Common use of Certain Rights of the Collateral Agent Clause in Contracts

Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to request instructions from the Directing Lenders (as defined below) at any time. If the Collateral Agent shall request instructions from the Directing Lenders with respect to any act or action (including the failure to act) in connection with this Agreement, the Collateral Agent shall be entitled to refrain from such act or taking such action unless and until the Collateral Agent shall have received instructions from the Directing Lenders, and the Collateral 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 the Collateral Agent as

Appears in 1 contract

Samples: Borrower Pledge Agreement (Hughes Electronics Corp)

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Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to request instructions from the Directing Lenders (as defined below) at any time. If the Collateral Agent shall request instructions from the Directing Required Lenders with respect to any act action or action actions (including the failure to act) in connection with this Agreement, the Collateral Agent shall be entitled to refrain from such act or taking such action act unless and until the Collateral Agent it shall have received instructions from the Directing such Lenders, and the Collateral 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 the Collateral Agent asas a result of the Collateral 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: Second Lien Term Loan Agreement (Magnum Hunter Resources Corp)

Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to request instructions from the Directing Lenders (as defined below) at any time. If the Collateral Agent shall request instructions from the Directing Required Lenders with respect to any act action or action actions (including the failure to act) in connection with this Agreementthe Loan Documents, the Collateral Agent shall be entitled to refrain from such act or taking such action act, unless and until the Collateral Agent it shall have received instructions from the Directing such Lenders, and the Collateral 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 the Collateral Agent asas a result of the Collateral Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders where required by the terms of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Enterprise Products Partners L P)

Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to request instructions from the Directing Lenders (as defined below) at any time. If the Collateral Agent shall request instructions from the Directing Lenders Majority in Interest of Outstanding Convertible Notes with respect to any act or action (including the failure to act) in connection with this AgreementAgreement or the other Purchase Documents, the Collateral Agent shall be entitled to refrain from such act or taking such action unless and until the Collateral Agent shall have received instructions from the Directing Lenders, Majority in Interest of Outstanding Convertible Notes; and the Collateral Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender Purchaser shall have any right of action whatsoever against the Collateral Agent asas a result of the Collateral Agent acting or refraining from acting hereunder in accordance with the instructions of the Majority in Interest of Convertible Notes.

Appears in 1 contract

Samples: Purchase Agreement (Technology Flavors & Fragrances Inc)

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Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to request instructions from the Directing Majority Lenders (as defined below) at any time. If the Collateral Agent shall request instructions from the Directing Majority Lenders with respect to any act or action (including the failure to act) in connection with this Security Agreement, the Collateral Agent shall be entitled to refrain from such act or taking such action unless and until the Collateral Agent shall have received instructions from the Directing Majority Lenders, and the Collateral 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 the Collateral Agent asas a result of the Collateral Agent acting or refraining from acting hereunder in accordance with the instructions of the Majority Lenders.

Appears in 1 contract

Samples: Vendor Credit Financing Agreement (Hughes Electronics Corp)

Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to request instructions from the Directing Lenders (as defined below) at any time. If the Collateral Agent shall request instructions from the Directing Lenders with respect to any act or action (including the failure to act) in connection with this Agreement, the Collateral Agent shall be entitled to refrain from such act or taking such action unless and until the Collateral Agent shall have received instructions from the Directing Lenders, and the Collateral 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 the Collateral Agent asas a result of the Collateral

Appears in 1 contract

Samples: Borrower Pledge Agreement (Geotek Communications Inc)

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