Security Agent’s Actions. Without prejudice to the provisions of Clause 33.4 (Application of receipts), the Security Agent may (but shall not be obliged to), in the absence of any instructions to the contrary, take such action in the exercise of any of its powers and duties under the Finance Documents as it considers in its discretion to be appropriate.
Security Agent’s Actions. Without prejudice to the provisions of Clause 12 (Enforcement of Transaction Security) and Clause 17.4 (Instructions to Security Agent and exercise of discretion), the Security Agent may (but shall not be obliged to), in the absence of any instructions to the contrary, take such action in the exercise of any of its powers and duties under the Secured Debt Documents as it considers in its discretion to be appropriate.
Security Agent’s Actions. Subject to the provisions of this Clause 27:
(a) the Security Agent may, in the absence of any instructions to the contrary, take such action in the exercise of any of its powers and duties under the Finance Documents which in its absolute discretion it considers to be for the protection and benefit of all the Secured Parties; and
(b) at any time after receipt by the Security Agent of notice from the Agent directing the Security Agent to exercise all or any of its rights, remedies, powers or discretions under any of the Finance Documents, the Security Agent may, and shall if so directed by the Agent, take any action as in its sole discretion it thinks fit to enforce the Transaction Security.
Security Agent’s Actions. Without prejudice to the provisions of Clause 7 (Enforcement of Transaction Security) and Clause 11.6 (
Security Agent’s Actions. For the purposes of Clause 14.1 (Facilitation of Distressed Disposals) and Clause 14.3 (Fair Value) the Security Agent shall act on the instructions of the Instructing Group.
Security Agent’s Actions. For the purposes of Clause 11.1 (Facilitation of Distressed Disposals and Appropriation), Clause 11.2 (Form of consideration for Distressed Disposals and Debt Disposals) and Clause 11.4 (Fair Value) the Security Agent shall act:
(a) in the case of an Appropriation or if the relevant Distressed Disposal is being effected by way of enforcement of the Transaction Security, in accordance with Clause 9.2 (Manner of enforcement); and
(b) in any other case on the instructions of the Instructing Group or, in the absence of any such instructions, as the Security Agent sees fit.
Security Agent’s Actions. For the purposes of Clause 9.1 (Facilitation of Distressed Disposals and Appropriation) and Clause 9.2 (Form of consideration for Distressed Disposals and Debt Disposals), the Security Agent shall act:
(a) in the case of any Appropriation (as defined in in the Intercreditor Agreement) or in the case of any Distressed Disposal (as defined in in the Intercreditor Agreement) (that is being effected by way of enforcement of any Transaction Security) (including any disposal of Liabilities or Debtors' Intercompany Receivables (as defined in in the Intercreditor Agreement) in accordance with Clause 9.1 (Facilitation of Distressed Disposals and Appropriation) in connection with such Distressed Disposal), in accordance with Clause 7.2 (Manner of enforcement);
(b) in the case of any Distressed Disposal (falling under paragraph (a) or (c) of the definition of "Distressed Disposal") in respect of any asset that is subject to any Transaction Security, on the instructions of the Security Instructing Creditors in respect of such Transaction Security; and
(c) in any other case:
(i) on the instructions of the Instructing Creditors; or
(ii) in the absence of any such instructions, as the Security Agent sees fit."
Security Agent’s Actions. Without prejudice to the provisions of Clause 13 (Enforcement of Transaction Security) and Clause 17.7 (Instructions to Security Agent and exercise of discretion), the Security Agent may (but shall not be obliged to), in the absence of any instructions to the contrary, take such action in the exercise of any of its powers and duties under the Debt Documents as it considers in its discretion to be appropriate. The Security Agent shall have all the rights, privileges and immunities which gratuitous trustees have or may have in England, even though it is entitled to remuneration.
Security Agent’s Actions. For the purposes of Clause 12.1 (Facilitation of Distressed Disposals and Appropriation), Clause 12.2 (Form of consideration for Distressed Disposals and Debt Disposals), Clause 12.4 (Fair value) and paragraph (b)(ii) of Clause 12.5 (Appointment of Financial Adviser), the Security Agent shall act:
(a) in the case of an Appropriation or if the relevant Distressed Disposal is being effected by way of enforcement of the Transaction Security, in accordance with Clause 10.3 (Manner of enforcement); and
(b) in any other case on the instructions of the Instructing Group or, in the absence of any such instructions, in the manner it sees fit.
Security Agent’s Actions. Any action taken by the Security Agent under or in relation to this Agreement and/or any New Security Document with the requisite authority, or on the basis of appropriate instructions, received from an Instructing Group or, if required by paragraph (b) of Subclause 10.2 (Competing Instructions to the Security Agent), the Majority Senior Subordinated Banks (or as otherwise duly authorised) shall be binding on all the Secured Creditors.
