Common use of Authorization of Actions to Be Taken Clause in Contracts

Authorization of Actions to Be Taken. by the Trustee under the Security Agreement. Subject to the provisions of Section 7.01 and 7.02 hereof, the Trustee may, in its sole discretion and without the consent of the Holders of Notes, direct, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Agreement and (b) collect and receive any and all amounts payable in respect of the Obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of the Notes, the Trustee or the Collateral Agent).

Appears in 2 contracts

Samples: Indenture (Avatex Funding Inc), Indenture (Avatex Corp)

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Authorization of Actions to Be Taken. by By the Trustee under Under the Security Pledge Agreement. Subject to the provisions of Section 7.01 and 7.02 hereof, the The Trustee may, in its sole discretion and without the consent Consent of the Holders of NotesHolders, directbut subject to Article Six hereof, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of or effect the terms of the Security Agreement Pledge Agreement, and (b) collect and receive any and all amounts payable in respect of the Obligations obligations of the Company hereunder, in each case in accordance with and to the extent provided in the Pledge Agreement. The Subject to the provisions of the Pledge Agreement, the Trustee shall have the power to, or direct the Collateral Agent to, to institute and to maintain such suits and proceedings as it may deem expedient to prevent any impairment of its interest in the Pledged Collateral assets comprising the Security Pool by any acts that which may be unlawful or in violation of the Security Pledge Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests interest and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Pledge and Security Agreement (Hallwood Group Inc)

Authorization of Actions to Be Taken. by the Trustee under Under the ------------------------------------------------------------- Security AgreementDocuments. ------------------- Subject to the provisions of Section 7.01 the Intercreditor Agreements and 7.02 hereofthe other Security Documents, (a) the Trustee may, in its sole discretion and without the consent of the Holders of NotesNoteholders, directtake, on behalf of the Holders of Notes, or direct the Collateral Agent to take take, all actions it deems necessary or appropriate in order to (ai) enforce any of the terms of the Security Agreement Documents and (bii) collect and receive any and all amounts payable in respect of the Obligations obligations of the Company hereunder. The hereunder and (b) the Trustee or the Collateral Agent, as applicable, shall have the power to, or direct the Collateral Agent to, to institute and to maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts act that may be unlawful or in violation of the Security Agreement Documents or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes Noteholders in the Pledged Collateral (including including, without limitation, the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder thereunder or be prejudicial to the interests of the Holders of the NotesNoteholders, the Trustee or the Collateral Agent).

Appears in 1 contract

Samples: Indenture (Sheffield Steel Corp)

Authorization of Actions to Be Taken. by the Trustee under and the Collateral Agent Under the Security Agreement. Subject to the provisions of Section 7.01 and 7.02 hereof, the Trustee mayshall, in its sole discretion and without the consent of the Holders of Notes, direct, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Agreement and (b) collect collect, receive and receive distribute any and all amounts payable in respect of the Obligations of the Company hereunderhereunder or under the Security Agreement. The Trustee shall have the power to, or direct and the Collateral Agent to, shall have power to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of the Notes, Notes or of the Trustee or the Collateral Agent).

Appears in 1 contract

Samples: Security Agreement (Air Packaging Technologies Inc)

Authorization of Actions to Be Taken. by the Trustee under Under the Security Escrow Agreement. Subject to the provisions of Section 7.01 and 7.02 hereofSection 7.02, the Trustee may, in its sole discretion and without the consent of the Holders of Notes, directSecurities, on behalf of the Holders of NotesSecurities, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Escrow Agreement and (b) collect and receive any and all amounts payable in respect of the Obligations obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Escrow Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes Securities in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Securities or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Tci Satellite Entertainment Inc

Authorization of Actions to Be Taken. by the Trustee under Under --------------------------------------------------------- the Security Collateral Agreement. Subject to the provisions of Section 7.01 Sections 7.1 and 7.02 hereof7.2, ------------------------ the Trustee may, in its sole discretion and without upon the consent written direction of the Holders of Notes, direct, majority in principal amount of the Notes then outstanding may in the name and on behalf of the Holders of such Notes, the Collateral Agent to take all actions it deems necessary or appropriate as so directed in order to (a) enforce any of the terms of the Security Collateral Agreement and (b) collect and receive any and all amounts payable in respect of the Obligations obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient directed to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Collateral Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of the Notes in the Pledged Collateral with respect to such Notes (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of such Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Cybernet Internet Services International Inc

Authorization of Actions to Be Taken. by the Trustee under Under the Security AgreementCollateral Documents. Subject to the provisions of Section 7.01 7.1 and 7.02 7.2 hereof, the Trustee may, in its sole discretion and without the consent of the Holders of Senior Notes, direct, on behalf of the Holders of Senior Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Agreement Collateral Documents and (b) collect and receive any and all amounts payable in respect of the Obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Agreement Collateral Documents or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Senior Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Senior Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Indenture (Raintree Healthcare Corp)

