Common use of Enforcement Instructions Clause in Contracts

Enforcement Instructions. (a) The Security Agent may refrain from enforcing the security created by a Transaction Security Document unless instructed otherwise by the Majority Lenders. (b) If the Security created by a Transaction Security Document becomes enforceable, the Majority Lenders may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing that security as they see fit. (c) The Security Agent shall, subject to the terms of the Transaction Security Documents, enforce the Security created by a Transaction Security Document in accordance with the instructions of the Majority Lenders. (d) In the absence of instructions, the Security Agent may enforce the security created by a Transaction Security Document as it sees fit having regard first to the interests of the Secured Parties. (e) None of the Security Agent or the Secured Parties is responsible to any Obligor Party for any enforcement or failure to enforce or to maximise the proceeds of any enforcement of the security created by the Transaction Security Documents. The Security Agent or any Secured Party may cease enforcement at any time. (f) The Security Agent is fully protected if it acts on the instructions of the Majority Lenders in the exercise of any right, power or discretion or any matter not expressly provided for in the Transaction Security Documents.

Enforcement Instructions. (a) The Security Facility Agent may refrain from enforcing the security Security Interest created by a Transaction Security Document unless instructed otherwise by the Majority Lenders. (b) If the Security Interest created by a Transaction Security Document becomes enforceable, the Majority Lenders may give or refrain from giving instructions to the Security Facility Agent to enforce or refrain from enforcing that security Security Interest as they see fit. (c) The Security Facility Agent shallmust, subject to the terms of the Transaction relevant Security DocumentsDocument, enforce the Security Interest created by a Transaction that Security Document in accordance with the instructions of the Majority Lenders. (d) In the absence of instructions, the Security Facility Agent may enforce the security Security Interest created by a Transaction Security Document as it sees fit having regard first to the interests of the Secured Finance Parties. (e) None of the Security Facility Agent or the Secured Finance Parties is responsible to any Obligor Party for any enforcement or failure to enforce or to maximise the proceeds of any enforcement of the security created by the Transaction Security Documents. The Security Facility Agent or any Secured Finance Party may cease enforcement at any time. (f) The Security Facility Agent is fully protected if it acts on the instructions of the Majority Lenders in the exercise of any right, power or discretion or any matter not expressly provided for in the Transaction Security Documents.

Enforcement Instructions. (a) The Security Agent Trustee may refrain from enforcing the security created by a Transaction Security Document unless instructed otherwise by the Majority Lenders. (b) If the Security security created by a Transaction Security Document becomes enforceable, the Majority Lenders may give or refrain from giving instructions to the Security Agent Trustee to enforce or refrain from enforcing that security as they see fit. (c) The Security Agent shallTrustee must, subject to the terms of the Transaction Security Documents, enforce the Security created by a Transaction Security Document in accordance with the instructions of the Majority Lenders. (d) In the absence of instructions, the Security Agent Trustee may enforce the security created by a Transaction Security Document as it sees fit having regard first to the interests of the Secured Finance Parties. (e) None of the Security Agent Trustee or the Secured Finance Parties is responsible to any Obligor Party for any enforcement or failure to enforce or to maximise the proceeds of any enforcement of the security created by the Transaction Security Documents. The Security Agent Trustee or any Secured Finance Party may cease enforcement at any time. (f) The Security Agent Trustee is fully protected if it acts on the instructions of the Majority Lenders in the exercise of any right, power or discretion or any matter not expressly provided for in the Transaction Security Documents.