TRUSTEE ACTIONS Sample Clauses
The "Trustee Actions" clause defines the powers and responsibilities of the trustee in managing and administering the trust. It typically outlines the specific actions the trustee is authorized to take, such as making investments, distributing assets to beneficiaries, or entering into contracts on behalf of the trust. This clause ensures that the trustee has clear authority to act in accordance with the trust's terms and provides guidance on the scope of their decision-making. Its core function is to delineate the trustee's operational boundaries, thereby preventing disputes and ensuring the trust is managed effectively and in line with the settlor's intentions.
TRUSTEE ACTIONS. In acting hereunder, the Trustee shall have the rights, protections and immunities granted to it under the Indenture.
TRUSTEE ACTIONS. In acting hereunder, the 2014 Bond Trustee shall have the rights, protections and immunities granted to it under the 2014 Indenture, and the 2023 Bond Trustee shall have the rights, protections and immunities granted to it under the 2023 Indenture.
TRUSTEE ACTIONS. Except upon the occurrence and during the continuance of the Specified Conditions or a Control Event, the Trustee may not exercise control over any Account or other Collateral or exercise any other rights and remedies against any Obligor or any of the Collateral; provided that the Trustee may act, if any Event of Default has occurred and is continuing of which a Responsible Trust Officer has received written notice or has actual knowledge, in other circumstances where action is reasonably required before any necessary instructions may be received by the Trustee from the Required Secured Parties in accordance with this Agreement, to the extent it deems necessary and without instruction from the Required Secured Parties, in order to
(i) protect the Collateral,
(ii) instruct or give any notice to the Obligors required hereunder, or
(iii) otherwise protect the interests of the Secured Parties hereunder; provided, however, the Trustee shall not be responsible or liable in any way to any of the Secured Parties for its failure to take any action pursuant to this clause (c). For purposes of clarification, the Trustee’s obligations under Section 8.5 or Section 8.6 hereof shall not be considered discretionary action that is subject to the terms of this clause (c).
TRUSTEE ACTIONS. Client agrees to indemnify and hold CALPAC blameless for any and all errors or omissions which are the result of actions by the Trustee.
TRUSTEE ACTIONS. Notwithstanding any provision hereof to the contrary, and to the extent consistent with and allowed by ERISA (including ERISA Sections 409 and 410), the Parties acknowledge and agree that any person signing this Agreement solely in his/her capacity as trustee of any Trust which is a party to this Agreement is not acting in his/her individual capacity, but is acting solely as trustee of the Trust which is a party hereto, and in no event shall any person executing this Agreement solely in his/her capacity as a trustee of any Trust which is a party hereto have any personal Liability hereunder whatsoever, whether for any actual or alleged breach of any provision hereof or otherwise, it being expressly agreed by all Parties that any liability hereunder on the part of any such Trust shall be satisfied solely from the trust estate of such Trust and not from the personal assets of any trustee thereof, except to the extent expressly provided otherwise in Section 9.06(b). [Signature page follows.] CH\1406641