Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if (a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or (b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 23 contracts
Sources: Indenture (Eplus Inc), Indenture (Teledyne Technologies Inc), Indenture (Teledyne Technologies Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of for an express trust, may institute a judicial proceeding for the collection of the sums sum so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities of that series and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the SecuritiesSecurities of that series, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 22 contracts
Sources: Indenture (New York Times Co), Indenture (FMC Corp), Indenture (New York Times Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security of any series when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security of any series at the Maturity thereof, then or
(3) default is made in the payment of any sinking or analogous obligation when the same becomes due by the terms of the Securities of any series, and any such default continues for any period of grace provided with respect to the Securities of such series, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce secure any other proper remedy.
Appears in 19 contracts
Sources: Senior Debt Indenture (Interpublic Group of Companies, Inc.), Subordinated Debt Indenture (Interline Brands, Inc./De), Senior Debt Indenture (Interline Brands, Inc./De)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Issuer covenants that if:
(a1) default is made in the payment of any installment of interest on any Security the Note when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security the Note at the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securitiesthe Notes, the whole amount then due and payable on such Securities the Notes for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such Securitiesborne by the Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Issuer, any Guarantor or any other obligor upon the Securities Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer, any Guarantor or any other obligor upon the SecuritiesNotes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture and the Guarantees by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, including seeking recourse against any Guarantor, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, including seeking recourse against any Guarantor.
Appears in 14 contracts
Sources: Indenture (PennyMac Financial Services, Inc.), Indenture (PennyMac Financial Services, Inc.), Indenture (PennyMac Financial Services, Inc.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company and each Guarantor covenants that if
(ai) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(bii) default is made in the payment of the principal of (or premium, if any, on) any Security on the due date for payment thereof, including, with respect to any Security required to have been purchased pursuant to a Change of Control Offer or an Asset Sale Offer made by the Company, at the Maturity Purchase Date thereof, then the Company or such Guarantor will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such provided by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If In addition to the Company fails to pay such amounts forthwith upon such demandrights and powers set forth in Section 317(a) of the Trust Indenture Act, the Trustee, Trustee shall be entitled to file such other papers or documents as may be necessary or advisable in its own name order to have the claims of the Trustee and as trustee of an express trust, may institute a the Holders of the Securities allowed in any judicial proceeding for relative to the collection of the sums so due and unpaidCompany, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Guarantor or any other obligor upon the Securities, wherever situatedits creditors, or its property, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for compensation and expenses, including counsel fees incurred by it up to the date of such distribution. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 13 contracts
Sources: Indenture (United Rentals Inc /De), Indenture (United Rentals Inc /De), Indenture (United Rentals Gulf Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on upon any Security when such interest it becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity, or
(3) default is made in the Maturity thereofmaking or satisfaction of any mandatory sinking fund payment when it becomes due pursuant to the terms of the Securities of any series, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may may, but shall not be obligated to, institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 13 contracts
Sources: Indenture (Midamerican Energy Co), Indenture (Midamerican Energy Co), Indenture (Midamerican Energy Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 12 contracts
Sources: Indenture (Verb Technology Company, Inc.), Indenture (Tevogen Bio Holdings Inc.), Indenture (EyePoint Pharmaceuticals, Inc.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any installment of interest on or any Additional Amounts payable in respect of any Security when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofits Maturity, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and Additional Amounts, if any, with interest upon the overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, upon overdue installments of interest on or any overdue principal and premium and on any overdue interestAdditional Amounts, at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 11 contracts
Sources: Indenture (UAG Chantilly AU, LLC), Indenture (Tenneco Inc), Indenture (Tenneco Automotive Operating Co Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. (a) The Company covenants that if:
(ai) default is shall be made in the payment of any installment of interest on any Security when such interest becomes the same shall become due and payable payable, and such default continues shall have continued for a the period of 30 days, or,
(bii) default is shall be made in the payment of the principal of (or premium, if any, on) on any Security as and when the same shall have become due and payable (subject to clause (iii) below), whether at Maturity of the Maturity thereofSecurity or upon redemption or by declaration or otherwise, then and such default shall have continued for any period of grace provided for with respect to such Security, or
(iii) default shall be made in the payment for any sinking, purchase or analogous fund provided for in respect of any Security as and when the same shall become due and payable, and such default shall have continued for any period of grace provided for with respect to such Security, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue installments of interest, if any, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. .
(b) If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, such Securities wherever situated. .
(c) If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 9 contracts
Sources: Subordinated Indenture (Lincoln National Corp), Subordinated Indenture (Lincoln National Corp), Senior Indenture (Lincoln National Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Issuer covenants that if:
(a) default Default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues due, continued for a period of 30 days, or
(b) default Default is made in the payment of the principal of (or premium, if any, on) any Security at when due, the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such borne by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Issuer or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 9 contracts
Sources: Indenture (Qwest Corp), Indenture (Qwest Corp), Indenture (Qwest Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 90 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) of any Security at the Maturity maturity thereof, then including any maturity occurring by reason of a call for redemption or otherwise, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders holders of such Securities, the whole amount then that shall have become due and payable on such Securities for principal or premium, if any, and any premium and interest, with interest upon the overdue principal and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in borne by such Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding proceedings to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series securityholders by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 9 contracts
Sources: Subordinated Indenture (Flushing Financial Corp), Subordinated Indenture (Flushing Financial Corp), Subordinated Indenture (Amalgamated Financial Corp.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 daysdays (whether or not such payment is prohibited by the provisions of Article XIV), or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofthereof (whether or not such payment is prohibited by the provisions of Article XIV), then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 9 contracts
Sources: Subordinated Indenture (Pioneer Energy Services Corp), Subordinated Indenture (Helix Energy Solutions Group Inc), Subordinated Indenture (Pioneer Energy Services Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity, or
(3) default is made in the Maturity thereofmaking or satisfaction of any sinking fund or analogous obligation when the same becomes due pursuant to the terms of any Security, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition theretoaddition, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements disbursements, and advances of the Trustee, its agents agents, and counsel. If the Company fails to pay such amounts forthwith immediately upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinin this Indenture, or to enforce any other proper remedy.
Appears in 9 contracts
Sources: Indenture (Independent Bank Corp), Indenture (Valley National Bancorp), Indenture (Berkshire Hills Bancorp Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company and each Guarantor covenants that if
(ai) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(bii) default is made in the payment of the principal of (or premium, if any, on) any Security on the due date for payment thereof, including, with respect to any Security required to have been purchased pursuant to a Change of Control Offer made by the Company, at the Maturity Purchase Date thereof, then the Company willor such Guarantor shall, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such provided by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If In addition to the Company fails to pay such amounts forthwith upon such demandrights and powers set forth in Section 317(a) of the Trust Indenture Act, the Trustee, Trustee shall be entitled to file such other papers or documents as may be necessary or advisable in its own name order to have the claims of the Trustee and as trustee of an express trust, may institute a the Holders of the Securities allowed in any judicial proceeding for relative to the collection of the sums so due and unpaidCompany, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Guarantor or any other obligor upon the Securities, wherever situatedits creditors, or its property, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for compensation and expenses, including counsel fees incurred by it up to the date of such distribution. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 9 contracts
Sources: Indenture (United Rentals North America Inc), Indenture (United Rentals North America Inc), Indenture (United Rentals North America Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants Issuers covenant that if
(a1) default is made in the payment of any installment of interest on or any Additional Amounts with respect to any Security or any Coupon appertaining thereto when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any premium on any Security or any Additional Amounts with respect thereto at their Maturity, the Maturity thereof, then the Company willIssuers shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesSecurities and any Coupons appertaining thereto, the whole amount of money then due and payable on with respect to such Securities for principal and any Coupons appertaining thereto, with interest upon the overdue principal, any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal installments of interest and premium and on any overdue interest, Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and all other amounts due to the Trustee under Section 6.7. If the Company fails Issuers fail to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company Issuers or any other obligor upon the such Securities and any Coupons appertaining thereto and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuers or any other obligor upon the Securitiessuch Securities and any Coupons appertaining thereto, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any Coupons appertaining thereto by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 8 contracts
Sources: Indenture (Teekay Offshore Finance Corp.), Indenture (Teekay Offshore Finance Corp.), Indenture (Teekay LNG Finance Corp.)
