Common use of Collateral Trustee Clause in Contracts

Collateral Trustee. (a) The Collateral Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be entitled to enforce all Liens on the Collateral created by the Security Documents. (b) Except as provided in the Collateral Trust Agreement or as directed by an Act of Parity Lien Debtholders in accordance with the Collateral Trust Agreement, the Collateral Trustee will not be obligated: (1) to act upon directions purported to be delivered to it by any Person; (2) to foreclose upon or otherwise enforce any Lien; or (3) to take any other action whatsoever with regard to any or all of the Security Documents, the Liens created thereby or the Collateral.

Collateral Trustee. (a) The Collateral Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be entitled to enforce all Liens on the Collateral created by the Security Documents. (b) Except as provided in the Collateral Trust Agreement or as directed by an Act of Parity Lien Debtholders in accordance with the Collateral Trust Agreement, the Collateral Trustee will not be obligated: (1i) to act upon directions purported to be delivered to it by any Person; (2ii) to foreclose upon or otherwise enforce any Lien; or (3iii) to take any other action whatsoever with regard to any or all of the Security Documents, the Liens created thereby or the Collateral.

Collateral Trustee. (a) The Collateral Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be entitled to enforce all Liens on the Collateral created by the Security Documents. (b) Except as provided in the Collateral Trust Agreement or as directed by an Act of Parity Lien Debtholders in accordance with the Collateral Trust Agreement, the Collateral Trustee will not be obligated: (1i) to act upon directions purported to be delivered to it by any Person; (2ii) to foreclose upon or otherwise enforce take any LienEnforcement Action; or (3iii) to take any other action whatsoever with regard to any or all of the Security Documents, the Liens created thereby or the Collateral. (c) The Issuer will deliver to each Parity Lien Representative copies of all Security Documents delivered to the Collateral Trustee.

Collateral Trustee. (a) The Collateral Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be entitled to enforce all Liens on the Collateral created by the Security Documents. (b) Except as provided in the Collateral Trust Agreement or as directed by an Act of Parity Lien Debtholders in accordance with the Collateral Trust Agreement, the Collateral Trustee will not be obligated: (1i) to act upon directions purported to be delivered to it by any Person; (2ii) to foreclose upon or otherwise enforce take any LienEnforcement Action; or (3iii) to take any other action whatsoever with regard to any or all of the Security Documents, the Liens created thereby or the Collateral. (c) The Issuers will deliver to each Parity Lien Representative copies of all Security Documents delivered to the Collateral Trustee.