Common use of RESPONSIBILITY OF TRUSTEE AFTER SALE AND CONVERSION Clause in Contracts

RESPONSIBILITY OF TRUSTEE AFTER SALE AND CONVERSION. The Trustee shall be under no obligation to invest the proceeds of any sale of the Direct Royalties or other assets or cash forming part of the Trust Fund after the date referred to in Section 12.4 and, after such sale, the sole obligation of the Trustee under this Indenture shall be to hold such proceeds in trust for distribution under Section 12.6.

Appears in 4 contracts

Sources: Trust Indenture (Baytex Energy Trust), Trust Indenture (Harvest Energy Trust), Trust Indenture (Harvest Energy Trust)

RESPONSIBILITY OF TRUSTEE AFTER SALE AND CONVERSION. The Trustee shall be under no obligation to invest the proceeds of any sale of the Direct Royalties or other assets or cash forming part of the Trust Fund after the date referred to in Section 12.4 13.4 and, after such sale, the sole obligation of the Trustee under this Indenture shall be to hold such proceeds in trust for distribution under Section 12.613.6.

Appears in 2 contracts

Sources: Trust Indenture (Canetic Resources Trust), Trust Indenture (Enterra Energy Trust)

RESPONSIBILITY OF TRUSTEE AFTER SALE AND CONVERSION. The Trustee shall be under no obligation to invest the proceeds of any sale of the Direct Royalties investments or other assets or cash forming part of the Trust Fund after the date referred to in Section 12.4 14.04 and, after such sale, the sole obligation of the Trustee under this Indenture shall be to hold such proceeds in trust for distribution under Section 12.614.06.

Appears in 2 contracts

Sources: Trust Indenture (Pengrowth Energy Trust), Trust Indenture (Pengrowth Energy Trust)

RESPONSIBILITY OF TRUSTEE AFTER SALE AND CONVERSION. The Trustee shall be under no obligation to invest the proceeds of any sale of the Direct Royalties Investments or other assets or cash forming part of the Trust Fund after the date referred to in Section 12.4 13.04 and, after such sale, the sole obligation of the Trustee under this Indenture shall be to hold such proceeds in trust for distribution under Section 12.613.06.

Appears in 1 contract

Sources: Trust Indenture (Enerplus Resources Fund)

RESPONSIBILITY OF TRUSTEE AFTER SALE AND CONVERSION. The Trustee shall be under no obligation to invest the proceeds of any sale of the Direct Royalties or other assets or cash forming part of the Trust Fund after the date referred to in Section 12.4 and, after such sale, the sole obligation of the Trustee under this Indenture shall be to hold such proceeds in trust for distribution under Section 12.6.

Appears in 1 contract

Sources: Trust Indenture (Enterra Energy Trust)