Common use of Trustee to Give Notice of Default, But May Withhold in Certain Circumstances Clause in Contracts

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within ninety days after the occurrence of a Default with respect to the Securities of any series of which a Responsible Officer of the Trustee has actual knowledge, by mailing notice to the Holders of then Outstanding Registered Securities of each series affected at their addresses as they shall appear on the registry books, unless in each case such Default shall have been cured before the mailing or publication of such notice; provided that, except in the case of a Default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking fund installment on such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of such series.

Appears in 4 contracts

Sources: Indenture (Royal Bank of Scotland Group PLC), Indenture (Abn Amro Bank Nv), Subordinated Indenture (Abn Amro Bank Nv)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within ninety days after the occurrence of a Default with respect to the Securities of any series of which a Responsible Officer of the Trustee has actual knowledge, by mailing notice shall give to the Holders of then Outstanding Registered all of the Securities of each all series affected at their affected, as the names and addresses as they shall of such Holders appear on the registry booksRegister, notice by mail of all Events of Default known to the Trustee which have occurred with respect to such series, such notice to be transmitted within 45 days after the Trustee obtains actual knowledge thereof, unless in each case such Events of Default shall have been cured before the mailing or publication giving of such notice; provided that, except in the case of a Default default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking or purchase fund installment on with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers responsible officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders Holders of such series.

Appears in 2 contracts

Sources: Indenture (Leidos Holdings, Inc.), Indenture (Leidos Holdings, Inc.)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within ninety 90 days after the occurrence of a Default with respect to the Securities of any series, give notice of all Defaults with respect to that series of which actually known to a Responsible Officer of the Trustee has actual knowledge, by mailing notice and to all Holders of Securities of such series in the manner and to the Holders extent provided in Section 313(c) of then Outstanding Registered Securities of each series affected at their addresses as they shall appear on the registry booksTIA, unless in each case such Default Defaults shall have been cured before the mailing or publication of such notice; provided that, except in the case of a Default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking fund installment on such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers Officer of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of such series.

Appears in 2 contracts

Sources: Indenture (Rj Reynolds Tobacco Holdings Inc), Indenture (Reynolds R J Tobacco Co)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within Within ninety (90) days after the occurrence of a Default with respect to the Securities of any series of which a Responsible Officer of the Trustee has obtains actual knowledgeknowledge of the occurrence of any Default hereunder, the Trustee shall transmit by mailing notice mail to the all Holders of then Outstanding Registered Securities of each series affected at as their addresses as they names shall appear on the registry booksRegister, in the manner and to the extent provided in the Trust Indenture Act Section 313(c), notice of such Default hereunder, unless in each case such Default shall have been cured before the mailing or publication of such noticewaived; provided provided, however, that, except in the case of a Default in the payment of the principal of of, or interest or Additional Amounts, if any, on any of the Securities of such series, or in the payment of any sinking fund installment on such seriesSecurity, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, committee or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines determine that the withholding of such notice is in the interests interest of the Securityholders of such seriesHolders.

Appears in 2 contracts

Sources: Indenture (Telefonica of Argentina Inc), Indenture (Telefonica of Argentina Inc)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within ninety 90 days after the occurrence of a Default with respect to the Securities of any series, give notice of all Defaults with respect to that series of which actually known to a Responsible Officer of the Trustee has actual knowledge, by mailing notice and to all Holders of Securities of such series in the manner and to the Holders extent provided in Section 313(c) of then Outstanding Registered Securities of each series affected at their addresses as they shall appear on the registry booksTIA, unless in each case such Default Defaults shall have been cured before the mailing or publication of such notice; provided provided, that, except in the case of a Default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking fund installment on such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers Officer of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of such series.

Appears in 1 contract

Sources: Indenture (Reynolds American Inc)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within ninety Within 90 days after the occurrence of a any Default hereunder with respect to the Debt Securities of any series (or of which all series, as the case may be), the Trustee shall transmit by mail to all Holders of such series (or of all series, as the case may be) as their names shall appear on the Debt Security Register, in the manner and to the extent provided in the Trust Indenture Act Section 313(c), notice of such Default hereunder known to a Responsible Officer of the Trustee has actual knowledge, by mailing notice to the Holders of then Outstanding Registered Securities of each series affected at their addresses as they shall appear on the registry booksTrustee, unless in each case such Default shall have been cured before the mailing or publication of such noticewaived; provided provided, however, that, except in the case of a Default in the payment of the principal of or premium, if any, interest or Additional Amounts, if any, on any of the Securities of such series, or in the payment of any sinking fund installment on such seriesDebt Security, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, committee or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines determine that the withholding of such notice is in the interests interest of the Securityholders of such seriesHolders.

Appears in 1 contract

Sources: Indenture (Multicanal Sa)

Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall, within ninety days after the occurrence of a Default with respect to the Securities of any series of which a Responsible Officer of the Trustee has actual knowledge, by mailing notice shall give to the Holders of then Outstanding Registered all of the Securities of each all series affected at their affected, as the names and addresses as they shall of such Holders appear on the registry booksRegister, notice by mail of all Events of Default known to the Trustee which have occurred with respect to such series, such notice to be transmitted within 45 days after the Trustee obtains knowledge thereof, unless in each case such Events of Default shall have been cured before the mailing or publication giving of such notice; provided that, except in the case of a Default default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking or purchase fund installment on with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers responsible officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders Holders of such series.

Appears in 1 contract

Sources: Indenture (SAIC, Inc.)