Common use of Securityholders Authorize Trustee To Effectuate Subordination of Guarantee Clause in Contracts

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding up, liquidation or reorganization of any Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of such Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Thirteen, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of any Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of such Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding up, liquidation or reorganization of any Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an a general assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of such Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article, and appoints the Trustee his attorney-in-fact for such purposes, . including, in the event of any proceeding for the dissolution, winding up, liquidation or reorganization of any Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) or tending towards liquidation of the business and assets of such any Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder holder of Securities by his its acceptance of such Securities authorizes and expressly directs the Trustee on its or his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Twelve, and appoints the Trustee its or his attorney-attorney- in-fact for such purposes, including, in the event of any dissolution, winding winding- up, liquidation or reorganization of any Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of such Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding up, liquidation or reorganization of any Subsidiary Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of such Subsidiary Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder of Securities by its or his acceptance of such Securities authorizes and expressly directs the Trustee trustee on its or his behalf to take such action as may be necessary or appropriate to effectuate the 86 -79- subordination provided in this ArticleArticle Twelve, and appoints the Trustee its or his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, liquidation or reorganization of any the Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of such Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.

Securityholders Authorize Trustee To Effectuate Subordination of Guarantee. Each Holder of Securities by his acceptance of such Securities authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ArticleArticle Twelve, and appoints the Trustee his attorney-in-fact for such purposes, including, in the event of any dissolution, winding winding-up, total liquidation or reorganization of Holdings or any Guarantor (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and assets of Holdings or such Guarantor, the filing of a claim for the unpaid balance of its or his Securities in the form required in those proceedings.