Agent for Note Holders Clause Samples

Agent for Note Holders. During such time that there is more than one ---------------------- Note and the holders of the Notes include parties other than the Sellers, the --- Note holders shall appoint an administrative and collateral agent to act for the Note holders in connection with the enforcement of rights and the collection of payment under the Notes, and in connection with the enforcement of rights and the collection of information under the Guaranty and the Security Agreement, with such agent to be selected by the Note holders pursuant to the approval of holders of more than 50% of the aggregate then outstanding principal under the Notes, or such higher percentage as may be agreed to by the Note holders. Such agent shall take actions in respect of the Notes and the Security Agreement pursuant to the direction of holders of more than 50% of the aggregate then outstanding principal under the Notes, or such higher percentage as may be agreed to by the Note holders.