Common use of Security Agent instructions Clause in Contracts

Security Agent instructions. For the purposes of Clause 9.5 (Filing of claims) and Clause 9.6 (Creditors’ actions) the Security Agent shall act: (a) (except in relation to a Senior Parent Debt Issuer to the extent relating to Liabilities in respect of Senior Parent Notes and/or Permitted Parent Financing Debt where that Senior Parent Debt Issuer is the issuer or, as the case may be, the borrower) on the instructions of the group of Primary Creditors entitled, at that time, to give instructions under Clause 12.2 (Enforcement Instructions) or Clause 12.3 (Manner of enforcement); or (b) in the absence of any such instructions, as the Security Agent sees fit.

Appears in 2 contracts

Samples: Commitment Letter, Intercreditor Agreement

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Security Agent instructions. For the purposes of Clause 9.5 (Filing of claims) and Clause 9.6 (Creditors' actions) the Security Agent shall act: (a) (except in relation to a Senior Parent Debt Issuer to the extent relating to Liabilities in respect of Senior Parent Notes and/or Permitted Parent Financing Debt where that Senior Parent Debt Issuer is the issuer or, as the case may be, the borrower) on the instructions of the group of Primary Creditors entitled, at that time, to give instructions under Clause 12.2 (Enforcement Instructionsinstructions) or Clause 12.3 (Manner of enforcement); or (b) in the absence of any such instructions, as the Security Agent sees fit.

Appears in 1 contract

Samples: Intercreditor Agreement (Paysafe LTD)

Security Agent instructions. For the purposes of Clause 9.5 (Filing of claims) and Clause 9.6 (Creditors' actions) the Security Agent shall act: (a) (except in relation to a Senior Parent Debt Issuer to the extent relating to Liabilities in respect of Senior Parent Notes and/or Permitted Parent Financing Debt where that Senior Parent Debt Issuer is the issuer or, as the case may be, the borrower) on the instructions of the group of Primary Creditors entitled, at that time, to give instructions under Clause 12.2 (Enforcement Instructionsinstructions) or Clause 12.3 (Manner Xxxxxx of enforcement); or (b) in the absence of any such instructions, as the Security Agent sees fit.

Appears in 1 contract

Samples: Intercreditor Agreement (Paysafe LTD)

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Security Agent instructions. For the purposes of Clause 9.5 (Filing of claims) and Clause 9.6 (Creditors’ actions) the Security Agent shall act: (a) (except in relation to a Senior Parent Debt Issuer to the extent relating to Liabilities in respect of Senior Parent Notes and/or Permitted Parent Financing Debt where that Senior Parent Debt Issuer is the issuer or, as the case may be, the borrower) on the instructions of the group of Primary Creditors entitled, at that time, to give instructions under Clause 12.2 (Enforcement Instructionsinstructions) or Clause 12.3 (Manner of enforcement); or (b) in the absence of any such instructions, as the Security Agent sees fit.

Appears in 1 contract

Samples: Intercreditor Agreement (Paysafe LTD)

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