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.
Appears in 4 contracts
Samples: Assignment Agreement (Grindrod Shipping Holdings Ltd.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.), Facility Agreement (Scorpio Tankers Inc.)
Enforcement through Security Agent only. The Creditor Secured Parties and the Export Credit Agency 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.
Appears in 2 contracts
Samples: Sace Facility Agreement (Norwegian Cruise Line Holdings Ltd.), Sace Facility Agreement (Norwegian Cruise Line Holdings Ltd.)
