Action on Secured Notes Sample Clauses
The "Action on Secured Notes" clause defines the procedures and authority for taking actions related to secured notes under an agreement. Typically, this clause outlines who has the right to enforce, amend, or waive provisions concerning the secured notes, such as the trustee or a majority of noteholders, and may specify the process for initiating legal proceedings or other enforcement actions. Its core practical function is to ensure coordinated and efficient management of the secured notes, preventing conflicting actions by individual holders and providing clarity on how collective decisions are made regarding the notes.
Action on Secured Notes. The Indenture Trustee's right to seek and recover judgment under this Indenture shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither the lien of this Indenture nor any rights or remedies of the Indenture Trustee, the Note Purchaser or the Holders of Secured Notes shall be impaired by the recovery of any judgment by the Indenture Trustee against the Trust or by the levy of any execution under such judgment upon any portion of the Trust Estate.
Action on Secured Notes. The COLT Indenture Trustee's right to seek and recover judgment on the COLT 200 - Secured Notes or under this COLT Indenture shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this COLT Indenture. Neither the lien of this COLT Indenture in the COLT 200 - Collateral or the lien of the VAULT Security Agreement in the Pledged Collateral nor any rights or remedies of the COLT Indenture Trustee or the COLT 200 - Secured Noteholders shall be impaired by the recovery of any judgment by the COLT Indenture Trustee against COLT or by the levy of any execution under such judgment upon any portion of the COLT 200 - Trust Estate. Any money or property collected by the COLT Indenture Trustee shall be applied in accordance with Section 5.4(b).