Common use of Determinations Relating to Collateral Clause in Contracts

Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from an Issuer, a Guarantor or the Collateral Agent under any Collateral Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ or such Guarantor’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Document any material performance or the delivery of any material instrument or (iii) the Trustee shall become aware of any nonperformance by an Issuer or a Guarantor of any covenant or any breach of any representation or warranty of such Issuer or such Guarantor set forth in any Collateral Document, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, to such request or render any requested performance or respond, or direct the Collateral Agent to respond, to such nonperformance or breach; provided that the Trustee’s right to direct the Collateral Agent to respond shall be subject to the terms of the Collateral Documents. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

Appears in 2 contracts

Samples: Indenture (DT Credit Company, LLC), Indenture (DT Acceptance Corp)

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Determinations Relating to Collateral. In Except for any consent, approval or action by the Collateral Agent in the ordinary course of the performance of the Collateral Agent’s duties under the Indenture or the Security Documents, in the event (i) the Trustee Collateral Agent shall receive any written request from an Issuerthe Company, a Guarantor or the Collateral Agent Trustee under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Company’s or such Guarantor’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Trustee Collateral Agent shall become aware of any nonperformance by an Issuer the Company or a Guarantor of any covenant or any breach of any representation or warranty of such Issuer the Company or such Guarantor set forth in any Collateral Security Document, then, in each such event, the Trustee Collateral Agent shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee Collateral Agent on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, should respond to such request or render any requested performance or respond, or direct the Collateral Agent to respond, respond to such nonperformance or breach; provided that the Trustee’s right to direct the . The Collateral Agent to respond shall be subject to the terms of the Collateral Documents. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

Appears in 2 contracts

Samples: Collateral Trust Agreement (Harbinger Group Inc.), Supplemental Indenture (Harbinger Group Inc.)

Determinations Relating to Collateral. In Except for any consent, approval or action by the Trustee in the ordinary course of the performance of the Trustee’s duties under this Indenture or the Collateral Documents, in the event (i) the Trustee shall receive any written request from an Issuer, a Guarantor the Company or the Collateral Agent under any Collateral Document for consent or approval with respect to any matter or thing relating to any Notes Collateral or the Issuers’ or such GuarantorCompany’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Document any material performance or the delivery of any material instrument or (iii) the Trustee shall become aware receive written notice of any nonperformance by an Issuer or a Guarantor the Company of any covenant or any breach of any representation or warranty of such Issuer or such Guarantor the Company set forth in any Collateral Document, then, in each such event, the Trustee shall be entitled entitled, at the Company’s expense, to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, to such request or render any requested performance or respond, or direct the Collateral Agent to respond, to such nonperformance or breach; provided that the Trustee’s right to direct the Collateral Agent to respond shall be subject to the terms of the Collateral Documents. The Each of the Collateral Agent and the Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding NotesSecurities.

Appears in 2 contracts

Samples: Indenture (United Refining Co), Indenture (United Refining Co)

Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from an Issuerthe Company, a Guarantor or the Collateral Agent under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Company’s or such Guarantor’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Trustee shall become aware of any nonperformance by an Issuer the Company or a Guarantor of any covenant or any breach of any representation or warranty of such Issuer the Company or such Guarantor set forth in any Collateral Security Document, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, to such request or render any requested performance or respond, or direct the Collateral Agent to respond, to such nonperformance or breach; provided that the Trustee’s right to direct the Collateral Agent to respond shall be subject to the terms of the Collateral Security Documents. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

Appears in 2 contracts

Samples: Supplemental Indenture (NFC Castings Inc), Supplemental Indenture (Neenah Foundry Co)

Determinations Relating to Collateral. In Except for any consent, approval or action by the Collateral Agent in the ordinary course of the performance of the Collateral Agent’s duties under this Indenture or the Security Documents, in the event (i) the Trustee Collateral Agent shall receive any written request from an Issuerthe Company, a Guarantor or the Collateral Agent Trustee under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Company’s or such Guarantor’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Trustee Collateral Agent shall become aware of any nonperformance by an Issuer the Company or a Guarantor of any covenant or any breach of any representation or warranty of such Issuer the Company or such Guarantor set forth in any Collateral Security Document, then, in each such event, the Trustee Collateral Agent shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee Collateral Agent on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, should respond to such request or render any requested performance or respond, or direct the Collateral Agent to respond, respond to such nonperformance or breach; provided that the Trustee’s right to direct the . The Collateral Agent to respond shall be subject to the terms of the Collateral Documents. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

Appears in 1 contract

Samples: Collateral Agency Agreement (Molycorp, Inc.)

