Reliance by the Collateral Agent. (a) The Collateral Agent may consult with counsel, and any advice or statements of legal counsel (including, without limitation, counsel to the Borrower or any Grantor) shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder or under any Collateral Document in accordance therewith.
Appears in 2 contracts
Samples: Security Agreement (Pillowtex Corp), Security Agreement (Pillowtex Corp)
Reliance by the Collateral Agent. (a) The Collateral Agent may consult with counsel, and any advice or statements opinion of legal such counsel (including, without limitation, counsel to the Borrower or any Grantor) shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder or under any Collateral Document in accordance therewith. The Collateral Agent shall have the right at any time to seek instructions concerning the administration of the Trust Estate from any court of competent jurisdiction.
Appears in 1 contract
Samples: Intercreditor and Collateral Agency Agreement (Pci Carolina Inc)
Reliance by the Collateral Agent. (a) The Collateral Agent may consult with counsel, and any advice or statements opinion of legal such counsel (including, without limitation, counsel to the Borrower or any Grantor) shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder or under any Collateral Document in accordance therewith.. The Collateral Agent shall have the right at any time to seek instructions concerning the administration of the Trust Estate from any court of competent jurisdiction. 47 47
Appears in 1 contract
Samples: Intercreditor and Collateral Agency Agreement (Pioneer East Inc)
Reliance by the Collateral Agent. (a) The Collateral Agent may consult with counsel, counsel and any advice or statements opinion of legal such counsel (including, without limitation, counsel to the Borrower or any Grantor) shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder or under any Collateral Document in accordance therewith. The Collateral Agent shall have the right at any time to seek instructions concerning the administration of the Trust Estate from any court of competent jurisdiction.
Appears in 1 contract
Samples: Common Security and Intercreditor Agreement (Pioneer Companies Inc)
Reliance by the Collateral Agent. (a) The Collateral Agent may consult with counsel, counsel and any advice or statements of legal such counsel (including, without limitation, counsel to the Borrower or any Grantor) shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder or under any Collateral Document the other Transaction Documents in accordance therewith. The Collateral Agent may rely upon the advice and statements of independent accountants and other experts selected by the Collateral Agent with reasonable care.
Appears in 1 contract
Samples: Security and Intercreditor Agreement (Trenwick America LLC)
