Common use of Instructions from a Majority in Interest of Lenders Clause in Contracts

Instructions from a Majority in Interest of Lenders. Except as provided in Sections 2.5, 10.2 and 11.1 hereof or in Section 7.1 of the Mortgage, upon the written instructions at any time and from time to time of a Majority in Interest of the Lenders, Security Agent shall take such of the following actions as shall be specified in such instructions: (a) give such notice or direction or take any discretionary action which it is entitled to take or exercise such right, remedy, or power under any of the Operative Agreements as shall be specified in such instructions, (b) approve as satisfactory to Security Agent all matters required by any of the Operative Agreements to be satisfactory to Security Agent, and (c) enter into any amendment, modification or supplement of any of the Operative Agreements or grant consents, waivers or approvals requested by Borrower under any of the Operative Agreements. Adequate opportunity, in the particular circumstances, shall be afforded the Lenders to give or to withhold the instructions referred to in the preceding sentence.

Appears in 5 contracts

Samples: Loan Agreement (Airtran Holdings Inc), Loan Agreement (Airtran Holdings Inc), Loan Agreement (Airtran Holdings Inc)

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