Collection of Indebtedness and Suits for Enforcement by Trustee. (a) The Company covenants that if:
(a1) default is made in the payment of any interest on any Security Note when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security Note at the Maturity thereof, then ; the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such SecuritiesNotes, the whole amount then due and payable on such Securities Notes for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such SecuritiesNotes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. .
(b) If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities such Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Notes, wherever situated. .
(c) If an Event of Default with respect to Securities Notes of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities Notes of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary or desirable to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 8 contracts
Sources: Indenture (Celgene Corp /De/), Indenture (Celgene Corp /De/), Indenture (Celgene Corp /De/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or of, premium, if any, on) on any Security at the Stated Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium premium, if any, and interest, with interest upon the overdue principal and premium, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such borne by the Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon on the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon on the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture by such appropriate private or judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement subject however to Section 5.12. No recovery of any covenant or agreement in this Indenture or in aid such judgment upon any property of the exercise Company shall affect or impair any rights, powers or remedies of any power granted herein, the Trustee or to enforce any other proper remedythe Holders.
Appears in 8 contracts
Sources: Indenture (Bally Total Fitness Holding Corp), Indenture (Bally Total Fitness Holding Corp), Indenture (Bally Total Fitness Holding Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest, with interest upon the overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such borne by the Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of for any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 7 contracts
Sources: Indenture (McCormick & Co Inc), Indenture (McCormick & Co Inc), Indenture (McCormick & Co Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Stated Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest, with interest upon the overdue principal and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such borne by the Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture or any Guarantee by such appropriate private or judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in any Guarantee or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, subject however to Section 7.12. No recovery of any such judgment upon any property of the Company or any Guarantor shall affect or impair any rights, powers or remedies of the Trustee or the Holders.
Appears in 6 contracts
Sources: Indenture (Service Corporation International), Indenture (Service Corporation International), Indenture (Mylan Bertek Pharmaceuticals Inc.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company willshall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and name, as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 6 contracts
Sources: Indenture (Transocean Ltd.), Indenture (Transocean Ltd.), Indenture (Transocean Ltd.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 5 contracts
Sources: Indenture (Rex Energy I, LLC), Indenture (DXP Enterprises Inc), Indenture (Magnum Hunter Resources Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then thereof the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities Securities, for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, other than those incurred due to the Trustee's bad faith or negligence. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, trust may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, rights whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 5 contracts
Sources: Indenture (Masco Corp /De/), Indenture (Masco Corp /De/), Indenture (R H Donnelley Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such SecuritiesSecurities and coupons, the whole amount then due and payable on such Securities and coupons for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities (or, in the case of Original Issue Discount Securities, the Securities' yield to maturity) and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any related coupons by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 5 contracts
Sources: Subordinated Indenture (Dynegy Capital Trust Iii), Subordinated Indenture (Illinois Power Co), Subordinated Indenture (Illinois Power Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 90 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) of any Security at the Maturity maturity thereof, then including any maturity occurring by reason of a call for redemption or otherwise, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders holders of such SecuritiesSecurities and any coupons appertaining thereto, the whole amount then that shall have become due and payable on such Securities and coupons for principal or premium, if any, and any premium and interest, with interest upon the overdue principal and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in borne by such Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding proceedings to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series securityholders by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 5 contracts
Sources: Subordinated Indenture (Veritex Holdings, Inc.), Subordinated Indenture (BCB Bancorp Inc), Subordinated Indenture (BCB Bancorp Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or and premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal principal, including any sinking fund payment or analogous obligations (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover all amounts owing the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselTrustee under Section 6.7. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 5 contracts
Sources: Indenture (PVH Corp. /De/), Indenture (PVH Corp. /De/), Senior Indenture (First American Financial Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. (a) The Company Issuer covenants that if
if (ai) default is made in the payment of any interest on any Security Note when the same becomes due and payable, and such interest default continues for a period of five days, or (ii) default is made in the payment of the principal of or any installment of the principal of any Note when the same becomes due and payable and such default continues for a period of 30 five days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securitiesthe Notes, the whole amount then due and payable on such Securities Notes for principal and any premium and interest, with interest upon the overdue principal, and, to the extent that payment at such rate of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such Securities, and, applicable Interest Rate and in addition thereto, thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, Trustee and its agents and counsel. If .
(b) Each Issuer Secured Party hereby irrevocably and unconditionally appoints the Company fails Controlling Party as the true and lawful attorney-in-fact of such Issuer Secured Party for so long as such Issuer Secured Party is not the Controlling Party, with full power of substitution, to pay execute, acknowledge and deliver any notice, document, certificate, paper, pleading or instrument and to do in the name of the Controlling Party as well as in the name, place and stead of such amounts forthwith upon Issuer Secured Party such demandacts, things and deeds for or on behalf of and in the Trusteename of such Issuer Secured Party under this Indenture (including specifically under Section 5.4) and under the Basic Documents which such Issuer Secured Party could or might do or which may be necessary, desirable or convenient in its own name such Controlling Party's sole discretion to effect the purposes contemplated hereunder and as trustee under the Basic Documents and, without limitation, following the occurrence of an express trustEvent of Default, may institute a judicial proceeding for exercise full right, power and authority to take, or defer from taking, any and all acts with respect to the collection administration, maintenance or disposition of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. Trust Estate.
(c) If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion subject to the consent of the Controlling Party and shall, at the direction of the Controlling Party, proceed to protect and enforce its rights and the rights of the Holders of Securities of such series Noteholders by such appropriate judicial proceedings Proceedings as the Trustee or the Controlling Party shall deem most effectual effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedyremedy or legal or equitable right vested in the Trustee by this Indenture or by law.
(d) In case there shall be pending, relative to the Issuer or any other obligor upon the Notes or any Person having or claiming an ownership interest in the Trust Estate, proceedings under Title 11 of the United States Code or any other applicable Federal or State bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor or Person, or in case of any other comparable judicial proceedings relative to the Issuer or other obligor upon the Notes, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, subject to the direction of the Controlling Party, shall be entitled and empowered, by intervention in such proceedings or otherwise:
(i) to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Noteholders allowed in such proceedings;
(ii) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of Notes in any election of a trustee, a standby trustee or person performing similar functions in any such proceedings;
(iii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with respect to the claims of the Noteholders and of the Trustee on their behalf; and
(iv) to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee or the Holders of Notes allowed in any judicial proceedings relative to the Issuer, its creditors and its property; and any trustee, receiver, liquidator, custodian or other similar official in any such proceeding is hereby authorized by each of such Noteholders to make payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith.
(e) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Noteholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar person.
(f) All rights of action and of asserting claims under this Indenture, the Master Spread Account Agreement, any other Basic Document or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes or the production thereof in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Notes.
(g) In any proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture, the Master Spread Account Agreement or any other Basic Document), the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Noteholder a party to any such proceedings.
Appears in 5 contracts
Sources: Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any installment of interest on or any Additional Amounts with respect to any Security or any Coupon appertaining thereto when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any premium on any Security or any Additional Amounts with respect thereto at the Maturity thereoftheir Maturity, then the Company willshall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesSecurities and any Coupons appertaining thereto, the whole amount of money then due and payable on with respect to such Securities for principal and any Coupons appertaining thereto, with interest upon the overdue principal, any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal installments of interest and premium and on any overdue interest, Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and all other amounts due to the Trustee under Section 6.6. If the Company fails to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and any Coupons appertaining thereto and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Securities and any Coupons appertaining thereto, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any Coupons appertaining thereto by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 5 contracts
Sources: Indenture (RAM Holdings Ltd.), Indenture (Nordstrom Inc), Indenture (Ace Ina Holdings Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company and each of the Guarantor covenants that if:
(a) default is made in the payment of any interest on or Additional Amounts with respect to any Security when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company and each Guarantor will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal principal, interest and any premium Additional Amounts, and interest on any overdue principal and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal installment of interest and premium and on any overdue interestAdditional Amounts, at the rate or rates prescribed therefor in such borne by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company or any Guarantor, as the case may be, fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Company, such Guarantor or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Company, such Guarantor or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. Nothing in this Section shall be considered to require the Trustee to institute any judicial proceeding.