Determinations Relating to Collateral. In Except for any consent, approval or action by the Collateral Trustee in the ordinary course of the performance of the Collateral Trustee’s duties under the Indenture or the Security Documents, in the event (i) the Collateral Trustee shall receive any written request from an Issuerthe Company, a Guarantor or the Collateral Agent Trustee under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Company’s or such Guarantor’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent Trustee under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Collateral Trustee shall become aware of any nonperformance by an Issuer the Company or a Guarantor of any covenant or any breach of any representation or warranty of such Issuer the Company or such Guarantor set forth in any Collateral Security Document, then, in each such event, the Collateral Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Collateral Trustee on the manner in which the Collateral Trustee should respond, or direct the Collateral Agent to respond, respond to such request or render any requested performance or respond, or direct the Collateral Agent to respond, respond to such nonperformance or breach; provided that the Trustee’s right to direct the Collateral Agent to respond shall be subject to the terms of the Collateral Documents. The Collateral Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

Appears in 1 contract

Samples: Indenture (Spectrum Brands, Inc.)

Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from an the Issuer, a Guarantor or the Collateral Agent under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Issuer’s or such Guarantor’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Trustee shall become aware of any nonperformance by an the Issuer or a Guarantor of any covenant or any breach of any representation or warranty of such the Issuer or such Guarantor set forth in any Collateral Security Document, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, to such request or render any requested performance or respond, or direct the Collateral Agent to respond, to such nonperformance or breach; provided that the Trustee’s right to direct the Collateral Agent to respond shall be subject to the terms of the Collateral Security Documents. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

Appears in 1 contract

Samples: Indenture (Spansion Inc.)

Determinations Relating to Collateral. In the event (i) the Indenture Trustee shall receive any written request from an Issuer, a Guarantor the Issuer or the Collateral Agent under any Collateral Document other obligor for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Issuer’s or such Guarantorany other obligor’s obligations with respect thereto, thereto or (ii) there shall be due to or from the Indenture Trustee or the Collateral Agent under the provisions of hereof any Collateral Document any material performance or the delivery of any material instrument or (iii) the Indenture Trustee shall become aware of any nonperformance by an the Issuer or a Guarantor any other obligor of any covenant or any breach of any representation or warranty of such the Issuer or such Guarantor any other obligor set forth in this Indenture or any Collateral other Transaction Document, then, in each such event, the Indenture Trustee shall be entitled entitled, at the expense of the Issuer, to hire experts, consultants, agents and attorneys to advise the Indenture Trustee on the manner in which the Indenture Trustee should respond, or direct the Collateral Agent to respond, respond to such request or render any requested performance or respond, or direct the Collateral Agent to respond, response to such nonperformance or breach; provided that breach (the Trustee’s right to direct the Collateral Agent to respond shall expenses of which will be subject reimbursed to the terms of the Collateral DocumentsIndenture Trustee pursuant to Section 8.07). The Indenture Trustee shall will be fully protected and shall not incur any personal liability in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding NotesMajority Holders.

Appears in 1 contract

Samples: Servicing Agreement (Enova International, Inc.)

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Determinations Relating to Collateral. In the event (i) the Trustee shall receive any written request from an the Issuer, a Guarantor or the Collateral Agent under any Collateral Document Security Agreement for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Issuer’s or such Guarantor’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Document Security Agreement any material performance or the delivery of any material instrument or (iii) the Trustee shall become aware of any nonperformance by an the Issuer or a Guarantor of any covenant or any breach of any representation or warranty of such the Issuer or such Guarantor set forth in any Collateral DocumentSecurity Agreement, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, to such request or render any requested performance or respond, or direct the Collateral Agent to respond, to such nonperformance or breach; provided that the Trustee’s right to direct the Collateral Agent to respond shall be subject to the terms of the Collateral DocumentsSecurity Agreements. The Trustee shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding Notes.

