Common use of Refusal to Act Clause in Contracts

Refusal to Act. The Collateral Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Collateral Agent's opinion, (i) is contrary to law or the provisions of any Security Document or at such times as the Intercreditor Agreement may be in effect, the Intercreditor Agreement or (ii) may expose the Collateral Agent to liability (unless the Collateral Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction).

Refusal to Act. The Collateral Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Collateral Agent's ’s opinion, (i) is contrary to law or the provisions of any Security Document or at such times as the Intercreditor Agreement may be in effectDocument, the Intercreditor Agreement or (ii) may expose the Collateral Agent to personal liability or (unless the Collateral Agent shall have been indemnified, iii) is unduly prejudicial to its reasonable satisfaction, for such liability by the Secured Parties that gave not joining in such notice, consent, direction or instruction).

Refusal to Act. The Collateral Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties either Agent or any agent, trustee or similar representative thereof that, in the Collateral Agent's ’s opinion, (i) is contrary to law or the provisions of any Security Document or at such times as the Intercreditor Agreement may be in effectDocument, the Intercreditor Agreement or (ii) may expose the Collateral Agent to liability (unless the Collateral Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave Lender), or (iii) is unduly prejudicial to the Agent or Lenders not joining in such notice, consent, direction or instruction).

Refusal to Act. The Collateral Agent may refuse to act take action on any notice, consent, direction direction, or instruction from any the Company or the Secured Parties or any agent, trustee or similar representative thereof Party that, in the Collateral Agent's ’s opinion, (ia) is contrary to law or the provisions of any Security Document the Note or at such times as the Intercreditor Agreement may be in effect, the Intercreditor this Agreement or (iib) may expose the Collateral Agent to liability (unless the Collateral Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave party requesting the Collateral Agent to take such notice, consent, direction or instructionaction).

Refusal to Act. The Collateral Agent may refuse to act on any notice, consent, direction or instruction from the Trustee or any Secured Parties or any agent, trustee or similar representative thereof thatParties, in the Collateral Agent's ’s opinion, (i) is contrary to law or the provisions of any Security Document or at such times as the Intercreditor Agreement may be in effectDocument, the Intercreditor Agreement or (ii) may expose the Collateral Agent to liability (unless the Collateral Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction)) or (iii) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.

Refusal to Act. The Collateral Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties Party or any agent, trustee or similar representative thereof that, in the Collateral Agent's ’s opinion, (i) is contrary to law or the provisions of any Security Document or at such times as the Intercreditor Agreement may be in effectDocument, the Intercreditor Agreement or (ii) may expose the Collateral Agent to liability (unless the Collateral Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the such Secured Parties that gave Party) or (iii) is unduly prejudicial to any Secured Party not joining in such notice, consent, direction or instruction).