Common use of Rights of the Trustee Clause in Contracts

Rights of the Trustee. Notwithstanding the provisions of this ARTICLE 10 or any other provision of this CVR Agreement, the Trustee will not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution by the Trustee, and the Trustee may continue to make payments on the Securities, unless the Trustee has received at its address for notice specified in SECTION 1.5 at least five (5) Business Days prior to the date of such payment written notice of facts that would cause the payment of any Junior Obligations to violate this ARTICLE 10. Only the Company or a representative of Senior Obligations may give the notice. Nothing in this ARTICLE 10 will impair the claims of, or payments to, the Trustee under or pursuant to SECTION 4.6 hereof. The Trustee in its individual or any other capacity may hold Senior Obligations with the same rights it would have if it were not the Trustee.

Appears in 4 contracts

Samples: Contingent Value Rights Agreement (Wright Medical Group Inc), Contingent Value Rights Agreement (Wright Medical Group Inc), Contingent Value Rights Agreement (Wright Medical Group Inc)

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Rights of the Trustee. Notwithstanding the provisions of this ARTICLE Article 10 or any other provision of this CVR Agreement, the Trustee will not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution by the Trustee, and the Trustee may continue to make payments on the Securities, unless the Trustee has received at its address for notice specified in SECTION 1.5 Corporate Trust Office at least five one (51) Business Days Day prior to the date of such payment written notice of facts that would cause the payment of any Junior Obligations to violate this ARTICLE Article 10. Only the Company or a representative of Senior Obligations may give the notice. Nothing in this ARTICLE Article 10 will impair the claims of, or payments to, the Trustee under or pursuant to SECTION 4.6 hereofSection 4.7. The Trustee in its individual or any other capacity may hold Senior Obligations with the same rights it would have if it were not the Trustee.

Appears in 3 contracts

Samples: Contingent Value Rights Agreement (Akorn Inc), Contingent Value Rights Agreement (Akorn Inc), Contingent Value Rights Agreement (Akorn Inc)

Rights of the Trustee. Notwithstanding the provisions of this ARTICLE Article 10 or any other provision of this CVR Agreement, the Trustee will not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution by the Trustee, and the Trustee may continue to make payments on the Securities, unless the Trustee has received at its address for notice specified in SECTION Section 1.5 at least five (5) Business Days prior to the date of such payment written notice of facts that would cause the payment of any Junior Obligations to violate this ARTICLE Article 10. Only the Company or a representative of Senior Obligations may give the notice. Nothing in this ARTICLE Article 10 will impair the claims of, or payments to, the Trustee under or pursuant to SECTION 4.6 Section 4.7 hereof. The Trustee in its individual or any other capacity may hold Senior Obligations with the same rights it would have if it were not the Trustee.

Appears in 3 contracts

Samples: Contingent Value Rights Agreement (Celgene Corp /De/), Contingent Value Rights Agreement (Abraxis BioScience, Inc.), Contingent Value Rights Agreement (Celgene Corp /De/)

Rights of the Trustee. Notwithstanding the provisions of this ARTICLE 10 or any other provision of this CVR Agreement, the Trustee will not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution by the Trustee, and the Trustee may continue to make payments on the Securities, unless the Trustee has received at its address for notice specified in SECTION 1.5 at least five (5) Business Days prior to the date of such payment written notice of facts that would cause the payment of any Junior Obligations to violate this ARTICLE 10. Only the Company or a representative of Senior Obligations may give the notice. Nothing in this ARTICLE 10 will impair the claims of, or payments to, the Trustee under or pursuant to SECTION 4.6 4.7 hereof. The Trustee in its individual or any other capacity may hold Senior Obligations with the same rights it would have if it were not the Trustee.

Appears in 2 contracts

Samples: Contingent Value Rights Agreement (Community Health Systems Inc), Contingent Value Rights Agreement (Community Health Systems Inc)

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Rights of the Trustee. Notwithstanding the provisions of this ARTICLE 10 ARTICLE10 or any other provision of this CVR Agreement, the Trustee will not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution by the Trustee, and the Trustee may continue to make payments on the Securities, unless the Trustee has received at its address for notice specified in SECTION 1.5 at least five (5) Business Days prior to the date of such payment written notice of facts that would cause the payment of any Junior Obligations to violate this ARTICLE 10ARTICLE10. Only the Company or a representative of Senior Obligations may give the notice. Nothing in this ARTICLE 10 ARTICLE10 will impair the claims of, or payments to, the Trustee under or pursuant to SECTION 4.6 4.7 hereof. The Trustee in its individual or any other capacity may hold Senior Obligations with the same rights it would have if it were not the Trustee.

Appears in 2 contracts

Samples: Rights Agreement, Contingent Value Rights Agreement (Health Management Associates, Inc)

Rights of the Trustee. Notwithstanding the provisions of this ARTICLE Article 10 or any other provision of this CVR Agreement, the Trustee will not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or distribution by the Trustee, and the Trustee may continue to make payments on the Securities, unless the Trustee has received at its address for notice specified in SECTION Section 1.5 at least five (5) Business Days prior to the date of such payment written notice of facts that would cause the payment of any Junior Obligations to violate this ARTICLE Article 10. Only the Company or a representative of Senior Obligations may give the notice. Nothing in this ARTICLE Article 10 will impair the claims of, or payments to, the Trustee under or pursuant to SECTION 4.6 hereofSection 4.7. The Trustee in its individual or any other capacity may hold Senior Obligations with the same rights it would have if it were not the Trustee.

Appears in 2 contracts

Samples: Contingent Value Rights Agreement (Celgene Corp /De/), Contingent Value Rights Agreement (Bristol Myers Squibb Co)

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