Common use of Collateral Trustee May Perform Clause in Contracts

Collateral Trustee May Perform. If any Grantor fails to perform any agreement contained herein, the Collateral Trustee, after such notice to such Grantor, may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such Grantor pursuant to Section 12.3 of the Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Champion Enterprises Inc), Credit Agreement (Champion Enterprises Inc)

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Collateral Trustee May Perform. If any the Grantor fails to perform any agreement contained herein, the Collateral Trustee, after such notice to such Grantoracting for itself and on behalf of the Guaranteed Parties, may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such the Grantor pursuant to under Section 12.3 of the Credit Agreement20.

Appears in 2 contracts

Samples: Collateral Agreement, Cash Collateral Agreement (Ocwen Financial Corp)

Collateral Trustee May Perform. If Subject to the Intercreditor Agreement, if any Grantor fails to perform any agreement contained herein, the Collateral TrusteeTrustee may, after such notice but without any obligation to such Grantordo so and without notice, may itself themselves perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such Grantor pursuant to under Section 12.3 of the Credit Agreement19.

Appears in 2 contracts

Samples: Non Shared Security Agreement (Dynegy Inc /Il/), Shared Security Agreement (Dynegy Inc /Il/)

Collateral Trustee May Perform. If any Grantor fails to perform any agreement contained herein, the Collateral Trustee, after such notice to such Grantor, Trustee may itself perform, or cause performance of, of such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such Grantor pursuant to Section 12.3 7.8 of the Credit AgreementCollateral Trust Agreement and the Collateral Trustee may from time to time take any other action which the Collateral Trustee reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein.

Appears in 1 contract

Samples: Intercreditor Agreement (Energy XXI LTD)

Collateral Trustee May Perform. If any Grantor fails to perform any agreement contained herein, the Collateral TrusteeTrustee may, after such notice but without any obligation to such Grantordo so and without notice, may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such Grantor pursuant to in accordance with Section 12.3 7.8 of the Credit Collateral Trust Agreement.

Appears in 1 contract

Samples: Security Agreement (Sandridge Energy Inc)

Collateral Trustee May Perform. If any the Grantor fails to perform any agreement contained herein, the Collateral Trustee, after such notice to such Grantor, Trustee may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such the Grantor pursuant to Section 12.3 7.8 of the Credit AgreementCollateral Trust Agreement and the Collateral Trustee may from time to time take any other action which the Collateral Trustee reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein.

Appears in 1 contract

Samples: Security Agreement (Energy XXI LTD)

Collateral Trustee May Perform. If any Grantor one or more of the Grantors fails to perform any agreement contained herein, the Collateral Trustee, after such notice to such Grantor, Trustee may itself perform, or cause the performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such Grantor pursuant to Section 12.3 of the Credit AgreementGrantor.

Appears in 1 contract

Samples: Security Agreement (Williams Companies Inc)

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Collateral Trustee May Perform. If any Grantor fails to perform any agreement contained hereinherein within the time allowed, the Collateral Trustee, after such notice to such Grantor, Trustee may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such each Grantor pursuant to under Section 12.3 of the Credit Agreement6.8.

Appears in 1 contract

Samples: Pledge and Security Agreement (Tesla Motors Inc)

Collateral Trustee May Perform. If any Grantor fails to perform any agreement contained herein, the Collateral TrusteeTrustee may, after such but without any obligation to do so and without notice and subject to such Grantorthe terms of the Collateral Trust Agreement, may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such Grantor pursuant to Section 12.3 of under the Credit AgreementJunior Lien Documents.

Appears in 1 contract

Samples: Second Lien Security Agreement (Terremark Worldwide Inc.)

Collateral Trustee May Perform. If any Grantor fails to perform any agreement contained herein, the Collateral TrusteeTrustee may, after such notice but without any obligation to such Grantordo so and without notice, may itself perform, or cause performance of, such agreement, and the expenses of the Collateral Trustee incurred in connection therewith shall be payable by such Grantor pursuant to Section 12.3 of under the Credit AgreementParity Lien Documents.

Appears in 1 contract

Samples: Security Agreement (Terremark Worldwide Inc.)

Collateral Trustee May Perform. If any Grantor fails to perform any agreement contained herein, the Collateral Trustee, after such notice to such Grantor, Trustee may itself perform, or cause performance of, such agreement, and the out-of-pocket expenses of the Collateral Trustee and its agents and counsel incurred in connection therewith shall be payable by such Grantor the Grantors pursuant to Section 12.3 of the Credit Agreement7.2.

Appears in 1 contract

Samples: Security Agreement (Satelites Mexicanos Sa De Cv)

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