Common use of Control by the Controlling Party Clause in Contracts

Control by the Controlling Party. Unless otherwise -------------------------------- specifically set forth herein, the Trustee and the Trust Collateral Agent shall comply with notices and instructions given by the Issuer only if accompanied by the prior written consent of the Controlling Party, except that if any Event of Default shall have occurred and be continuing, the Trustee and the Trust Collateral Agent shall act upon and comply with notices and instructions given by the Controlling Party alone in the place and stead of the Issuer.

Appears in 4 contracts

Samples: Indenture (TFC Enterprises Inc), TFC Enterprises Inc, TFC Enterprises Inc

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Control by the Controlling Party. Unless otherwise -------------------------------- specifically set forth herein, the Trustee and the Trust Collateral Agent shall comply with notices and instructions given by the Issuer only if accompanied by the prior written consent of the Controlling Party, except that if any Event of Default shall have occurred and be continuing, the Trustee and the Trust Collateral Agent shall act upon and comply with notices and instructions given by the Controlling Party alone in the place and stead of the Issuer.

Appears in 1 contract

Samples: TFC Enterprises Inc

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