Common use of Agreement of Applicable Lenders Clause in Contracts

Agreement of Applicable Lenders. Upon any occasion requiring or permitting an approval, consent, waiver, election or other action on the part of the Applicable Lenders, action shall be taken by the Agent for and on behalf or for the benefit of all Lenders upon the direction of the Applicable Lenders, and any such action shall be binding on all Lenders. No amendment, modification, consent, or waiver shall be effective except in accordance with the provisions of Section 9.3. Upon the occurrence of an Event of Default, the Agent shall take such action with respect thereto as may be reasonably directed by the Applicable Lenders; provided that unless and until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action as they shall deem advisable in the best interests of the Lenders. In no event shall the Agent be required to comply with any such directions to the extent that the Agent believe that the Agent’s compliance with such directions would be unlawful.

Agreement of Applicable Lenders. Upon any occasion requiring or permitting an approval, consent, waiver, election or other action on the part of the Applicable Lenders, action shall be taken by the Agent Agents for and on behalf or for the benefit of all Lenders upon the direction of the Applicable Lenders, and any such action shall be binding on all Lenders. No amendment, modification, consent, or waiver shall be effective except in accordance with the provisions of Section 9.3. Upon the occurrence of an Event of Default, the Agent Agents shall take such action with respect thereto as may be reasonably directed by the Applicable Lenders; provided that unless and until the Agent Agents shall have received such directions, the Agent Agents may (but shall not be obligated to) take such action as they shall deem advisable in the best interests of the Lenders. In no event shall the Agent Agents be required to comply with any such directions to the extent that the Agent Agents believe that the Agent’s Agents’ compliance with such directions would be unlawful.

Agreement of Applicable Lenders. (a) Upon any occasion requiring or permitting an approval, consent, waiver, election or other action on the part of only the Applicable Lenders, action shall be taken by the Agent Agents for and on behalf or for the benefit of all Lenders upon the direction of the Applicable Lenders, and any such action shall be binding on all Lenders. No amendment, modification, consent, or waiver shall be effective except in accordance with the provisions of Section 9.3. SECTION 9.2. (b) Upon the occurrence of an Event of Default, the Agent Agents shall take such action with respect thereto as may be reasonably directed by the Applicable Required Lenders; provided provided, that unless and until the Agent Agents shall have received such directions, the Agent Agents may (but shall not be obligated to) take such action as they shall deem advisable in the best interests of the Lenders. In no event shall the Agent Agents be required to comply with any such directions to the extent that the Agent Agents believe that the Agent’s Agents’ compliance with such directions would be unlawful.