Common use of Action Upon Instructions of Banks Clause in Contracts

Action Upon Instructions of Banks. Each Agent agrees, upon the written request of the Required Banks, to take any action of the type specified in the Loan Documents as being within such Agent's rights, duties, powers or discretion. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, hereunder in accordance with written instructions signed by the Required Banks (or all of the Banks, as applicable), and such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the Banks and on all holders of the Notes. In the absence of a request by the Required Banks, each Agent shall have authority, in its sole discretion, to take or not to take any action, unless the Loan Documents specifically require the consent of the Required Banks or all of the Banks.

Action Upon Instructions of Banks. Each The Administrative Agent agrees, upon the written request of the Required Banks, to take any action of the type specified in the Loan Documents as being within such the Administrative Agent's rights, duties, powers or discretion. Each The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, hereunder in accordance with written instructions signed by the Required Banks (or all of the Banks, as applicable), and such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the Banks and on all holders of the Notes. In the absence of a request by the Required Banks, each the Administrative Agent shall have authority, in its sole discretion, to take or not to take any action, unless the Loan Documents specifically require the consent of the Required Banks or all of the Banks.