Common use of Trustee to Give Notice of Default Clause in Contracts

Trustee to Give Notice of Default. But May Withhold in Certain Circumstances. The Trustee shall, within 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 known to the Trustee (i) if any Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in The Wall Street Journal in the Borough of Manhattan, The City of New York and (ii) to all Holders of Securities of such series in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, unless in each case such defaults shall have been cured before the mailing or publication of such notice (the term "default" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of 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 2 contracts

Sources: Subordinated Indenture (Citizens Communications Co), Senior Indenture (Citizens Communications Co)

Trustee to Give Notice of Default. But May Withhold in Certain Circumstances. The Trustee shall, within 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 known to the Trustee (i) if any Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in The Wall Street Journal an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.6, at least once in an Authorized Newspaper in Luxembourg) and (ii) to all Holders of Registered Securities of such series in as the manner names and addresses of such Holders appear upon the registry books of the Issuer, and to other Holders of Securities of such series as have filed their names and addresses with the extent provided in Section 313(c) Trustee within two years preceding the giving of the Trust Indenture Actsuch notice, unless in each case such defaults shall have been cured before the mailing or publication of such notice (the term "defaultdefaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of 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 best interests of the Securityholders of such seriesSeries.

Appears in 2 contracts

Sources: Indenture (Sysco Corp), Indenture (Sysco Corp)

Trustee to Give Notice of Default. But but May Withhold in Certain Circumstances. The Subject to Section 6.1(2)(e), the Trustee shall, within 90 ninety 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 actually known to a Responsible Officer of the Trustee (i1) if any Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in The Wall Street Journal an Authorized Newspaper in the Borough of Manhattan, The City of New York and (ii2) to all Holders of Securities of such series in the manner and to the extent provided in Section 313(c) of the Trust Indenture ActAct of 1939, unless in each case such defaults shall have been cured before the mailing or publication of such notice (the term "defaultdefaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or interest or Additional Amounts 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 2 contracts

Sources: Subordinated Indenture (Rediff Com India LTD), Senior Indenture (Rediff Com India LTD)

Trustee to Give Notice of Default. But May Withhold in Certain Circumstances. The Trustee shall, within 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 such series known to the Trustee (i) if any Unregistered Securities of that such series are then Outstanding, to the Holders thereof, thereof by publication at least once in The Wall Street Journal an Authorized Newspaper in the Borough of Manhattan, The City of New York York, and (ii) to ii)to all Holders of Securities of such series in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act4.4(c), unless in each case such defaults shall have been cured before the mailing or publication of such notice (the term "default" for the purpose of this Section Article being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or the interest on any of the Securities of such series, or in the payment of any sinking fund installment instalment or analogous payment on such series, 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 that the withholding of such notice is in the interests of the Securityholders of such series.

Appears in 1 contract

Sources: Indenture (Premark International Inc)

Trustee to Give Notice of Default. But May Withhold in Certain Circumstances. The Trustee shall, within 90 30 days after the occurrence of a default with respect to the Securities of any seriesseries of which the Trustee has actual notice, give notice in compliance with Section 10.4 of all defaults with respect to that series known to the Trustee (i) if any Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in The Wall Street Journal an Authorized Newspaper in the Borough of Manhattan, The City of New York and at least once in an Authorized Newspaper in London (and, if required by Section 3.7, at least once in an Authorized Newspaper in Luxembourg) and (ii) to all Holders of Securities of such series in the manner and to the extent provided in Section 313(c) of the Trust Indenture ActAct of 1939, unless in each case such defaults shall have been cured before the mailing or publication of such notice (the term "defaultdefaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of 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 instalment 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 1 contract

Sources: Indenture (Illinois Power Co)

Trustee to Give Notice of Default. But May Withhold in ------------------------------------------------------ Certain Circumstances. The Trustee shall, within 90 ninety 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 known to the Trustee (i) if any Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in The Wall Street Journal an Authorized Newspaper in the Borough of Manhattan, The City of New York _________ and at least once in an Authorized Newspaper in London and (ii) to all Holders of Securities of such series in the manner and to the extent provided in Section 313(c) of the Trust Indenture ActAct of 1939, unless in each case such defaults shall have been cured before the mailing or publication of such notice (the term "defaultdefaults" for the purpose of this Section being hereby defined to mean any event or condition which that is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of 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 1 contract

Sources: Prepaid Security Indenture (Household International Inc)

Trustee to Give Notice of Default. But May Withhold in Certain Circumstances. The Trustee shall, within 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 known to the Trustee (i) if any Unregistered Securities of that series are then Outstanding, to the Holders thereof, by publication at least once in The Wall Street Journal an Authorized Newspaper in the Borough of Manhattan, The City of New York York, and at least once in an Authorized Newspaper in London (and, if required by Section 3.7, at least once in an Authorized Newspaper in Luxembourg) and (ii) to all Holders of Securities of such series in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, herein unless in each case such defaults shall have been cured before the mailing or publication of such notice (the term "defaultdefaults" for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of 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 1 contract

Sources: Indenture (Tenneco Packaging Inc)