Common use of Actions by Security Trustee and Agent Clause in Contracts

Actions by Security Trustee and Agent. Except for action expressly required of the Security Trustee or the Agent hereunder and under the other Finance Documents, each of the Security Trustee and the Agent shall in all cases be fully justified in failing or refusing to act hereunder and thereunder unless it shall receive further assurances to its satisfaction from the Lenders of their indemnification obligations under Clause 31.6 against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

Appears in 23 contracts

Samples: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

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Actions by Security Trustee and Agent. Except for action expressly required of the Security Trustee or the Agent hereunder and under the other Finance Documents, each of the Security Trustee and the Agent shall in all cases be fully justified in failing or refusing to act hereunder and thereunder unless it shall receive further assurances to its satisfaction from the Lenders of their indemnification obligations under Clause 31.6 26.5 hereof against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

Appears in 1 contract

Samples: Loan Agreement (Oceanfreight Inc.)

Actions by Security Trustee and Agent. Except for action expressly required of the Security Trustee or the Agent hereunder and under the other Finance DocumentsCollateral, each of the Security Trustee, the Security Trustee and the Agent shall in all cases be fully justified in failing or refusing to act hereunder and thereunder unless it shall receive further assurances to its satisfaction from the Lenders of their indemnification obligations under Clause 31.6 Section 9.05 hereof against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

Appears in 1 contract

Samples: Loan Agreement (Seabulk International Inc)

Actions by Security Trustee and Agent. Except for action expressly required of the Security Trustee or the Agent hereunder and under the other Finance Documents, each of the Security Trustee and the Agent shall in all cases be fully justified in failing or refusing to act hereunder and thereunder unless it shall receive further assurances to its satisfaction from the 131 ‌ SK 26945 0003 10902825 v6 ​ Lenders of their indemnification obligations under Clause 31.6 against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

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Actions by Security Trustee and Agent. Except for action expressly required of the Security Trustee or the Agent hereunder and under the other Finance Documents, each of the Security Trustee and the Agent shall in all cases be fully justified in failing or refusing to act hereunder and thereunder unless it shall receive further assurances to its satisfaction from the Lenders of their indemnification obligations under Clause 31.6 31.5 against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

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