Common use of Trustee Not Charged with Knowledge of Prohibition Clause in Contracts

Trustee Not Charged with Knowledge of Prohibition. Anything in this Article Thirteen or elsewhere in this Indenture contained to the contrary notwithstanding, the Trustee shall not at any time be charged with knowledge of the existence of any facts which would prohibit the making of any payment of moneys to or by the Trustee and shall be entitled to assume conclusively that no such facts exists and that no event specified in clauses (a) and (b) of Section 13.1 has happened unless and until the Trustee shall have received an Officers' Certificate to the effect or notice in writing to that effect signed by or on behalf of the holder or holders, or the representatives, of Senior Indebtedness who shall have been certified by the Issuer or otherwise established to the reasonable satisfaction of the Trustee to be such holder or holders or representatives or from any trustee under any indenture pursuant to which such Senior Indebtedness shall be outstanding; provided, however, that, if the Trustee shall not have received the Officers' Certificate or notice provided for in this Section 13.5 at least three Business Days preceding the date upon which by the terms hereof any moneys become payable for any purpose (including, without limitation, the payment of either the principal of or interest, if any, on any Security), then, anything herein contained to the contrary

Appears in 2 contracts

Samples: Belco Oil & Gas Corp, Belco Oil & Gas Corp

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Trustee Not Charged with Knowledge of Prohibition. Anything in this Article Thirteen or elsewhere in this Indenture contained to the contrary notwithstanding, the Trustee shall not at any time be charged with knowledge of the existence of any facts which would prohibit the making of any payment of moneys to or by the Trustee and shall be entitled to assume conclusively that no such facts exists and that no event specified in clauses (a) and (b) of Section 13.1 has happened unless and until the Trustee shall have received an Officers' Certificate to the effect or notice in writing to that effect signed by or on behalf of the holder or holders, or the representatives, of Senior Indebtedness who shall have been certified by the Issuer or otherwise established to the reasonable satisfaction of the Trustee to be such holder or holders or representatives or from any trustee under any indenture pursuant to which such Senior Indebtedness shall be outstanding; provided, however, that, if the Trustee shall not have received the Officers' Certificate or notice provided for in this Section 13.5 at least three Business Days preceding the date upon which by the terms hereof any moneys become payable for any purpose (including, without limitation, the payment of either the principal of or interest, if any, on any Security), then, anything herein contained to the contrarycontrary notwithstanding, the Trustee shall have full power and authority to receive such moneys and apply the same to the purpose for which they were received and shall not be affected by any notice to the contrary that may be received by it within three Business Days preceding such date. The Issuer shall give prompt written notice to the Trustee and to each paying agent of any

Appears in 1 contract

Samples: Seagull Energy Corp

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Trustee Not Charged with Knowledge of Prohibition. Anything Nothing contained in this Article Thirteen XIV or elsewhere in this Indenture contained other subordination provisions applicable to a series of the Securities to the contrary notwithstanding, the Trustee shall not at any time be charged with knowledge of the existence of any facts which would prohibit the making of any payment of moneys monies hereunder to or by the Trustee and shall be entitled conclusively to assume conclusively that no such facts exists exist and that no event specified in clauses Section 14.01 (aor comparable event contained in other subordination provisions applicable to a series of the Securities) and (b) of Section 13.1 has happened unless and happened, until the Trustee shall have received an Officers' Certificate to the that effect or notice in writing to that effect signed by or on behalf of the holder or holders, or the their representatives, of Senior Indebtedness who shall have been certified by the Issuer Company or otherwise established to the reasonable satisfaction of the Trustee to be such holder or holders or representatives or from any trustee under any indenture pursuant to which such Senior Indebtedness shall be outstanding; provided, however, provided that, if prior to the Trustee shall not have received the Officers' Certificate or notice provided for in this Section 13.5 at least three third Business Days Day preceding the date upon which by the terms hereof any moneys monies become payable for any purpose hereunder (including, without limitation, the payment of either the principal of or interest, if any, on any Security), then, anything herein contained to the contraryof

Appears in 1 contract

Samples: Human Genome Sciences Inc

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