Duty to Instruct Sample Clauses

Duty to Instruct. If the Obligations under one of the TEC Note Indenture, the TARC Note Indenture or the New Note Loan Agreement have been accelerated or an Event of Default has occurred or is continuing under the TEC Note Indenture, the TARC Note Indenture or New Note Loan Agreement and the TARC Note Trustee or the New Note Holder, as applicable, has notice thereof, such Trustee shall send written notice thereof to the Collateral Agent and shall instruct the Collateral Agent as to the actions, if any, toward foreclosure on the Shared Collateral that such Trustee deems appropriate in its discretion.
Sample 1
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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.
Sample 1
Duty to Instruct. If the Obligations under one of the TransTexas Note Indenture or the New Note Loan Agreement have been accelerated or an Event of Default has occurred or is continuing under the TransTexas Note Indenture or New Note Loan Agreement and the TransTexas Note Trustee or the New Note Holder, as applicable, has notice thereof, such Trustee shall send written notice thereof to the Collateral Agent and shall instruct the Collateral Agent as to the actions, if any, toward foreclosure on the New Note Collateral that such Trustee deems appropriate in its discretion.
Sample 1

Related to Duty to Instruct

  • Duty to Inform Lessor If Lessee knows, or has reasonable cause to believe, that a Hazardous Substance has come to be located in, on, under or about the Premises, other than as previously consented to by Lessor, Lessee shall immediately give written notice of such fact to Lessor, and provide Lessor with a copy of any report, notice, claim or other documentation which it has concerning the presence of such Hazardous Substance.

  • Duty to Inform Licensee further warrants that it understands the imminent dangers (INCLUDING SERIOUS BODILY INJURY OR DEATH FROM ELECTROCUTION) inherent in the work necessary to make installations on the District’s Poles by Licensee’s employees, agents, contractors or subcontractors, and accepts as its duty and sole responsibility to notify and inform Licensee’s employees, agents, contractors or subcontractors of such dangers, and to keep them informed regarding same.

  • Duty to Notify All new employees will be given at the time of appointment a document detailing the requirements with regards to timely notification of gaining qualifications and timely notification of previous relevant service.

  • Duty to Mitigate Each Party agrees that it has a duty to mitigate damages and covenants that it will use commercially reasonable efforts to minimize any damages it may incur as a result of the other Party’s failure to perform pursuant to this Agreement.

  • Duty to Report Tenant immediately shall report any problems immediately to Landlord. Even a few bedbugs can rapidly multiply to create a major infestation that can spread to other premises. Manager will then be given access to the leased premises for inspection within 24 hours of Tenant being given notice.

  • Duty to Cooperate If the Parties disagree on any aspect of the proposed Motion for Preliminary Approval and/or the supporting declarations and documents, Class Counsel and Defense Counsel will expeditiously work together on behalf of the Parties by meeting in person or by telephone, and in good faith, to resolve the disagreement. If the Court does not grant Preliminary Approval or conditions Preliminary Approval on any material change to this Agreement, Class Counsel and Defense Counsel will expeditiously work together on behalf of the Parties by meeting in person or by telephone, and in good faith, to modify the Agreement and otherwise satisfy the Court’s concerns.

  • Right to Information The City of Xxxxxx reserves the right to use any and all information presented in any response to this contract, whether amended or not, except as prohibited by law. Selection of rejection of the submittal does not affect this right.

  • Reliance on Instruction Action by the Custodian or the Subcustodian in accordance with an Instruction, even when such action conflicts with, or is contrary to any provision of, the Fund's declaration of trust, certificate of incorporation or by-laws, Applicable Law, or actions by the trustees, directors or shareholders of the Fund. If the Custodian or Subcustodian is aware of any of the above, it shall promptly contact an officer of the Fund.

  • FUND ACCOUNTING's Reliance on Instructions and Advice In maintaining the Portfolio's books of account and making the necessary computations FUND ACCOUNTING shall be entitled to receive, and may rely upon, information furnished it by means of Proper Instructions, including but not limited to: a. The manner and amount of accrual of expenses to be recorded on the books of the Portfolio; b. The source of quotations to be used for such securities as may not be available through FUND ACCOUNTING's normal pricing services; c. The value to be assigned to any asset for which no price quotations are readily available; d. If applicable, the manner of computation of the public offering price and such other computations as may be necessary; e. Transactions in portfolio securities; f. Transactions in capital shares. FUND ACCOUNTING shall be entitled to receive, and shall be entitled to rely upon, as conclusive proof of any fact or matter required to be ascertained by it hereunder, a certificate, letter or other instrument signed by an authorized officer of the Fund or any other person authorized by the Fund's Board of Trustees. FUND ACCOUNTING shall be entitled to receive and act upon advice of Counsel for the Fund at the reasonable expense of the Portfolio and shall be without liability for any action taken or thing done in good faith in reliance upon such advice. FUND ACCOUNTING shall be entitled to receive, and may rely upon, information received from the Transfer Agent.

  • Limitation on Duty to Collect Custodian shall not be required to enforce collection, by legal means or otherwise, of any money or property due and payable with respect to Securities held for the Fund if such Securities are in default or payment is not made after due demand or presentation.

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