Common use of Instructions to a Security SPV Clause in Contracts

Instructions to a Security SPV. 7.1.1 Each of the Parties agree that, without prejudice to the rights and obligations of the Plateau Security SPV or the Opco Security SPV under the Finance Documents and unless not legally possible, the Security Agent shall have the sole and exclusive right to make claims against the Plateau Security SPV and the Opco Security SPV under the Plateau Security SPV Debt Guarantee and the Opco Security SPV Debt Guarantee, respectively, on behalf of the relevant Secured Parties, to instruct the Plateau Security SPV and/or the Opco Security SPV (as the case may be) to exercise any or all of the remedies or any of its rights, powers, authorities or discretions granted in the Finance Documents, and/or to commence, pursue, conclude or settle any legal proceedings against the Borrower, any other Obligor or any other security provider in any applicable jurisdiction on behalf of the Secured Parties or any of them in connection with the Finance Documents. 7.1.2 Each Security SPV shall comply with the instructions of the Security Agent as referred to in clause 7.1.1 above as to the enforcement by it of any or all of the Transaction Security or of any other remedies or the exercise by it of any of its rights, powers, authorities or discretions or the performance of any of its duties, obligations and responsibilities under any of the Finance Documents. 7.1.3 Each Security SPV shall refrain from enforcing the Transaction Security unless otherwise directed to do so by the Security Agent. 7.1.4 The Security Agent in instructing the Plateau Security SPV or the Opco Security SPV (as applicable) pursuant to clause 7.1.1 and 7.1.2 above shall act on the instructions of the relevant Parties as referred to in clause 3.3 (

Instructions to a Security SPV. 7.1.1 (a) Each of the Parties agree that, without prejudice to the rights and obligations of the Plateau Security SPV or the Opco Security SPV under the Finance Documents and unless not legally possible, the Security Agent shall have the sole and exclusive right to make claims against the Plateau Security SPV and or the Opco Security SPV under the Plateau Security SPV Debt Guarantee Guarantees and the Opco Security SPV Debt Guarantee, respectively, Guarantees on behalf of the relevant Secured Parties, to instruct the Plateau Security SPV and/or or the Opco Security SPV (as the case may be) to exercise any or all of the remedies or any of its rights, powers, authorities or discretions granted in the Finance Documents, and/or or to commence, pursue, conclude or settle any legal proceedings against the Borrower, any other Obligor or any other security provider in any applicable jurisdiction on behalf of the Secured Parties or any of them in connection with the Finance Documents. 7.1.2 (b) Each Security SPV shall comply with the instructions of the Security Agent as referred to in clause 7.1.1 paragraph (a) above as to the enforcement by it of any or all of the Transaction Security or of any other remedies or the exercise by it of any of its rights, powers, authorities or discretions or the performance of any of its duties, obligations and responsibilities under any of the Finance Documents. 7.1.3 (c) Each Security SPV shall refrain from enforcing the Transaction Security unless otherwise directed to do so by the Security Agent. 7.1.4 (d) The Security Agent in instructing the Plateau Security SPV or the Opco Security SPV (as applicable) pursuant to clause 7.1.1 paragraph (a) and 7.1.2 (b) above shall act on the instructions of the relevant Parties as referred to in clause 3.3 10.4 (Action on or before the Senior Discharge Date), clause 10.5 (Action after the Senior Discharge Date) and clause 10.6 (Action after the RPM Discharge Date).