Common use of Action or Inaction by Administrative Agent Clause in Contracts

Action or Inaction by Administrative Agent. The Administrative Agent shall in all cases be fully justified in failing or refusing to take action under any Transaction Document unless it shall first receive such advice or concurrence of the Funding Agents or the Required Committed Lenders, as the case may be, and assurance of its indemnification by the Committed Lenders, as it deems appropriate. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Transaction Document in accordance with a request or at the direction of the Required Committed Lenders, and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon all Conduit Lenders, Committed Lenders and the Funding Agents. The Lenders, the Funding Agents, and the Administrative Agent agree that unless any action to be taken by the Administrative Agent under a Transaction Document (i) specifically requires the advice or concurrence of all the Funding Agents or (ii) specifically provides that it be taken by the Administrative Agent alone or without any advice or concurrence of any Funding Agent, then the Administrative Agent may (and shall, to the extent required hereunder) take action based upon the advice or concurrence of the Required Committed Lenders.

Action or Inaction by Administrative Agent. The Administrative Agent shall in all cases be fully justified in failing or refusing to take action under any Transaction Document unless it shall first receive such advice or concurrence of the Funding Agents or Purchaser Agents, the Required Committed LendersPurchasers or the Majority Committed Purchasers, as the case may be, and assurance of its indemnification by the Committed LendersPurchasers, as it deems appropriate. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Transaction Document in accordance with a request or at the direction of the Required Committed LendersPurchasers, and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon all Conduit LendersPurchasers, Committed Lenders Purchasers and the Funding Purchaser Agents. The Lenders, the Funding Agents, and the Administrative Agent agree that unless Unless any action to be taken by the Administrative Agent under a Transaction Document (ia) specifically requires the advice or concurrence of all the Funding Purchaser Agents or (iib) specifically provides that it be taken by the Administrative Agent alone or without any advice or concurrence of any Funding Agentthe Purchaser Agents, then the Administrative Agent may (and shall, to the extent required hereunder) take action based upon the advice or concurrence of the Required Committed LendersPurchasers.

Action or Inaction by Administrative Agent. The Administrative Agent shall in all cases be fully justified in failing or refusing to take action under any Transaction Document unless it shall first receive such advice or concurrence of the Funding Agents Agents, the Committed Lenders or the Required Committed LendersFunding Agents, as the case may be, and assurance of its indemnification by the Committed Lenders, as it deems appropriate. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Transaction Document in accordance with a request or at the direction of the Required Funding Agents, Funding Agents or Committed Lenders, as the case may be, and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon all Conduit Lenders, Committed Lenders and the Funding Agents. The Lenders, the Funding Agents, and the Administrative Agent agree that unless Unless any action to be taken by the Administrative Agent under a Transaction Document (ia) specifically requires the advice or concurrence of all the Funding Agents or Committed Lenders or (iib) specifically provides that it be taken by the Administrative Agent alone or without any advice or concurrence of any Funding Agent, then the Administrative Agent may (and shall, to the extent required hereunder) take action based upon the advice or concurrence of the Required Committed LendersFunding Agents.