NO ACTION EXCEPT AS SPECIFIED Sample Clauses
The "No Action Except as Specified" clause restricts the parties to only taking actions that are expressly permitted within the agreement. In practice, this means that unless the contract specifically authorizes a party to perform a certain act or exercise a right, they are not allowed to do so. For example, a party cannot terminate, modify, or enforce provisions unless the contract explicitly provides for such actions. This clause serves to maintain strict control over the parties' conduct, ensuring that all actions are predictable and governed by the contract, thereby reducing the risk of unauthorized or unilateral decisions.
NO ACTION EXCEPT AS SPECIFIED. Owner Trustee shall have no power, right or authority to, and agrees that it will not, manage, control, use, sell, dispose of or otherwise deal with the Aircraft or any other part of the Trust Estate except (a) as expressly required by the terms of any of the Owner Trustee Agreements, (b) as expressly provided by the terms hereof or (c) as expressly provided in written instructions from Owner Participant pursuant to Section 5.1 or 5.2.