Enforcement through Security Agent only. The Secured Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising under the Security Documents except through the Security Agent.
Enforcement through Security Agent only. The Creditor Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising under the Security Documents except through the Security Agent.
Enforcement through Security Agent only. The Secured Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising under the Transaction Security Documents except through the Security Agent. If any Secured Party (other than the Security Agent) is a party to any of the Spanish Pledges it shall promptly upon being requested by the Facility Agent to do so grant a power of attorney or other sufficient authority to the Security Agent to enable the Security Agent to exercise any rights, discretions or powers or to grant any consents or releases under such Spanish Pledges.
Enforcement through Security Agent only. (a) The Secured Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising under the Transaction Security Documents except through the Security Agent. Notwithstanding the foregoing, nothing in this Agreement shall restrict or prevent any Primary Creditor (as defined in the Intercreditor Agreement) from:
(i) the taking of any action which is necessary (but only to the extent necessary) to preserve the validity, existence or priority of claims in respect of any of the Liabilities (as defined in the Intercreditor Agreement), including the registration of such claims before any court or governmental authority and the bringing, supporting or joining of proceedings to prevent any loss of the right to bring, support or join proceedings by reason of applicable limitation periods; or
(ii) (subject to Clause 4.7 (Provisions Related to U.S. Insolvency Proceedings)) proposing, initiating, or taking any step to support or continue, any winding-up, liquidation, reorganisation, administration, bankruptcy, dissolution, receivership, administrative receivership or judicial management, or other similar or analogous proceedings in respect of any Debtor or any member of the Group (as defined in the Intercreditor Agreement) (collectively "Insolvency Proceedings"), which Insolvency Proceedings such Primary Creditor would be entitled to propose, initiate or take steps to support or continue had it (or any Senior Liabilities (as defined in the Intercreditor Agreement) owing to it) not been secured by any Transaction Security, provided that no Primary Creditor shall propose, initiate, or take any step to support or continue any Insolvency Proceedings (including a scheme of arrangement or similar plan or arrangement) that is inconsistent with the priorities set forth in, or that violates any provision of, this Agreement (provided further that, for the avoidance of doubt, a scheme of arrangement or similar plan or arrangement (which does not seek to vary the priorities with respect to any Transaction Security or the sharing or distribution of proceeds of any Transaction Security contemplated in this Agreement) shall not be deemed to violate any provision of this Agreement solely by virtue of such scheme, plan or arrangement involving any compromise of (by way of reduction in the amount of) Secured Obligations, provided further that nothing herein shall oblige any Prima...
Enforcement through Security Agent only. The Finance Parties have no independent power to enforce, and no recourse to, any of the Security Documents or to exercise any right, power, authority or discretion arising under the Security Documents except through the Security Agent.
Enforcement through Security Agent only. Subject to Clause 7.6 (Disruption), the Finance Parties shall not, in relation to the Facility, have any independent power to enforce, or have recourse to, any of the Transaction Security for the Facility or to exercise any right, power, authority or discretion arising under the Transaction Security Documents for the Facility except through the Security Agent for the Facility.
Enforcement through Security Agent only. (a) The other Finance Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising or to grant any consents or releases under the Security Documents except through the Security Agent or as required and permitted by this clause 35.4.
(b) Where a Finance Party (other than the Security Agent) is a party to a Security Document that Finance Party shall:
(i) promptly take such action as the Security Agent may reasonably require (acting on the instructions of the Agent) to enforce, or have recourse to, any of the Transaction Security constituted by such Security Document or, for such purposes, to exercise any right, power, authority or discretion arising or to grant any consents or releases under such Security Document or (subject to clause 45.5 (Releases)) to release, reassign and/or discharge any such Transaction Security or any guarantee or other obligations under any such Security Document; and
(ii) not take any such action except as so required or (in the case of a release) for a release which is expressly permitted or required by the Finance Documents.
(c) Each Finance Party (other than the Security Agent) shall, promptly upon being requested by the Security Agent (acting on the instructions of the Agent) to do so, grant a power of attorney or other sufficient authority to the Security Agent to enable the Security Agent or such legal advisers to enforce or have recourse in the name of such Finance Party to the relevant Transaction Security constituted by such Security Document or to exercise any such right, power, authority or discretion or to grant any such consent or release under such Security Document or to release, reassign and/or discharge any such Transaction Security on behalf of such Finance Party.
Enforcement through Security Agent only. Existing 2025 Notes Security
Enforcement through Security Agent only. (a) The Secured Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising under the Security Documents except through the Security Agent.
(b) For all Mexican law purposes, each of the Secured Parties hereby grants a comisión mercantil con representación to the Security Agent pursuant to Articles 273, 274 and other correlative articles of the Mexican Commerce Code (Código de Comercio) so that the Security Agent may on its behalf enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising under the Security Documents, pursuant to the terms set forth herein, and the Security Agent hereby accepts such comisión mercantil.
Enforcement through Security Agent only. (a) The Secured Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any right, power, authority or discretion arising under the applicable Security Documents except through the Security Agent.
(b) No Security Agent, nor any Primary Creditor shall be responsible to any Intra-group Lender or Debtor for any enforcement or failure to enforce or maximize the proceeds of any enforcement of the Security Documents, to an extent greater than as provided under any applicable governing law of the applicable Security Documents.
(c) Each Debtor authorizes and consents to each other Party to this Agreement to consult with each other or to provide each other with information regarding the financial and business condition of the Parent and the Group or any other matter which such parties deem relevant for purposes of taking Enforcement Action and shall procure that such authorization and consent to the extent necessary is given by any other member of the Group.
