Common use of Authorization of Actions to Be Taken by the Trustee Under the Security Documents Clause in Contracts

Authorization of Actions to Be Taken by the Trustee Under the Security Documents. At any time that the security granted pursuant to the Security Documents has become enforceable and the Holders have given a direction to the Trustee to enforce such security, the Trustee is not required to give any direction to the Notes Collateral Agent with respect thereto unless it has been indemnified or secured to its satisfaction in accordance with this Indenture. In any event, in connection with any enforcement of such security, the Trustee is not responsible for: (1) any failure of the Notes Collateral Agent to enforce such security within a reasonable time or at all; (2) any failure of the Notes Collateral Agent to pay over the proceeds of enforcement of the security; (3) any failure of the Notes Collateral Agent to realize such security for the best price obtainable; (4) monitoring the activities of the Notes Collateral Agent in relation to such enforcement; (5) taking any enforcement action itself in relation to such security; (6) agreeing to any proposed course of action by the Notes Collateral Agent which could result in the Trustee incurring any liability for its own account; or (7) paying any fees, costs or expenses of the Notes Collateral Agent.