CONSENT OF SECURITY TRUSTEE Clause Samples

The Consent of Security Trustee clause establishes that certain actions or decisions by the parties require the prior approval of the security trustee. In practice, this means that any amendments to security documents, waivers of rights, or releases of collateral cannot proceed without the explicit consent of the security trustee, who acts on behalf of the secured creditors. This clause ensures that the interests of all secured parties are protected and that no unilateral changes can undermine the collective security arrangements.
CONSENT OF SECURITY TRUSTEE. If a request in writing is made to the Security Trustee by the Second Issuer or any other person to give its consent to any event, matter or thing, then: (a) if the Second Issuer Transaction Document specifies that the Security Trustee is required to give its consent to that event, matter or thing if certain specified conditions are satisfied in relation to that event, matter or thing, then the Security Trustee shall give its consent to that event, matter or thing upon being satisfied acting reasonably that those specified conditions have been satisfied; and (b) in any other case, the Security Trustee may give its consent if to do so would not, in its opinion, be materially prejudicial to the interests of the Second Issuer Secured Creditors.
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CONSENT OF SECURITY TRUSTEE. If a request in writing is made to the Security Trustee by the Third Issuer or any other person to give its consent to any event, matter or thing, then: (a) if the Third Issuer Transaction Document specifies that the Security Trustee is required to give its consent to that event, matter or thing if certain specified conditions are satisfied in relation to that event, matter or thing, then the Security Trustee shall give its consent to that event, matter or thing upon being satisfied acting reasonably that those specified conditions have been satisfied; and (b) in any other case, the Security Trustee may give its consent if to do so would not, in its opinion, be materially prejudicial to the interests of the Third Issuer Secured Creditors.
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CONSENT OF SECURITY TRUSTEE. If a request is made to the Security Trustee by the Issuer or any other person to give its consent or approval to any event, matter or thing, then: (a) if the Transaction Document specifies that the Security Trustee is required to give its consent or approval to that event, matter or thing if certain specified conditions are satisfied in relation to that event, matter or thing, then the Security Trustee shall give its consent or approval to that event, matter or thing upon being satisfied that those specified conditions have been satisfied; and (b) in any other case, the Security Trustee may give its consent or approval to that event, matter or thing only if so directed by (i) the Note Trustee, so long as there are any Notes outstanding or (ii) all of the other Secured Creditors, if there are no Notes outstanding.
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CONSENT OF SECURITY TRUSTEE. Any Power which may be exercised or any determination which may be made hereunder or under any Collateral Security by the Security Trustee or any Receiver may, subject to the terms and conditions of this deed and the Security Trust and Intercreditor Deed, be exercised or made in its absolute and unfettered discretion without any obligation to give reasons. Share mortgage
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CONSENT OF SECURITY TRUSTEE. If a request in writing is made to the Security Trustee to give its consent to any event, matter or thing, then: (a) if any Transaction Document specifies that the Security Trustee is required to give its consent to that event, matter or thing if certain specified conditions are satisfied in relation to that event, matter or thing, then the Security Trustee shall give its consent to that event, matter or thing upon being satisfied acting reasonably that those specified conditions have been satisfied; and (b) in any other case, the Security Trustee may give its consent if to do so would not, in its opinion, be materially prejudicial to the interests of the Funding 2 Secured Creditors.
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CONSENT OF SECURITY TRUSTEE. (a) Whenever the doing of any thing by the Grantor is dependent on the consent of the Security Trustee, the Security Trustee may withhold its consent or give it conditionally or unconditionally in its absolute discretion unless expressly stated otherwise in a Transaction Document.
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CONSENT OF SECURITY TRUSTEE. Unless the Funding GIC Provider has received the prior written consent of the Security Trustee, the Funding GIC Provider is authorised only to permit (so far as the same is within its control) withdrawals from the Funding (Current Issuer) GIC Account for the purposes of making a transfer to the Funding Transaction Account and unless Funding or the Cash Manager has received the prior written consent of the Security Trustee neither Funding nor the Cash Manager will request any withdrawal or transfer for any other purpose.
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CONSENT OF SECURITY TRUSTEE. If a request is made to the Security Trustee to give its consent to any event, matter or thing, then: (a) if any Transaction Document specifies that the Security Trustee is required to give its consent to that event, matter or thing if certain specified conditions are satisfied in relation to that event, matter or thing, then the Security Trustee shall give its consent to that event, matter or thing upon being satisfied acting reasonably that those specified conditions have been satisfied; and (b) in any other case, the Security Trustee may give its consent to that event, matter or thing if the event, matter or thing is not, in its opinion acting reasonably, materially prejudicial to the interests of the Funding Secured Creditors.
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Related to CONSENT OF SECURITY TRUSTEE

  • Enforcement of Security On and at any time after the occurrence of an Event of Default the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 25.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.

