Common use of Held by Trustee Clause in Contracts

Held by Trustee. Any securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee or of any Canadian Imperial Bank of Commerce, Bank of Montreal, Bank of Nova Scotia, The Toronto-Dominion Bank, the Royal Bank of Canada and the Hongkong Bank of Canada or deposited for safekeeping with any of those Canadian chartered banks. Unless herein otherwise expressly provided, any money so held pending the application or withdrawal thereof under any provision of this Indenture shall be deposited in the name of the Trustee in any of the foregoing Canadian chartered banks at the rate of interest then current on similar deposits. Unless the Company is in default hereunder, all interest or other income received by the Trustee in respect of deposits and investments will belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the Warrantholders.

Appears in 1 contract

Sources: Warrant Indenture (Vista Gold Corp)

Held by Trustee. Any securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee or of any Canadian Imperial The Royal Bank of Commerce, Bank of Montreal, Bank of Nova ScotiaCanada, The Toronto-Dominion Bank, the Royal The Bank of Canada and the Hongkong Montreal, The Bank of Canada Nova Scotia or the Canadian Imperial Bank of Commerce (the "Designated Banks") or deposited for safekeeping with any of those Canadian chartered bankssuch Designated Bank. Unless herein otherwise expressly provided, any money so held pending the application or withdrawal thereof under any provision provisions of this Indenture shall may be deposited in the name of the Trustee in any of the foregoing Canadian chartered banks a Designated Bank at the rate of interest (if any) then current on similar depositsdeposits or, with the consent of the Corporation, may be (i) deposited in the deposit department of the Trustee or any other loan or trust corporation authorized to accept deposits under the laws of Canada or a province thereof, or (ii) invested in securities issued or guaranteed by the Government of Canada or a province thereof or in obligations maturing not more than one year from the date of investment, of any Canadian chartered bank or loan or trust corporation. Unless the Company is Corporation shall be in default hereunder, all interest or other income received by the Trustee in respect of such deposits and investments will shall belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the WarrantholdersCorporation.

Appears in 1 contract

Sources: Warrant Indenture (Westlink Resources LTD)

Held by Trustee. Any monies, securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee Trustee, or an Affiliate of the Trustee, or of any Canadian Imperial Bank of Commerce, Bank of Montreal, Bank of Nova Scotia, The Toronto-Dominion Bank, the Royal Bank of Canada and the Hongkong Bank of Canada chartered bank or deposited for safekeeping with any of those Canadian chartered bankssuch bank. Unless herein otherwise expressly provided, any money so monies held pending the application or withdrawal thereof under any provision provisions of this Indenture shall may be deposited in the name of the Trustee in any the deposit department of the foregoing Trustee or in any Canadian chartered banks bank at the rate of interest (if any) then current on similar depositsdeposits or, with the consent or at the written direction of the Corporation, may be: (i) deposited in the deposit department of the Trustee or any other trust company authorized to accept deposits under the laws of Canada or a province thereof; or (ii) invested in securities issued or guaranteed by the Government of Canada or a province thereof or of any Canadian chartered bank or trust company, provided that the securities shall not have a maturity date of more than 60 days from the date of investment. Unless the Company is Corporation shall be in default hereunderhereunder or unless otherwise specifically provided herein, all interest or other income received by the Trustee in respect of such deposits and investments will shall belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the WarrantholdersCorporation.

Appears in 1 contract

Sources: Warrant Indenture (Golden Star Resources LTD)

Held by Trustee. Any securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee or of the Bank or of any other Canadian Imperial Bank of Commerce, Bank of Montreal, Bank of Nova Scotia, The Toronto-Dominion Bank, the Royal Bank of Canada and the Hongkong Bank of Canada chartered bank or deposited for safekeeping with any such bank. Pending the application or withdrawal of those Canadian chartered banks. Unless any moneys so held under any provision of this Trust Indenture, the Trustee, unless it is herein otherwise expressly provided, any money so held pending may deposit the application or withdrawal thereof under any provision of this Indenture shall be deposited same in the name of the Trustee in the Bank or in any of the foregoing other Canadian chartered banks bank at the rate of interest (if any) then current on similar depositsdeposits or, if so directed by written order of the Bank, shall (i) deposit such moneys in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or a province thereof, or (ii) invest such moneys in securities issued or guaranteed by the Government of Canada or a province thereof or in obligations, maturing not more than one year from the date of investment, of the Bank or of any other Canadian chartered bank or loan or trust company. Unless the Company is in an event of default hereunderor an other default shall have occurred and be continuing, all interest or other income received by the Trustee in respect of such deposits and investments will shall belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the WarrantholdersBank.