Appears in 5 contracts
Sources: Indenture (A I M Management Group Inc /De/), Indenture (A I M Management Group Inc /De/), Indenture (Amvescap PLC/London/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest (including Additional Interest and Special Interest), if any, on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Stated Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest (including Special Interest, if any), with interest upon the overdue principal and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such borne by the Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture by such appropriate private or judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, subject however to Section 8.12. No recovery of any such judgment upon any property of the Company shall affect or impair any rights, powers or remedies of the Trustee or the Holders.
Appears in 4 contracts
Sources: Indenture (Emergent Capital, Inc.), Indenture (Emergent Capital, Inc.), Indenture (Emergent Capital, Inc.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then thereof the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities Securities, for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel other than those incurred due to the Trustee’s bad faith or negligence. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, trust may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, rights whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Subordinated Indenture (Masco Corp /De/), Subordinated Indenture (Masco Corp /De/), Subordinated Indenture (Masco Corp /De/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 60 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or, if applicable, the Guarantor or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or, if applicable, the Guarantor or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (Weatherford International LTD), Indenture (Weatherford International LTD), Indenture (Weatherford International Inc /New/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any installment of interest (including any Liquidated Damages) on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofits Maturity, then the Company willshall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest (including any Liquidated Damages), with interest upon any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on installments of interest (including any overdue interestLiquidated Damages), at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities under a supplemental indenture entered into in accordance herewith and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other such obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (Transwitch Corp /De), Indenture (Interliant Inc), Indenture (Transwitch Corp /De)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or,
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity, or
(3) default is made in the Maturity thereofmaking or satisfaction of any sinking fund or analogous obligation when the same becomes due pursuant to the terms of any Security, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition theretoaddition, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements disbursements, and advances of the Trustee, its agents agents, and counsel. If the Company fails to pay such amounts forthwith immediately upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinin this Indenture, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (Valley National Bancorp), Indenture (Huntington Bancshares Inc/Md), Indenture (Huntington Bancshares Inc/Md)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 daysdays (whether or not such payment is prohibited by the provisions of Article XIV), or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofthereof (whether or not such payment is prohibited by the provisions of Article XIV), then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Subordinated Indenture (DXP Enterprises Inc), Subordinated Indenture (Magnum Hunter Resources Corp), Subordinated Indenture (GreenHunter Energy, Inc.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
if an Event of Default occurs under Section 501(1), (a2), (3) default is made in the payment of or (4) with respect to any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then Junior Subordinated Notes the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such SecuritiesJunior Subordinated Notes, the whole amount then due and payable on such Securities Junior Subordinated Notes for principal (and any premium premium, if any) and interest (including Additional Interest, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interestinterest (including Additional Interest, if any), at the rate or rates prescribed therefor in such SecuritiesJunior Subordinated Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due to the Trustee under Section 607. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities such Junior Subordinated Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Junior Subordinated Notes, wherever situated. If an Event of Default with respect to Securities Junior Subordinated Notes of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities Junior Subordinated Notes of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Subordinated Note Indenture (Southern Power Co), Subordinated Note Indenture (Gulf Power Co), Subordinated Note Indenture (Georgia Power Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company and each Guarantor covenants that if
(ai) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(bii) default is made in the payment of the principal of (or premium, if any, on) any Security on the due date for payment thereof, including, with respect to any Security required to have been purchased pursuant to a Change of Control Offer or an Asset Sale Offer made by the Company, at the Maturity Purchase Date thereof, then the Company or such Guarantor will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such provided by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If In addition to the Company fails to pay such amounts forthwith upon such demandrights and powers set forth in Section 317(a) of the Trust Indenture Act, the Trustee, Trustee shall be entitled to file such other papers or documents as may be necessary or advisable in its own name order to have the claims of the Trustee and as trustee of an express trust, may institute a the Holders of the Securities allowed in any judicial proceeding for relative to the collection of the sums so due and unpaidCompany, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Guarantor or any other obligor upon the Securities, wherever situatedits creditors, or its property, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for compensation and expenses, including counsel fees incurred by it up to the date of such distribution. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (United Rentals North America Inc), Indenture (United Rentals North America Inc), Indenture (United Rentals Inc /De)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including all amounts due the reasonable compensation, expenses, disbursements Trustee and advances of the Trustee, its agents and counselany predecessor Trustee under Section 6.07. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an any Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (Xl Group PLC), Indenture (Security Capital Assurance LTD), Indenture (Xl Capital LTD)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Partnership covenants that if:
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company Partnership will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Partnership fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Partnership or, if applicable, the Guarantors or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Partnership or, if applicable, the Guarantors or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (Cheniere Energy Partners, L.P.), Indenture (Cheniere Energy Partners, L.P.), Indenture (Cheniere Energy Partners, L.P.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any installment of interest on any Security when such interest becomes shall have become due and payable and such default continues for a period of 30 days, ; or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofits Maturity, then and such default continues for a period of 10 days; the Company willshall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount of money then due and payable on with respect to such Securities for with interest upon the overdue principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue interest, installments of interest at the rate borne by or rates prescribed therefor provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys money adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, such Securities wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (Toyota Auto Lease Trust 1998 C), Indenture (Toyota Motor Credit Corp), Indenture (Toyota Motor Credit Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Issuer covenants that if:
(a1) default is made in the payment of any installment of interest on any Security Note when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security Note at the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such SecuritiesNotes, the whole amount then due and payable on such Securities Notes for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such Securitiesborne by the Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Issuer, any Guarantor or any other obligor upon the Securities Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer, any Guarantor or any other obligor upon the SecuritiesNotes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture and the Guarantees by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, including seeking recourse against any Guarantor, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, including seeking recourse against any Guarantor.
Appears in 4 contracts
Sources: Indenture (Manitowoc Co Inc), Indenture (Academy Sports & Outdoors, Inc.), Indenture (Manitowoc Co Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. (a) The Company Issuer covenants that if
if (ai) default is made in the payment of any interest on any Security Note when the same becomes due and payable, and such interest default continues for a period of five days, or (ii) default is made in the payment of the principal of or any installment of the principal of any Note when the same becomes due and payable and such default continues for a period of 30 five days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securitiesthe Notes, the whole amount then due and payable on such Securities Notes for principal and any premium and interest, with interest upon the overdue principal, and, to the extent that payment at such rate of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such Securities, and, applicable Interest Rate and in addition thereto, thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, Trustee and its agents and counsel. If .
(b) Each Noteholder by its acceptance of a Note irrevocably and unconditionally appoints the Company fails Controlling Party, to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for extent the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company Controlling Party is granted rights under this Indenture or any other obligor upon Basic Document to direct the Securities Trustee or consent to or take any action hereunder or under the other Basic Documents, as the true and collect lawful attorney-in-fact of such Noteholder with respect to such consent or action and for so long as such Noteholder is not the moneys adjudged Controlling Party, with full power of substitution, to execute, acknowledge and deliver any notice, document, certificate, paper, pleading or decreed instrument and to be payable do in the manner provided by law out name of the property Controlling Party as well as in the name, place and stead of such Noteholder such acts, things and deeds for or on behalf of and in the name of such Noteholder under this Indenture (including specifically under Section 5.4) and under the Basic Documents which such Noteholder could or might do or that may be necessary, desirable or convenient in such Controlling Party’s sole discretion to effect the purposes contemplated hereunder and under the Basic Documents and, without limitation, following the occurrence of an Event of Default, exercise full right, power and authority to take, or defer from taking, any and all acts with respect to the administration, maintenance or disposition of the Company or any other obligor upon the Securities, wherever situated. Trust Estate.
(c) If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion discretion, and at the direction of the Controlling Party shall, proceed to protect and enforce its rights and the rights of the Holders of Securities of such series Noteholders by such appropriate judicial proceedings Proceedings as the Trustee Trustee, in its discretion or as directed by the Controlling Party, shall deem most effectual effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedyremedy or legal or equitable right vested in the Trustee by this Indenture or by law.
