Actions by Authority Clause Samples
The "Actions by Authority" clause defines the rights and procedures by which a designated authority, such as a regulatory body or government agency, may take specific actions under the agreement. This clause typically outlines the scope of the authority's powers, the circumstances under which actions may be taken, and any required notifications or approvals. For example, it may specify how the authority can intervene, request information, or enforce compliance. Its core practical function is to clarify the extent and limits of the authority's involvement, ensuring all parties understand when and how the authority may act, thereby reducing uncertainty and potential disputes.
Actions by Authority. At the request of the Company or the Trustee, the Authority shall take all steps required of it under the applicable provisions of the Indenture or the Bonds to effect the redemption of all or a portion of the Bonds pursuant to this Article.
Actions by Authority. Any action which may be taken by the Authority hereunder shall be deemed sufficiently taken if taken on its behalf by its Chairman, its Vice Chairman or its Executive Director or by any other director, officer or agent whom it may designate from time to time.
Actions by Authority. Subject to Section 4.2 hereof, at the request of the Company or the Trustee, the Authority shall take all steps required of it under the applicable provisions of the Indenture or the Bonds to effect the redemption of all or a portion of the Bonds pursuant to this Article VI. (End of Article VI)