Common use of Instructions from Lenders Clause in Contracts

Instructions from Lenders. The Agent shall have the right to request instructions from the Required Lenders by notice to each of the Lenders. If the Agent shall request instructions from the Lenders with respect to any act or action (including the failure to act) in connection with this Loan Agreement, the Agent shall be entitled to refrain from such act or taking such action unless and until the Agent shall have received instructions from the Required Lenders, and the Agent shall not incur liability to any Person by reason of so refraining. No Lender shall have any right of action against the Agent as a result of the Agent acting or refraining from acting in accordance with the instructions of the Required Lenders.

Appears in 1 contract

Samples: Loan Agreement (Citadel License Inc)

AutoNDA by SimpleDocs

Instructions from Lenders. The Agent shall have the right right, but, unless otherwise expressly provided herein, not the obligation, to request instructions from the Required Lenders by notice to each of the Lenders. If the Agent shall request instructions from the Lenders with respect to any act or action (including the failure to act) in connection with this Loan Agreement, the Agent shall be entitled to refrain from such act or taking such action unless and until the Agent shall have received instructions from the Required Lenders, and the Agent shall not incur liability to any Person by reason of so refraining. No Lender shall have any right of action against the Agent as a 66 result of the Agent acting or refraining from acting in accordance with the instructions of the Required Lenders.

Appears in 1 contract

Samples: Loan Agreement (Spartan Stores Inc)

Instructions from Lenders. The Agent shall have the right to request instructions from the Required Lenders by notice to each of the Lenders. If the Agent shall request instructions from the Lenders with respect to any act or action (including the failure to act) in connection with this Loan Agreement, the Agent shall be entitled to refrain from such act or taking such action unless and until the Agent shall have received instructions from the Lenders or the Required Lenders, as applicable, and the Agent shall not incur liability to any Person by reason of so refraining. No Lender shall have any right of action against the Agent as a result of the Agent acting or refraining from acting in accordance with the instructions of the Lenders or the Required Lenders, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Security Associates International Inc)

AutoNDA by SimpleDocs

Instructions from Lenders. The Agent shall have the right to request ------------------------- instructions from the Required Lenders by notice to each of the Lenders. If the Agent shall request instructions from the Lenders with respect to any act or action (including the failure to act) in connection with this Loan Agreement, the Agent shall be entitled to refrain from such act or taking such action unless and until the Agent shall have received instructions from the Lenders or the Required Lenders, as applicable, and the Agent shall not incur liability to any Person by reason of so refraining. No Lender shall have any right of action against the Agent as a result of the Agent acting or refraining from acting in accordance with the instructions of the Lenders or the Required Lenders, as applicable.

Appears in 1 contract

Samples: Loan Agreement (Red Robin Gourmet Burgers Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!