Appears in 1 contract

Sources: Trust Indenture (Bank of Montreal /Can/)

Held by Trustee. Any securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee or of the Bank or of any other Canadian Imperial Bank of Commerce, Bank of Montreal, Bank of Nova Scotia, The Toronto-Dominion Bank, the Royal Bank of Canada and the Hongkong Bank of Canada chartered bank or deposited for safekeeping with any such bank. Pending the application or withdrawal of those Canadian chartered banks. Unless any moneys so held under any provision of this Trust Indenture, the Trustee, unless it is herein otherwise expressly provided, any money so held pending may deposit the application or withdrawal thereof under any provision of this Indenture shall be deposited same in the name of the Trustee in the Bank or in any of the foregoing other Canadian chartered banks bank at the rate of interest (if any) then current on similar depositsdeposits or, if so directed by written order of the Bank, shall (i) deposit such moneys in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or a province thereof, or (ii) invest such moneys in securities issued or guaranteed by the Government of Canada or a province thereof or in obligations, maturing not more than one year from the date of investment, of the Bank or of any other Canadian chartered bank or loan or trust company . Unless the Company is in an event of default hereunderor an other default shall have occurred and be continuing, all interest or other income received by the Trustee in respect of such deposits and investments will shall belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the WarrantholdersBank.

Appears in 1 contract

Sources: Trust Indenture (Bank of Montreal /Can/)

Held by Trustee. Any securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee or of the Bank or of any other Canadian Imperial Bank of Commerce, Bank of Montreal, Bank of Nova Scotia, The Toronto-Dominion Bank, the Royal Bank of Canada and the Hongkong Bank of Canada chartered bank or deposited for safekeeping with any such bank. Pending the application or withdrawal of those Canadian chartered banks. Unless any moneys so held under any provision of this Trust Indenture, the Trustee, unless it is herein otherwise expressly provided, any money so held pending may deposit the application or withdrawal thereof under any provision of this Indenture shall be deposited same in the name of the Trustee in the Bank or in any of the foregoing other Canadian chartered banks bank at the rate of interest (if any) then current on similar depositsdeposits or, if so directed by written order of the Bank, shall (i) deposit such moneys in the deposit department of the Trustee or any other loan or trust company authorized to accept deposits under the laws of Canada or a province thereof, or (ii) invest such moneys in securities issued or guaranteed by the Government of Canada or a province thereof or in obligations, maturing not more than one year from the date of investment, of the Bank or of any other Canadian chartered bank or loan or trust company. Unless the Company is in an event of default hereundershall have occurred and be continuing, all interest or other income received by the Trustee in respect of such deposits and investments will shall belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the WarrantholdersBank.

Appears in 1 contract

Sources: Trust Indenture (Bank of Montreal /Can/)

Held by Trustee. Any securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee or of any Canadian Imperial Bank of Commerce, Bank of Montreal, Bank of Nova Scotia, The Toronto-Dominion Bank, the Royal Bank of Canada and the Hongkong Bank of Canada chartered bank or deposited for safekeeping with any of those Canadian chartered bankssuch bank. Unless herein otherwise expressly provided, any money so monies held pending the application or withdrawal thereof under any provision provisions of this Indenture shall may be deposited in the name of the Trustee in any the deposit department of the foregoing Trustee or in any Canadian chartered banks bank at the rate of interest (if any) then current on similar depositsdeposits or, with the consent or at the written direction of the Corporation, may be: (i) deposited in the deposit department of the Trustee or any other trust company authorized to accept deposits under the laws of Canada or a province thereof; or (ii) invested in securities issued or guaranteed by the Government of Canada or a province thereof or of any Canadian chartered bank or trust company, provided that the securities shall not have a maturity date of more than 60 days from the date of investment. Unless the Company is Corporation shall be in default hereunderhereunder or unless otherwise specifically provided herein, all interest or other income received by the Trustee in respect of such deposits and investments will shall belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the WarrantholdersCorporation.

Appears in 1 contract

Sources: Purchase Warrant Indenture (Minera Andes Inc /Wa)

Held by Trustee. Any securities, documents of title or other instruments that may at any time be held by the Trustee subject to the trusts hereof may be placed in the deposit vaults of the Trustee or of any Canadian Imperial Bank of Commerce, Bank of Montreal, Bank of Nova Scotia, The Toronto-Dominion Bank, the Royal Bank of Canada and the Hongkong Bank of Canada chartered bank or deposited for safekeeping with any of those Canadian chartered bankssuch bank. Unless herein otherwise expressly provided, any money so monies held pending the application or withdrawal thereof under any provision provisions of this Indenture shall may be deposited in the name of the Trustee in any the deposit department of the foregoing Trustee or in any Canadian chartered banks bank at the rate of interest (if any) then current on similar depositsdeposits or, with the consent or at the written direction of the Corporation, may be: (i) deposited in the deposit department of the Trustee or any other trust company authorized to accept deposits under the laws of Canada or a province thereof; or (ii) invested in short term obligations of the Government of Canada or a province thereof or in other short term investment grade debt obligations as agreed to by the Corporation and the Agents. Unless the Company is Corporation shall be in default hereunderhereunder or unless otherwise specifically provided herein, all interest or other income received by the Trustee in respect of such deposits and investments will shall belong to the Company. Action by Trustee to Protect Interests The Trustee shall have the power to institute and to maintain such actions and proceedings as it may consider necessary or expedient to preserve or protect its interests and the interests of the WarrantholdersCorporation.

Appears in 1 contract

Sources: Special Warrant Indenture (Minera Andes Inc /Wa)