Action by the Trustee. When more than one individual and/or entity serves as Trustee, action by the trustees shall be determined by the majority of the trustees. Such action shall be binding upon all parties at interest. The individuals and/or entities who collectively act as Trustee may act by vote at a meeting or by writing without a meeting. Any act of more than one individual or entity serving as Trustee shall be sufficiently evidenced if certified to by one of the individuals or entities serving as Trustee, and, if there is more than one individual and/or entity serving as Trustee, one of the trustees may be given authority to perform all administrative and ministerial duties. Any individual who serves as Trustee hereunder may be an employee of the Company.
Action by the Trustee. The Trustee may delegate ministerial acts, specifically including, but not limited to, the signing of checks, endorsement of stock certificates, production of statements and accountings provided for hereunder, execution of transfer instruments and any other document, and the signing of tax returns and governmental reports to be done by any agent of the Trustee.
Action by the Trustee. The Trustee shall not be bound to take any action in connection with this Trust Deed or any obligations arising pursuant thereto, including, without prejudice to the generality of the foregoing, forming any opinion or employing any financial adviser, where it is not reasonably satisfied that it will be indemnified and/or secured and/or pre-funded against all Liabilities which may be incurred in connection with such action and may demand prior to taking any such action that there be paid to it in advance such sums as it reasonably considers (without prejudice to any further demand) shall be sufficient so to indemnify it.
Action by the Trustee. In addition to Section 7.3 and subject to the provisions of the Collateral Documents, the Trustee, acting at the written direction of the American Ref-Fuel Company LLC Indenture Holders of Notes secured by the Collateral, shall have power to institute and maintain such suits and proceedings as the Trustee reasonably may deem expedient to prevent any impairment of the Collateral by any acts which are in violation of the terms of the Collateral Documents, and such suits and proceedings as the Trustee reasonably may deem expedient to preserve or protect its interests and the interests of the Holders in the Collateral; provided, that nothing contained in this Section 14.3 shall be deemed to be a waiver of any right which the Company would otherwise have with respect to the defense of any such suit or proceeding.
Action by the Trustee. If the Trustee receives a Notice of Default specifying an Event of Default from the Company or either Lender, then the Trustee shall take such action or shall refrain from taking such action with respect to such Event of Default as the Trustee shall be directed in writing by such Lender. Such actions may include proceeding to protect and enforce the rights vested in the Trustee by the Loan Documents (including, without limitation, bringing appropriate judicial proceedings or taking any of the actions as shall be provided for in the Loan Documents). Without limiting the foregoing, if the Trustee receives a Notice of Default specifying an Event of Default from the Company or either Lender, the Trustee shall accumulate all monies then held by the Trustee and, unless the Lenders shall otherwise direct in writing, shall not pay to the Company or any other Person other than the Lenders any amounts of monies held by the Trustee pursuant to this Agreement; provided, however, that the Trustee (i) shall continue to make regularly scheduled payments of Debt Service, and (ii) unless otherwise directed in writing by the Lenders, shall make the payments described in priority First set forth in Section 4.2 hereof.
Action by the Trustee
