Common use of Authorization of Holders of Securities to Trustee to Effect Subordination Clause in Contracts

Authorization of Holders of Securities to Trustee to Effect Subordination. Each Holder of Securities by his acceptance thereof, whether upon original issue or upon transfer or assignment, authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article Seventeen and appoints the Trustee his attorney-in-fact for any and all such purposes.

Authorization of Holders of Securities to Trustee to Effect Subordination. Each Holder of Securities by his acceptance thereof, whether upon original issue or upon transfer or assignment, thereof authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article Seventeen Eleven and appoints the Trustee his attorney-in-fact for any and all such purposes.

Authorization of Holders of Securities to Trustee to Effect Subordination. 84 Each Holder of Securities by his acceptance thereof, whether upon original issue or upon transfer or assignment, authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article Seventeen and appoints the Trustee his attorney-in-fact for any and all such purposes.