Common use of Action or Inaction by Agent Clause in Contracts

Action or Inaction by Agent. The 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 Investors or the Majority Investors, as the case may be, and assurance of its indemnification by the Investors, as it deems appropriate. The 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 Investors or the Majority Investors, 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 Investor Parties. The Investor Parties and the Agent agree that unless any action to be taken by the Agent under a Transaction Document (i) specifically requires the advice or concurrence of all Investors or (ii) may be taken by the Agent alone or without any advice or concurrence of any Investor, then the Agent may take action based upon the advice or concurrence of the Majority Investors.

Action or Inaction by Agent. The 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 Investors Bank Purchasers or the Majority InvestorsBank Purchasers, as the case may be, and assurance of its indemnification by the InvestorsBank Purchasers, as it deems appropriate. The 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 Investors Bank Purchasers or the Majority InvestorsBank Purchasers, as the case may be, and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon the Conduit Purchaser and all Investor PartiesBank Purchasers. The Investor Parties Purchasers and the Agent agree that unless any action to be taken by the Agent under a Transaction Document (i) specifically requires the advice or concurrence of all Investors the Bank Purchasers or (ii) may be taken by the Agent alone or without any advice or concurrence of any InvestorBank Purchaser, then the Agent may take action based upon the advice or concurrence of the Majority InvestorsBank Purchasers.

Action or Inaction by Agent. The 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 Investors Lenders or the Majority Investors, Lenders as the case may be, and assurance of its indemnification by the InvestorsLenders, as it deems appropriate. The 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 Investors Lenders or the Majority InvestorsLenders, 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 Investor Partiesthe LC Issuer and the Lenders. The Investor Parties LC Issuer, the Lenders and the Agent agree that unless any action to be taken by the Agent under a Transaction Document (i) specifically requires the advice or concurrence of all Investors Lenders or (ii) may be taken by the Agent alone or without any advice or concurrence of any InvestorLender, then the Agent may take action based upon the advice or concurrence of the Majority InvestorsLenders.