Trustee to Effectuate Subordination Sample Clauses
The "Trustee to Effectuate Subordination" clause authorizes and obligates the trustee to implement and enforce the subordination of certain debts or claims as specified in the agreement. In practice, this means the trustee will ensure that payments or claims owed to subordinated creditors are only made after the senior creditors have been fully satisfied, and may require the trustee to take specific actions such as withholding distributions or executing necessary documents. This clause is essential for maintaining the agreed priority of payments among creditors, thereby protecting the interests of senior lenders and providing clarity on the order of repayment in the event of default or bankruptcy.
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Trustee to Effectuate Subordination. Each Holder of a Security by his acceptance thereof authorizes and 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 any and all such purposes.
Trustee to Effectuate Subordination. Each Holder, by accepting a Note, authorizes and directs the Trustee on its behalf to execute such documentation and to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Holders and the holders of Senior Debt of Holdings or any Guarantor as provided in this Article 12 and appoints the Trustee as attorney-in-fact for any and all such purposes.
Trustee to Effectuate Subordination. Each Holder by accepting a Subordinated Debt Security authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Holders of Subordinated Debt Securities and the holders of Senior Indebtedness as provided in this Article XII and appoints the Trustee as attorney-in-fact for any and all such purposes.
Trustee to Effectuate Subordination. 95 SECTION 16.7. No Waiver of Subordination Provisions............................95 SECTION 16.8. Notice to Trustee................................................96 SECTION 16.9. Reliance on Judicial Order or Certificate of Liquidating Agent..............................................97 SECTION 16.10. Trustee Not Fiduciary for Holders of Senior Indebtedness...................................................97
Trustee to Effectuate Subordination. 70 Section 12.15. Trustee Not Fiduciary for Holders of Senior Indebtedness...70 Section 12.16. Reliance by Holders of Senior Indebtedness on Subordination Provisions...................................70 ARTICLE XIII GUARANTEE OF DEBT SECURITIES
Trustee to Effectuate Subordination. Each Holder of Securities by such Holder's acceptance thereof authorizes and directs the Trustee on such Holder's behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XII and appoints the Trustee as such Holder's attorney-in-fact for any and all such purposes.
Trustee to Effectuate Subordination. Each holder of Debentures by such holder's acceptance thereof authorizes and directs the Trustee on such holder's behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XVI and appoints the Trustee such holder's attorney-in-fact for any and all such purposes.
Trustee to Effectuate Subordination. Each Holder of Securities by such ▇▇▇▇▇▇’s acceptance thereof authorizes and directs the Trustee on such ▇▇▇▇▇▇’s behalf to take such action as may be necessary or appropriate to effectuate the subordination as between such Holder and holders of Senior Debt as provided in this Article and appoints the Trustee its attorney-in-fact for any and all such purposes.
Trustee to Effectuate Subordination. 48 Section 15.6. Notice by the Company.................................................................48 Section 15.7. Rights of the Trustee; Holders of Senior Indebtedness...............................
Trustee to Effectuate Subordination. 92 SECTION 10.15. Trustee Not Fiduciary for Holders of Senior Indebtedness of the Company...................... 93