HomeMy WebLinkAbout0095 or willful default of the Trustee). The Company hereby covenants
and agrees to pay all advances, counsel fees and other expenses
reasonably made or incurred by the Trustee in and about the ~
execution of the trust hereby created and to reimburse the
Trustee therefor if such expenses are paid by it. The Company
agrees to pay the Trustee reasonable compensation for its
services in the premises. The compensation of the Trustee
shall not be limited to or by any provision of law in regard
to the compensation of trustees of an express trust. The +
Company also agrees to i~demnify the Trustee for, and to
hold the Trustee harmless against, any loss, liability or
expense incurred by the Trustee arising out of or in connection
with the acceptance and administration of this trust, including
reasonable cost and expenses of defending against claiias
of liability in the premises. The obligations of the Company
urider this Agreement to reimburse, compensate and indemnify
the Trustee shall be secured by the Mortgage and any security
agreements created pursuant hereto and shall be paid even
though the Trustee shall resign, be removed or become incapab~le
of serving as provided hereinafter.
Section 9.13. TRUSTEE MAY ACQUIRE BONDS. The Trustee
and its officers and directors may acquire and hold, or become
the pledgee of, any of the Bonds and coupons and otherwise
deal with the Co~pany in the same manner and to the same
extent and with like effect as though it were not Trustee
hereunder.
Section 9.14. SUCCESSOR TRUSTEE. Any corporation
or association into which the Trustee may be converted or
mergea, or with which it may be consolidated, or to which
it may sell or transfer its trust.business and assets as
a whole or substantially as a whole, or any corporation or
association resulting from any such conversion, sale, merger,
. consolidation or transfer to which it is a party, ipso facto,
shall be and become successor trustee hereunder and vested `
with all of the title to the trust estate and all the trusts,
powers, discretions, immunities, privileges, responsibilities,
Ziabilities and all other matters as was its predecessor,
without the execution or filing of any~instrument or any
further act, deed or conveyance on the part of any of the
parties hereto, anything hereto to the contrary notwithstanding.
Section 9.15. RESIGNATION OR ~EMOVAL OF TRUSTEE.
. The Trustee may resign and be discharged from the trusts
created by this Agreement by giving to the Company and the
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Issuer thirty (30) days notice in writing of such resignation,
and by giving to the bondholders notice of such resignation
.
~ by publication at least once a week for two successive weeks
~ in a financial journal published in the City of New York, `
New York. The notice to the Company, to the Issuer and to '
the bonc~holders shall specify a date when such resignation
' shall take effect. Such resignation shall take effect on ;
' the day specified in such notice unl.ess previously a successor
trustee sha12 have been appointed by the bondholders as hereinafter
provided, in which event such resignation shall take effect
immediately on the appointment of such successor trustee.
Any Trustee hereunder may be removed at any tir.?e by
an instrument or instruments in writing, appointing a successor
to the Trustee so removed, filed with the Trustee and executed
by the holders of a majority in principal amount of the Bonds
then outstanding.
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