Creditors’ and Debtors’ actions Clause Samples

Creditors’ and Debtors’ actions. (a) Each Creditor, Operating Facility Lender and Debtor will: (i) do all things that the Security Agent reasonably requests in order to give effect to this Clause 13 (which shall include, without limitation, the execution of any assignments, transfers, releases or other documents that the Security Agent may consider to be necessary to give effect to the releases or disposals contemplated by this Clause 13); and (ii) if the Security Agent is not entitled to take any of the actions contemplated by this Clause 13 or if the Security Agent requests that any Creditor, Operating Facility Lender, other Secured Party or Debtor take any such action, take that action itself in accordance with the instructions of the Security Agent, provided that the proceeds of any relevant disposal or other step or action are applied in accordance with Clause 13.1 (Non-Distressed Disposals) or Clause 13.2 (Distressed Disposals) as the case may be. (b) Each Secured Party irrevocably authorises and instructs the Security Agent (at the cost of the relevant Secured Party and without any consent, sanction, authority or further confirmation from any Secured Party) to be its agent to do anything which that Secured Party has authorised the Security Agent or any other Party to do under this Agreement or is itself required to do under this Agreement, but has failed to do (which shall include, without limitation, the execution of any assignments, transfers, releases or other documents that the Security Agent may consider to be necessary) to give effect to the release and disposals contemplated by this Clause 13.

Creditors’ and Debtors’ actions. Each Creditor (other than the Notes Trustee) and Debtor will: (a) do all things (or direct its Agent to do all things) that the Security Agent reasonably requests in order to give effect to this Clause ‎‎12 (which shall include, without limitation, the execution of any assignments, transfers, releases or other documents that the Security Agent may reasonably consider to be necessary to give effect to the releases or disposals contemplated by this Clause ‎‎12); and (b) if the Security Agent is not entitled to take any of the actions contemplated by this Clause ‎‎12 or if the Security Agent requests that any Creditor (or Agent if so directed by its Creditors) or Debtor take any such action, take that action itself in accordance with the reasonable instructions of the Security Agent, provided that the proceeds of those disposals are applied in accordance with Clause ‎‎12.1 (Non-Distressed Disposals) or Clause ‎‎12.2 (Distressed Disposals), as the case may be and the Pledge Permit (or any permit required thereunder) to the extent applicable.

Creditors’ and Debtors’ actions. Each Creditor other than the Bond Trustee and, until the Senior Discharge Date, each Debtor will: (a) do all things (or direct its Agent to do all things) that the Security Agent requests in order to give effect to this Clause 13 (Proceeds of Disposals) (which shall include, without limitation, the execution of any assignments, transfers, releases or other documents that the Security Agent may consider to be necessary to give effect to the releases or disposals contemplated by this Clause 13 (Proceeds of Disposals)); and (b) if the Security Agent is not entitled to take any of the actions contemplated by this Clause 14 (Proceeds of Disposals) or if the Security Agent requests that any Creditor (or Agent if so directed by its Creditors) or Debtor take any such action, take that action itself in accordance with the instructions of the Security Agent, provided that the proceeds of those disposals are applied in accordance with Clause 13.1 (Non-Distressed Disposals) or Clause 13.2 (Distressed Disposals) as the case may be.

Creditors’ and Debtors’ actions. Each Creditor, Debtor and other grantor of Transaction Security will: (a) do all things that the Security Trustee requests in order to give effect to this Clause 13 (which shall include, without limitation, the execution of any assignments, transfers, releases or other documents that the Security Trustee may consider to be necessary to give effect to the releases or disposals contemplated by this Clause 13); and (b) if the Security Trustee is not entitled to take any of the actions contemplated by this Clause 13 or if the Security Trustee requests that any Creditor, Debtor or other grantor of Transaction Security take any such action, take that action itself in accordance with the instructions of the Security Trustee, provided that the proceeds of those disposals are applied in accordance with Clause 14.2 (Distressed Disposals).

Creditors’ and Debtors’ actions. ‌ Each Creditor and each Debtor will:

Creditors’ and Debtors’ actions. Each Creditor and Debtor will: (a) do all things that the Security Agent reasonably requests in order to give effect to this Clause 13 (which shall include, without limitation, the execution of any assignments, transfers, releases or other documents that the Security Agent may reasonably consider to be necessary to give effect to the releases or disposals contemplated by this Clause 13; and (b) if the Security Agent is not entitled to take any of the actions contemplated by this Clause 13 or if the Security Agent requests that any Creditor or Debtor take any such action, take that action itself in accordance with the reasonable instructions of the Security Agent, provided that the proceeds of those disposals are applied in accordance with Clause 13.1 (Non-Distressed Transactions) or Clause 13.2 (Distressed Disposals), as the case may be.