(d) In case there shall be pending, relative to the Issuer or any other obligor upon the Notes or any Person having or claiming an ownership interest in the Trust Estate, proceedings under Title 11 of the United States Code or any other applicable Federal or State bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor or Person, or in case of any other comparable judicial proceedings relative to the Issuer or other obligor upon the Notes, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, subject to the direction of the Controlling Party, shall be entitled and empowered, by intervention in such proceedings or otherwise:
(i) to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Noteholders allowed in such proceedings;
(ii) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of Notes in any election of a trustee, a standby trustee or person performing similar functions in any such Proceedings;
(iii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with respect to the claims of the Noteholders and of the Trustee on their behalf; and
(iv) to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee or the Holders of Notes allowed in any judicial proceedings relative to the Issuer, its creditors and its property; and any trustee, receiver, liquidator, custodian or other similar official in any such proceeding is hereby authorized by each of such Noteholders to make payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith.
(e) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Noteholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar person.
(f) All rights of action and of asserting claims under this Indenture, any other Basic Document or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes or the production thereof in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Notes.
(g) In any Proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture or any other Basic Document), the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Noteholder a party to any such proceedings.
Appears in 4 contracts
Sources: Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then thereof the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities Securities, for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel other than those incurred due to the Trustee's bad faith or negligence. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, trust may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, rights whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Subordinated Indenture (Masco Corp /De/), Subordinated Indenture (Masco Corp /De/), Subordinated Indenture (R H Donnelley Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or;
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity; or
(3) default is made in the Maturity thereofmaking or satisfaction of any sinking fund or analogous obligation when the same becomes due pursuant to the terms of any Security, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition theretoaddition, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements disbursements, and advances of the Trustee, its agents agents, and counsel. If the Company fails to pay such amounts forthwith immediately upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinin this Indenture, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (Imperial Petroleum Inc./Marshall Islands), Indenture (Tsakos Energy Navigation LTD), Indenture (Tsakos Energy Navigation LTD)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default Default is made in the payment of any interest on any Security when such interest becomes due and payable and such default Default continues for a period of 30 days, or
(b2) default Default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company Company, or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rightsright, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 4 contracts
Sources: Indenture (O&M Halyard, Inc.), Indenture (O&M Halyard, Inc.), Indenture (Owens & Minor Inc/Va/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such SecuritiesSecurity, the whole amount then due and payable on such Securities Security for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such SecuritiesSecurity, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities such Security and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Security, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture with respect to such series of Securities or in aid of the exercise of any power granted herein, or to enforce any other proper remedyremedy with respect to such series of Securities.
Appears in 4 contracts
Sources: Indenture (CNH Industrial Capital LLC), Indenture (New Holland Credit Company, LLC), Indenture (CNH Industrial N.V.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Stated Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest, with interest upon the overdue principal and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such borne by the Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture by such appropriate private or judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, subject however to Section 7.12. No recovery of any such judgment upon any property of the Company shall affect or impair any rights, powers or remedies of the Trustee or the Holders.
Appears in 3 contracts
Sources: Indenture (Anixter International Inc), Indenture (Morgans Hotel Group Co.), Indenture (Tektronix Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on upon any Security when such interest it becomes due and payable and such default continues for a period of 30 daysdays (subject to the deferral of any Interest Payment Date in the case of an Extension Period) (regardless of whether such payment is prohibited by the provisions of Article XVI hereof), or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security when the same has become due and payable at its Maturity (regardless of whether such payment is prohibited by the Maturity thereofprovisions of Article XVI hereof), then or
(3) default is made in the making or satisfaction of any mandatory sinking fund payment when it becomes due pursuant to the terms of the Securities of any series and such default continues for a period of 30 days (regardless of whether such payment is prohibited by the provisions of Article XVI hereof), the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may may, but shall not be obligated to, institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Sierra Pacific Power Co), Indenture (Pacificorp /Or/), Indenture (Nevada Power Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that that, if:
(a) default is made in the payment of any installment of interest on Debt Securities of any Security series when such interest or payment becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security Debt Securities of any series at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of the Debt Securities of such Securitiesseries, the whole amount then due and payable on such Debt Securities for the principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securitiesif any, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts amount forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Debt Securities of such series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, such Debt Securities wherever situated. If an Event of Default with respect to the Debt Securities of any series occurs and is continuing, then the Trustee may may, in its discretion discretion, proceed to protect and enforce its rights and the rights of the Holders of such Debt Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. The Trustee shall be under no duty to the Company or any Guarantor to make or give any presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor, or other notice or demand, or to take any steps necessary to preserve any rights against prior parties except as expressly provided in this Indenture.
Appears in 3 contracts
Sources: Indenture (MRG Vegas Portal, Inc.), Indenture (Ramparts, Inc.), Indenture (MGM Mirage)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(ai) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(bii) default is made in the payment of the principal of (or premium, if any, on) any Security at on the Maturity due date for payment thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such provided by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If In addition to the Company fails to pay such amounts forthwith upon such demandrights and powers set forth in Section 317(a) of the Trust Indenture Act, the Trustee, Trustee shall be entitled to file such other papers or documents as may be necessary or advisable in its own name order to have the claims of the Trustee and as trustee of an express trust, may institute a the Holders of the Securities allowed in any judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding relative to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situatedits creditors, or its property, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for compensation and expenses, including counsel fees incurred by it up to the date of such distribution. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Senior Indenture (United Rentals North America Inc), Senior Indenture (United Rentals Realty, LLC), Senior Indenture (Wynne Systems Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then thereof the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities Securities, for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, trust may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, rights whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Pitney Bowes Inc /De/), Indenture (Pitney Bowes Credit Corp), Indenture (Pitney Bowes Credit Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then ; the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or, if applicable, the Guarantors or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or, if applicable, the Guarantors or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Sun Communities Inc), Indenture (Sun Communities Operating Limited Partnership), Indenture (Newpark Resources Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable payable, (A) if such default occurs prior to the Release Date, and such default continues for a period of 90 days, or (B) if such default occurs on or after the Release Date, such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofMaturity, then upon redemption (including redemption under Article XII) or otherwise, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series hereunder occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce secure any other proper remedy.
Appears in 3 contracts
Sources: Indenture (WPS Resources Corp), Indenture (WPS Resources Corp), Indenture (WPS Resources Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofits Maturity, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and premium, if any) and interest, with interest upon any premium overdue principal (and interest premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installments of interest, if any, at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Internet Capital Group Inc), Indenture (Internet Capital Group Inc), Indenture (Earthweb Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants and the Guarantor each covenants, in each case, that if
(a1) default is made in the payment of any installment of interest on or any Additional Amounts with respect to any Security when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any premium on any Security or any Additional Amounts with respect thereto at the Maturity thereoftheir Maturity, then the Company willor the Guarantor, as the case may be, shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount of money then due and payable on with respect to such Securities for principal and Securities, with interest upon the overdue principal, any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal installments of interest and premium and on any overdue interest, Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including includ- ing the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and all other amounts due to the Trustee under Section 6.6. If the Company or the Guarantor fails to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or the Guarantor or any other obligor upon the such Securities and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or the Guarantor or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Elan Corp PLC), Limited Waiver (Elan Corp PLC), Limited Waiver (Elan Corp PLC)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Issuer covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or,
(b2) default is made in the payment of the principal of (or or, premium, if any, on) any Security at the Maturity thereof, then or
(3) default is made in the Company willmaking or satisfaction of any sinking fund payment or analogous obligation when the same becomes due pursuant to the terms of any Security, the Issuer, upon demand of the Trustee, will pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal principal, including any sinking fund payment or analogous obligations (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Issuer or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Centennial Puerto Rico Operations Corp), Indenture (Centennial Puerto Rico Operations Corp), Indenture (Centennial Puerto Rico Operations Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(ai) default is made in the payment of any interest on upon any Security when such interest it becomes due and payable and such default continues for a period of 30 days, or
(bii) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity, or
(iii) default is made in the Maturity thereofmaking or satisfaction of any mandatory sinking fund payment when it becomes due pursuant to the terms of the Securities of any series, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may may, but shall not be obligated to, institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (D & K Healthcare Resources Inc), Indenture (D & K Healthcare Resources Inc), Indenture (D & K Healthcare Resources Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
if (a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
or (b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.. 33
Appears in 3 contracts
