Conflicting Interests of Trustee Sample Clauses
The "Conflicting Interests of Trustee" clause defines the rules and limitations regarding situations where a trustee's personal interests may conflict with their duties to the trust or its beneficiaries. Typically, this clause outlines the requirement for trustees to avoid engaging in transactions or decisions where they could personally benefit at the expense of the trust, and may require disclosure of any potential conflicts to the beneficiaries or a court. Its core practical function is to ensure the trustee acts impartially and in the best interests of the trust, thereby protecting the trust assets and maintaining beneficiary confidence.
Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.
Conflicting Interests of Trustee. After qualification of this Indenture under the Trust Indenture Act, if the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either (a) eliminate such interest within ninety days, (b) apply to the Commission for permission to continue as Trustee or (c) resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.
Conflicting Interests of Trustee. If the Trustee has actual knowledge that it has acquired a conflicting interest, the Trustee shall either eliminate such interest within ninety (90) days or resign, to the extent and in the manner provided by, and subject to the provisions of, this Indenture.
Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture.
Conflicting Interests of Trustee. (a) If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.
(b) In the event that the Trustee shall fail to comply with Subsection (a) of this Section 8.8, the Trustee shall transmit notice of such failure to the holders of Debentures to the extent and in the manner provided by, and subject to, the provisions of the Trust Indenture Act.
Conflicting Interests of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event the Trustee has or shall acquire a conflicting interest, the Trustee shall either eliminate such interest within ninety days or resign.
Conflicting Interests of Trustee. The Trustee shall comply with the terms of Section 310(b) of the Trust Indenture Act.
Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either 064310-0812-15924-Active.25775846.
Conflicting Interests of Trustee. If the Trustee acquires any “conflicting interest” (as defined in 310(b) of the Trust Indenture Act) it must comply with the applicable provisions of Section 310 of the Trust Indenture Act in respect of such conflicting interest. The Trustee is subject to Section 311(a) of the Trust Indenture Act, excluding any creditor relationship listed in Section 311(b) of the Trust Indenture Act.
Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. Notwithstanding anything in this Indenture to the contrary, the Issuer and the Trustee acknowledge that the Trustee is acting as trustee both under this Indenture and under an indenture dated the date hereof in connection with certain of the Company's senior debt securities and upon a default or an Event of Default under either or both indentures, a conflict of interest may arise which would require the Trustee to resign as Trustee from either or both indentures.