Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee unless such Defaults have been cured before the giving of such notice; provided that, except for a Default in the payment of principal of (or premium, if any) or interest on any of the Notes, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities. (b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default except: (i) Default or Event of Default under Sections 5.01(a) and 5.01(b) of the Indenture; or (ii) any Default or Event of Default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge. (c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 2 contracts
Sources: Trust Agreement (Nexity Financial Corp), Trust Agreement (Waccamaw Bankshares Inc)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days five (5) Business Days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7 being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for with respect to a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a) and 5.01(b) 5.1 or 5.3 of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 2 contracts
Sources: Trust Agreement (Berkley W R Corp), Trust Agreement (Berkley W R Corp)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after the occurrence of an Event of Default actually known to a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of DefaultTrustee, transmit by mail, first class postage prepaid, to the Holders of Holders, the Securities, Administrative Trustees Trustee and the CompanySponsor, notices written notice of all Defaults with respect to the Securities actually known to a Responsible Officer such Event of the Property Trustee Default, unless such Defaults have Event of Default has been cured before the giving of such notice; provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesTrust Preferred Securities or the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the SecuritiesHolders.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default a default under subparagraph (b) or (c) of the definition "Event of Default Default" in this Agreement;
(ii) a default under Sections 5.01(a) and 5.01(b) of the Indenture; or
(iiiii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 2 contracts
Sources: Trust Agreement (Agl Capital Trust Ii), Trust Agreement (Agl Capital Trust Iii)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term “defaults” for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections [5.01(a) and 5.01(b) )] of the Indenture; or
(ii) any Default or Event of Default default as to which a Responsible Officer of the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 2 contracts
Sources: Trust Agreement, Trust Agreement (Allstate Financing X)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after the occurrence of a Default actually known to a Responsible Officer of the Property Trustee obtains (or, if later, within 30 days after a Responsible Officer has actual knowledge of the occurrence of an Event of a Default), transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the CompanyHolders, notices of all such Defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Securities, unless such Defaults have been cured before the giving of such notice; provided that, except for a Default in the payment of principal of (or premium, if any) or interest (including Compounded Interest and Additional Sums (as such terms are defined in the Indenture), if any) on any of the NotesDebentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the SecuritiesHolders.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default except:
(i) Default or Event of Default a default under Sections 5.01(a) and 5.01(bof (b) of the Indenture; or
(ii) for any Default or Event of Default as to which the Property Trustee shall have received written notice specifying such Default and stating that such notice is a "Notice of Default" or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Defaulta Default (as such term is defined in the Indenture) actually known to a Responsible Officer, transmit by mail, first class postage prepaid, to the Holders of the Preferred Securities, the Administrative Trustees and the CompanySponsor, notices of all Defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Officer, unless such Defaults have been cured before the giving of such notice; provided that, except for a Default default in the payment of principal -------- ---- of or interest (or premium, including Compounded Interest and Additional Sums (as such terms are defined in the Indenture) if any) or interest , on any of the NotesDebentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of Holders. The Sponsor and the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default except:
(i) Default or Event of Default under Sections 5.01(a) and 5.01(b) of the Indenture; or
(ii) any Default or Event of Default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust AgreementDeclaration.
(b) The Property Trustee shall not be deemed to have knowledge of any default except:
(i) a default under Sections 5.01(a) (other than the payment of Compounded Interest and Additional Sums, each as defined in the Indenture) and 5.01(b) of the Indenture provided that the Property Trustee is the Paying Agent under the Indenture; or
(ii) any default as to which the Property Trustee shall have received written notice at the corporate trust office of the Property Trustee and such notice references the Preferred Securities and this Declaration or of which a Responsible Officer charged with the administration of the Declaration shall have actual knowledge.
Appears in 1 contract
Sources: Declaration of Trust (Sandy Spring Capital Trust I)
Event of Default; Notice. (a) The Property Institutional Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Institutional Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.07(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Institutional Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Institutional Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Institutional Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
: (i) Default or Event of Default a default under Sections 5.01(a501(1), 501(2) and 5.01(b501(3) of the Indenture; or
(ii) any Default or Event of Default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Defaulta default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults with respect to the Securities actually defaults known to a Responsible Officer of the Property Trustee unless such Defaults other than defaults that have been cured or waived before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to include Debenture Events of Default, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on on, or in the delivery of any cash, securities or other property in exchange for or upon conversion or redemption of or otherwise in accordance with the Notesterms of, any Debenture or the Securities, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a501(1) and 5.01(b501(2) of the Indenture; or;
(ii) any Default failure to deliver any cash, securities or Event other property in exchange for or upon conversion or redemption of Default or otherwise in accordance with the terms of the Debentures or the Securities; and
(iii) any default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company Sponsor and the Administrative Trustees Trustee shall file annually within 30 days after June 15 of each year, commencing with June 15, 2005, with the Property Trustee in accordance with Section 314(a)(4) of the Trust Indenture Act a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Trust Agreement (Dte Energy Co)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) , or interest on any of the NotesDebentures, the Property Trustee shall be fully protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge Within five Business Days after the occurrence of any Default or Event of Default except:
(i) Default or Event of Default under Sections 5.01(a) and 5.01(b) of actually known to the Indenture; or
(ii) any Default or Event of Default as to which Property Trustee, the Property Trustee shall have received written transmit notice or of which a Responsible Officer such Event of Default to the Holders of the Property Trustee charged with Capital Securities, the administration Administrative Trustees and the Sponsor, unless such Event of the Trust Agreement Default shall have actual knowledge.
