Laserfiche WebLink
<br />31 <br />ARTICLE VIII. <br />THE TRUSTEE <br />Section 8.1. Acceptance of the Trusts. The Trustee hereby accepts the trusts <br />imposed upon it by this Indenture, and agrees to perform said trusts as a corporate trustee ordinarily <br />would perform said trusts under a corporate indenture, but no implied covenants or obligations <br />shall be read into this Indenture against the Trustee. <br />(a) The Trustee may execute any of the trusts or powers hereof and perform any of its <br />duties by or if appointed through attorneys, agents, receivers or employees but shall not be <br />answerable for the conduct of the same in accordance with the standard specified above, and shall <br />be entitled to advice of counsel concerning all matters of trusts hereof and the duties hereunder, <br />and may in all cases pay such reasonable compensation to all such attorneys, agents, receivers and <br />employees as may reasonably be employed in connection with the trusts hereof. The Trustee may <br />act upon the opinion or advice of any attorney (who may be the attorney or attorneys for the Issuer <br />or the Company). The Trustee shall not be responsible for any loss or damage resulting from any <br />action or non-action in good faith in reliance upon such opinion or advice. <br />(b) The Trustee shall not be responsible for any recital herein, or in the Bonds (except <br />in respect to the certificate of the Trustee endorsed on the Bonds), or for insuring the property <br />herein conveyed or collecting any insurance moneys, or for the validity of the execution by the <br />Issuer of this Indenture or of any supplements thereto or instruments of further assurance, or for <br />the sufficiency of the security for the Bonds issued hereunder or intended to be secured hereby, or <br />for the value or title of the property herein conveyed or otherwise as to the maintenance of the <br />security hereof; and the Trustee shall not be bound to ascertain or inquire as to the performance or <br />observance of any covenants, conditions or agreements on the part of the Issuer or on the part of <br />the Company under the Loan Agreement, the Taxpayer Agreement or the Development <br />Agreement; but the Trustee may require of the Issuer or the Company full information and advice <br />as to the performance of the covenants, conditions and agreements aforesaid as to the condition of <br />the property herein conveyed. The Trustee shall have no obligation to perform any of the duties of <br />the Issuer under the Loan Agreement, and the Trustee shall not be responsible or liable for any <br />loss suffered in connection with any investment of funds made by it in accordance with the <br />provisions of this Indenture. <br />(c) The Trustee shall not be accountable for the use of any Bonds authenticated by it <br />or delivered hereunder. The Trustee may become the owner of Bonds secured hereby with the <br />same rights which it would have if not Trustee. <br />(d) The Trustee shall be protected in acting upon any notice, request, consent, <br />certificate, order, affidavit, letter, telegram or other paper or document believed to be genuine and <br />correct and to have been signed or sent by the proper person or persons. Any action taken by the <br />Trustee pursuant to this Indenture upon the request or authority or consent of any person who at <br />the time of making such request or giving such authority or consent is the owner of any Bonds, <br />shall be conclusive and binding upon all future owners of the same Bond and upon Bonds issued <br />in exchange therefor or in place thereof.