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

Authorization of Actions to Be Taken by the Trustee. Upon reasonable request of the Trustee, but without any affirmative duty on the Trustee to do so, the Issuer and Guarantors shall execute and deliver such further instruments and do such further acts as may be reasonably necessary to carry out more effectively the purposes of this Indenture. Subject to the provisions of Section 7.01 and 7.02 and the terms of the Collateral Documents and the Intercreditor Agreement (including any consent of the Holders required thereunder), the Trustee may, in its sole discretion, direct, on behalf of the Holders of Notes, the Security Agent to take all actions it deems necessary or appropriate in order to: (i) enforce any of the terms of the Collateral Documents or the Intercreditor Agreement; and (ii) collect and receive any and all amounts payable in respect of the Obligations of the Issuer or any Guarantor hereunder. Subject to the provisions hereof, the Collateral Documents, the Intercreditor Agreement and any Additional Intercreditor Agreement, the Trustee and/or the Security Agent will have power to but shall not be required to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that may be unlawful or in violation of the Collateral Documents, the Intercreditor Agreement or this Indenture, and such suits and proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Trustee and/or the Security Agent).

Appears in 6 contracts

Sources: Indenture (Sappi LTD), Indenture (Sappi LTD), Indenture (Sappi LTD)

Authorization of Actions to Be Taken by the Trustee. Upon reasonable request of the Trustee, but without any affirmative duty on the Trustee to do so, the Issuer and Guarantors shall execute and deliver such further instruments and do such further acts as may be reasonably necessary to carry out more effectively the purposes of this Indenture. Subject to the provisions of Section 7.01 and Section 7.02 and the terms of the Collateral Documents Security Documents, the First Lien/Second Lien Intercreditor Agreement and the Pari Passu Second Lien Intercreditor Agreement (including any consent of the Holders required thereunder), the Trustee may, in its sole discretion, direct, on behalf of the Holders of Notes, the Security Collateral Agent to take all actions it deems necessary or appropriate in order to: (ia) enforce any of the terms of the Collateral Documents or Security Documents, the First Lien/Second Lien Intercreditor Agreement and the Pari Passu Second Lien Intercreditor Agreement; and (iib) collect and receive any and all amounts payable in respect of the Obligations of the any Issuer or any Guarantor hereunder. Subject to the provisions hereof, the Collateral Documents, the Intercreditor Agreement Section 7.01 and any Additional Intercreditor Agreement7.02, the Trustee and/or the Security Agent will have power to but shall not be required to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that may be unlawful or in violation of the Collateral Security Documents, the First Lien/Second Lien Intercreditor Agreement, the Pari Passu Second Lien Intercreditor Agreement or this the Indenture, and such suits and proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of the Notes or of the Trustee and/or the Security AgentTrustee).

Appears in 2 contracts

Sources: Indenture (Cloud Peak Energy Inc.), Indenture (Sequatchie Valley Coal Corp)

Authorization of Actions to Be Taken by the Trustee. Upon reasonable request of the Trustee, but without any affirmative duty on the Trustee to do so, the Issuer and Guarantors shall execute and deliver such further instruments and do such further acts as may be reasonably necessary to carry out more effectively the purposes of this Indenture. Subject to the provisions of Section 7.01 and Section 7.02 and the terms of the Collateral Documents Security Documents, the First Lien/Second Lien Intercreditor Agreement and the Pari Passu Second Lien Intercreditor Agreement (including any consent of the Holders required thereunder), the Trustee may, in its sole discretion, direct, on behalf of the Holders of Notes, the Security Collateral Agent to take all actions it deems necessary or appropriate in order to: (ia) enforce any of the terms of the Collateral Documents or Security Documents, the First Lien/Second Lien Intercreditor Agreement and the Pari Passu Second Lien Intercreditor Agreement; and (iib) collect and receive any and all amounts payable in respect of the Obligations of the any Issuer or any Guarantor hereunder. Subject to the provisions hereof, the Collateral Documents, the Intercreditor Agreement and any Additional Intercreditor Agreement, the The Trustee and/or the Security Agent will have power to but shall not be required to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that may be unlawful or in violation of the Collateral Security Documents, the First Lien/Second Lien Intercreditor Agreement, the Pari Passu Second Lien Intercreditor Agreement or this the Indenture, and such suits and proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of the Notes or of the Trustee and/or the Security AgentTrustee).

