Common use of Instructions from Secured Parties Clause in Contracts

Instructions from Secured Parties. Notwithstanding anything express or implied to the contrary in the Collateral Document: (a) remedies and other actions to be taken under the Collateral Document or applicable law with respect to the Collateral shall be directed in writing by the Required Secured Parties (or, in the case of the requests for information and actions to be taken at the direction of the Acting Secured Parties pursuant to Section 5.2, by the Acting Secured Parties); and (b) if any Secured Party does not respond in a timely manner to any notice (including, without limitation, a Notice of Default) from the Collateral Agent or request for instructions within the time period specified by the Collateral Agent in such notice or request for instructions (which shall be a minimum of five Business Days), the Secured Obligations held by such Secured Party which would otherwise be included in a determination of Required Secured Parties or Acting Secured Parties, as applicable, shall not be included in the determination of Required Secured Parties or Acting Secured Parties, as applicable, for purposes of such notice or request for instructions. Any action taken or not taken without the vote of such Secured Party or Secured Parties under this Section 6.4 shall nevertheless be binding on such Secured Party or Secured Parties.

Instructions from Secured Parties. Notwithstanding anything express or implied to the contrary in the Collateral Document: (a) remedies and other actions to be taken under the Collateral Document or applicable law with respect to the Collateral shall be directed in writing by the Required Secured Parties (or, in the case of the requests for information and actions to be taken at the direction of the Acting Secured Parties pursuant to Section 5.2(S)5.2, by the Acting Secured Parties); and (b) if any Secured Party does not respond in a timely manner to any notice (including, without limitation, a Notice of Default) from the Collateral Agent or request for instructions within the time period specified by the Collateral Agent in such notice or request for instructions (which shall be a minimum of five Business Days), the Secured Obligations held by such Secured Party which would otherwise be included in a determination of Required Secured Parties or Acting Secured Parties, as applicable, Parties shall not be included in the determination of Required Secured Parties or Acting Secured Parties, as applicable, Parties for purposes of such notice or request for instructions. Any action taken or not taken without the vote of such Secured Party or Secured Parties under this Section 6.4 (S)6.4 shall nevertheless be binding on such Secured Party or Secured Parties.

Instructions from Secured Parties. Notwithstanding anything express or implied to the contrary in the any Collateral Document: (a) remedies and other actions to be taken under the Collateral Document Documents or applicable law with respect to the Collateral shall be directed in writing by the Required Secured Parties (or, in the case of the requests for information and actions to be taken at the direction of the Acting Secured Parties pursuant to Section 5.2, by the Acting Secured Parties); and (b) if any Secured Party does not respond in a timely manner to any notice (including, without limitation, a Notice of Default) from the Collateral Agent or request for instructions within the time period specified by the Collateral Agent in such notice or request for instructions (which shall be a minimum of five Business Days), the Secured Obligations held by such Secured Party which would otherwise be included in a determination of Required Secured Parties or Acting Secured Parties, as applicable, shall not be included in the determination of Required Secured Parties or Acting Secured Parties, as applicable, for purposes of such notice or request for instructions. Any action taken or not taken without the vote of such Secured Party or Secured Parties under this Section 6.4 (S)6.4 shall nevertheless be binding on such Secured Party or Secured Parties.