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PCG » Topics » SECTION 9.06. Trustee May Enforce Claims Without Possession of Bonds

This excerpt taken from the PCG 10-Q filed May 4, 2005.
SECTION 9.06.     Trustee May Enforce Claims Without Possession of Bonds.

          All rights of action and claims under this Indenture or on the Bonds may be prosecuted and enforced by the Trustee without the possession of any of the Bonds or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders in respect of which such judgment has been recovered.

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