1983-102 - Laserfiche WebLink

Home Browse Search

/\RTICLE X THE TRUST E I:: Section 10,1 Certain Duties and Responsibilities. (a) Except during the continuance of an Event of De fault of \~hich the Trustee has actual written notice, (l) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee: and (2) in the absence of bau faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinio ns expressed therein, upon cer- tificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture: but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be uncler a cluty to examine the same to deter:nine whether or not they conform to the requirements of this Indenture. (b) In case an Event of Default has occurred which is known to the Trustee and is continuing, the Trustee shall P.Xer- cise such of the rights and powers vested in it by this Indenture and use the same degree of care and skill in th~ir exarcise as a pruJ.ent man would exercise or use unrler the circumstances in the conduct of his own affairs. (c) No provision of this Indenture shall be construed to relieve the ·rrustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that (1) this Subsection shall not be construed to limit the effect vf Subsection (a) of this Section; (2) the Trustee sh~ll not be liable for any error or ju<lgment made in good faith by a responsible officer or officers of the 1'r;.1stae unless it shall be !?roved that the 1'rustee was negligent in ascertaining the pertinent facts: (3) the Trustee shall no t be liable with respec t ta any action taken or omitted to be taken by it in goo,l fai t h in accordance with the dir~ction of the holders of a majority in aggreyate principal amount of the Outstanding Donds rel~tinq to -60-