of a bond issuance or similar debt instrument. This clause outlines the trustee's duties, such as safeguarding the interests of bondholders, managing the flow of funds, and enforcing the terms of the indenture on behalf of the investors. For example, the trustee may be responsible for distributing interest payments, monitoring compliance with covenants, and taking action in the event of a default. The core function of this clause is to ensure that there is a neutral third party overseeing the administration of the indenture, thereby protecting the rights of the bondholders and providing a mechanism for collective action if issues arise.
POPULAR SAMPLE Copied 3 times
The Indenture Trustee. Section 6.01.
The Indenture Trustee. 31 SECTION 6.1 Duties of Indenture Trustee...........................................................31 SECTION 6.2 Rights of Indenture Trustee...........................................................32 SECTION 6.3 Individual Rights of Indenture Trustee................................................32 SECTION 6.4 Indenture Trustee's Disclaimer........................................................32 SECTION 6.5
The Indenture Trustee. Section 6.1 Duties of Indenture Trustee 46 Section 6.2 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54
The Indenture Trustee. (a) The Indenture Trustee, in the performance of its duties hereunder, and in the exercise or lack of exercise of any and all of its rights and privileges hereunder, will be entitled to all rights and protections afforded to it in its capacity as Indenture Trustee under the Indenture as if such rights and protections were expressly set forth herein, including but not limited to all rights and protections (including all rights to indemnification), and all limitations of liability afforded to the Indenture Trustee pursuant to Article VI thereof. To the extent there is a conflict between this Agreement and the Indenture relating to the rights and protections afforded to the Indenture Trustee hereunder and the thereunder, the terms of the Indenture will control.
(b) No provision of this Agreement will require the Indenture Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it will have reasonable grounds to believe that repayment of such funds or indemnity satisfactory to it against such risk or liability is not reasonably assured to it.
(c) Any resignation or removal of the Indenture Trustee pursuant to the Indenture will automatically result in the removal of the Indenture Trustee hereunder without need for delivery of any notice thereof.
(d) The Indenture Trustee will have no duty, obligation or liability to monitor, supervise or perform the obligations of the Issuer and the Capital Contribution Provider or any other Person under this Agreement or the Transaction Documents.
(e) The parties hereto acknowledge that in accordance with AML Law, the Indenture Trustee is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Indenture Trustee. Each party hereby agrees that, to the extent required to comply with any applicable requirements of AML Law, it will provide the Indenture Trustee with such identifying information and documentation in its possession as the Indenture Trustee, may request from time to time.
The Indenture Trustee. 41 Section 6.01. Duties of Indenture Trustee..............................................................41 Section 6.02.
The Indenture Trustee. (i) shall at all times be a “participant” (as such term is defined in the Federal Book-Entry Regulations) in the Federal Reserve System;
(ii) shall, to the extent that any of the Trust Accounts is a Securities Account, comply with all of the obligations of a Securities Intermediary under Article 8 of the UCC with respect thereto; and
(iii) agrees that each item of property including cash received by it for deposit in or credit to a Trust Account, and each investment made by it pursuant to Section 8.6 shall constitute and be treated by it as a Financial Asset.
The Indenture Trustee. Section 6.01 Duties of Indenture Trustee 36 Section 6.02 Representations and Warranties of the Indenture Trustee 38 Section 6.03 Rights of Indenture Trustee 39 Section 6.04 Individual Rights of Indenture Trustee 40 Section 6.05 Indenture Trustee’s Disclaimer 40 Section 6.06 Notice of Defaults 40 Section 6.07 Reports by Indenture Trustee to Holders 40 Section 6.08 Compensation and Indemnity 41 Section 6.09 Replacement of Indenture Trustee 41 Section 6.10 Successor Indenture Trustee by Merger 42 Section 6.11 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 43 Section 6.12 Eligibility; Disqualification 43 Section 6.13 [Reserved] 44 Section 6.14 Preferential Collection of Claims Against Issuer 44 Section 6.15 Waiver of Setoffs 44 ii (2020-C Indenture) TABLE OF CONTENTS (continued)
The Indenture Trustee. 35 Section 6.01
The Indenture Trustee. Section 6.1 Duties of Indenture Trustee 51 Section 6.2 Rights of Indenture Trustee 53 Section 6.3 Individual Rights of Indenture Trustee 53 Section 6.4 Indenture Trustee’s Disclaimer 54 Section 6.5 Notice of Defaults 54 Section 6.6 Reports by Indenture Trustee to Holders 54
The Indenture Trustee. SECTION 6.1 Certain Duties and Responsibilities.............................................52 SECTION 6.2 Certain Rights of the Indenture Trustee.........................................53 SECTION 6.3 Not Responsible for Recitals, Validity of the Notes or Application of the Proceeds.....................................................55 SECTION 6.4 May Hold Notes; Collections, Etc................................................55 SECTION 6.5 Funds Held By Indenture Trustee.................................................55 SECTION 6.6 Compensation; Reimbursement; Indemnification....................................55 SECTION 6.7 Corporate Trustee Required; Eligibility.........................................56 SECTION 6.8 Resignation and Removal; Appointment of Successor Trustee.......................57 SECTION 6.9 Acceptance of Appointment by Successor Trustee..................................59 SECTION 6.10 Merger, Conversion, Consolidation or Succession to Business of Indenture Trustee............................................................60 SECTION 6.11 Limitations on Rights of Indenture Trustee as Creditor..........................61