Proceedings by the Trustee. Whenever any demand for payment has been made under a Debt Securities Guarantee, or if a Guarantor shall fail to pay when due (whether or not any demand for payment has been made) any amount which is payable under a Debt Securities Guarantee, but in each case subject to the provisions of Section 6.12 and any extraordinary resolution:
(a) the Trustee, in the exercise of its discretion, may proceed to enforce the rights thereunder of the Trustee and of the Debt Securities holders entitled to the benefit thereof by any action, suit, remedy or proceeding authorized or permitted by law or by equity, and may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the Debt Securities holders entitled to the benefit thereof lodged in any bankruptcy, winding-up or other judicial proceedings relative to the any Guarantor; and
(b) upon receipt of a request in writing signed by the holders of not less than 25% in aggregate principal amount of the Debt Securities then outstanding (or, if the Debt Securities Guarantee is only for the benefit of one or more series of Debt Securities, 25% in aggregate principal amount of the then outstanding Debt Securities of such series) and upon being indemnified to its reasonable satisfaction against all costs, expenses and liabilities to be incurred, the Trustee shall proceed in its name as Trustee hereunder to obtain or enforce payment of the amount due under such Debt Securities Guarantee (together with any other amounts due thereunder) and shall exercise or take such one or more of the said remedies as the Trustee in such requests shall have been directed to take or, if such request contains no direction, as the Trustee may deem expedient.
Proceedings by the Trustee. Whenever an event of default or an other default has occurred, but subject to the provisions of section 10.06 and to the provisions of any extraordinary resolution:
Proceedings by the Trustee. (1) Whenever any Event of Default hereunder has occurred and is continuing, but subject to the provisions of Section 6.3 and to the provisions of any Extraordinary Resolution:
(a) the Trustee may proceed to enforce the rights of the Trustee and the Licenseholders by any action, suit, remedy or proceeding authorized by this Indenture or permitted by law or by equity and may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the Licenseholders lodged in any bankruptcy, winding-up or other judicial proceeding relative to each of the Corporations; and
(b) upon receipt of a Licenseholders’ Request the Trustee, subject to Section 10.1, shall exercise or take such one or more of the said remedies as the Licenseholders’ Request may direct or, if such Licenseholders’ Request contains no direction, as the Trustee may deem expedient.
(2) No such remedy for the enforcement of the rights of the Trustee or of the Licenseholders shall be exclusive of or dependent on any other such remedy but any one or more of such remedies may from time to time be exercised independently or in combination.
Proceedings by the Trustee. At the request of the Principal Employer, the Trustee shall, if fully indemnified by the Principal Employer for its costs and expenses, take legal action against an Employer pursuant to the relevant Participation Agreement, on the Principal Employer’s behalf.
Proceedings by the Trustee. In case an Event of Default shall occur and be continuing hereunder with respect to any Applicable Debt Securities, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or otherwise made applicable to such Debt Securities, or in aid of the exercise of any power granted in this Indenture with respect to such Applicable Debt Securities, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.
Proceedings by the Trustee. Whenever any Event of Default hereunder has occurred and is continuing, but subject to the provisions of section 5.4 and to the provisions of any Extraordinary Resolution:
(a) the Trustee, without further notice, may proceed to enforce the rights of the Trustee and the holders of the Notes by any action, suit, remedy or proceeding authorized or permitted by law or by equity and may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of the Notes lodged in any bankruptcy, winding-up or other proceedings relative to the Corporation; and
(b) upon receipt of a Registered Noteholder’s Request or if so directed by an Extraordinary Resolution, and upon being funded and indemnified to its satisfaction as provided in section 10.1, the Trustee shall exercise or take such one or more of the said remedies as the Registered Noteholders’ Request or Extraordinary Resolution may direct or, if such Registered Noteholders’ Request or Extraordinary Resolution contains no direction, as the Trustee may deem expedient. All rights of action hereunder may be enforced by the Trustee without the possession of any of the Notes or the production thereof on the trial or other proceedings relative thereto.
