Duty to Instruct Sample Clauses

Duty to Instruct. Subject to Section 7.1 and this Section 7.2, if the Collateral Agent is authorized under any Security Document to request instructions from the Trustee, on behalf of the holders of Senior Secured Notes, or any other Secured Creditor as to whether or not to take any action toward enforcement of any Security Document, the Trustee and such other Secured Creditors may, but shall not be obligated to, give such instructions, subject to the terms of the applicable Debt Instruments. If an Event of Default has occurred and is continuing under any Debt Instrument, and the First Priority Majority Secured Creditors have given instructions pursuant to Section 7.1 hereof in connection therewith, such First Priority Majority Secured Creditors shall continue to specifically instruct the Collateral Agent as to the actions that should be taken by the Collateral Agent, if any, toward foreclosure or otherwise on the Collateral that such First Priority Majority Secured Creditors deem appropriate in their discretion or as requested by the Collateral Agent. In no event shall any Secured Creditor direct the exercise by the Collateral Agent of any remedy which would result in the discharge of any of the Secured Obligations by reason of any anti-deficiency statute or law relating to sales of Collateral other than through judicial proceedings.