Common use of Collateral Agent’s Performance Clause in Contracts

Collateral Agent’s Performance. (a) The Collateral Agent shall: (i) promptly inform each Purchaser of the contents of any written notice or document that, in its capacity as the Collateral Agent, it receives from or delivers to the Company or any governmental authority; (ii) except as otherwise expressly provided in any Transaction Document, perform its duties in accordance with any written instructions given to it by a Purchaser, provided that it shall not be required to take any action that exposes it to personal liability or expense, or for which indemnification deemed sufficient by it in its reasonable discretion has not been provided, or that is contrary to the Transaction Documents or any applicable law; and (iii) if so instructed by any Purchaser in writing, pursuant to the provisions of clause (ii) above, refrain from exercising any right, power, authority or discretion vested in it as the Collateral Agent hereunder or under any other Transaction Document. (b) Except as otherwise expressly provided in this Agreement, the Collateral Agent shall not take any actions other than upon the written instruction of each Purchaser.