(c) been cured or waived. The Company Sponsor and the Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust AgreementDeclaration.
(c) For purposes of this Section 2.7, the Property Trustee shall not be deemed to have knowledge of any default or Event of Default except:
(i) a default under Sections 5.1(a) and 5.1(b) of the Indenture; or
(ii) any default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Declaration shall have actual knowledge.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults Exhibit (4)(s) have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Indenture Event of Default, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
: (i) Default or Event of Default a default under Sections 5.01(a5.1(a), 5.1(b) and 5.01(b5.1(c) of the Indenture; or
or (ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the this Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Trust Agreement (Weyerhaeuser Co)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a7.1(a) and 5.01(b(b) of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledgeActual Knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Exchange Agreement (Insignia Financial Group Inc /De/)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Defaultany default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees Securities and to the CompanySponsor, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.07(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the Senior Notes, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a5.1(a) and 5.01(b5.1(b) of the Base Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company Sponsor and the Administrative Trustees shall file annually with the Property Trustee Trustee, no later than 120 days after the end of each fiscal year of the Sponsor, a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults Exhibit (4)(t) have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Indenture Event of Default, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
: (i) Default or Event of Default a default under Sections 5.01(a5.1(a), 5.1(b) and 5.01(b5.1(c) of the Indenture; or
or (ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the this Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Trust Agreement (Weyerhaeuser Co)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Trust Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Trust Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided thatPROVIDED THAT, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesSubordinated Debentures, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer Officers of the Property Trustee in good faith determines determine that the withholding of such notice is in the interests of the Holders of the Trust Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a401(l) and 5.01(b401(2) of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement this Declaration shall have obtained written or actual knowledgenotice.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Guarantee Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders Holders, notice of the Securities, Administrative Trustees and the Company, notices any such Event of all Defaults with respect Default known to the Securities actually known to a Responsible Officer of the Property Trustee Guarantee Trustee, unless such Defaults have Event of Default has been cured before the giving of such notice; , provided that, except for in the case of a Default default in the payment of principal of (or premium, if any) or interest on any of the Notesa Guarantee Payment, the Property Guarantee Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officer Officers of the Property Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the SecuritiesHolders.
(b) The Property Guarantee Trustee shall not be deemed to have actual knowledge of any Default or Event of Default except:
(i) Default or Event of Default under Sections 5.01(a) and 5.01(b) of unless the Indenture; or
(ii) any Default or Event of Default as to which the Property Guarantee Trustee shall have received written notice notice, or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust this Guarantee Agreement shall have obtained actual knowledge, of such Event of Default.
(c) The Company and Administrative Trustees shall file annually with Subject to the Property Trustee provisions of Section 4.4 hereof, in the case of a certification as to whether or not they are default by the Guarantor in compliance with all the conditions and covenants applicable to them any of its payment obligations under this Trust Guarantee Agreement, when and as the same shall become due and payable, the Guarantee Trustee shall have the right, subject to the rights of the Holders hereunder, to recover judgment against the Guarantor for the whole amount of such payments remaining unpaid.
Appears in 1 contract
Event of Default; Notice. (a) The Property Institutional Trustee shall, within 90 days after a Responsible Officer of the Property Institutional Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Institutional Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7 being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for with respect to a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Institutional Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Institutional Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Institutional Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default a default or Event of Default under Sections 5.01(a) and 5.01(b) 5.1 or 5.3 of the Indenture; or
(ii) any Default default or Event of Default as to which the Property Institutional Trustee shall have received written notice or of which a Responsible Officer of the Property Institutional Trustee charged with the administration of the Trust Agreement Declaration shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Defaultany default with respect to the Securities, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees Securities and to the CompanySponsor, notices of all Defaults with respect to the Securities such defaults actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be a Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures, the Property Trustee shall be protected in withholding such notice if and so long as a committee of Responsible Officer Officers of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
12 19 (i) Default or Event of Default a default under Sections 5.01(a6.01(a) and 5.01(b6.01(b) of the Indenture; or
(ii) any Default or Event of Default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Trust Agreement (Hercules Inc)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an a Declaration Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Indenture Event of Default, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or Responsible Officer Officers of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a501(1) and 5.01(b501(2) of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement Declaration shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Declaration of Trust (American Equity Investment Life Holding Co)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided PROVIDED that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesTrust Debentures, the Property Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or Responsible Officer Officers of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a6.01(a) and 5.01(b6.01(b) of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee shall have actual knowledge or a Responsible Officer charged with the administration of the Trust Agreement Declaration shall have actual knowledgeobtained written notice.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Trust Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Trust Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the Notes or in the payment of any sinking fund installment established for the Notes, the Property Trustee shall be protected in withholding such notice if and so long as a Responsible Officer Officers of the Property Trustee in good faith determines determine that the withholding of such notice is in the interests of the Holders of the Trust Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a501(1) and 5.01(b501(2) of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement Declaration shall have obtained written or actual knowledgenotice.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by certified mail, first class postage prepaidreturn receipt requested, or by overnight courier, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided thatPROVIDED THAT, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures, the Property Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or Responsible Officer Officers of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have knowledge of any default unless a Responsible Officer has actual knowledge of any Default or Event of Default except:
