HomeMy WebLinkAbout0093 during any period in which it may be in the possession of
or managing the trust estate as in this Agreement provided, _
if such debts, damages, salaries, or contracts have been
incurred, suffered, earned, or made in connection with such
possession or management.
Section 9.05. BRINGING AND DEFENDING LEGAI, ACTIONS.
The Trustee shall be under no obliqation to institute any
suit, or to take any proceeding under this Agreement, or
to enter any appearance or in any way defend in any suit
in which it may be made defendant, or to take any steps in
the execution of the trusts hereby created or in the enforcement
of any rights and powers hereunder, until it shall be indemnified
to its satisfaction against any and all costs and expenses,
outlays and counsel fees and other reasonable disbursements,
and against all liability; the Trustee may, nevertheless,
begin suit, or appear in and defend suit, or do anything
else in its judgment proper to be done by it as such Trustee,
without indemnity, and in such case the Company shall reimburse
~ the Trustee for all costs.and expenses, outlays and counsel
fees and other reasonable disbursements properly incurred
in connection therewith. If the Company shall fail to make
such reimbursement, the Trustee may reimburse itself from
any moneys in its possession under the provisions of this
Agreement and notwithstanding any provision in this Agreement
to the contrary the Trustee shall be entitled to a preference
therefor over any of the Bonds or coupons then outstanding.
Section 9.06. NOTICE OF DEFAULTS. The Trustee shall
not be required to take notice or be deemed to have notice
of any default hereunder, except (but only as to parties
other than the Company)default in the deposits or payments
specified herein, or failure by the Company to file with
it any of the documents required, or ta deposit with it evidence
of the insurance policies required hereunder, unless the
Trustee shall be specifically notified in writing of such
default by the Company, the Issuer or by the holders of at
least twenty-five per centum (25$) in aggregate principal
amount of Bonds outstanding hereunder, and all notices or
other instruments required by this Agreement to be delivered
to the Trustee must, in order to be effective, be delivered
at the principal office of the Trustee, and in the absence
of such notice so delivered, the Trustee may concZusively
assume that there is no ~efault, except as aforesaid.
Section 9.07. INTERVENTION ON BEHALF OF BONDHOLDERS.
In any judicial proceeding to ~~hich the Company is a party
' and which, in the opinion of the Trustee and its counsel,
has a substantial bearing on the interests of owners of Bonds,
; the Trustee may intervene on behalf of bondholders and shall
do so if requested-in writing by the owners of at least twenty-
~ five per centum (25$) of the aggregate principal amount of
Bonds outstanding hereunder. The rights and obligations
o~ the Trustee under this Section are subject to the approval
' of the court having jurisdiction in the premises.
Section 9.08. ?2ELEASE OF PROPERTY FROM LIEN OF THIS
INSTRUMENT. The resolutions, opinions, certificates and
other instruments provided for in this Agreement may be accepted
by the Trustee as conclusive evidence of the facts and conclusions
stated therein and shall be full protection and authority
to the Trustee for the release of property and the withdrawal
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