Common use of Duties of Trustee and Collateral Agent Clause in Contracts

Duties of Trustee and Collateral Agent. (a) If an Event of Default has occurred and is continuing, the Trustee or the Collateral Agent shall exercise the rights and powers vested in it by this Indenture, the Collateral Documents and the Intercreditor Agreements, as the case may be, and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default occurs and is continuing, the Trustee and the Collateral Agent shall be under no obligation to exercise any of the rights or powers under this Indenture, the Notes, the Subsidiary Guarantees, the Collateral Documents and the Intercreditor Agreements at the request or direction of any of the Holders unless such Holders have offered the Trustee or the Collateral Agent indemnity, security or prefunding satisfactory to the Trustee or the Collateral Agent in its sole discretion, as applicable, against loss, liability or expense.

Duties of Trustee and Collateral Agent. (a) If an Event of Default has occurred and is continuing, the Trustee or the Collateral Agent shall exercise the rights and powers vested in it by this Indenture, the Collateral Documents and the Intercreditor AgreementsAgreement, as the case may be, and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default occurs and is continuing, the Trustee and the Collateral Agent shall be under no obligation to exercise any of the rights or powers under this Indenture, the Notes, the Subsidiary Guarantees, the Collateral Documents Documents, the First Lien Intercreditor Agreement and the Intercreditor Agreements Agreement at the request or direction of any of the Holders unless such Holders have offered the Trustee or the Collateral Agent indemnity, security or prefunding satisfactory to the Trustee or the Collateral Agent in its sole discretion, as applicable, against loss, liability or expense.

Duties of Trustee and Collateral Agent. (a) If an Event of Default has occurred and is continuing, the Trustee or the Collateral Agent shall exercise the rights and powers vested in it by this Indenture, the Collateral Documents and the Intercreditor AgreementsAgreement, as the case may be, and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default occurs and is continuing, the Trustee and the Collateral Agent shall be under no obligation to exercise any of the rights or powers under this Indenture, the Notes, the Subsidiary Guarantees, the Collateral Documents and the Intercreditor Agreements Agreement at the request or direction of any of the Holders unless such Holders have offered the Trustee or the Collateral Agent indemnity, security or prefunding satisfactory to the Trustee or the Collateral Agent in its sole discretion, as applicable, against loss, liability or expense.

Duties of Trustee and Collateral Agent. (a) If an Event of Default has occurred and is continuing, the Trustee or the Collateral Agent shall exercise such of the rights and powers vested in it by this Indenture, the Collateral Security Documents and the Intercreditor AgreementsAgreement, as the case may be, and use the same degree of care and skill in their exercise its exercise, as a prudent Person person would exercise or use under the circumstances in the conduct of such Personperson’s own affairs; provided that if an Event of Default occurs and is continuing, neither the Trustee and nor the Collateral Agent shall be under no any obligation to exercise any of the rights or powers under this Indenture, the Notes, the Subsidiary Guarantees, the Collateral Security Documents and the Intercreditor Agreements Agreement at the request or direction of any of the Holders unless such Holders have offered the Trustee or and/or the Collateral Agent indemnity, security or prefunding satisfactory to the Trustee or and/or the Collateral Agent in its sole discretion, as applicable, against any loss, liability or expenseexpense it may incur.

Duties of Trustee and Collateral Agent. (a) If an Event of Default has occurred and is continuing, the Trustee or the Collateral Agent shall exercise the rights and powers vested in it by this Indenture, the Collateral Security Documents and the Intercreditor AgreementsAgreement, as the case may be, and use the same degree of care and skill in their its exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default occurs and is continuing, neither the Trustee and nor the Collateral Agent shall be under no any obligation to exercise any of the rights or powers under this Indenture, the Notes, the Subsidiary Guarantees, the Collateral Security Documents and the Intercreditor Agreements Agreement at the request or direction of any of the Holders unless such Holders have offered the Trustee or and/or the Collateral Agent indemnity, security or prefunding satisfactory to the Trustee or and/or the Collateral Agent in its sole discretion, as applicable, against any loss, liability or expenseexpense it may incur.

Duties of Trustee and Collateral Agent. (a) If an Event of Default has occurred and is continuing, the Trustee or the Collateral Agent shall exercise the rights and powers vested in it by this Indenture, Indenture and the Collateral Documents and the Intercreditor AgreementsDocuments, as the case may be, and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default occurs and is continuing, the Trustee and the Collateral Agent shall be under no obligation to exercise any of the rights or powers under this Indenture, the Notes, the Subsidiary Guarantees, Guarantees and the Collateral Documents and the Intercreditor Agreements at the request or direction of any of the Holders unless such Holders have offered the Trustee or the Collateral Agent indemnity, security or prefunding satisfactory to the Trustee or the Collateral Agent in its sole discretion, as applicable, against loss, liability or expense.