Common use of Determinations Relating to Collateral Clause in Contracts

Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from the Company under the Pledge Agreement for consent or approval with respect to any matter or thing relating to any Collateral or the Company's obligations with respect thereto (including, without limitation, the determination as to whether any portion of the Collateral constitutes released Collateral) or (ii) there shall be due to or from the Trustee under the provisions of the Pledge Agreement any performance or the delivery of any instrument or (iii) the Trustee shall become aware of any nonperformance by the Company of any covenant or any breach of any representation or warranty of the Company set forth in the Pledge Agreement, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond to such request or render any requested performance or response to such nonperformance or breach. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by a majority of Holders pursuant to Section 6.05.

Appears in 1 contract

Samples: Renco Steel Holdings Inc

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Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from the Company Issuer under the Pledge Agreement Security Documents for consent or approval with respect to any matter or thing relating to any Collateral or the CompanyIssuer's obligations with respect thereto (including, without limitation, the determination as to whether any portion of the Collateral constitutes released Collateral) or (ii) there shall be due to or from the Trustee under the provisions of the Pledge Agreement Security Documents any performance or the delivery de- livery of any instrument or (iii) the Trustee shall become aware of any nonperformance by the Company Issuer of any covenant or any breach of any representation or warranty of the Company Issuer set forth in the Pledge AgreementSecurity Documents, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond to such request or render any requested performance or response to such nonperformance or breach. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by a majority of Holders pursuant to Section 6.056.5.

Appears in 1 contract

Samples: Pledge Agreement (Decora Industries Inc)

Determinations Relating to Collateral. In the event (i) the Trustee or the Collateral Agent shall receive any written request from the Company under the Pledge Agreement any Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Company's obligations with respect thereto (including, without limitation, the determination as to whether any portion of the Collateral constitutes released Collateral) or (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of the Pledge Agreement any Security Document any performance or the delivery of any instrument or (iii) the Trustee or the Collateral Agent shall become aware of any nonperformance by the Company of any covenant or any breach of any representation or warranty of the Company set forth in the Pledge Agreementany Security Document, then, in each such event, the Trustee or the Collateral Agent, as applicable, shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond to such request or render any requested performance or response to such nonperformance or breach. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by a majority of Holders pursuant to Section 6.057.5.

Appears in 1 contract

Samples: Indenture (Keystone Consolidated Industries Inc)

Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from the Company under the Pledge Agreement any Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Company's obligations with respect thereto (including, without limitation, the determination as to whether any portion of the Collateral constitutes released Collateral) or (ii) there shall be due to or from the Trustee under the provisions of the Pledge Agreement any Security Document any performance or the delivery of any instrument or (iii) the Trustee shall become aware of any nonperformance by the Company of any covenant or any breach of any representation or warranty of the Company set forth in the Pledge Agreementany Security Document, then, in each such event, the Trustee shall be entitled entitled, at the expense of the Company and subject to - 153 - 165 Sections 602(d) and (h) hereof, to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond to such request or render any requested performance or response to such nonperformance or breach. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by a majority of the Majority Holders pursuant to Section 6.05505 hereof.

Appears in 1 contract

Samples: 1 (Pci Carolina Inc)

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Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from the Company under the Pledge Agreement any Collateral Document for consent or approval with respect to any matter or thing relating to any Collateral or the Company's obligations with respect thereto (including, without limitation, the determination as to whether any portion of the Collateral constitutes released Released Collateral) or (ii) there shall be due to or from the Trustee under the provisions of the Pledge Agreement any Collateral Document any performance or the delivery of any instrument or (iii) the Trustee shall become aware of any nonperformance by the Company of any covenant or any breach of any representation or warranty of the Company set forth in the Pledge Agreementany Collateral Document, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond to such request or render any requested performance or response to such nonperformance or breach. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney attorney, or in taking any action agreed to by a majority of Holders pursuant to Section 6.05.

Appears in 1 contract

Samples: Indenture (Goodman Conveyor Co)

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