Common use of No Action without Instructions Clause in Contracts

No Action without Instructions. Neither Agent shall be required to exercise any discretion or take, or to omit to take, any action, including with respect to enforcement or collection, except any action it is required to take or omit to take (i) under any Loan Document or (ii) pursuant to instructions from the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of the Lenders). Each Agent shall be entitled to request and receive written instructions from the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of the Lenders) and shall have no responsibility or liability for any losses or damages of any nature that may arise from any action taken or not taken by such in accordance with the written direction of the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of the Lenders).