Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by the Majority Lenders. (b) Subject to the Transaction Security having become enforceable in accordance with its terms the Majority Lenders may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit. (c) The Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 27.1.
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Samples: Facility Agreement, Facility Agreement (Teekay Corp), Facility Agreement (Teekay LNG Partners L.P.)
Enforcement Instructions. (aA) The Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by the Majority LendersInstructing Group.
(bB) Subject to the Transaction Security having become enforceable in accordance with its the terms of the Majority Lenders Security Documents the Instructing Group may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit.
(cC) The Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 27.18.2 (Enforcement Instructions).
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Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by the Majority Lenders.
(b) Subject to the Transaction Security having become enforceable in accordance with its terms terms, the Majority Lenders may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit.
(c) The Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 27.1clause 35.1.
Appears in 1 contract
Samples: Facility Agreement (Danaos Corp)
Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by the Majority LendersExternal Creditors.
(b) Subject to the Transaction Security having become enforceable in accordance with its terms the The Majority Lenders External Creditors may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit.
(c) The Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 27.110.2.
Appears in 1 contract
Samples: Intercreditor Agreement
Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by the Majority Lenders.
(b) Subject to the Transaction Security having become enforceable in accordance with its terms terms, the Majority Lenders may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit.
(c) The Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 27.1clause 35.1.
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Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security unless unless, subject to the Security Agent’s right to indemnification, instructed otherwise by the Majority Lenders.
(b) Subject to the Transaction Security having become enforceable in accordance with its terms terms, the Majority Lenders may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit.
(c) The Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 27.1.
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