Sources: Indenture (El Paso Natural Gas Co), Indenture (El Paso Natural Gas Co), Indenture (El Paso Natural Gas Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Corporation covenants that if:
(a1) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company Corporation will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest andinterest, to the extent that payment of such interest shall be legally enforceableif any, and interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount amounts as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Corporation fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Corporation or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Corporation or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series (or of all series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series (or of all series, as the case may be) by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Ovintiv Inc.), Indenture (Ovintiv Inc.), Indenture (Encana Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or,
(b2) default is made in the payment of the principal of (or or, premium, if any, on) any Security at the Maturity thereof, then or
(3) default is made in the Company willmaking or satisfaction of any sinking fund payment or analogous obligation when the same becomes due pursuant to the terms of any Security, the Company, upon demand of the Trustee, will pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal principal, including any sinking fund payment or analogous obligations (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Century Communications Corp), Subordinated Indenture (Century Communications Corp), Indenture (Centennial Puerto Rico Operations Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any installment of interest on any Debt Security when such interest becomes due and payable and such default continues for a period of 30 days, or,
(b2) default is made in the payment of the principal of (or premium, if any, on) any Debt Security at the Maturity thereof, then or
(3) default is made in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due pursuant to the terms of the Debt Securities of any series, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Debt Securities, the whole amount then due and payable on such Securities Debt Securities, for the principal (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any upon the overdue principal (and premium premium, if any) and on any upon overdue installments of interest, at the rate or rates prescribed therefor in such Securities, Overdue Rate; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts amount forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities such Debt Securities, and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, such Debt Securities wherever situated. If an Event of Default with respect to Debt Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Debt Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Subordinated Debt Indenture (Scotts Miracle-Gro Co), Subordinated Debt Indenture (Bedford Property Investors Inc/Md), Subordinated Debt Indenture (Scotts Company)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofthereof or with respect to any Security required to have been purchased by the Company on the Change of Control Purchase Date or the Net Proceeds Payment Date pursuant to a Change of Control Offer or a Net Proceeds Offer, then as applicable, the Company will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such borne by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property Property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Flores & Rucks Inc /De/), Indenture (Ocean Energy Inc), Indenture (Ocean Energy Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
if (a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
days or (b2) default is made in the payment of the principal of (or premium, if any, on) on any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium premium, if any, and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Chevron Corp), Indenture (Chevron Usa Inc), Indenture (Chevron Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that that, if
(a) default is made in the payment of any installment of interest on any Security Note when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security Note at the Maturity maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such SecuritiesNotes, the whole amount then due and payable on such Securities Notes for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such Securitiesborne by the Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the SecuritiesNotes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Senior Notes Indenture (Loral Cyberstar Inc), Senior Notes Indenture (Loral Space & Communications LTD), Senior Notes Indenture (Loral Space & Communications LTD)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 daysdays (whether or not such payment is prohibited by the provisions of Article XIV), or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofthereof (whether or not such payment is prohibited by the provisions of Article XIV), then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Subordinated Indenture (Eplus Inc), Subordinated Indenture (Speed Commerce, Inc.), Subordinated Indenture (Eplus Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any installment of interest or Additional Amounts, if any, on any Security of any series and any related coupon when such interest or Additional Amount becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security of any series at the Maturity thereofits Maturity, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesSecurities of such series and coupons, the whole amount then due and payable on such Securities and coupons for principal (and any premium premium, if any) and interest and Additional Amounts, with interest upon any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue interestinstallments of interest or Additional Amounts, if any, at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities of such series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Securities of such series, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any related coupons by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Sirius Satellite Radio Inc), Indenture (Cd Radio Inc), Indenture (Sirius Satellite Radio Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
if (a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
or (b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such 54 46 appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. SECTION 504. Trustee May File Proofs of Claim. In case of any judicial proceeding relative to the Company or any other obligor upon the Securities, their property or their creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors' or other similar committee. SECTION 505.
Appears in 3 contracts
Sources: Indenture (Tennessee Gas Pipeline Co), Indenture (El Paso Tennessee Pipeline Co), Indenture (Tennessee Gas Pipeline Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any installment of interest on any Security Note when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security Note at the Maturity thereofthereof or with respect to any Note required to have been purchased by the Company on the Change of Control Purchase Date or the Purchase Date pursuant to a Change of Control Offer or Prepayment Offer, as applicable, then the Company will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such SecuritiesNotes, the whole amount then due and payable on such Securities Notes for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such Securitiesborne by the Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities Notes and collect the moneys money adjudged or decreed to be payable in the manner provided by law out of the property Property of the Company or any other obligor upon the SecuritiesNotes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this the Indenture or in aid of the exercise of any power granted hereinin the Indenture, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Fourth Supplemental Indenture (Comstock Oil & Gas GP, LLC), Third Supplemental Indenture (Comstock Oil & Gas GP, LLC), First Supplemental Indenture (Comstock Oil & Gas GP, LLC)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof or, with respect to any Security required to have been purchased pursuant to an Offer to Purchase made by the Company, at the Purchase Date thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such provided by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Stena Ab), Indenture (Stena Ab), Indenture (Stena Ab)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then then, subject to the Intercreditor Agreement, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on or any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, subject to any restrictions in the Intercreditor Agreement, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to any Securities of any series occurs and is continuing, subject to any restrictions in the Intercreditor Agreement, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or the Security Documents or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Genta Inc De/), Indenture (Genta Inc De/), Indenture (Genta Inc De/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or;
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity; or
(3) default is made in the Maturity thereofmaking or satisfaction of any sinking fund or analogous obligation when the same becomes due pursuant to the terms of any Security, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition theretoaddition, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements disbursements, and advances of the Trustee, its agents agents, and counsel. If the Company fails to pay such amounts forthwith immediately upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinin this Indenture, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (International Seaways, Inc.), Indenture (International Seaways, Inc.), Indenture (International Seaways, Inc.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 60 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofthereof and such default continues for a period of 60 days, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demandamounts, then the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an any Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders Holder of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Peter Kiewit Sons Inc /De/), Indenture (Peter Kiewit Sons Inc /De/), Indenture (Kiewit Materials Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trustmist, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Ingersoll Rand Co), Indenture (Ingersoll Rand Co), Indenture (Ingersoll Rand Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then or
(c) default is made in the deposit of any sinking fund payment when and as due by the terms of a Security, then, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, interest at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Company, the Guarantor or any other obligor upon the such Securities and collect the moneys adjudged or decreed deemed to be payable in the manner provided by law out of the property of the Company Company, the Guarantor or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to any Securities of any series Series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series Series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 3 contracts
Sources: Indenture (Digital Realty Trust, L.P.), Indenture (Digital Realty Trust, L.P.), Indenture (Digital Realty Trust, L.P.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(ai) in case default is shall be made in the payment of any installment of interest (including Contingent Interest and Liquidated Damages, if any) on any Security Security, as and when such interest becomes the same shall become due and payable payable, and such default continues shall have continued for a period of 30 days, or
or (bii) in case default is shall be made in the payment of the principal Accreted Principal Amount of (or premium, if any, on) any Security at or any accrued Contingent Accretion when the Maturity thereof, then same becomes due in accordance with the Company willterms thereof then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount that then shall have become due and payable on all such Securities for principal (including accrued Contingent Accretion, if any) or interest (including Contingent Interest and any premium Liquidated Damages, if any), or both, as the case may be, with interest upon the overdue principal and interest and, (to the extent that payment of such interest shall be legally enforceable, is enforceable under applicable law) upon overdue installments of interest on any overdue principal and premium and on any overdue interest, at the rate rate, or rates prescribed therefor in overdue rate, if any, borne by the Securities during the period of such Securities, default; and, in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents agents, attorneys and counsel. If , and all other expenses and liabilities incurred, and all advances made, by the Company fails to pay such amounts forthwith upon such demand, the Trustee, in Trustee except as a result of its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment negligence or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situatedwillful misconduct. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of the Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (American Express Co), Indenture (American Express Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(ai) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable of any series and such default continues for a period of 30 days, or
(bii) default is made in the payment of the principal of (or premium, if any, on) any Security of any series at the Maturity thereofits Maturity, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of Securities of such Securitiesseries, the whole amount then due and payable on such Securities for principal (and premium, if any) and interest, if any, with interest upon any premium overdue principal (and interest premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installments of interest, if any, at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities of such series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Securities of such series, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Garrison Capital Inc.), Indenture (Golub Capital BDC, Inc.)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants Issuers covenant that if
