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, the Term Lenders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be a Term Loan Agent and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be 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 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 a Term Loan Agent and, after the date on which all 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, 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, a Term Loan Agent or 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)

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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, the Term Lenders’ each Additional Senior Secured Debt Holder’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be a Term Loan Agent 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 its applicable 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, a Term Loan Agent any Additional Senior Secured Debt Representative or any 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 a Term Loan Agent any Additional Senior Secured Debt Representative and, after the date on which all Note/Term 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, a Term Loan 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, a Term Loan Agent Trustee or any 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.)

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, the Term Lenders’ each Additional Secured Debt Holder’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be a Term Loan Agent the applicable Additional Secured Debt Representative and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be its applicable 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, a Term Loan Agent any Additional Secured Debt Representative or any 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 a Term Loan Agent any Additional Secured Debt Representative and, after the date on which all Note/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, a Term Loan any Additional Secured Debt Agreement and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the TrusteeBridge Loan Agent, a Term Loan Agent the Trustee or any 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)

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, the Term Lenders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be a Term Loan Agent and each Swap CreditorAdditional Senior Secured Debt Holder’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be its the applicable Swap Additional Senior Secured Debt 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 Swap Additional Senior Secured Debt 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 a Term Loan Agent and, after the date on which all Note/Term Obligations have been paid in full and all commitments (if any) with respect thereto have been terminated, the Swap Representative, as required any Additional Senior Secured Debt Representative or permitted by the Indenture, a Term Loan Agreement Indenture and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the Trustee, a Term Loan Agent or any Swap Representative, as applicable, unless it is a signatory party theretoAdditional Senior Secured Debt Agreement.

Appears in 1 contract

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

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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, the Term Lenders’ representative for purposes of delivering notices and instructions to the Collateral Agent shall be a Term Loan Agent and each Swap Creditor’s representative for purposes of delivering notices and instructions to the Collateral Agent shall be 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 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 a Term Loan Agent and, after the date on which all 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, a Term Loan Credit Agreement and the Swap Agreements. No instruction of the Directing Creditors shall be effective to impose any obligation or liability upon the Trustee, a Term Loan Agent or any Swap Representative, as applicable, unless it is a signatory party thereto.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Duane Reade)

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