Common use of Intervention by the Trustee Clause in Contracts

Intervention by the Trustee. In any judicial proceeding to which the Issuer is a party which, in the opinion of the Trustee and its counsel, has a substantial bearing on the interests of owners of the Bonds, the Trustee may intervene on behalf of Bondholders and shall do so if requested in writing by the owners of at least a majority of the aggregate principal amount of Bonds then outstanding, provided that the Trustee shall first have been offered indemnification in accordance with Section 10.01(1) hereof against such liability as it may incur in or by reason of such proceeding. The rights and obligations of the Trustee under this Section are subject to the approval of a court of competent jurisdiction.

Intervention by the Trustee. In any judicial proceeding to which the Issuer is a party which, in the opinion of the Trustee and its counsel, has a substantial bearing on the interests of owners of the Bonds, the Trustee may intervene on behalf of Bondholders and shall do so if requested in writing by the owners of at least a majority of the aggregate principal amount of Bonds then outstanding, provided that the Trustee shall first have been offered indemnification in accordance with with Section 10.01(110.01 (1) hereof against such liability as it may incur in or by reason of such proceeding. The rights and obligations of the Trustee under this Section are subject to the approval of a court of competent jurisdiction.