(i) Default or Event of Default under Sections 5.01(a) and 5.01(b) of the Indenture; or
(ii) any Default or Event of Default as to which the Property Trustee shall have has received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledgesuch default.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Declaration of Trust (Zenith National Insurance Corp)
Event of Default; Notice. (a) The Property Institutional Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Institutional Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Indenture Event of Default with respect to the Debentures, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures, the Property Institutional Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Institutional Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Institutional Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default with respect to the Debentures except:
: (i) Default or Event of Default a default with respect to the Debentures under Sections 5.01(a(A) and 5.01(b) [Section 501(1)] of the Base Indenture, as amended and restated by [Section 2.9(c)] of the Supplemental Indenture, or (B) [Section 501(2)] of the Base Indenture; or
(ii) any Default or Event of Default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Guarantee Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Company (with a copy to the Holders of the Class B Preferred Securities (and, if and for so long as a Trust is the Holder of the Class B Preferred Securities, Administrative Trustees and also to the CompanyHolders of the Trust Securities)), notices of all Defaults with respect to the Securities Events of Default actually known to a Responsible Officer of the Property Trustee Guarantee Trustee, unless such Defaults defaults have been cured before the giving of such notice; provided , provided, that, except for a Default in the payment of principal of (or premium, if any) or interest on any of the Notes, the Property Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Class B Preferred Securities.
(b) The Property Guarantee Trustee shall not be deemed to have actual knowledge of any Default or Event of Default except:
(i) Default or Event of Default under Sections 5.01(a) and 5.01(b) unless a Responsible Officer of the Indenture; or
(ii) any Default or Event of Default as to which the Property Guarantee Trustee shall have received written notice notice, or of which a Responsible Officer of the Property Guarantee Trustee charged with the administration of the Trust Agreement this Contingent Guarantee shall have obtained actual knowledge, of such Event of Default.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Defaultany default with respect to the Securities, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees Securities and to the CompanySponsor, notices of all Defaults with respect to the Securities such defaults actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "DEFAULTS" for the purposes of this Section 2.07(a) being hereby defined to be a Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the Subordinated Notes, the Property Trustee shall be protected in withholding such notice if and so long as a committee of Responsible Officer Officers of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a6.01(a) and 5.01(b6.01(b) of the Indenture; or
(ii) any Default or Event of Default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Sources: Trust Agreement (Hercules Inc)
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or Responsible Officer Officers of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a501(l) and 5.01(b501(2) of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement Declaration shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Institutional Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the SecuritiesHolders, Administrative Trustees and the Company, notices notice of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Officer, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.7(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or of, premium, if any) , or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Institutional Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders Holders; and provided further, that in the case of any default of the Securitiescharacter specified in Section 5.01(c) of the Indenture, no such notice to Holders shall be given until at least 60 days after the occurrence thereof but shall be given within 90 days after such occurrence.
(b) The Property Institutional Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a) and 5.01(bor (b) of the Indenture; or
(ii) any Default or Event of Default default as to which the Property Institutional Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement Declaration shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract
Event of Default; Notice. (a) The Property Trustee shall, within 90 days after a Responsible Officer of the Property Trustee obtains actual knowledge of the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Securities, Administrative Trustees and the Company, notices of all Defaults defaults with respect to the Securities actually known to a Responsible Officer of the Property Trustee Trustee, unless such Defaults defaults have been cured before the giving of such noticenotice (the term "defaults" for the purposes of this Section 2.07
(a) being hereby defined to be an Event of Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the giving of any notice provided therein); provided that, except for a Default default in the payment of principal of (or premium, if any) or interest on any of the NotesDebentures or in the payment of any sinking fund installment established for the Debentures, the Property Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or Responsible Officer Officers of the Property Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities.
(b) The Property Trustee shall not be deemed to have actual knowledge of any Default or Event of Default default except:
(i) Default or Event of Default a default under Sections 5.01(a5.1
(1) and 5.01(b5.1
(2) of the Indenture, provided that the Property Trustee is also the Paying Agent under the Indenture; or
(ii) any Default or Event of Default default as to which the Property Trustee shall have received written notice or of which a Responsible Officer of the Property Trustee charged with the administration of the Trust Agreement Declaration shall have actual knowledge.
(c) The Company and Administrative Trustees shall file annually with the Property Trustee a certification as to whether or not they are in compliance with all the conditions and covenants applicable to them under this Trust Agreement.
Appears in 1 contract