  • Without Consent of Securityholders Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any one or more of or all the following purposes: (a) to cure any ambiguity, omission, defect or inconsistency contained herein or in any supplemental indenture; provided, however, that such amendment does not materially and adversely affect the rights of Holders; (b) to evidence the succession of another corporation to the Company, or successive successions, and the assumption by such successor of the covenants and obligations of the Company contained in the Securities of one or more series and in this Indenture or any supplemental indenture; (c) to comply with the rules of any applicable Depositary; (d) to secure any series of Securities; (e) to add to the covenants and agreements of the Company, to be observed thereafter and during the period, if any, in such supplemental indenture or indentures expressed, and to add Events of Default, in each case for the protection or benefit of the Holders of all or any series of the Securities (and if such covenants, agreements and Events of Default are to be for the benefit of fewer than all series of Securities, stating that such covenants, agreements and Events of Default are expressly being included for the benefit of such series as shall be identified therein), or to surrender any right or power herein conferred upon the Company; (f) to make any change in any series of Securities that does not adversely affect the legal rights under this Indenture of any Holder of such Securities in any material respect; (g) to evidence and provide for the acceptance of an appointment under this Indenture of a successor Trustee; provided that the successor Trustee is otherwise qualified and eligible to act as such under the terms hereof; (h) to conform the text of this Indenture or any series of the Securities to any provision of the section entitled “Description of Debt Securities” in the Prospectus to the extent that such provision in the Prospectus was intended to be a verbatim recitation of a provision of this Indenture or such series of the Securities as evidenced by an Officers’ Certificate; (i) to make any amendment to the provisions of this Indenture relating to the transfer and legending of Securities as permitted by this Indenture, including, but not limited to, facilitating the issuance and administration of any series of the Securities or, if incurred in compliance with this Indenture, additional Securities; provided, however, that (i) compliance with this Indenture as so amended would not result in any series of the Securities being transferred in violation of the U.S. Securities Act of 1933, as amended, or any applicable securities law and (ii) such amendment does not materially and adversely affect the rights of Holders to transfer Securities; (j) to change or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall become effective only when there is no Outstanding Security of any series created prior to the execution of such supplemental indenture that is entitled to the benefit of such provision and as to which such supplemental indenture would apply; (k) to make any amendment to this Indenture necessary to qualify this Indenture under the Trust Indenture Act; (l) to add guarantors or co-obligors with respect to any series of Securities; and (m) to establish the form and terms of Securities of any series as permitted in Section 3.01, or to provide for the issuance of additional Securities in accordance with the limitations set forth in this Indenture, or to add to the conditions, limitations or restrictions on the authorized amount, terms or purposes of issue, authentication or delivery of the Securities of any series, as herein set forth, or other conditions, limitations or restrictions thereafter to be observed. Subject to the provisions of Section 14.03, the Trustee is authorized to join with the Company in the execution of any such supplemental indenture, to make the further agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property or assets thereunder. Any supplemental indenture authorized by the provisions of this Section 14.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 14.02.

  • Assignment of Security Interest If at any time any Grantor shall take a security interest in any property of an Account Debtor or any other person to secure payment and performance of an Account, such Grantor shall promptly assign such security interest to the Collateral Agent. Such assignment need not be filed of public record unless necessary to continue the perfected status of the security interest against creditors of and transferees from the Account Debtor or other person granting the security interest.

  • Acknowledgment of Security Interests Each Loan Party hereby acknowledges that, as of the date hereof, the security interests and Liens granted to Agent and the Lenders under the Credit Agreement and the other Loan Documents are in full force and effect and are enforceable in accordance with the terms of the Credit Agreement and the other Loan Documents.

  • Consent of Securities Regulators to Amendment Except for amendments made under Part 3, the securities regulators with jurisdiction must approve any amendment to this Agreement and will apply mutual reliance principles in reviewing any amendments that are filed with them. Therefore, the consent of the Principal Regulator will evidence the consent of all securities regulators with jurisdiction.