(a) if a default is made shall occur in respect of the payment of any principal of or interest on any Security when such interest becomes due and payable and such default continues for a period of 30 dayson any Secured Debt, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company Issuers will, upon demand of the Collateral Trustee, pay to the Collateral Trustee, for the benefit of the Holders Holder of such SecuritiesSecured Debt, the whole amount amount, if any, then due and payable on such Securities Secured Debt for principal and any premium and interest with interest upon the overdue principal and, to the extent that payment payments of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such Securitiesapplicable Interest Rate, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, Collateral Trustee and its agents and counsel. If the Company fails Issuers fail to pay such amounts forthwith upon such demand, the Collateral Trustee, in its own name and as trustee of an express trust, may may, and shall, subject to the terms of this Indenture (including Section 6.3(e)) upon direction of a Majority of the Controlling Class, institute a judicial proceeding Proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding Proceeding to judgment or final decree, and may enforce the same against the Company Issuer or any other obligor upon the Securities Secured Debt and collect the moneys Monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situatedAssets. If an Event of Default with respect to Securities of any series occurs and is continuing, the Collateral Trustee may in its discretion discretion, and shall, subject to the terms of this Indenture (including Section 6.3(e)) upon written direction of a Majority of the Controlling Class, proceed to protect and enforce its rights and the rights of the Holders of Securities of such series Secured Parties by such appropriate judicial proceedings Proceedings as the Collateral Trustee shall deem most effectual (if no such direction is received by the Collateral Trustee) or as the Collateral Trustee may be directed by a Majority of the Controlling Class, to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture herein or in aid of the exercise of any power granted herein, or to enforce any other proper remedyremedy or legal or equitable right vested in the Collateral Trustee by this Indenture, the Credit Agreement or by law. In case there shall be pending Proceedings relative to either of the Issuers or any other obligor upon the Secured Debt or Subordinated Securities under the Bankruptcy Law or any other applicable bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer its respective property or such other obligor or its property, or in case of any other comparable Proceedings relative to the Issuer or other obligor upon the Secured Debt or Subordinated Securities, or the creditors or property of the Issuer or the Co-Issuer or such other obligor, the Collateral Trustee, regardless of whether the principal of any Secured Debt or Subordinated Securities shall then be due and payable as therein expressed or by declaration or otherwise and regardless of whether the Collateral Trustee shall have made any demand pursuant to the provisions of this Section 5.3, shall be entitled and empowered, by intervention in such Proceedings or otherwise:
(a) to file and prove a claim or claims for the whole amount of principal, interest and other distributions owing and unpaid in respect of the Secured Debt or Subordinated Securities upon direction by a Majority of the Controlling Class and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Collateral Trustee (including any claim for reasonable compensation to the Collateral Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all reasonable expenses and liabilities incurred, and all advances made, by the Collateral Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Holders allowed in any Proceedings relative to the Issuer or to the creditors or property of the Issuer;
(b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders upon the direction of a Majority of the Controlling Class, in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency Proceedings or Person performing similar functions in comparable Proceedings; and
(c) to collect and receive any Monies or other property payable to or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Holders and of the Collateral Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Collateral Trustee, and, if the Collateral Trustee shall consent to the making of payments directly to the Holders to pay to the Collateral Trustee such amounts as shall be sufficient to cover reasonable compensation to the Collateral Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other reasonable expenses and liabilities incurred, and all advances made, by the Collateral Trustee and each predecessor Trustee except as a result of negligence or bad faith. Nothing herein contained shall be deemed to authorize the Collateral Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Holders, any plan of reorganization, arrangement, adjustment or composition affecting the Secured Debt or Subordinated Securities or any Holder thereof, or to authorize the Collateral Trustee to vote in respect of the claim of any Holders, as applicable, in any such Proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. In any Proceedings brought by the Collateral Trustee on behalf of the Holders of the Secured Debt or Subordinated Securities (and any such Proceedings involving the interpretation of any provision of this Indenture or the Credit Agreement to which the Collateral Trustee shall be a party), the Collateral Trustee shall be held to represent all the Holders of the Secured Debt and Subordinated Securities. Notwithstanding anything in this Section 5.3 to the contrary, the Collateral Trustee may not sell or liquidate the Assets or institute Proceedings in furtherance thereof pursuant to this Section 5.3 except according to the provisions specified in Section 5.5(a).
Appears in 2 contracts
Sources: Supplemental Indenture (Owl Rock Capital Corp), Indenture and Security Agreement (Owl Rock Capital Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such borne by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys money adjudged or decreed to be payable in the manner provided by law out of the property Property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Comstock Oil & Gas GP, LLC), Indenture (Comstock Resources Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any installment of interest on or any Additional Amounts with respect to any Security or any Coupon appertaining thereto 42 51 when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any premium on any Security or any Additional Amounts with respect thereto at the Maturity thereoftheir Maturity, then the Company willshall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesSecurities and any Coupons appertaining thereto, the whole amount of money then due and payable on with respect to such Securities for principal and any Coupons appertaining thereto, with interest upon the overdue principal, any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal installments of interest and premium and on any overdue interest, Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and all other amounts due to the Trustee under Section 6.6. If the Company fails to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and any Coupons appertaining thereto and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Securities and any Coupons appertaining thereto, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any Coupons appertaining thereto by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Jabil Circuit Inc), Indenture (Jabil Circuit Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or, if applicable, the Guarantors or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or, if applicable, the Guarantors or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (TODCO Mexico Inc.), Indenture (Tetra Technologies Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company and each Guarantor covenants that if
(ai) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(bii) default is made in the payment of the principal of (or premium, if any, on) any Security on the due date for payment thereof, including, with respect to any Security required to have been purchased pursuant to a Change of Control Offer made by the Company, at the Maturity Purchase Date thereof, then the Company willor such Guarantor shall, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such provided by the Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If The Trustee shall be entitled to file such other papers or documents as may be necessary or advisable in order to have the Company fails to pay such amounts forthwith upon such demand, claims of the Trustee, Trustee and of the Holders of the Securities allowed in its own name and as trustee of an express trust, may institute a any judicial proceeding for relative to the collection of the sums so due and unpaidCompany, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Guarantor or any other obligor upon the Securities, wherever situatedits creditors, or its property, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for compensation and expenses, including counsel fees incurred by it up to the date of such distribution. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (United Rentals North America Inc), Indenture (United Rentals North America Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
if (a) default is made in the payment of any interest on any Security Note when such interest becomes due and payable and such default continues for a period of 30 days, or
or (b) default is made in the payment of the principal of (or of, premium, if any, on) on any Security Note at the Stated Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders holders of such SecuritiesNotes, the whole amount then due and payable on such Securities Notes for principal and any premium premium, if any, and interest, with interest upon the overdue principal and premium, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such Securities, borne by the Notes; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon on the Securities Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon on the SecuritiesNotes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture by such appropriate private or judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement subject however to Section 5.12. No recovery of any covenant or agreement in this Indenture or in aid such judgment upon any property of the exercise Company shall affect or impair any rights, powers or remedies of any power granted herein, the Trustee or to enforce any other proper remedythe Holders.
Appears in 2 contracts
Sources: Indenture (Bally Franchise RSC Inc), Indenture (Bally Franchise RSC Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Issuer covenants that if:
(a) default is made in the payment of any installment of interest on or any Additional Amounts payable in respect of any Security when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity, the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and Additional Amounts, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any upon the overdue principal (and premium premium, if any) and on upon overdue installments of interest or any overdue interestAdditional Amounts, at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company Issuer, the Guarantors or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer, the Guarantors or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Perrigo Finance PLC), Indenture (Perrigo Finance PLC)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any installment of interest on or any Additional Amounts payable in respect of any Security when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofits Maturity, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and Additional Amounts, if any, with interest upon the overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, upon overdue installments of interest on or any overdue principal and premium and on any overdue interestAdditional Amounts, at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Yum Brands Inc), Indenture (Yum Brands Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premiumthat, if any, onan Event of Default specified in Section 5.01(i) any Security at the Maturity thereofor 5.01(ii) shall have occurred and be continuing, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesNotes, the whole amount then due and payable on such Securities Notes for principal principal, premium, if any, and any premium and interest, with interest upon the overdue principal, premium, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such Securities, then borne by the Notes; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may may, but is not obligated under this paragraph to, institute a judicial proceeding for the collection of the sums so due and unpaidunpaid and may, and may but is not obligated under this paragraph to, prosecute such proceeding to judgment or final decree, and may may, but is not obligated under this paragraph to, enforce the same against the Company Company, any Subsidiary Guarantor or any other obligor upon the Securities Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Company, any Subsidiary Guarantor or any other obligor upon the SecuritiesNotes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion discretion, but is not obligated under this paragraph to, (i) proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture by such appropriate private or judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted herein, herein or (ii) proceed to protect and enforce any other proper remedy. No recovery of any such judgment upon any property of the Company shall affect or impair any rights, powers or remedies of the Trustee or the Holders.
