Common use of Right to Initiate Judicial Proceedings Clause in Contracts

Right to Initiate Judicial Proceedings. Without limiting any provision contained in Section 2.1, the Trustee, subject to the provisions of clause (b) of Section 2.4, (i) shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Agreement and each Security Document and (ii) may proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all or, from time to time, any of the Collateral under the judgment or decree of a court of competent jurisdiction, in the case of each of clauses (i) and (ii), solely in accordance with Requisite Instructions delivered to the Trustee.

Right to Initiate Judicial Proceedings. Without limiting any provision contained in Section 2.1, the TrusteeCollateral Agent, subject to the provisions of clause (b) of Section 2.4, (i) shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Agreement and each Security Document and (ii) may proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all or, from time to time, any of the Collateral under the judgment or decree of a court of competent jurisdiction, in the case of each of clauses (i) and (ii), solely in accordance with Requisite Instructions delivered to the TrusteeCollateral Agent.