Common use of Lenders’ instructions Clause in Contracts

Lenders’ instructions. (a) Unless a contrary indication appears in a Finance Document, each Servicing Party shall: (i) exercise any right, power, authority or discretion vested in it as Servicing Agent in accordance with any instructions given to it by the Lenders (or, if so instructed by the Lenders, refrain from exercising any right, power, authority or discretion vested in it as Agent or the Security Trustee); and (ii) not be liable for any act (or omission) if it acts (or refrains from taking any action) in accordance with an instruction of the Lenders. (b) Unless a contrary indication appears in a Finance Document, any instructions given by the Lenders will be binding on all the Finance Parties. (c) Each Servicing Party may refrain from acting in accordance with the instructions of the Lenders (or, if appropriate, the Lenders) until it has received such security as it may require for any cost, loss or liability (together with any associated VAT) which it may incur in complying with the instructions. (d) In the absence of instructions from the Lenders (or, if appropriate, the Lenders), each Servicing Party may act (or refrain from taking action) as it considers to be in the best interest of the Lenders. (e) The Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender's consent) in any legal or arbitration proceedings relating to any Finance Document.

Lenders’ instructions. (a) Unless a contrary indication appears in a Finance Document, each Servicing Party the Agents shall: (i) exercise any right, power, authority or discretion vested in it as Servicing Agent Agents in accordance with any instructions given to it by the Lenders (or, if so instructed by the Lenders, refrain from exercising any right, power, authority or discretion vested in it as Agent or the Security TrusteeAgents); and (ii) not be liable for any act (or omission) if it acts (or refrains from taking any action) in accordance with an instruction of the Lenders. (b) Unless a contrary indication appears in a Finance Document, any instructions given by the Lenders will be binding on all the Finance Parties. (c) Each Servicing Party The Agents may refrain from acting in accordance with the instructions of the Lenders (or, if appropriate, the Lenders) until it has received such security as it may require for any cost, loss or liability (together with any associated VAT) which it may incur in complying with the instructions. (d) In the absence of instructions from the Lenders Lenders, (or, if appropriate, the Lenders), each Servicing Party ) the Agents may act (or refrain from taking action) as it considers they consider to be in the best interest of the Lenders. (e) The Agent is Agents are not authorised to act on behalf of a Lender (without first obtaining that Lender's ’s consent) in any legal or arbitration proceedings relating to any Finance Document.