Authorization of Actions to Be Taken. by the Trustee under Under the Security Escrow Agreement. Subject to the provisions of Section 7.01 6.01 and 7.02 hereofSection 6.03, the Trustee may, in its sole discretion and without the consent of the Holders of Notes, direct, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Escrow Agreement and (b) collect and receive any and all amounts payable in respect of the Obligations obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Escrow Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the 126 -118- security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Indenture (Verio Inc)

Authorization of Actions to Be Taken. by the Trustee under the Security Proceeds Pledge and Escrow Agreement. Subject to the provisions of Section 7.01 6.01 and 7.02 6.03 hereof, the Trustee may, in its sole discretion and without the consent of the Holders of Notes, directtake, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Proceeds Pledge and Escrow Agreement and (b) collect and receive any and all amounts payable in respect of the Obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Proceeds Pledge and Escrow Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Indenture (Iat Multimedia Inc)

Authorization of Actions to Be Taken. by the Trustee under Under the Security AgreementAgreements. Subject to the provisions of Section 7.01 and 7.02 hereof, the Trustee may, in its sole discretion and without the consent of the Holders of Notes, direct, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Agreement Agreements and (b) collect and receive any and all amounts payable in respect of the Obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Agreement Agreements or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Indenture (Sterling Chemical Inc)

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Authorization of Actions to Be Taken. by the Trustee under the Security AgreementBY THE TRUSTEE UNDER THE SECURITY AND PLEDGE AGREEMENT. Subject to the provisions of Section 7.01 and 7.02 hereof, the Trustee may, in its sole discretion and without the consent of the Holders of NotesDebentures, direct, on behalf of the Holders of NotesDebentures, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security and Pledge Agreement and (b) collect and receive any and all amounts payable in respect of the Obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security and Pledge Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes Debentures in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or under the Security and Pledge Agreement or be prejudicial to the interests of the Holders of Debentures or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Security and Pledge Agreement (Finlay Enterprises Inc /De)

Authorization of Actions to Be Taken. by the Trustee under Under the Security AgreementCollateral Documents. Subject to the provisions of Section 7.01 7.01, 7.02 and 7.02 7.13 hereof, the Trustee may, in its sole discretion and without the consent of the Holders of Notes, direct, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Agreement Collateral Documents and (b) collect and receive any and all amounts payable in respect of the Obligations of the Company Issuers hereunder, including but not limited to the appointment and approval of collateral agents and the appointment and approval of an insurance trustee. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Agreement Collateral Documents or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: HCS Ii Inc

Authorization of Actions to Be Taken. by the Trustee under Under the Security Collateral Agreement. Subject to the provisions of Section 7.01 and 7.02 hereof, the Trustee may, in its sole discretion and without the consent of the Holders of Senior Notes, direct, on behalf of the Holders of Senior Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Agreement Collateral Agreements and (b) collect and receive any and all amounts payable in respect of the Obligations of the Company Publishing hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Agreement Collateral Agreements or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Senior Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Senior Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Golden Books Family Entertainment Inc

Authorization of Actions to Be Taken. by the Trustee under --------------------------------------------------- Under the Security Pledge Agreement. Subject to the provisions of Section 7.01 and 7.02 hereof6.02, the -------------------------- Trustee may, in its sole discretion and without the consent of the Holders of Notes, directHolders, on behalf of the Holders of NotesHolders, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Agreement and Pledge Agreement, (b) collect and receive any and all amounts payable in respect of the Obligations obligations of the Company hereunderhereunder and (c) enter into a Pledge Agreement in ac- cordance with Section 4.21 hereof. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Pledge Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: Comple Tel Europe Nv

Authorization of Actions to Be Taken. by the Trustee under Under the Security Escrow Agreement. Subject to the provisions of Section 7.01 6.01 and 7.02 hereofSection 6.03, the Trustee may, in its sole discretion and without the consent of the Holders of Notes, direct, on behalf of the Holders of Notes, the Collateral Agent to take all actions it deems necessary or appropriate in order to (a) enforce any of the terms of the Security Escrow Agreement and (b) collect and receive any and all amounts payable in respect of the Obligations obligations of the Company hereunder. The Trustee shall have the power to, or direct the Collateral Agent to, to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Pledged Collateral by any acts that may be unlawful or in violation of the Security Escrow Agreement or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Pledged Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Notes, the Trustee or the Collateral AgentTrustee).

Appears in 1 contract

Samples: RCN Corp /De/

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