Common use of Instructions of Directing Creditors Clause in Contracts

Instructions of Directing Creditors. Subject to the terms and conditions of this Agreement, the Collateral Agent shall follow the instructions of the Directing Creditors from time to time conveyed to it by the representative or representatives of one or more Credit Classes pursuant to this Agreement, subject to and consistent with the Collateral Agent’s rights and obligations expressed in the Collateral Documents and in accordance with applicable law. The Noteholders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Trustee, each Additional Senior Secured Debt Holder’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the applicable Additional Senior Secured Debt Representative and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Swap Representative. The Collateral Agent shall disregard notices and instructions from any other Person in respect of the applicable Credit Class. No direction given to the Collateral Agent (whether given by the Directing Creditors through the representative or representatives of the applicable Credit Classes or by the Trustee, any Additional Senior Secured Debt Representative or the Swap Representative or otherwise by any Person) which imposes, or purports to impose, upon the Collateral Agent any obligation not set forth in this Agreement or any other Collateral Document shall be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept direction (i) pursuant to the instructions of the Directing Creditors or (ii) from the Trustee or any Additional Senior Secured Debt Representative and, after the date on which all Notes Priority Lien Debt Obligations have been paid in full and all commitments (if any) with respect thereto have been terminated, the Swap Representative, as required or permitted by the Indenture, any Additional Senior Secured Debt Agreement and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the Trustee or the Swap Representative, as applicable, unless it is a signatory party thereto.

Appears in 2 contracts

Samples: Intercreditor and Collateral Agency Agreement, Intercreditor and Collateral Agency Agreement (Am-Pac Tire Dist. Inc.)

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Instructions of Directing Creditors. Subject to the terms and conditions of this Agreement, the Collateral Agent shall follow the instructions of the Directing Creditors from time to time conveyed to it by the representative or representatives of one or more Credit Classes pursuant to this Agreement, subject to and consistent with the Collateral Agent’s rights and obligations expressed in the Collateral Documents and in accordance with applicable law. The Noteholders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Trustee, each Additional Senior Secured Debt Holder’s the Term Lenders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the applicable Additional Senior Secured Debt Representative a Term Loan Agent and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the its applicable Swap Representative. The Collateral Agent shall disregard notices and instructions from any other Person in respect of the applicable Credit Class. No direction given to the Collateral Agent (whether given by the Directing Creditors through the representative or representatives of the applicable Credit Classes or by the Trustee, a Term Loan Agent or any Additional Senior Secured Debt Representative or the Swap Representative or otherwise by any Person) which imposes, or purports to impose, upon the Collateral Agent any obligation not set forth in this Agreement or any other Collateral Document shall be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept direction (i) pursuant to the instructions of the Directing Creditors or (ii) from the Trustee or any Additional Senior Secured Debt Representative a Term Loan Agent and, after the date on which all Notes Priority Lien Debt Note/Term Obligations have been paid in full and all commitments (if any) with respect thereto have been terminated, the Swap Representative, as required or permitted by the Indenture, any Additional Senior Secured Debt a Term Loan Agreement and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the Trustee Trustee, a Term Loan Agent or the any Swap Representative, as applicable, unless it is a signatory party thereto.

Appears in 2 contracts

Samples: Intercreditor and Collateral Agency Agreement, Intercreditor and Collateral Agency Agreement (Duane Reade Holdings Inc)

