Guarantee Trustee Clause Samples
The Guarantee Trustee clause designates a third party, known as the trustee, to act on behalf of the beneficiaries or holders of a guarantee, typically in financial or bond agreements. The trustee is responsible for administering the terms of the guarantee, such as collecting payments, enforcing rights, or taking legal action if the guarantor defaults. This arrangement centralizes the enforcement of the guarantee, ensuring that all beneficiaries are represented collectively and efficiently, thereby reducing the administrative burden and potential conflicts among individual holders.
Guarantee Trustee. 10 Section 4.1. Guarantee Trustee: Eligibility.................................10 Section 4.2. Appointment, Removal and Resignation of Guarantee Trustee......11
Guarantee Trustee. 8 Section 3.1 Guarantee Trustee; Eligibility..............................................................8 Section 3.2 Appointment, Removal and Resignation of Guarantee Trustee...................................9 ARTICLE IV GUARANTEE.....................................................................................10
Guarantee Trustee. Section 4.1 Guarantee Trustee; Eligibility 9 Section 4.2 Appointment, Removal and Resignation of the Guarantee Trustee 10
Guarantee Trustee. Section 4.1.
Guarantee Trustee. 10 Section 4.1. Guarantee Trustee; Eligibility................................
Guarantee Trustee. 8 Section 4.1. Guarantee Trustee; Eligibility 8 Section 4.2. Appointment, Removal and Resignation of the Guarantee Trustee 8 ARTICLE V. GUARANTEE 8 Section 5.1. Guarantee 8 Section 5.2. Waiver of Notice and Demand 9 Section 5.3. Obligations Not Affected 9 Section 5.4. Rights of Holders 10 Section 5.5. Guarantee of Payment 10 Section 5.6. Subrogation 10 Section 5.7. Independent Obligations 10 ARTICLE VI.
Guarantee Trustee. Eligibility
(a) There shall at all times be a Guarantee Trustee which shall:
(i) not be an Affiliate of the Company; and
(ii) be a corporation organized and doing business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a corporation or Person permitted by the Securities and Exchange Commission to act as an institutional trustee under the Trust Indenture Act, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, and subject to supervision or examination by federal, state, territorial or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the supervising or examining authority referred to above, then for the purposes of this Section 4.1(a)(ii), the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
(b) If at any time the Guarantee Trustee shall cease to be eligible to so act under Section 4.1(a), the Guarantee Trustee shall immediately resign in the manner and with the effect set out in Section 4.2(c).
(c) If the Guarantee Trustee has or shall acquire any "conflicting interest" within the meaning of Section 310(b) of the Trust Indenture Act, the Guarantee Trustee and Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.
Guarantee Trustee. Section 3.01.
Guarantee Trustee. 9 SECTION 4.01
Guarantee Trustee. 9 Section 4.1. Guarantee Trustee: Eligibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .