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. 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
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

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 MP will promptly inform AOL of any information related to the Affiliated MP Site which could reasonably lead to a claim, demand, or liability of or against AOL and/or its affiliates by any third party.

  • Duty to Inform Landlord If Tenant knows, or has reasonable cause to believe, that a Hazardous Substance is located in, under or about the Premises or the Building, Tenant shall immediately give Landlord written notice thereof, together with a copy of any statement, report, notice, registration, application, permit, business plan, license, claim, action, or proceeding given to, or received from, any governmental authority or private party concerning the presence, spill, release, discharge of, or exposure to, such Hazardous Substance. Tenant shall not cause or permit any Hazardous Substance to be spilled or released in, on, under or about the Premises (including, without limitation, through the plumbing or sanitary sewer system).

  • Duty to Notify During the Term of this Agreement, in the event that Executive shall become aware of any business opportunity related to the business of the Company, Executive shall promptly notify the Board of Directors of such opportunity. Executive shall not appropriate for himself or for any other Person other than the Company (or any Affiliate) any such opportunity unless, as to any particular opportunity, the Board of Directors fails to take appropriate action within thirty (30) days. Executive's duty to notify the Board of Directors and to refrain from appropriating all such opportunities for thirty (30) days shall neither be limited by, nor shall such duty limit, the application of the general laws relating to the fiduciary duties of an agent or employee.

  • 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 performance or non-performance of 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 Upon the terms and subject to the conditions and other agreements set forth herein, each party agrees to use its commercially reasonable efforts to take, or cause to be taken, all actions, and to do, or cause to be done, and to assist and cooperate with the other party in doing, all things necessary or advisable to perform the transactions contemplated by this Agreement.

  • Failure to Enforce Not a Waiver The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.

  • Right to Information 2.1 For the purpose of exercising the Entrusted Rights hereunder, the Entrusted Persons are entitled to know various relevant information of the Company such as those in respect of its operation, business, customers, finance and employees, and shall have access to the relevant documentations and materials of the Company. The Company shall fully cooperate with the Entrusted Persons in this regard.

  • Duty to Update Disclosure The Owner Trustee will notify and provide information, and certify such information in an Officer’s Certificate, to the Depositor upon any event or condition relating to the Owner Trustee or actions taken by the Owner Trustee that (A) (i) is required to be disclosed by the Depositor under Item 2 (the institution of, material developments in, or termination of legal proceedings against U.S. Bank Trust National Association that are material to Noteholders) of Form 10-D under the Exchange Act within five days of such occurrence or (ii) the Depositor reasonably requests of the Owner Trustee that the Depositor, in good faith, believes is necessary to comply with Regulation AB within five days of request or (B) (i) is required to be disclosed under Item 6.02 (resignation, removal, replacement or substitution of U.S. Bank Trust National Association as Owner Trustee) of Form 8-K under the Exchange Act within two days of a Responsible Person of the Owner Trustee becoming aware of such occurrence or (ii) causes the information provided by the Owner Trustee in any certificate delivered by a Responsible Person of the Owner Trustee to be untrue or incorrect in any material respect or is necessary to make the statements provided by the Owner Trustee in light of the circumstances in which they were made not misleading within five days of a Responsible Person of the Owner Trustee becoming aware thereof. The obligations of the Owner Trustee to provide such information with respect to the period during which it served as Owner Trustee will survive the resignation or removal of the Owner Trustee under the Agreement.

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