Common use of Individual Rights of Trustee and the Security Agent Clause in Contracts

Individual Rights of Trustee and the Security Agent. The Trustee or the Security Agent in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, any Guarantor or any Affiliate of the Issuer or any Guarantor with the same rights it would have if it were not Trustee or Security Agent. However, in the event that the Trustee acquires any conflicting interest as such term is used in Section 310(b) of the U.S. Trust Indenture Act of 1940, as amended, it must eliminate such conflict within ninety (90) days or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Section 7.09 and Section 7.10 hereof.

Individual Rights of Trustee and the Security Agent. The Trustee or Trustee, the Security Agent and the Agents in its their respective individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, any Guarantor Issuers or any Affiliate of the an Issuer or any Guarantor with the same rights it they would have if it they were not Trustee or and Security Agent. However, in the event that the Trustee acquires has actual knowledge that is has acquired any conflicting interest as such term is used in Section 310(b) of the U.S. Trust Indenture Act of 1940, as amended, it must eliminate such conflict within ninety (90) 90 days or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Section 7.09 and Section 7.10 hereof.

Individual Rights of Trustee and the Security Agent. The Trustee or and the Security Agent in its their individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, any Guarantor Issuers or any Affiliate of the Issuer or any Guarantor its Affiliates with the same rights it would have if it were not Trustee or the Security Agent. Any Paying Agent, Registrar, co registrar or co paying agent may do the same with like rights. However, in the event that the Trustee acquires has actual knowledge that it has acquired any conflicting interest as such term is used in Section 310(b) of the U.S. Trust Indenture Act of 1940, as amended, it must eliminate such conflict within ninety (90) 90 days or resign. Any Agent #94579868v11 may do the same with like rights and duties. The Trustee is and the Security Agent are also subject to Section 7.09 and Section 7.10 hereof‎Section 7.09.