Common use of Security Agent’s Actions Clause in Contracts

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 11.1 (Facilitation of Distressed Disposals and Appropriation), Clause 11.2 (Form of consideration 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 case: (i) on the instructions of the Instructing Group Group; or, (ii) in the absence of any such instructions, as the Security Agent sees fit.

Security Agent’s Actions. For the purposes of Clause 11.1 12.1 (Facilitation of Distressed Disposals and Appropriation), Clause 11.2 12.2 (Form of consideration for Distressed Disposals and Debt Disposals) and Clause 11.4 12.4 (Fair Valuevalue) and Clause 12.5 (Fair value – safe harbours) 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 10.3 (Manner of enforcement); and (b) in any other case case: (i) on the instructions of the an Instructing Group Group; or, (ii) in the absence of any such instructions, as the Security Agent sees fitit considers in its discretion to be appropriate.