Common use of Securityholders Authorize Trustee to Effectuate Subordination of Securities Clause in Contracts

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding up, liquidation or reorganization of either of the Issuers (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the Issuers, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities them authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate effectuate, as between the holders of Senior Debt and the Holders of Securities, the subordination provided in this ArticleArticle Ten, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of either of the Issuers Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the IssuersCompany, the filing of a claim for the unpaid balance of its or his Securities and accrued interest in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his its acceptance of such Securities authorizes and expressly directs the Trustee on his its behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Eight, and appoints the Trustee his its attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of either of the Issuers (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the Issuers, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding up, liquidation or reorganization of either of the Issuers Issuer (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the Issuers, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on its or his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle 10, and appoints the Trustee its or his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of either of the Issuers Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the IssuersCompany, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on its or his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Ten, and appoints the Trustee its or his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of either of the Issuers Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the IssuersCompany, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Eight, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, total liquidation or reorganization of either of the Issuers an Issuer (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the Issuers, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.or

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on its or his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Eight, and appoints the Trustee its or his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of either of the Issuers Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the IssuersCompany, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on its or his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Ten, and appoints the Trustee its or his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of either of the Issuers Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business busi- ness and assets of either of the IssuersCompany, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on its or his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Eight, and appoints the Trustee its or his attorney-in-in- fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of either of the Issuers Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the IssuersCompany, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.