Common use of Action on Instructions of Banks Clause in Contracts

Action on Instructions of Banks. The Administrative Agent shall in all cases be fully protected in acting or refraining from acting hereunder or under any agreement executed and delivered pursuant to the terms hereof in accordance with written instructions to it signed by the Majority Banks, and (subject to Section 8.01) such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the Banks.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Anadarko Petroleum Corp), 364 Day Credit Agreement (Anadarko Petroleum Corp)

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Action on Instructions of Banks. The Administrative Agent shall in all cases be fully protected in acting acting, or in refraining from acting acting, hereunder or under any agreement executed and delivered pursuant to the terms hereof in accordance with written instructions to it signed by the Majority Required Banks, and (subject to Section 8.01) such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the BanksBanks and on all holders of Notes.

Appears in 2 contracts

Samples: Credit Agreement (Cordant Technologies Inc), Credit Agreement (Cordant Technologies Inc)

Action on Instructions of Banks. The Administrative Agent shall in all cases be fully protected in acting acting, or in refraining from acting acting, hereunder or and under any agreement executed and delivered pursuant to the terms hereof other Loan Document in accordance with written instructions to it signed by the Majority Required Banks, and (subject to Section 8.01) such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the BanksBanks and on all holders of Notes.

Appears in 2 contracts

Samples: Credit Agreement (Midamerican Funding LLC), Credit Agreement (Midamerican Funding LLC)

Action on Instructions of Banks. The Administrative Agent shall in all cases be fully protected in acting acting, or in refraining from acting acting, hereunder or and under any agreement executed and delivered pursuant to the terms hereof other Loan Documents in accordance with written instructions to it signed by the Majority Required Banks, or, if applicable, the Banks required pursuant to Article VIII hereof, and (subject to Section 8.01) such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the BanksBanks and on all holders of the Notes.

Appears in 1 contract

Samples: Credit Agreement (Jacor Communications Inc)

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Action on Instructions of Banks. The Administrative Agent shall shall, in all cases cases, act or refrain from acting, and be fully protected in acting or refraining from acting acting, hereunder or under any agreement executed and delivered pursuant to the terms hereof other Loan Documents in accordance with written instructions to it signed by the Majority Banks, Banks and (subject to Section 8.01) such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the BanksBanks and on all holders of the Notes.

Appears in 1 contract

Samples: Loan and Letter of Credit Reimbursement Agreement (Unitog Co)

Action on Instructions of Banks. The Administrative Agent shall in all cases be fully protected in acting acting, or in refraining from acting acting, hereunder or under any agreement executed and delivered pursuant to the terms hereof in accordance with written instructions to it signed by the Majority BanksRequired Banks (other than in connection with amendments requiring consent of all Banks or an affected Bank under Section 8.2), and (subject to Section 8.01) such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the BanksBanks and on all holders of Notes.

Appears in 1 contract

Samples: Long Term Revolving Credit Agreement (Conagra Foods Inc /De/)

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