Common use of REMEDIES OF THE TRUSTEE AND DEBENTUREHOLDERS Clause in Contracts

REMEDIES OF THE TRUSTEE AND DEBENTUREHOLDERS. ON AN EVENT OF DEFAULT 45 Section 7.01 Events of Default 45 Section 7.02 Payments of Debentures on Default; Suit Therefor 47 Section 7.03 Application of Monies Collected by Trustee 48 Section 7.04 Proceedings by Debentureholders 49 Section 7.05 Proceedings by Trustee 50 Section 7.06 Remedies Cumulative and Continuing 50 Section 7.07 Direction of Proceedings and Waiver of Defaults by Majority of Debentureholders 50 Section 7.08 Notice of Defaults 51 Section 7.09 Undertaking to Pay Costs 51 ARTICLE 8. THE TRUSTEE 51 Section 8.01 Duties and Responsibilities of Trustee 51 Section 8.02 Reliance on Documents, Opinions, Etc 53 Section 8.03 No Responsibility for Recitals, Etc 54 Section 8.04 Trustee, Paying Agents, Conversion Agents or Registrar May Own Debentures 54 Section 8.05 Monies to Be Held in Trust 54 Section 8.06 Compensation and Expenses of Trustee 55 Section 8.07 Officers’ Certificate or Opinion of Counsel as Evidence 55 Section 8.08 Conflicting Interests of Trustee 55 Section 8.09 Eligibility of Trustee 55 Section 8.10 Resignation or Removal of Trustee 56 Section 8.11 Acceptance by Successor Trustee 57 Section 8.12 Succession by Merger, Etc 57 Section 8.13 Preferential Collection of Claims 58 Section 8.14 Trustee’s Application for Instructions from the Company 58 ARTICLE 9. THE DEBENTUREHOLDERS 58 Section 9.01 Action by Debentureholders 58 Section 9.02 Proof of Execution by Debentureholders 59 Section 9.03 Who Are Deemed Absolute Owners 59 Section 9.04 Company-Owned Debentures Disregarded 59

REMEDIES OF THE TRUSTEE AND DEBENTUREHOLDERS. ON AN EVENT OF DEFAULT 45 44 Section 7.01 Events of Default 45 44 Section 7.02 Payments of Debentures on Default; Suit Therefor 47 46 Section 7.03 Application of Monies Collected by Trustee 48 47 Section 7.04 Proceedings by Debentureholders 49 48 Section 7.05 Proceedings by Trustee 50 49 Section 7.06 Remedies Cumulative and Continuing 50 49 Section 7.07 Direction of Proceedings and Waiver of Defaults by Majority of Debentureholders 50 49 Section 7.08 Notice of Defaults 51 50 Section 7.09 Undertaking to Pay Costs 51 50 ARTICLE 8. THE TRUSTEE 51 50 Section 8.01 Duties and Responsibilities of Trustee 51 50 Section 8.02 Reliance on Documents, Opinions, Etc 53 Etc. 52 Section 8.03 No Responsibility for Recitals, Etc 54 Etc. 52 Section 8.04 Trustee, Paying Agents, Conversion Agents or Registrar May Own Debentures 54 53 Section 8.05 Monies to Be Held in Trust 54 53 Section 8.06 Compensation and Expenses of Trustee 55 53 Section 8.07 Officers’ Certificate or Opinion of Counsel as Evidence 55 54 Section 8.08 Conflicting Interests of Trustee 55 54 Section 8.09 Eligibility of Trustee 55 54 Section 8.10 Resignation or Removal of Trustee 56 54 Section 8.11 Acceptance by Successor Trustee 57 55 Section 8.12 Succession by Merger, Etc 57 Etc. 56 Section 8.13 Preferential Collection of Claims 58 56 Section 8.14 Trustee’s Application for Instructions from the Company 58 56 ARTICLE 9. THE DEBENTUREHOLDERS 58 57 Section 9.01 Action by Debentureholders 58 57 Section 9.02 Proof of Execution by Debentureholders 59 57 Section 9.03 Who Are Deemed Absolute Owners 59 57 Section 9.04 Company-Owned Debentures Disregarded 5958