Common use of Securityholders Authorize Trustee to Effectuate Subordination of Securities Clause in Contracts

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Subordinated Securities by his or her acceptance thereof authorizes and expressly directs the Trustee on his or her behalf to take such action in accordance with the terms of this Indenture as may be necessary or appropriate to effectuate the subordination provisions contained in this Article 13 and to protect the rights of the Holders of Subordinated Securities pursuant to this Indenture, and appoints the Trustee his or her attorney-in-fact for such purpose.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Without purporting to limit the authority of the Trustee as may be appropriate in other circumstances, each Holder of Subordinated Securities any Security by his or her acceptance thereof thereof, irrevocably authorizes and expressly directs the Trustee on his or her behalf to take such action in accordance with the terms of this Indenture as may be necessary or appropriate to effectuate the subordination provisions contained provided in this Article 13 and to protect the rights of the Holders of Subordinated Securities pursuant to this Indenture, 5 and appoints the Trustee his or her attorney-in-fact for such purpose.

Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of Subordinated the Securities by his or her acceptance thereof authorizes and expressly directs the Trustee on his or her behalf to take such action in accordance with the terms of this Indenture as may be necessary or appropriate to effectuate the subordination provisions contained provided in this Article 13 and to protect the rights of the Holders of Subordinated Securities pursuant to this Indenture, Thirteen and appoints the Trustee his or her attorney-in-fact for such purpose.. SECTION 13.12