Common use of Authority to Carry on Business Clause in Contracts

Authority to Carry on Business. The Debenture Trustee represents to the Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2.

Appears in 1 contract

Samples: Convertible Debenture Indenture (Transglobe Energy Corp)

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Authority to Carry on Business. The Debenture Indenture Trustee represents to the Corporation Trust that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1511.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Indenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province Provinces of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.211.2.

Appears in 1 contract

Samples: Trust Indenture (Baytex Energy Trust)

Authority to Carry on Business. The Debenture Trustee represents to the Corporation Trust that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1514.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.214.2.

Appears in 1 contract

Samples: Trust Indenture (Penn West Energy Trust)

Authority to Carry on Business. The Debenture Trustee represents to the Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province provinces of Alberta and British Columbia but if, notwithstanding the provisions of this Section 15.1513.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.213.2.

Appears in 1 contract

Samples: Indenture (Sundial Growers Inc.)

Authority to Carry on Business. The Debenture Trustee represents to the Corporation FCE and ExchangeCo that at the date of execution and delivery by it of this Indenture Agreement it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.156.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture Agreement and the securities issued hereunder Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.2Article 10.

Appears in 1 contract

Samples: Combination Agreement (Fuelcell Energy Inc)

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Authority to Carry on Business. The Debenture Trustee represents to the Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.1515.9, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.215.6.

Appears in 1 contract

Samples: Indenture (PENGROWTH ENERGY Corp)

Authority to Carry on Business. The Debenture Trustee represents to the Corporation that at the date of execution and delivery by it of this Indenture it is authorized to carry on the business of a trust company in the Province of Alberta but if, notwithstanding the provisions of this Section 15.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Indenture and the securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of trust company in the Province of Alberta, either become so authorized or resign in the manner and with the effect specified in Section 15.215.2 .

Appears in 1 contract

Samples: Convertible Debenture Indenture (Transglobe Energy Corp)

Authority to Carry on Business. The Debenture Trustee represents to the Corporation that at the date of execution and delivery by it of this Note Indenture it is authorized to carry on the business of a trust company corporation in the Province of Alberta Alberta, but if, notwithstanding the provisions of this Section 15.15section 11.15, it ceases to be so authorized to carry on business, the validity and enforceability of this Note Indenture and the securities issued hereunder Notes shall not be affected in any manner whatsoever by reason only of such event event, but the Debenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company corporation in the Province of Alberta, Alberta either become so authorized or resign in the manner and with the effect specified in Section 15.2section 11.2.

Appears in 1 contract

Samples: Note Indenture (Enterra Energy Trust)

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