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

Authorization of Actions to be Taken by the Trustee or the Shared Security Agent Under the Security Documents. (a) The Shared Security Agent shall be the representative on behalf of the Secured Parties and shall act upon the written direction of the Trustee (acting on the written direction of Holders of at least a majority in aggregate principal amount of the Notes then outstanding) with regard to all voting, consent and other rights granted to the Holders of the Notes under the Security Documents and the Intercreditor Agreement and to carry out certain other duties.

Authorization of Actions to be Taken by the Trustee or the Shared Security Agent Under the Security Documents. (a) The Subject to the Intercreditor Agreement, the Shared Security Agent shall be the representative on behalf of the Secured Parties and shall act upon the written direction of the Trustee (acting on the written direction of Holders of at least a majority in aggregate principal amount of the Notes then outstanding) Secured Parties with regard to all voting, consent and other rights granted to the Holders of the Notes under the Security Documents and the Intercreditor Agreement and to carry out certain other duties.