Common use of Trust Indenture Act Requirements Clause in Contracts

Trust Indenture Act Requirements. The release of any Collateral from the Lien of any of the Security Documents or the release of, in whole or in part, the Liens created by any of the Security Documents will not be deemed to impair the security interests in contravention of the provisions hereof if and to the extent the Collateral or Liens are released pursuant to the applicable Security Documents and pursuant to the terms hereof. The Trustee and each of the Holders acknowledge that a release of Collateral or Liens strictly in accordance with the terms of the Security Documents and the terms hereof will not be deemed for any purpose to be an impairment of the Security Interests in contravention of the terms of this Indenture. To the extent applicable, the Issuer will comply with the provisions of Trust Indenture Act §314(b) and Trust Indenture Act §314(d). Any certificate or opinion required by Trust Indenture Act §314(d) may be made by an Officer of the Issuer except in cases where Trust Indenture Act §314(d) requires that such certificate or opinion be made by an independent engineer, appraiser or other expert, who shall be reasonably satisfactory to the Trustee. Notwithstanding anything to the contrary in this Indenture or in any Security Document, the Issuer and the Subsidiary Guarantors will not be required to comply with all or any portion of Trust Indenture Act §314(d) if they determine, in good faith based on advice of counsel (which may be internal counsel), that under the terms of that section and/or any interpretation or guidance as to the meaning thereof of the Commission and its staff, including “no action” letters or exemptive orders, all or any portion of Trust Indenture Act §314(d) is inapplicable to the released Collateral. To the extent the Issuer is required to furnish to the Trustee an Opinion of Counsel pursuant to Trust Indenture Act §314(b)(2), the Issuer will furnish such opinion prior to each anniversary of the Issue Date.

Trust Indenture Act Requirements. The release of any Collateral from the Lien of any of the Security Documents or the release of, in whole or in part, the Liens created by any of the Security Documents will not be deemed to impair the security interests in contravention of the provisions hereof if and to the extent the Collateral or Liens are released pursuant to the applicable Security Documents and pursuant to the terms hereof. The Trustee and each of the Holders acknowledge that a release of Collateral or Liens strictly in accordance with the terms of the Security Documents Intercreditor Agreement and the Collateral Trust Agreement and the terms hereof will not be deemed for any purpose to be an impairment of the Security Interests in contravention of the terms of this Indenture. To the extent applicable, the Issuer will comply with the provisions of Trust Indenture Act §314(b) and Trust Indenture Act §314(d). Any certificate or opinion required by Trust Indenture Act §314(d) may be made by an Officer of the Issuer except in cases where Trust Indenture Act §314(d) requires that such certificate or opinion be made by an independent engineer, appraiser or other expert, who shall be reasonably satisfactory to the Trustee. Notwithstanding anything to the contrary in this Indenture or in any Security DocumentIntercreditor Agreement or the Collateral Trust Agreement, the Issuer and the Subsidiary Guarantors will not be required to comply with all or any portion of Trust Indenture Act §314(d) if they determine, in good faith based on advice of counsel (which may be internal counsel), that under the terms of that section and/or any interpretation or guidance as to the meaning thereof of the Commission and its staff, including “no action” letters or exemptive orders, all or any portion of Trust Indenture Act §314(d) is inapplicable to the released Collateral. To the extent the Issuer is required to furnish to the Trustee an Opinion of Counsel pursuant to Trust Indenture Act §314(b)(2), the Issuer will furnish such opinion prior to each anniversary of the Issue Date.