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.
Appears in 21 contracts
Samples: Refinancing Amendment and Successor Administrative Agent Agreement (MRC Global Inc.), Term Loan Credit Agreement (MRC Global Inc.), Credit and Guaranty Agreement (Delta Air Lines Inc /De/)
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 DebtholdersSecured Parties.
Appears in 6 contracts
Samples: Collateral Trust Agreement (Valaris LTD), Collateral Trust Agreement, Supplemental Indenture (Altera Infrastructure L.P.)
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 receives a Notice of Required DebtholdersActionable Default.
Appears in 4 contracts
Samples: Collateral Trust Agreement (Midwest Generation LLC), Collateral Trust and Intercreditor Agreement (Entravision Communications Corp), Collateral Trust Agreement (Midwest Generation LLC)
Secured Debt Default. The Except for its obligations under Section 3.3, 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.
Appears in 2 contracts
Samples: Collateral Trust Agreement (Terremark Worldwide Inc.), Collateral Trust Agreement (Leap Wireless International Inc)
Secured Debt Default. The Collateral Trustee will shall not be required to inquire as to the occurrence or absence of any Secured Debt Default and will shall 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 receives a Notice of Actionable Default or a Responsible Officer of the Collateral Trustee has actual knowledge that an Actionable Default has occurred and is directed by an Act of Required Debtholderscontinuing.
Appears in 2 contracts
Samples: Collateral Trust Agreement (NRG Energy, Inc.), Collateral Trust Agreement (NRG Energy Inc)
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 DebtholdersCreditors.
Appears in 1 contract
Samples: Collateral Trust Agreement (Belden & Blake Corp /Oh/)
Secured Debt Default. The Collateral Trustee will shall not be required to inquire as to the occurrence or absence of any Secured Debt Default and will shall 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 Instructing Debtholders.
Appears in 1 contract
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 DebtholdersSecured Parties or as otherwise set forth in Section 3.03.
Appears in 1 contract
Secured Debt Default. The Collateral Trustee will shall not be required to inquire as to the occurrence or absence of any Secured Debt Default and will shall 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 receives a Notice of an Actionable Default or a Responsible Officer of the Collateral Trustee has actual knowledge that an Actionable Default has occurred and is directed by an Act of Required Debtholderscontinuing.
Appears in 1 contract
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 Stock Secured Debtholders or an Act of Required Asset Secured Debtholders, as the case may be.
Appears in 1 contract
Secured Debt Default. The Collateral Trustee will not be required to inquire as to the occurrence or absence of any default or Secured Debt Default and will not be deemed to have knowledge of or affected by or required to act upon any notice or knowledge as to the occurrence of any default or Secured Debt Default unless and until it is directed by an Act of Required Debtholders.
Appears in 1 contract
Samples: Collateral Trust Agreement (American Casino & Entertainment Properties LLC)
