Common use of Action at Direction of Holders or Issuer Clause in Contracts

Action at Direction of Holders or Issuer. (A) Neither the Global Agent nor the Exchange Administrator shall be under any obligation to exercise any of the rights or powers vested in it by this Agreement at the request or direction of any of the Holders pursuant to this Agreement or the Debt Agreement, unless such request or direction is made by the percentage of Holders required hereunder or thereunder (or if no percentage is specified, by a majority of the Holders), and such Holders shall have offered to such party security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction.