Common use of Exercise of Remedies Under Security Documents Clause in Contracts

Exercise of Remedies Under Security Documents. Unless the Agent shall have determined that immediate action is desirable in order to protect the interests of the Lenders, the Agent shall consult with the Lenders before exercising any remedies under the Security Documents and shall (subject to receiving indemnification pursuant to Section 13.7) take such actions with respect thereto as shall be reasonably directed by the Majority Lenders.

Exercise of Remedies Under Security Documents. Unless the Agent shall have determined that immediate action is desirable in order to protect the interests of the Lenders, the Agent shall consult with the Lenders before exercising any remedies under the Security Documents and shall (subject to receiving indemnification pursuant to Section 13.714.7) take such actions with respect thereto as shall be reasonably directed by the Majority Lenders.