Common use of Irrevocable Authorization and Instruction to Issuer Clause in Contracts

Irrevocable Authorization and Instruction to Issuer. The Pledgor hereby authorizes and instructs each Issuer to comply with any instruction received by it from the Administrative Agent in writing that (a) states that an Event of Default has occurred and (b) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from the Pledgor, and the Pledgor agrees that each Issuer shall be fully protected in so complying.

Appears in 2 contracts

Samples: Credit Agreement (Adelphia Communications Corp), Pledge Agreement (Homeside Lending Inc)

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Irrevocable Authorization and Instruction to Issuer. The Pledgor hereby authorizes and instructs each Issuer to comply with any instruction received by it from the Administrative Agent Secured Party in writing that (a) states that an Event of Default has occurred and (b) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from the Pledgor, and the Pledgor agrees that each Issuer shall be fully protected in so complying.

Appears in 2 contracts

Samples: Stock Pledge Agreement (Richardson Electronics LTD/De), Stock Pledge Agreement (Richardson Electronics LTD/De)

Irrevocable Authorization and Instruction to Issuer. The Pledgor hereby authorizes and instructs each Issuer to comply with any instruction received by it from the Administrative Agent in writing that (a) states that an Event of Default has occurred and (b) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from the Pledgor, and the Pledgor agrees that each Issuer shall be fully protected in so complying.

Appears in 2 contracts

Samples: Credit Agreement (Paxson Communications Corp), Credit and Guarantee Agreement (Warren S D Co /Pa/)

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Irrevocable Authorization and Instruction to Issuer. The Pledgor hereby authorizes and instructs each the Issuer to comply with any instruction received by it from the Administrative Agent in writing that (a) states that an Event of Default has occurred and (b) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from the Pledgor, and the Pledgor agrees that each the Issuer shall be fully protected in so complying.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Warren S D Co /Pa/)

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