Common use of Holders Authorize Trustee to Effectuate Subordination of Securities Clause in Contracts

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities 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 Eight, 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 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 its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities 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 Eight, 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 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 its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his such Holder’s acceptance of such any Securities 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 EightFifteen, and appoints the Trustee his such Holder’s 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 benefit of creditors or otherwise) tending towards liquidation of the business property and assets of the Company, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities 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 EightTwelve, 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 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 its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his or its acceptance of such any Securities authorizes and expressly directs the Trustee on his or its behalf to take such action (but the Trustee shall have no obligation to take such action) as may be necessary or appropriate to effectuate the subordination provided in this Article EightFifteen, and appoints the Trustee his or its attorney-in-fact for such purposes, including, in the event of any dissolution, winding-winding up, total liquidation or reorganization of the Company Partnership (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business property and assets of the CompanyPartnership, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his such Holder’s acceptance of such any Securities 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 EightFifteen, and appoints the Trustee his such Holder’s attorney-in-fact for such purposes, including, in the event of any dissolution, winding-winding up, total liquidation or reorganization of the Company Partnership (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business property and assets of the CompanyPartnership, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his such Xxxxxx’s acceptance of such any Securities 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 EightFifteen, and appoints the Trustee his such Holder’s 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 benefit of creditors or otherwise) tending towards liquidation of the business property and assets of the Company, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his or its acceptance of such any Securities authorizes and expressly directs the Trustee on his or its behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article EightFifteen, and appoints the Trustee his or its 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 benefit of creditors or otherwise) tending towards liquidation of the business property and assets of the Company, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities 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 EightArticle, 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 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 its or his Securities in the form required in those proceedings.

Holders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Securities by his acceptance of such Securities 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 Eight, 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 either of the Company Issuers (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of either of the CompanyIssuers, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.