Common use of Holders Authorize Trustee To Effectuate Subordination of Notes Clause in Contracts

Holders Authorize Trustee To Effectuate Subordination of Notes. Each Holder of Notes by his acceptance of such Notes authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article Nine, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding-up, total liquidation or reorganization of the Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the 89 96 benefit of creditors or otherwise) tending towards liquidation of the business and assets of the Company, the filing of a claim for the unpaid balance of the principal of and interest on its or his Notes in the form required in those proceedings.

Holders Authorize Trustee To Effectuate Subordination of Notes. Each Holder holder of Notes by his acceptance of such Notes authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article Nine4, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding-up, total liquidation or reorganization of the Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the 89 96 benefit of creditors or otherwise) tending towards liquidation of the business and assets of the Company, the filing of a claim for the unpaid balance of the principal of and interest on its or his Notes in the form required in those proceedings.

Holders Authorize Trustee To Effectuate Subordination of Notes. Each Holder of Notes by his acceptance of such Notes authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article NineEight, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding-winding up, total liquidation or reorganization of the Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the 89 96 benefit of creditors or otherwise) tending towards liquidation of the business and assets of the Company, the filing of a claim for the unpaid balance of the principal of and interest on its or his Notes in the form required in those proceedings.

Holders Authorize Trustee To Effectuate Subordination of Notes. Each Holder of Notes by his the Holder's acceptance of such Notes authorizes and expressly directs the Trustee on his the Holder's behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article NineVIII, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding-up, total liquidation or reorganization of the Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the 89 96 benefit of creditors or otherwise) tending towards liquidation of the business and assets of the Company, the filing of a claim for the unpaid balance of the principal of and interest on its or his Notes in the form required in those proceedings.

Holders Authorize Trustee To Effectuate Subordination of Notes. Each Holder of Notes by his acceptance of such Notes authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article Nine4, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding-up, total liquidation or reorganization of the Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the 89 96 benefit of creditors or otherwise) tending towards liquidation of the business and assets of the Company, the filing of a claim for the unpaid balance of the principal of and interest on its or his Notes in the form required in those proceedings.