Common use of Authorization of Actions to be Taken by Collateral Agent Under the Security Documents Clause in Contracts

Authorization of Actions to be Taken by Collateral Agent Under the Security Documents. Subject to the provisions of the applicable Security Document and this Agreement, (a) Collateral Agent may, in its sole discretion and without the consent of Secured Parties, take all actions it deems necessary or appropriate in order to (i) enforce any of the terms of the Security Documents and (ii) collect and receive any and all amounts payable in respect of the First Lien Obligations or Second Lien Obligations and (b) Collateral Agent shall have power to institute and to maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any act that may be unlawful or in violation of the Security Documents or the First Lien Documents, and such suits and proceedings as Collateral Agent may deem expedient to preserve or protect its interests and the interests of Secured Parties in the Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest thereunder or be prejudicial to the interests of Secured Parties). Notwithstanding the above, Collateral Agent may choose not to take any action authorized by this Section 6.05 until it receives written direction from Secured Parties.

Authorization of Actions to be Taken by Collateral Agent Under the Security Documents. Subject to the provisions terms of the applicable Security Document and this Intercreditor Agreement, (a) the Trustee, in its capacity as Collateral Agent Agent, may, in its sole discretion and without the consent of Secured Partiesthe Holders, on behalf of the Holders, take all actions it deems necessary or appropriate in order to (ia) enforce any of the terms of the Security Documents and (iib) collect and receive any and all amounts payable in respect of the First Lien Obligations or Second Lien Obligations obligations of the Company and (b) the Guarantors hereunder. The Trustee, in its capacity as Collateral Agent Agent, shall have the power to institute and to maintain such suits and proceedings as it such Person may deem expedient to prevent any impairment of the Collateral by any act acts that may be unlawful or in violation of the Security Documents or the First Lien Documentsof this Indenture, and such suits and proceedings as Collateral Agent the Trustee may deem expedient to preserve or protect its interests and the interests of Secured Parties the Holders in the Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental government enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest thereunder hereunder or be prejudicial to the interests of Secured Partiesthe Holders or of the Trustee). Notwithstanding the above, Collateral Agent may choose not to take any action authorized by this Section 6.05 until it receives written direction from Secured Parties.

Authorization of Actions to be Taken by Collateral Agent Under the Security Documents. Subject to the provisions of the applicable Security Document and this AgreementThe Trustee, (a) in its capacity as Collateral Agent Agent, may, in its sole discretion and without the consent of Secured Partiesthe Holders, on behalf of the Holders, take all actions it deems necessary or appropriate in order to (ia) enforce any of the terms of the Security Documents and (iib) collect and receive any and all amounts payable in respect of the First Lien Obligations or Second Lien Obligations obligations of the Company and (b) the Guarantors hereunder. The Trustee, in its capacity as Collateral Agent Agent, shall have the power to institute and to maintain such suits and proceedings as it such Person may deem expedient to prevent any impairment of the Collateral by any act acts that may be unlawful or in violation of the Security Documents or the First Lien Documentsthis Indenture, and such suits and proceedings as Collateral Agent the Trustee may deem expedient to preserve or protect its interests and the interests of Secured Parties the Holders in the Collateral (including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental government enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest thereunder hereunder or be prejudicial to the interests of Secured Partiesthe Holders or of the Trustee). Notwithstanding the above, Collateral Agent may choose not to take any action authorized by this Section 6.05 until it receives written direction from Secured Parties.