Common use of Actions by Collateral Agent Clause in Contracts

Actions by Collateral Agent. To enforce the provisions of Section 5.05, the Collateral Agent is authorized to request the consent or approval of the FCC or any other Governmental Authority to a voluntary or an involuntary transfer of control of the Grantors or the voluntary or involuntary assignment of any FCC License Rights held by the Grantors. In connection with the exercise of its remedies under this Agreement, the Collateral Agent may obtain the appointment of a trustee or receiver to assume control of the Grantors, subject to any required prior approval of the FCC or any other Governmental Authority. Such trustee or receiver shall have all rights and powers provided to it by law or by court order or provided to the Collateral Agent under this Agreement.