Action or Inaction by Funding Agent. (a) Each Funding 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 Lender in its lender Group and assurance of its indemnification by the Lender in its Lender Group, as it deems appropriate. (b) Each Funding 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 Lender in its Lender Group and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon such Lender.
Appears in 7 contracts
Samples: u.s. Receivables Loan Agreement (Huntsman International LLC), u.s. Receivables Loan Agreement, u.s. Servicing Agreement, u.s. Receivables Purchase Agreement (Huntsman International LLC), u.s. Receivables Loan Agreement, u.s. Servicing Agreement, u.s. Receivables Purchase Agreement (Huntsman International LLC)
Action or Inaction by Funding Agent. (a) Each Funding Agent shall in all cases be fully justified in failing or refusing to take action under any Transaction Document unless it they shall first receive such advice or concurrence of the Lender in its lender Lender Group and assurance of its indemnification by the Lender in its Lender Group, as it deems appropriate.
(b) Each Funding 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 Lender in its Lender Group and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon such Lender.
Appears in 2 contracts
Samples: European Receivables Loan Agreement, European Receivables Loan Agreement (Huntsman CORP)
