Common use of Agent’s Duties Clause in Contracts

Agent’s Duties. The Agent shall: 16.3.1 promptly notify each Bank of the contents of each notice, certificate or other document received by it from the Borrowers under or pursuant to clauses 8.1.1, 8.1.5 and 8.1.7; and 16.3.2 (subject to the other provisions of this clause 16) take (or instruct the Security Agent to take) such action or, as the case may be, refrain from taking (or authorise the Security Agent to refrain from taking) such action with respect to the exercise of any of its rights, remedies, powers and discretions as agent, as the Majority Banks may direct.

Agent’s Duties. The Agent shall: 16.3.1 promptly notify each Bank and the Issuing Bank of the contents of each notice, certificate or other document received by it from the Borrowers Borrower under or pursuant to clauses 8.1.1, 8.1.5 and 8.1.78.1.6 and each Borrowing Base Report; and 16.3.2 (subject to the other provisions of this clause 16) take (or instruct the Security Agent to take) such action or, as the case may be, refrain from taking (or authorise the Security Agent to refrain from taking) such action with respect to the exercise of any of its rights, remedies, powers and discretions as agent, as the Majority Banks may direct.

Agent’s Duties. The Agent shall: 16.3.1 promptly notify each Bank of the contents of each notice, certificate or other document received by it from the Borrowers Borrower under or pursuant to clauses 8.1.1, 8.1.5 8.1.6, 8.1.7 and 8.1.78.1.9; and 16.3.2 (subject to the other provisions of this clause 16) take (or instruct the Security Agent Trustee to take) such action or, as the case may be, refrain from taking (or authorise the Security Agent Trustee to refrain from taking) such action with respect to the exercise of any of its rights, remedies, powers and discretions as agent, as the Majority Banks may direct.

Agent’s Duties. The Agent shall: 16.3.1 promptly notify each Bank of the contents of each notice, certificate or other document received by it from the Borrowers under or pursuant to clauses 8.1.1, 8.1.5 8.1.5, 8.1.6 and 8.1.7; and 16.3.2 (subject to the other provisions of this clause 16) take (or instruct the Security Agent to take) such action or, as the case may be, refrain from taking (or authorise the Security Agent to refrain from taking) such action with respect to the exercise of any of its rights, remedies, powers and discretions as agent, as the Majority Banks may direct.

Agent’s Duties. The Agent shall: 16.3.1 promptly notify each Bank of the contents of each notice, certificate or other document received by it from the Borrowers Borrower under or pursuant to clauses 8.1.1, 8.1.5 and 8.1.7; and 16.3.2 (subject to the other provisions of this clause 16) take (or instruct the Security Agent to take) such action or, as the case may be, refrain from taking (or authorise the Security Agent to refrain from taking) such action with respect to the exercise of any of its rights, remedies, powers and discretions as agent, as the Majority Banks may direct.