Certain Duties and Responsibilities of the Trustee. (a) The Trustee's duties and responsibilities under this Indenture shall be governed by the Trust Indenture Act. (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and shall use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.
Appears in 7 contracts
Sources: Indenture (Amerus Life Holdings Inc), Indenture (Metris Companies Inc), Senior Indenture (Amerus Group Co/Ia)
Certain Duties and Responsibilities of the Trustee. (a) The Except during the continuance of an Event of Default, the Trustee's duties and responsibilities under this Indenture shall be governed by Section 315(a) of the Trust Indenture Act.
(b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture Indenture, and shall use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.
Appears in 5 contracts
Sources: Indenture (Executive Risk Inc /De/), Indenture (Southwestern Energy Co), Indenture Agreement (Public Service Co of North Carolina Inc)
Certain Duties and Responsibilities of the Trustee. (a) The Trustee's duties and responsibilities under this Indenture shall be governed by Section 315 of the Trust Indenture Act.
(b) In case a Default or an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture Indenture, and shall use the same degree of care and skill in their exercise, as a prudent man person would exercise or use under the circumstances in the conduct of his such person's own affairs.
Appears in 4 contracts
Sources: Subordinated Indenture (Mapco Inc), Senior Indenture (Mapco Inc), Subordinated Indenture (Mapco Inc)