Common use of Persons Eligible for Appointment as Trustee Clause in Contracts

Persons Eligible for Appointment as Trustee. The Trustee for each Series of Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state or the District of Columbia having a combined capital and surplus of at least $100,000,000 and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federal, state or District of Columbia authority and which has a Corporate Trust Office in any state of the United States of America. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.09, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.09, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. Neither the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this Indenture.

Appears in 7 contracts

Samples: Alerus Financial Corp, MidWestOne Financial Group, Inc., Indenture (First Busey Corp /Nv/)

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Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state or the District of Columbia having a combined capital and surplus of at least $100,000,000 50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federal, state or District of Columbia authority and which has authority, or a Corporate Trust Office in any state of corporation or other Person permitted to act as trustee by the United States of AmericaCommission. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.09Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. No obligor upon the Securities or any Affiliate of such obligor shall serve as trustee upon the Securities. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.096.9, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. Neither the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this Indenture.

Appears in 7 contracts

Samples: Senior Indenture (Seagull Energy Corp), Belco Oil & Gas Corp, Ocean Energy Inc /La/

Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state State or the District of Columbia having a combined capital and surplus of at least $100,000,000 50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federalFederal, state State or District of Columbia authority and which has a Corporate Trust Office in any state of the United States of Americaauthority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.09Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. At no time shall the Trustee be an obligor, or directly or indirectly, control, be controlled by, or under the common control with any obligor upon any Securities issued hereunder. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.09Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.106.9. Neither The provisions of this Section 6.8 are in furtherance of and subject to Section 310(a) of the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this IndentureTrust Indenture Act of 1939.

Appears in 4 contracts

Samples: Indenture (Freeport McMoran Copper & Gold Inc), McMoran Exploration Co /De/, Freeport McMoran Copper & Gold Inc

Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state or the District of Columbia having a combined capital and surplus of at least $100,000,000 50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federal, state or District of Columbia authority and which has authority, or a Corporate Trust Office in any state of corporation or other Person permitted to act as trustee by the United States of AmericaCommission. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.096.9, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. No obligor upon the Securities or any Affiliate of such obligor shall serve as Trustee upon the Securities. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.096.9, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. Neither the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this Indenture.

Appears in 4 contracts

Samples: Indenture (Service Corporation International), Service Corporation International, Service Corporation International

Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state or the District of Columbia having a combined capital and surplus of at least $100,000,000 50,000,000 and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federal, state or District of Columbia authority and which has authority, or a Corporate Trust Office in any state of corporation or other Person permitted to act as trustee by the United States of AmericaCommission. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.097.11, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. No obligor upon the Securities or any Affiliates of such obligor shall serve as Trustee upon the Securities. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.097.11, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. Neither the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this Indenture7.09.

Appears in 3 contracts

Samples: Loewen Group International Inc, Loewen Group International Inc, Loewen Group International Inc

Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state or the District of Columbia having a combined capital and surplus of at least $100,000,000 50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federal, state or District of Columbia authority and which has authority, or a Corporate Trust Office in any state of corporation or other Person permitted to act as trustee by the United States of AmericaCommission. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.09Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. No obligor upon the Securities or any Affiliate of such obligor shall serve as trustee upon the Securities. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.09, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. Neither the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this Indenture.Section

Appears in 1 contract

Samples: Ocean Energy Inc /Tx/

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Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state State or the District of Columbia having a combined capital and surplus of at least $100,000,000 5,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federalFederal, state State or District of Columbia authority and which has a Corporate Trust Office in any state of the United States of Americaauthority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.09Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. At no time shall the Trustee be an obligor or directly or indirectly control, be controlled by, or under common control with any obligor upon any Securities of any series issued under this Indenture. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.09Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. Neither the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this Indenture.

Appears in 1 contract

Samples: Indenture (Freeport McMoran Resource Partners Limited Partnership)

Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Securities hereunder shall at all times be a corporation or banking association organized and doing business under the laws of the United States of America or of America, any state State thereof or the District of Columbia Columbia, having a combined capital and surplus of at least $100,000,000 50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federalFederal, state or District of Columbia authority and which has a Corporate Trust Office in any state of the United States of Americaauthority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.096.10, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. No obligor upon the Securities or Person directly or indirectly controlling, controlled by, or under common control with such obligor shall serve as Trustee upon such Securities. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.096.10, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.106.11. Neither The provisions of this Section 6.10 are in furtherance of and subject to Section 310(a) of the Company nor any other obligor upon the Securities shall serve as the Trustee pursuant to this IndentureTrust Indenture Act.

Appears in 1 contract

Samples: Indenture (Oglethorpe Power Corp)

Persons Eligible for Appointment as Trustee. The Trustee for each Series series of Debt Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any state State or the District of Columbia having a combined capital and surplus of at least $100,000,000 50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federalFederal, state State or District of Columbia authority and which has a Corporate Trust Office in any state of the United States of Americaauthority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.09Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Issuer may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Issuer, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.09Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. Neither the Company nor So long as any other obligor upon the Debt Securities are outstanding, there shall serve as the at all times be a Trustee pursuant to this Indenturehereunder.

Appears in 1 contract

Samples: Financial Security Assurance Holdings LTD/Ny/

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