Common use of Proceedings by Trustees Clause in Contracts

Proceedings by Trustees. In case of an Event of Default, the Trustee and the Co-Trustee may, jointly or separately in their discretion, proceed to protect and enforce the rights vested in it or them by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustees by this Indenture or by law.