Common use of Security Documents and Guarantee Clause in Contracts

Security Documents and Guarantee. (a) Each Holder hereby authorizes the Trustee and the Collateral Trustee, as applicable, on behalf of and for the benefit of the Holders, to be the agent for and representative of the Holders with respect to the Note Guarantees, the Shared Collateral and the Security Documents. (b) Anything contained in any of the Note Documents to the contrary notwithstanding, each Holder hereby agrees that no Holder or the Trustee shall have any right individually to realize upon any of the Shared Collateral, it being understood and agreed that all powers, rights and remedies of the Trustee hereunder may be exercised solely by the Trustee in accordance with the terms hereof and all powers, rights and remedies in respect of the Shared Collateral under the Security Documents may be exercised solely by the Collateral Trustee.

Security Documents and Guarantee. (a) Each Holder of Notes hereby authorizes the Trustee and the Collateral TrusteeAgent, as applicable, on behalf of and for the benefit of the HoldersHolders of Notes, to be the agent for and representative of the Holders of the Notes with respect to the Note Subsidiary Guarantees, the Shared Collateral and the Security Documents. (b) Anything contained in any of the Note Documents to the contrary notwithstanding, each Holder of Notes hereby agrees that no Holder or the Trustee of Notes shall have any right individually to realize upon any of the Shared Collateral, it being understood and agreed that all powers, rights and remedies of the Trustee hereunder may be exercised solely by the Trustee in accordance with the terms hereof and all powers, rights and remedies in respect of the Shared Collateral under the Security Documents may be exercised solely by the Collateral TrusteeAgent.

Security Documents and Guarantee. (a) Each Holder of the Notes, by acceptance of the Notes, hereby authorizes the Trustee and the Collateral TrusteeAgent, as applicable, on behalf of and for the benefit of the Holders, to enter into and to be the agent for and representative of the Holders with respect to the Note Guarantees, the Shared Collateral and the Security Documents. (b) Anything contained in any of the Note Documents to the contrary notwithstanding, each Each Holder hereby agrees that no Holder or the Trustee shall have any right individually to realize upon any of the Shared Collateral, it being understood and agreed that all powers, rights and remedies of the Trustee hereunder may be exercised solely by the Trustee in accordance with the terms hereof and all powers, rights and remedies in respect of the Shared Collateral under the Security Documents may be exercised solely by the Collateral TrusteeAgent. (c) The enforcement of the Collateral Agent’s Liens in the Collateral shall be governed by the Security Documents.