Common use of Certain Rights of Administrative Agent Clause in Contracts

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any action or actions (including the failure to act) in connection with this Agreement, Administrative Agent shall be entitled to refrain from such act or taking such act unless and until it shall have received instructions from such Lenders, and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have any right of action whatsoever against Administrative Agent as a result of Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this Agreement.

Appears in 3 contracts

Samples: Credit Agreement (Freds Inc), Construction Loan Agreement, Term Loan Agreement

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Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any act or action or actions (including the failure to act) in connection with this AgreementAgreement or any Other Document, Administrative Agent shall be entitled to refrain from such act or taking such act action unless and until it Administrative Agent shall have received instructions from such the Required Lenders, ; and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender Lenders shall not have any right of action whatsoever against Administrative Agent as a result of Administrative Agent its acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this AgreementLenders.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Comforce Corp), Revolving Credit and Security Agreement (Comforce Corp)

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any action or actions (including the failure to act) in connection with this Agreement, Administrative Agent shall be entitled to refrain from such act or taking such act act, unless and until it shall have received instructions from such Lenders, ; and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have any right of action whatsoever against Administrative Agent as a result of Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (KBS Growth & Income REIT, Inc.)

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any action or actions (including the failure to act) in connection with this Agreement, Administrative Agent shall be entitled to refrain from such act or taking such act act, unless and until it shall have received instructions from such Lenders, the Required Lenders (and Administrative Agent shall not incur liability to any Person in its capacity as Administrative Agent by reason of so refraining). Without limiting the foregoing, no Lender shall have any right of action whatsoever against Administrative Agent as a result of Administrative Agent Agent’s acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Zep Inc.)

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders or the Majority Lenders, as the case may be, with respect to any action or actions (including the failure to act) in connection with this Agreement, Administrative Agent shall be entitled to refrain from such act or taking such act unless and until it shall have received instructions from such Lenders, and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have any right of action whatsoever against Administrative Agent as a result of Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders or the Majority Lenders, as the case may be, where required by the terms of this Agreement.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Midstates Petroleum Company, Inc.)

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders (or the Majority Lenders, as the case may be) with respect to any action or actions (including the failure to act) in connection with this Agreement, Administrative Agent shall be entitled to refrain from such act or taking such act unless and until it shall have received instructions from such Lenders, and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have any right of action whatsoever against Administrative Agent as a result of Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders (or the Majority Lenders, as the case may be) where required by the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Midstates Petroleum Company, Inc.)

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any act or action or actions (including the failure to act) in connection with this AgreementAgreement or any Other Document, the applicable Administrative Agent shall be entitled to refrain from such act or taking such act action unless and until it the applicable Administrative Agent shall have received instructions from such Required Lenders, ; and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender Lenders shall not have any right of action whatsoever against the applicable Administrative Agent as a result of Administrative Agent its acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this AgreementLenders.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Asv Holdings, Inc.)

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Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any action or actions (including the failure to act) in connection with this AgreementAgreement or any other Loan Document, Administrative Agent shall be entitled to refrain from such act or taking such act act, unless and until it shall have received instructions from such Lenders, Lend­ers; and Administrative Agent shall not incur liability to any Person by reason rea­son of so refraining. Without limiting the foregoing, no Lender shall have any right of action whatsoever against Administrative Agent as a result of Administrative Agent acting or refraining from acting hereunder in accordance ac­cordance with the instructions of the Required Lenders where required by the terms of this Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Innotrac Corp)

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any act or action or actions (including the failure to act) in connection with this AgreementAgreement or any Other Document, Administrative Agent shall be entitled to refrain from such act or taking such act action unless and until it Administrative Agent shall have received instructions from such Required Lenders, ; and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender Lenders shall not have any right of action whatsoever against Administrative Agent as a result of Administrative Agent its acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this AgreementLenders.

Appears in 1 contract

Samples: Term Loan Credit and Guaranty Agreement (New Enterprise Stone & Lime Co., Inc.)

Certain Rights of Administrative Agent. If Administrative Agent shall request instructions from the Required Lenders with respect to any act or action or actions (including the failure to act) in connection with this AgreementAgreement or any Other Document, the Administrative Agent shall be entitled to refrain from such act or taking such act action unless and until it the Administrative Agent shall have received instructions from such Required Lenders, ; and Administrative Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender Lenders shall not have any right of action whatsoever against the Administrative Agent as a result of Administrative Agent its acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of this AgreementLenders.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Redfin Corp)

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