Instructions of Directing Creditors. Subject to the terms and conditions of this Agreement, the Collateral Agent shall follow the instructions of the Directing Creditors from time to time conveyed to it by the representative or representatives of one or more Credit Classes pursuant to this Agreement, subject to and consistent with the Collateral Agent’s rights and obligations expressed in the Collateral Documents and in accordance with applicable law. The Noteholders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Trustee, each Additional Senior Secured Debt Holder’s the Term Lenders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the applicable Additional Senior Secured Debt Representative a Term Loan Agent and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the its applicable Swap Representative. The Collateral Agent shall disregard notices and instructions from any other Person in respect of the applicable Credit Class. No direction given to the Collateral Agent (whether given by the Directing Creditors through the representative or representatives of the applicable Credit Classes or by the Trustee, a Term Loan Agent or any Additional Senior Secured Debt Representative or the Swap Representative or otherwise by any Person) which imposes, or purports to impose, upon the Collateral Agent any obligation not set forth in this Agreement or any other Collateral Document shall be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept direction (i) pursuant to the instructions of the Directing Creditors or (ii) from the Trustee or any Additional Senior Secured Debt Representative a Term Loan Agent and, after the date on which all Notes Priority Lien Debt Note/Term Obligations have been paid in full and all commitments (if any) with respect thereto have been terminated, the Swap Representative, as required or permitted by the Indenture, any Additional Senior Secured Debt a Term Credit Agreement and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the Trustee Trustee, a Term Loan Agent or the any Swap Representative, as applicable, unless it is a signatory party thereto.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Duane Reade)

Instructions of Directing Creditors. Subject to the terms and conditions of this Agreement, the Collateral Agent shall follow the instructions of the Directing Creditors from time to time conveyed to it by the representative or representatives of one or more Credit Classes pursuant to this Agreement, subject to and consistent with the Collateral Agent’s rights and obligations expressed in the Collateral Documents and in accordance with applicable law. The Bridge Lenders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Bridge Loan Agent, the Noteholders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Trustee, each Additional Senior Secured Debt Holder’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the applicable Additional Senior Secured Debt Representative and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Swap Representative. The Collateral Agent shall disregard notices and instructions from any other Person in respect of the applicable Credit Class. No direction given to the Collateral Agent (whether given by the Directing Creditors through the representative or representatives of the applicable Credit Classes or by the Bridge Loan Agent, the Trustee, any Additional Senior Secured Debt Representative or the Swap Representative or otherwise by any Person) which imposes, or purports to impose, upon the Collateral Agent any obligation not set forth in this Agreement or any other Collateral Document shall be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept direction (i) pursuant to the instructions of the Directing Creditors or (ii) from the Bridge Loan Agent or the Trustee or any Additional Senior Secured Debt Representative and, after the date on which all Notes Priority Lien Term Debt Obligations have been paid in full and all commitments (if any) with respect thereto have been terminated, the Swap Representative, as required or permitted by the Bridge Loan, the Indenture, any Additional Senior Secured Debt Agreement and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the Bridge Loan Agent, the Trustee or the Swap Representative, as applicable, unless it is a signatory party thereto.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Apria Healthcare Group Inc)

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Instructions of Directing Creditors. Subject to the terms and conditions of this Agreement, the Collateral Agent shall follow the instructions of the Directing Creditors from time to time conveyed to it by the representative or representatives of one or more Credit Classes pursuant to this Agreement, subject to and consistent with the Collateral Agent’s rights and obligations expressed in the Collateral Documents and in accordance with applicable law. The Noteholders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Trustee, each Additional Senior Secured Debt Holder’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the applicable Additional Senior Secured Debt Representative and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be the Swap Representative. The Collateral Agent shall disregard notices and instructions from any other Person in respect of the applicable Credit Class. No direction given to the Collateral Agent (whether given by the Directing Creditors through the representative or representatives of the applicable Credit Classes or by the Trustee, any Additional Senior Secured Debt Representative or the Swap Representative or otherwise by any Person) which imposes, or purports to impose, upon the Collateral Agent any obligation not set forth in this Agreement or any other Collateral Document shall be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept direction (i) pursuant to the instructions of the Directing Creditors or (ii) from the Trustee or any Additional Senior Secured Debt Representative and, after the date on which all Notes Priority Lien Debt Obligations have been paid in full and all commitments (if any) with respect thereto have been terminated, the Swap Representative, as required or permitted by the Indenture, Indenture and any Additional Senior Secured Debt Agreement and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the Trustee or the Swap Representative, as applicable, unless it is a signatory party theretoAgreement.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Dominion Textile (Usa), L.L.C.)

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