Appears in 1 contract

Sources: Indenture (Antelope Coal LLC)

Authorization of Actions to Be Taken by the Trustee. Upon reasonable request of Under the Trustee, but without any affirmative duty on the Trustee to do so, the Issuer and Guarantors shall execute and deliver such further instruments and do such further acts as may be reasonably necessary to carry out more effectively the purposes of this IndentureCollateral Documents. Subject to the provisions of Section 7.01 and 7.01, 7.02 and the terms of the Collateral Documents and the Intercreditor Agreement (including any consent of the Holders required thereunder)7.13 hereof, the Trustee may, in its sole discretion, directdiscretion and without the consent of the Holders of Notes, on behalf of the Holders of Notes, the Security Agent to take all actions it deems necessary or appropriate in order to: to (ia) enforce any of the terms of the Collateral Documents Documents, the FF&E Collateral Intercreditor Agreement or the Pari Passu Collateral Intercreditor Agreement; and Agreement and (iib) collect and receive any and all amounts payable in respect of the Obligations of the Issuer or any Guarantor Issuers hereunder. Subject , including but not limited to the provisions hereof, appointment and approval of collateral agents and the Collateral Documents, the Intercreditor Agreement appointment and any Additional Intercreditor Agreement, the approval of an insurance trustee. The Trustee and/or the Security Agent will shall have power to but shall not be required to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that may be unlawful or in violation of the Collateral Documents, the FF&E Collateral Intercreditor Agreement, the Pari Passu Collateral Intercreditor Agreement or this Indenture, and such suits and proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Trustee and/or the Security AgentTrustee).

Appears in 1 contract

Sources: Indenture (Shreveport Capital Corp)

Authorization of Actions to Be Taken by the Trustee. Upon reasonable request of the Trustee, but without any affirmative duty on the Trustee to do so, the Issuer and Guarantors shall execute and deliver such further instruments and do such further acts as may be reasonably necessary to carry out more effectively the purposes of this Indenture. (a) Subject to the provisions of Section 7.01 Sections 7.1 and 7.02 and 7.2 hereof, the terms of Trustee upon the Collateral Documents and the Intercreditor Agreement (including any consent written direction of the Holders required thereunder), of majority in principal amount of the Trustee Notes then outstanding may, in its sole discretion, direct, on behalf of the Holders of such Notes, the Security Agent to take all actions it deems necessary or appropriate as so directed in order to: to (i) enforce any of the terms of the Collateral Security Documents or the Intercreditor Agreement; and and (ii) collect and receive any and all amounts payable in respect of the Obligations obligations of the Issuer or any Guarantor Company hereunder. Subject to the provisions hereof, the Collateral Documents, the Intercreditor Agreement and any Additional Intercreditor Agreement, the The Trustee and/or the Security Agent will shall have power to but shall not be required to institute and to maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that which may be unlawful or in violation of the Collateral Documents, the Intercreditor Agreement Security Documents or this Indenture, and such suits and proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule rule, or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or under the Security Documents or be prejudicial to the interests interest of the Trustee). (b) The Trustee shall have the power and is hereby authorized to enter into the Security Documents for itself and on behalf of the Holders of Notes or and to make certain agreements, covenants and representations on behalf of the Holders. (c) All enforcement rights of the Holders under this Indenture which may be exercised by the Trustee and/or on behalf of the Security Agent)Holders shall from and after the time of issuance of the Notes be held by the Trustee on behalf of the Holders as express INTER VIVOS trust for the benefit of the Holders from time to time.

Appears in 1 contract

Sources: Indenture (Preem Holdings Ab Publ)