Common use of Authorization by Holders of Subordinated Securities Clause in Contracts

Authorization by Holders of Subordinated Securities. Each Holder of a Subordinated Security by his acceptance thereof authorizes the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article and appoints the Trustee his attorney-in-fact for any and all such purposes.

Authorization by Holders of Subordinated Securities. Each Holder of a Subordinated subordinated Security or Coupon appertaining thereto by his acceptance thereof authorizes the Trustee on his behalf to take such -91- 104 action as may be necessary or appropriate to effectuate the subordination provided in this Article and appoints the Trustee his attorney-in-fact for any and all such purposes.