Controlling Trustees definition
Examples of Controlling Trustees in a sentence
The Administrative Agent shall be entitled to request instructions from the Controlling Trustees as to general guidelines or principles to be followed in preparing Draft Accounts and as to amending or supplementing any such guidelines or principles.
The Administrative Agent shall authorize payment of bills and expenses (i) payable to legal and professional advisers authorized to be engaged or consulted pursuant to this Agreement or (ii) approved by the Controlling Trustees.
The Administrative Agent shall prepare the Draft Accounts in accordance with GAAP unless otherwise required by Applicable Law and specified by the Controlling Trustees.
The Trustee may accept a copy of a resolution of, in the case of the Issuer, the Controlling Trustees and, in the case of any other party to any Related Document, the governing body of such Person, certified in an accompanying Officer’s Certificate as duly adopted and in full force and effect, as conclusive evidence that such resolution has been duly adopted and that the same is in full force and effect.
The meetings and proceedings of any such committee consisting of one or more persons shall be governed by the provisions of this Trust Agreement regulating the meetings and proceedings of the Controlling Trustees, so far as the same are applicable and are not superseded by any regulations made by the Trustees under this Trust Agreement.
Notwithstanding anything to the contrary in this Indenture, the Concentration Limits (including the list of Prohibited Countries) may be adjusted by the Issuer from time to time with the unanimous approval of the Controlling Trustees and notice to the Rating Agencies.
The Administrative Agent shall prepare the Draft Accounts in accordance with U.S. GAAP unless otherwise required by Applicable Law and specified by the Controlling Trustees.
The Issuer has not engaged in any activities since its formation (other than those incidental to its formation and other appropriate trust steps and arrangements for the payment of fees to, and director’s and officer’s insurance for, the Controlling Trustees, the authorization and the issuance of the Initial Notes, the execution of the Related Documents and the activities referred to in or contemplated by such agreements).
The Controlling Trustees shall possess and be entitled in their discretion to exercise all rights and power to vote with respect to any lawful action to be taken by the Controlling Trustees, except as otherwise provided herein.
Any committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the Controlling Trustees.