Bond Trustee

Bond Trustee

An organization, almost always a financial institution, hired by a bond issuer to ensure the terms of the indenture and all applicable laws are being followed. The trustee has a fiduciary responsibility to act on behalf of the issuer, rather than in its own interests.
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The suit accused Bank of New York Mellon of breaching its duties as bond trustee to protect investors.
New York City Economic Development Corporation ( NYCEDC ) on behalf of the Build NYC Resource Corporation ( Build NYC ) and the New York City Industrial Development Agency ( NYCIDA , collectively with Build NYC, the Entities ) is seeking (1) to select one or more trustees to provide bond trustee services to the Entities (the Bond Trustee(s) ) and (2) to select a trustee to provide services related to payments in lieu of New York City real estate taxes ( PILOT ), including administration and collection of PILOT (the PILOT Trustee ).
Bamco ended up defaulting on both bond issues, and the bond trustee First Security Bank--which, like Crews, is owned by First Security Bancorp of Searcy--sued to have a receiver appointed and Bamco's assets distributed to bondholders.
Commerce's Corporate Trust group ranked number six nationally for Bond Trustee appointments by dollar volume for the first nine months of 2006.
McGrigors acted as legal advisor to the issuer and Linklaters acted as legal advisor to FGIC, the joint lead managers, the bond trustee and the security trustee.
The airline has modified the reletting rights available to the Bond Trustee and granted a leasehold mortgage to the Bond Trustee for the benefit of the bondholders.
Andrew has 45 days after a notice from the bond trustee to comply with the requirement or it will be required to redeem all of the outstanding bonds.
Bond indentures also may provide for significant assets to be pledged to the bond trustee, thereby inhibiting the ability of the acquirer to sell those assets.
Global Banking News-8 October 2009-US Bancorp buys bond trustee business(C)2009 ENPublishing - http://www.
A significant portion of the increase in noninterest income resulted from a $113 million gain, net of related expenses, on the sale of the Bond Trustee business.
As bond trustee, State First National had to dip into a $648,000 debt service reserve fund twice to keep payments on the 1987 bond issue current.
The Wood County Treasurer (the county treasurer) entered into a five-year payment plan with the developer/owner for its delinquent special assessments, contrary to the requirement of the Tax Lien Agreement entered into by and among the county treasurer, the City of Perrysburg (the city) and the bond trustee which provided for an accelerated foreclosure on assessed property by the county treasurer upon notice of a default in payment of such special assessments.