Actions by Security Trustee. As to any matter not expressly provided for by this Agreement or the other Collateral Documents, the Security Trustee will act or refrain from acting only as directed by an Act of Required Debtholders and will be fully protected if it does so, and any action taken, suffered or omitted pursuant hereto or thereto shall be binding on the holders of Secured Obligations, each Grantor, guarantor and each other party to the Collateral Documents. Notwithstanding the foregoing, the Security Trustee shall not be required to take any action which is contrary to the provisions hereof, the Secured Debt Documents or applicable law.
Appears in 5 contracts
Samples: Intercreditor and Proceeds Agreement (Atlas Corp.), Intercreditor and Proceeds Agreement (Atlas Corp.), Intercreditor and Proceeds Agreement (Atlas Corp.)
