Common use of INDIVIDUAL RIGHTS OF SECURITY AGENT Clause in Contracts

INDIVIDUAL RIGHTS OF SECURITY AGENT. The Security Agent in its individual or any other capacity may become the owner or pledgee of Lessor Notes and may otherwise deal with the Owner Lessor or any Affiliate of the Owner Lessor with the same rights it would have if it were not the Security Agent. However, in the event that the Security Agent acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the Commission for permission to continue as Lease Indenture Trustee or resign. Any Agent may do the same with like rights and duties. The Security Agent is also subject to Sections 8.10 and 8.11 hereof.

INDIVIDUAL RIGHTS OF SECURITY AGENT. The Security Agent in its individual or any other capacity may become the owner or pledgee of Lessor Notes and may otherwise deal with the Owner Lessor or any Affiliate of the Owner Lessor with the same rights it would have if it were not the Security Agent. However, in the event that the Security Agent 57 acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the Commission for permission to continue as Lease Indenture Trustee or resign. Any Agent may do the same with like rights and duties. The Security Agent is also subject to Sections 8.10 and 8.11 hereof.