DUTIES OF TRUSTEE REGARDING CONVERSION Clause Samples
The "Duties of Trustee Regarding Conversion" clause defines the responsibilities of a trustee when converting trust assets from one form to another, such as from real property to cash or securities. Typically, this clause outlines the procedures the trustee must follow, including obtaining appraisals, ensuring fair market value, and acting in the best interests of the beneficiaries during the conversion process. Its core practical function is to ensure that asset conversions are handled transparently and prudently, protecting the interests of all parties and minimizing the risk of mismanagement or disputes.
DUTIES OF TRUSTEE REGARDING CONVERSION. Neither the Trustee nor any conversion agent shall at any time be under any duty or responsibility to any Holder of Securities of any series that is convertible into Common Stock of the Company to determine whether any facts exist which may require any adjustment of the conversion price, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, whether herein or in any supplemental indenture, any resolutions of the Board of Directors or written instrument executed by one or more officers of the Company provided to be employed in making the same. Neither the Trustee nor any conversion agent shall be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock of the Company, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Securities and neither the Trustee nor any conversion agent makes any representation with respect thereto. Subject to the provisions of Section 601, neither the Trustee nor any conversion agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of its Common Stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion or to comply with any of the covenants of the Company contained in this Article Fourteen or in the applicable supplemental indenture, resolutions of the Board of Directors or written instrument executed by one or more duly authorized officers of the Company.
DUTIES OF TRUSTEE REGARDING CONVERSION. Neither the Trustee nor any conversion agent shall at any time be under any duty or responsibility to any Holder of Securities of any series that is convertible into Common Stock of the Company to determine whether any facts exist which may require any adjustment of the conversion price or conversion rate, as the case may be, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, whether herein or in any supplemental indenture, any resolutions of the Board of Directors or written instrument executed by one or more officers of the Company provided to be employed in making the same. Neither the Trustee nor any conversion agent shall be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock of the Company, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Securities and neither the Trustee nor any conversion agent makes any representation with respect thereto. Subject to the provisions of Section 6.1, neither the Trustee nor any conversion agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of its Common Stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion or to comply with any of the covenants of the Company contained in this Article 14 or in the applicable supplemental indenture, resolutions of the Board of Directors or written instrument executed by one or more duly authorized officers of the Company.
DUTIES OF TRUSTEE REGARDING CONVERSION. 75 SECTION 12.10. REPAYMENT OF CERTAIN FUNDS UPON CONVERSION.....................................75
DUTIES OF TRUSTEE REGARDING CONVERSION. Neither the Trustee nor any conversion agent shall at any time be under any duty or responsibility to any Holder of Securities that are convertible into Quantum Common Stock and Maxtor Common Stock to determine whether any facts exist which may require any adjustment of the Quantum Conversion Price or the Maxtor Conversion Price, as the case may be, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, whether herein or in any supplemental indenture, any resolutions of the Board of Directors of the Company or Maxtor, as the case may be, or written instrument executed by one or more officers of the Company provided to be employed in making the same. Neither the Trustee nor any conversion agent shall be accountable with respect to the validity or value (or the kind or amount) of any shares of Quantum Common Stock or Maxtor Common Stock, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Securities and neither the Trustee nor any conversion agent makes any representation with respect thereto. Subject to the provisions of Section 601, neither the Trustee nor any conversion agent shall be responsible for any failure of either the Company or Maxtor to issue, transfer or deliver any shares of their respective Quantum Common Stock or Maxtor Common Stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion or to comply with any of the covenants of the Company and Maxtor contained in this Article Fourteen or in the applicable supplemental indenture, resolutions of the Board of Directors of the Company or Maxtor, as the case may be, or written instrument executed by one or more duly authorized officers of the Company or Maxtor, as the case may be.
DUTIES OF TRUSTEE REGARDING CONVERSION. Neither the Trustee nor any conversion agent shall at any time be under any duty or responsibility to any Holder of Securities of any series that is convertible into Common Stock of the Company to determine whether any facts exist which may require any adjustment of the conversion price, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, whether herein or in any supplemental indenture, any resolutions of the Board of Directors or written instrument executed by one or more officers of the Company provided to be employed in making the same. Neither the Trustee nor any conversion agent shall be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock of the Company, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Securities and neither the Trustee nor any conversion agent makes any representation with respect thereto. Subject to the provisions of Section 6.1,
DUTIES OF TRUSTEE REGARDING CONVERSION. 87 SECTION 14.11 REPAYMENT OF CERTAIN FUNDS UPON CONVERSION. . . . . . . . . 88 ARTICLE XV
DUTIES OF TRUSTEE REGARDING CONVERSION. 65 Section 1511. REPAYMENT OF CERTAIN FUNDS UPON CONVERSION...........66
DUTIES OF TRUSTEE REGARDING CONVERSION. 78 SECTION 14.11 REPAYMENT OF CERTAIN FUNDS UPON CONVERSION......................................79 INDENTURE, dated as of ___________, 2000, between ▇▇▇▇▇▇▇ & ▇▇▇▇ Financial, Inc., a corporation duly organized and existing under the State of Delaware (herein called the "Company"), having its principal executive office at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, Overland Park, Kansas 66202, and [___________________], as Trustee (herein called the "Trustee").
DUTIES OF TRUSTEE REGARDING CONVERSION. Neither the Trustee nor any conversion agent shall at any time be under any duty or responsibility to any Holder of Securities of any series that is convertible into Common Stock of the Company to determine whether any facts exist which may require any adjustment of the conversion price, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, whether herein or in any supplemental indenture, any resolutions of the Board of Directors or written instrument executed by one or more officers of the Company provided to be employed in making the same. Neither the Trustee nor any conversion agent shall be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock of the Company, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Securities and neither the Trustee nor any conversion agent makes any representation with respect thereto. Neither the Trustee nor any conversion agent shall be accountable with respect to the accuracy of any calculations or computations made by the Company pursuant to this Article XV. Subject to the provisions of Section 601, neither the Trustee nor any conversion agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of its Common Stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion or to comply with any of the covenants of the Company contained in this Article XV or in the applicable supplemental indenture, resolutions of the Board of Directors or written instrument executed by one or more duly authorized officers of the Company.
DUTIES OF TRUSTEE REGARDING CONVERSION. 77 SECTION 14.11 REPAYMENT OF CERTAIN FUNDS UPON CONVERSION............................................................77 INDENTURE, dated as of ___________, 200__, between Willbros Group, Inc., a corporation duly organized and existing under the laws of the Republic of Panama (herein called the "Company"), having its principal executive office at Plaza Bancomer Building, 50th Street, 8th Floor, Apartado 6307, Panama 5, Republic of Panama, and [___________________], as Trustee (herein called the "Trustee").