Instructing Creditor Sample Clauses
The 'Instructing Creditor' clause defines the party among multiple creditors who is authorized to give instructions or directions to an agent or trustee on behalf of all creditors involved. Typically, this clause specifies the process for designating the instructing creditor, such as by majority agreement or based on the size of outstanding claims, and outlines the scope of instructions they can provide, such as enforcement actions or waivers. Its core practical function is to streamline decision-making and communication, ensuring that the agent or trustee receives clear, unified instructions, thereby avoiding conflicting directions and facilitating efficient administration of creditor rights.
Instructing Creditor. For the purposes of these Securities only, the Instructing Creditor shall be the Counterparty.
Instructing Creditor. For the purposes of these Securities only, the Instructing Creditor shall be the Counterparty.
18. Counterparty Account details: Account No: 14923 held with Banco Bilbao Vizcaya Argentaria, S.A.
19. Additional Charging Document: Not applicable.
20. Closing Date and Time: Close of business on 11 July 2017.
21. Pre Closing Date and Time: Not applicable.
Instructing Creditor. For the purposes of these Securities only, the Instructing Creditor shall be the Counterparty.
18. Counterparty Account details: Account No: 14923 held with Banco Bilbao Vizcaya Argentaria, S.A.
19. Additional Charging Document: Not applicable.
Instructing Creditor. The Applicable Supplement and Supplemental Trust Deed will specify in relation to that Series of Notes whether the Instructing Creditor is:
(1) the Counterparty only; or
(2) the Noteholders only. Where the Instructing Creditor is the Noteholders, the Noteholders can (where specified) request the Trustee to take actions contemplated in the Conditions by means of a request in writing of the holders of at least one fifth in principal amount of the Notes of such Series then outstanding or by means of an Extraordinary Resolution of such Noteholders. Where the Instructing Creditor is the Counterparty, the Counterparty may (where specified) request the Trustee to take actions contemplated in the Conditions by means of a written request. The security in relation to any Series of Notes will become enforceable upon the Trustee giving an Enforcement Notice (as defined in Condition 10) to the Issuer of that Series subsequent to the occurrence of an Event of Default or as otherwise provided in the Trust Deed. The Trustee shall not be bound to give any Enforcement Notice in respect of any Series of Notes, to take any steps or institute any proceedings to enforce the security for any Series or to enforce payment of any amount due and payable under or pursuant to the Notes of any Series or the Related Agreement unless it shall have been so requested by the Instructing Creditor in relation to such Series and has been secured and/or indemnified to its satisfaction. The Trustee will, where the interests of the Instructing Creditor (as evidenced by the Instructing Creditor's instructions) conflict with those of the other Secured Creditors (as defined in Condition 4(b)), prefer the interests of such Instructing Creditor over the interests of the other Secured Creditors (and shall not take into account the interests of such other Secured Creditors).