Appears in 1 contract

Samples: Supplemental Indenture (Seagate Technology)

Determinations Relating to Collateral. In the event (i) the Collateral Agent or the Trustee shall receive any written request from an Issuer, a Guarantor the Company or the Collateral Agent any other Pledgor under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Company's or such Guarantor’s any other Pledgor's obligations with respect thereto, thereto or (ii) there shall be due to or from the Trustee Collateral Agent or the Collateral Agent Trustee under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Collateral Agent or the Trustee shall become aware of any nonperformance by an Issuer the Company or a Guarantor any other Pledgor of any covenant or any breach of any representation or warranty of such Issuer the Company or such Guarantor any other Pledgor set forth in any Collateral Security Document, then, in each such event, the Collateral Agent and the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Collateral Agent and the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respondor the Trustee, as the case may be, should respond to such request or render any requested performance or respond, or direct the Collateral Agent to respond, response to such nonperformance or breach; provided that breach (the Trustee’s right reasonable expenses of which shall be reimbursed to direct the Collateral Agent and the Trustee pursuant to respond shall be subject to the terms of the Collateral DocumentsSection 7.7). The Trustee Collateral Agent shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of holders of the outstanding NotesSecurities pursuant to Section 6.5.

Appears in 1 contract

Samples: Covenants (Rti Capital Corp)

Determinations Relating to Collateral. In the event (i) the Collateral Agent or the Trustee shall receive any written request from an Issuer, a Guarantor the Company or the Collateral Agent any other Pledgor under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ Company's or such Guarantor’s any other Pledgor's obligations with respect thereto, thereto or (ii) there shall be due to or from the Trustee Collateral Agent or the Collateral Agent Trustee under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Collateral Agent or the Trustee shall become aware of any nonperformance by an Issuer the Company or a Guarantor any other Pledgor of any covenant or any breach of any representation or warranty of such Issuer the Company or such Guarantor any other Pledgor set forth in any Collateral Security Document, then, in each such event, the Collateral Agent and the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Collateral Agent and the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respondor the Trustee, as the case may be, should respond to such request or render any requested performance or respond, or direct the Collateral Agent to respond, response to such nonperformance or breach; provided that breach (the Trustee’s right reasonable expenses of which shall be reimbursed to direct the Collateral Agent and the Trustee pursuant to respond shall be subject to the terms of the Collateral DocumentsSection 7.7). The Trustee Collateral Agent shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in aggregate principal amount of the outstanding NotesNotes pursuant to Section 6.5.

Appears in 1 contract

Samples: Blue Steel Capital Corp

Determinations Relating to Collateral. In the event (i) the Trustee shall receive any Written Request from the Issuer or on any written request from an Issuer, a Guarantor or the Collateral Agent under any Collateral Security Document for consent or approval with respect to any matter or thing relating to any Collateral or the Issuers’ or such GuarantorIssuer’s obligations with respect thereto, (ii) there shall be due to or from the Trustee or the Collateral Agent under the provisions of any Collateral Security Document any material performance or the delivery of any material instrument or (iii) the Trustee shall become aware of any nonperformance by an the Issuer or a Guarantor of any covenant or any breach of any representation or warranty of such the Issuer or such Guarantor set forth in any Collateral Security Document, then, in each such event, the Trustee shall be entitled to hire experts, consultants, agents and attorneys to advise the Trustee on the manner in which the Trustee should respond, or direct the Collateral Agent to respond, to such request or render any requested performance or respond, or direct the Collateral Agent to respond, to such nonperformance or breach; provided that the Trustee’s right to direct the Collateral Agent to respond shall be subject to the terms of the Collateral Security Documents. The Trustee and the Collateral Agent shall be fully protected in the taking of any action recommended or approved by any such expert, consultant, agent or attorney or agreed to by the Holders of a majority in principal amount of the outstanding NotesOutstanding Senior Debentures.

Appears in 1 contract

Samples: Trust Indenture (Performance Drilling Co LLC)

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