Appears in 2 contracts
Sources: Indenture (Rhythms Net Connections Inc), Indenture (Rhythms Net Connections Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. (a) The Company covenants that if:
(ai) default is shall be made in the payment of any installment of interest on any Security or Coupon as and when such interest becomes the same shall become due and payable payable, and such default continues shall have continued for a the period of 30 daysgrace provided for with respect to such Security or Coupon, oras the case may be,
(bii) default is shall be made in the payment of the principal of (or premium, if any, on) on any Security as and when the same shall have become due and payable (subject to clause (iii) below), whether at maturity of the Maturity thereofSecurity or upon redemption or by declaration or otherwise, then and such default shall have continued for any period of grace provided for with respect to such Security, or
(iii) default shall be made in the payment for any sinking, purchase or analogous fund provided for in respect of any Security as and when the same shall become due and payable, and such default shall have continued for any period of grace provided for with respect to such Security, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such SecuritiesSecurities and Coupons, if any, the whole amount then due and payable on such Securities and Coupons, if any, for principal (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue installments of interest, if any, at the rate or rates prescribed therefor in such SecuritiesSecurities and Coupons, if any, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. .
(b) If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Company, the Guarantor or any other obligor upon the such Securities and Coupons, if any, and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Company, the Guarantor or any other obligor upon the Securitiessuch Securities and Coupons, if any, wherever situated. .
(c) If an Event of Default with respect to Securities and Coupons, if any, of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities and/or Coupons of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (International Business Machines Corp), Indenture (Ibm International Group Capital LLC)
Collection of Indebtedness and Suits for Enforcement by Trustee. (a) The Company Issuer covenants that if
if (ai) default is made in the payment of any interest on any Security Bond when such interest the same becomes due and payable payable, and such default continues for a period of 30 five (5) days, or
(bii) default is made in the payment of the then unpaid principal of any Bond on the Final Legal Maturity Date for such Bond or (or premiumiii) default is made in the payment of the Optional Redemption Price for any Bond on the Redemption Date therefor, if any, on) any Security at the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securitiesthe Bonds, the whole amount then due and payable on such Securities Bonds for principal principal, premium, if any, and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, and in addition thereto, thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, Trustee and its agents and counsel. If .
(b) Subject to Section 11.18, in case the Company fails Issuer shall fail forthwith to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding Proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding Proceeding to judgment or final decree, and may enforce the same against the Company Issuer or any other obligor upon the Securities such Bonds and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the SecuritiesCollateral, wherever situated. , the moneys adjudged or decreed to be payable.
(c) If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may may, as more particularly provided in Section 5.04, in its discretion discretion, proceed to protect and enforce its rights and the rights of the Holders of Securities of such series Bondholders, by such appropriate judicial proceedings Proceedings as the Trustee shall deem most effectual effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedyremedy or legal or equitable right vested in the Trustee by this Indenture or by law.
(d) In case there shall be pending, relative to the Issuer or any other obligor upon the Bonds or any Person having or claiming an ownership interest in the Collateral, Proceedings under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee, trustee in bankruptcy, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor or Person, or in case of any other comparable judicial Proceedings relative to the Issuer or other obligor upon the Bonds, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Bonds shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such Proceedings or otherwise:
(i) to file and prove a claim for the whole amount of principal, premium, if any, and interest owing and unpaid in respect of the Bonds and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Bondholders allowed in such Proceedings;
(ii) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of Bonds in any election of a trustee, a standby trustee or Person performing similar functions in any such Proceedings; and
(iii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with respect to the claims of the Bondholders and of the Trustee on their behalf; and any trustee, receiver, liquidator, custodian or other similar official in any such Proceeding is hereby authorized by each of such Bondholders to make payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to such Bondholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith.
(e) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Bondholder any plan of reorganization, arrangement, adjustment or composition affecting the Bonds or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Bondholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person.
(f) All rights of action and of asserting claims under this Indenture, or under any of the Bonds, may be enforced by the Trustee without the possession of any of the Bonds or the production thereof in any trial or other Proceedings relative thereto, and any such action or other Proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Bonds. In the case of a default in the payment of principal of and interest on the Bonds when and as the same shall become due and payable hereunder (including all grace periods), the Trustee shall be entitled to recover judgment against the Issuer for the whole amount of such principal and interest and to file proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Issuer, its creditors or the Collateral.
(g) In any Proceedings brought by the Trustee (and also any Proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Bonds, and it shall not be necessary to make any Bondholder a party to any such Proceedings.
Appears in 2 contracts
Sources: Indenture (PG&E Energy Recovery Funding LLC), Indenture (PG&E Energy Recovery Funding LLC)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Stated Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest, with interest upon the overdue principal and, to the extent that payment of such interest shall be legally enforceable, interest on any upon overdue principal and premium and on any overdue installments of interest, at the rate or rates prescribed therefor in such borne by the Securities, ; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, unpaid and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the SecuritiesCompany, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series under this Indenture by such appropriate private or judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, subject however to Section 7.12. No recovery of any such judgment upon any property of the Company shall affect or impair any rights, powers or remedies of the Trustee or the Holders.
Appears in 2 contracts
Sources: Indenture (Regis Corp), Indenture (Regis Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) default is made in the payment of any interest on any Security Note when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) on any Security Note at the Maturity Date thereof, upon optional redemption or required repurchase, upon declaration of acceleration or otherwise, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesNotes, the whole amount then due and payable on such Securities Notes for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, interest at the rate or rates prescribed therefor in such Securities, Notes and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities such Notes and collect the moneys adjudged or decreed deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securitiessuch Notes, wherever situated. If an Event of Default with respect to Securities of any series Notes occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series Notes by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Amphenol Corp /De/), Indenture (Amphenol Corp /De/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security of any series when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security of any series at the Maturity thereof, then or
(3) default is made in the payment of any sinking or analogous obligation when the same becomes due by the terms of the Securities of any series, and any such default continues for any period of grace provided with respect to the Securities of such series, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.judicial
Appears in 2 contracts
Sources: Subordinated Debt Indenture (Emmis Television License Corp of Topeka), Subordinated Debt Indenture (Emmis Television License Corp of Topeka)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Issuer covenants that if:
(a) default Default is made in the payment of any interest on any Security New Note when such interest becomes due and payable and such default continues due, continued for a period of 30 days, or
(b) default Default is made in the payment of the principal of (or premium, if any, on) any Security at New Note when due, the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securities, New Notes the whole amount then due and payable on such Securities New Notes for principal (and any premium premium, if any) and interest, and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue installment of interest, at the rate or rates prescribed therefor in such Securitiesborne by the New Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company Issuer or any other obligor upon the Securities New Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company Issuer or any other obligor upon the SecuritiesNew Notes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Level 3 Parent, LLC), Indenture (Level 3 Parent, LLC)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest or Liquidated Damages on any Security when such interest it becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) on any Security at the Maturity thereof, then the Company will, will upon demand of the Trustee, Trustee pay to the Trusteeit, for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal and any premium principal, premium, if any, Liquidated Damages, if any, and interest on any overdue principal, premium, if any, Liquidated Damages, if any, and, to the extent that payment of such interest shall be legally enforceablepermitted by applicable law, interest on any overdue principal and premium and on any overdue interest, interest at the rate or rates prescribed therefor then in such Securitieseffect, and, and in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Etoys Inc), Indenture (Etoys Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then thereof the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities Securities, for principal (and any premium premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, trust may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Pitney Bowes Inc /De/), Subordinated Indenture (Pitney Bowes Inc /De/)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any installment of interest on or any Additional Amounts with respect to any Security or any Coupon appertaining thereto when such interest becomes or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any premium on any Security or any Additional Amounts with respect thereto at the Maturity thereoftheir Maturity, then the Company willshall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesSecurities and any Coupons appertaining thereto, the whole amount of money then due and payable on with respect to such Securities for principal and any Coupons appertaining thereto, with interest upon the overdue principal, any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal installments of interest and premium and on any overdue interest, Additional Amounts at the rate or rates prescribed therefor borne by or provided for in such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counselcounsel and all other amounts due to the Trustee under Section 6.6. If the Company fails to pay such amounts the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon such demandthe demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any Guarantor or any other obligor upon the such Securities and any Coupons appertaining thereto and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any Guarantor or any other obligor upon the Securitiessuch Securities and any Coupons appertaining thereto, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any Coupons appertaining thereto by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted hereinherein or therein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Cox Radio Inc), Indenture (Cox Radio Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest (including any Liquidated Damages) on any Security when such interest it becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) on any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, Trustee but subject to the provisions of Article XIII pay to the Trusteeit, for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal and interest (including any premium Liquidated Damages) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and premium, if any, and, to the extent permitted by applicable law, on any overdue interestinterest (including any Liquidated Damages), at the a rate or rates prescribed therefor in such Securitiesof 6% per annum, and, and in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Cirrus Logic Inc), Indenture (Cirrus Logic Inc)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Subject to Article XIII, the Company covenants that if
