Secured Debt Default. The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Debtholders.
Secured Debt Default. The Collateral Agent will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured Parties.
Secured Debt Default. The Security Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until the Security Trustee is directed by an Act of Required Debtholders.
Secured Debt Default. The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Secured Parties. For the avoidance of doubt, and notwithstanding anything to the contrary herein, the Collateral Trustee shall not be subject to, or bound by, the terms and provisions of any documents to which it is not a party, and shall not be deemed to have knowledge of the terms and provisions of any document to which it is not a party.
Secured Debt Default. 33 5.9. Actions by Collateral Trustee.................................................................... 33 5.10. Security or Indemnity in favor of the Collateral Trustee........................................ 33 5.11. Rights of the Collateral Trustee................................................................ 33 5.12. Limitations on Duty of Collateral Trustee in Respect of Collateral.............................. 33 5.13. Assumption of Rights, Not Assumption of Duties.................................................. 34 5.14. No Liability for Clean Up of Hazardous Materials................................................ 34
Secured Debt Default. During the continuance of a Secured Debt Default, the Collateral Trustee shall have the right, at any time in its discretion and without notice to the Grantor, to (i) transfer to or to register in its name or in the name of its nominees any Pledged Collateral or any Pledged Investment Property and (ii) exchange any certificate or instrument representing or evidencing any Pledged Collateral or any Pledged Investment Property for certificates or instruments of smaller or larger denominations.
Secured Debt Default. The Credit Agreement Collateral Agent or the Collateral Trustee, as applicable, will not be required to inquire as to the occurrence or absence of any Secured Debt Default, or any event that, with the passage of time or the giving of notice or both, would be a Secured Debt Default, and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until, in the case of the Collateral Trustee, it is directed by an Act of Required Collateral Trust Holders and, in the case of the Credit Agreement Collateral Agent, it is directed by the Required Credit Agreement Lenders.
Secured Debt Default. 21 SECTION 5.9 Actions by Collateral Trustee.......................................................21 SECTION 5.10 Security or Indemnity in favor of the Collateral Trustee............................21 SECTION 5.11 Rights of the Collateral Trustee....................................................21 SECTION 5.12 Limitations on Duty of Collateral Trustee in Respect of Collateral..................22 SECTION 5.13 Assumption of Rights, Not Assumption of Duties......................................22 SECTION 5.14 No Liability for Clean Up of Hazardous Materials....................................23 SECTION 5.15 Co-Trustee..........................................................................23 Article 6. Resignation and Removal of the Collateral Trustee...........................................24 SECTION 6.1 Resignation or Removal of Collateral Trustee........................................24 SECTION 6.2 Appointment of Successor Collateral Trustee.........................................24 SECTION 6.3 Succession..........................................................................25 SECTION 6.4 Merger, Conversion or Consolidation of Collateral Trustee...........................25
Secured Debt Default. The Collateral Trustee will not be deemed to have knowledge of any Secured Debt Default of which a Responsible Officer of the Collateral Trustee shall not have received written notification and will not be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed in writing by an Act of Required Debtholders (or an act of Required Junior Lien Debtholders to the extent provided herein). Neither the Collateral Trustee nor any of its directors, officers, employees, agents or affiliates shall have any duty to monitor or to inquire as to the performance of Satmex’s or any Guarantor’s covenants herein or in any Secured Debt Document or any Security Document, or as to the performance by any agent of its duties hereunder, nor shall it have any liability in connection with the malfeasance or nonfeasance of any such party.
Secured Debt Default. 58 SECTION 6.9
