Action by Special Warrant Agent Sample Clauses
The 'Action by Special Warrant Agent' clause defines the authority and responsibilities of the special warrant agent in executing actions on behalf of the parties involved in a warrant agreement. Typically, this clause outlines the circumstances under which the agent can act, such as processing warrant exercises, handling notifications, or managing administrative tasks related to the warrants. Its core practical function is to ensure that there is a designated party empowered to efficiently manage and execute the procedural aspects of the warrant agreement, thereby providing clarity and streamlining the process for all parties.
Action by Special Warrant Agent. The Special Warrant Agent is not obligated to do any act or thing except where required to do so by this Special Warrant Indenture and, in the case of a default, only when it has actual notice thereof.
Action by Special Warrant Agent. The Special Warrant Agent is not obligated or bound to give any notice or to do or take any act action, proceeding or thing by virtue of the powers conferred on it hereby unless and until it shall have been required to do so by this Indenture and, in the case of a default, only when it has received actual written notice thereof, which notice shall distinctly specify the default desired to be brought to the attention of the Special Warrant Agent and in the absence of any such notice the Special Warrant Agent may for all purposes of this Indenture conclusively assume that no default has been made in the observance or performance of any of the representations, warranties, covenants, agreements or conditions contained herein. Any such notice shall in no way limit any discretion herein given to the Special Warrant Agent to determine whether or not the Special Warrant Agent shall take action with respect to any default.