(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, days or
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereofthereof or with respect to any Security required to have been purchased by the Company on the Change of Control Purchase Date or the Net Proceeds Payment Date pursuant to a Change of Control Offer or a Net Proceeds Offer, then as applicable, the Company will, upon demand of the Trustee, pay to the Trustee, Trustee for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on upon any overdue principal and premium and on any overdue interest, installment of interest at the rate or rates prescribed therefor in such Securities, borne by the Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property Property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in any provision of the Securities, this Indenture or the Registration Rights Agreement in aid of the exercise of any power granted therein or herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Pogo Producing Co), Indenture (Pogo Producing Co)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any installment of interest on any Debt Security when such interest becomes due and payable and such default continues for a period of 30 days, or,
(b2) default is made in the payment of the principal of (or premium, if any, on) any Debt Security at the Maturity thereof, then or
(3) default is made in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due pursuant to the terms of the Debt Securities of any series, the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Debt Securities, the whole amount then due and payable on such Securities Debt Securities, for the principal (and any premium premium, if any) and interest interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any upon the overdue principal (and premium premium, if any) and on any upon overdue installments of interest, at the rate or rates prescribed therefor in such Securities, Overdue Rate; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts amount forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities such Debt Securities, and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, such Debt Securities wherever situated. If an Event of Default with respect to Debt Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Debt Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Subordinated Debt Indenture (Calgon Carbon Corporation), Subordinated Debt Indenture (MOB Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company Issuer covenants that if
(a) if a default is made shall occur in respect of the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b) default is made in the payment of the principal of (or premiumany Note, if any, on) any Security at the Maturity thereof, then the Company Issuer will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders Holder of such SecuritiesNote, the whole amount amount, if any, then due and payable on such Securities Note for principal and any premium and interest andupon the overdue principal, which shall accrue at a rate equal to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such SecuritiesFederal Funds (Effective Rate) plus 2%, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, Trustee and its agents and counsel. If the Company Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may may, and shall upon direction of the Majority Noteholders, institute a judicial proceeding Proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding Proceeding to judgment or final decree, and may enforce the same against the Company Issuer or any other obligor upon the Securities Sole Shareholder, acting on behalf of the Issuer with respect to its rights under the Issuer Sale and Contribution Agreement, and collect the moneys Cash adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situatedCollateral. If an Event of Default with respect to Securities of any series occurs has occurred and is continuing, the Trustee may in its discretion discretion, and shall upon written direction of the Majority Noteholders, proceed to protect and enforce its rights and the rights of the Holders of Securities of such series Secured Parties by such appropriate judicial proceedings Proceedings as the Trustee shall deem most effectual (if no such direction is received by the Trustee) or as the Trustee may be directed by the Majority Noteholders, to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedyremedy or legal or equitable right vested in the Trustee by this Indenture or by law. Subject always to the provisions of Section 5.8, in case there shall be pending Proceedings relative to the Issuer or the Sole Shareholder under the Bankruptcy Law or any other applicable bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or the Sole Shareholder or their respective property or such other obligor or its property, or in case of any other comparable Proceedings relative to the Issuer or the Sole Shareholder, or the creditors or property of the Issuer or the Sole Shareholder, the Trustee, regardless of whether the principal of any Note shall then be due and payable as therein expressed or by declaration or otherwise and regardless of whether the Trustee shall have made any demand pursuant to the provisions of this Section 5.3, shall be entitled and empowered, by intervention in such Proceedings or otherwise:
(a) to file and prove a claim or claims for the whole amount of principal owing and unpaid in respect of the Notes upon direction by the Majority Noteholders and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all reasonable expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of the Holders allowed in any Proceedings relative to the Issuer or the Sole Shareholder or to the creditors or property of the Issuer or the Sole Shareholder;
(b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders upon the direction of the Majority Noteholders, in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency Proceedings or Person performing similar functions in comparable Proceedings; and
(c) to collect and receive any Cash or other property payable to or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Holders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to the Holders to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other reasonable expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Holders, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holders, as applicable, in any such Proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. In any Proceedings brought by the Trustee on behalf of the Holders of the Notes (and any such Proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Notes. Notwithstanding anything in this Section 5.3 to the contrary, the Trustee may not sell or liquidate the Collateral or institute Proceedings in furtherance thereof pursuant to this Section 5.3 except according to the provisions specified in Section 5.5(a).
Appears in 2 contracts
Sources: Indenture (BC Partners Lending Corp), Indenture (BC Partners Lending Corp)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a) a default is made occurs in the payment of any interest on any Security Note when such interest becomes due and payable and such default continues for a period of 30 days, ; or
(b) a default is made occurs in the payment of the principal of (or premium, if any, on) any Security Note at the Maturity thereof, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such SecuritiesNotes, the whole aggregate amount then due and payable on such Securities Notes for principal (and any premium premium, if any) and interest andinterest, to the extent that payment of such default interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any) and on any overdue interest, at the default interest rate or rates prescribed therefor in applicable to such SecuritiesNotes, and, in addition thereto, and (iii) such further amount amounts as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith immediately upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums amounts so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other successor obligor upon the Securities of such Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon of the SecuritiesNotes, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may may, in its discretion discretion, proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. The Trustee shall not be bound to institute any proceedings or take any other actions described in the two preceding paragraphs of this Section 5.3 unless (a) it shall have been so directed by the Holders of a majority in aggregate principal amount of Notes then Outstanding pursuant (and subject) to Section 5.12 (Control by Holders) and (b) it shall have received an indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such direction.
Appears in 2 contracts
Sources: Indenture (Edenor), Indenture (Edenor)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if
(a1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, then or
(3) default is made in the deposit of any sinking fund payment, when and as due by the terms of a Security of any series; the Company will, upon demand of the Trustee, pay to the Trusteeit, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and any premium premium, if any) and interest and for any sinking fund payment and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium premium, if any), on any overdue interest and on any overdue interestsinking fund payment, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may may, in its discretion, prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the such Securities and collect the moneys monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the such Securities, wherever situated. If an Event of Default Default, of which a Responsible Officer of the Trustee has actual knowledge, with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Commercial Credit Co), Indenture (SSBH Capital Iv)
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:
(a1) default is made in the payment of any interest on any Security when such interest it becomes due and payable and such default continues for a period of 30 days, or
(b2) default is made in the payment of the principal of (or premium, if any, on) on any Security at the Maturity thereof, then the Company will, upon demand of the Trustee, Trustee but subject to the provisions of Article XIII pay to the Trusteeit, for the benefit of the Holders of such Securities, Securities the whole amount then due and payable on such Securities for principal and any premium interest and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and premium, if any, and, to the extent permitted by applicable law, on any overdue interest, at the a rate or rates prescribed therefor in such Securitiesof _____% per annum, and, and in addition thereto, such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, decree and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise Exercise of any power granted herein, or to enforce any other proper remedy.
Appears in 2 contracts
Sources: Indenture (Sonus Networks Inc), Indenture (Sonus Networks Inc)