Authorization to Trustee. Each Holder, by accepting a Note, authorizes and directs the Trustee to enter into the Intercreditor Agreement and each of the Security Documents contemplated hereby and to perform all of the obligations of the Trustee thereunder.
Authorization to Trustee. The Trustee is hereby authorized and directed to enter into each of the Security Documents contemplated hereby and to perform all of the obligations of the Trustee thereunder.
Authorization to Trustee. After the Discharge of Credit Agreement Obligations, if, while any Subordinated Debt is outstanding, any Insolvency Event shall occur and be continuing with respect to any other Obligor or its property: (i) Trustee hereby is irrevocably authorized and empowered (in the name of each Obligor or otherwise), but shall have no obligation, to demand, sue for, collect, and receive every payment or distribution in respect of Subordinated Debt and give acquittance therefor and to file claims and proofs of claim and take such other action (including voting any Subordinated Debt) as it may deem necessary or advisable for the exercise or enforcement of any of the rights or interests of Trustee; and (ii) each Obligor shall promptly take such action as Trustee reasonably may request, to the extent permitted under applicable law, (A) to collect the Subordinated Debt for the account of Trustee and to file appropriate claims or proofs of claim in respect of the Subordinated Debt, (B) to execute and deliver to Trustee such powers of attorney, assignments, and other instruments as it may request to enable it to enforce any and all claims with respect to the Subordinated Debt, and (C) to collect and receive any and all Subordinated Debt Payments.
Authorization to Trustee. Each holder of Debentures by his acceptance thereof irrevocably authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to assure the subordination provided for in this Article XI, and appoints the Trustee his agent for any and all such purposes. Without limitation of the foregoing, the Trustee, for and on behalf of the holders from time to time of all the Debentures, is authorized and directed, at the expense of the Corporation, to execute deeds or agreements of subordination from time to time upon receipt of a written request of the Corporation to that effect. Any deed or agreement of subordination executed pursuant to this Section 11.8 shall be conclusive evidence that the indebtedness therein specified is Senior Obligations. The Trustee shall keep on file at its principal office in Toronto, and shall deliver to the Corporation, a copy of each deed or agreement of subordination executed and delivered by it pursuant to this Section 11.8. Nothing contained in this Section 11.8 shall impair the rights of any holders of Senior Obligations in whose favour a deed or agreement or subordination has not been so executed and delivered.