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.
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Samples: Commitment Letter, Intercreditor Agreement
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.
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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 Xxxxxx of enforcement); or
(b) in the absence of any such instructions, as the Security Agent sees fit.
Appears in 1 contract
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.
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