Common use of Reliance; Interpretation Clause in Contracts

Reliance; Interpretation. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon, any note, writing, resolution, notice, statement, certificate, telex, teletype or telescopes message, cablegram, radiogram, order or other document or telephone message signed, sent or made by the proper Person or entity, and, with respect to all legal matters pertaining hereto or to the Security Agreement and its duties thereunder and hereunder, upon advice of counsel selected by it. If, in its good faith judgment, the Collateral Agent reasonably believes that any instructions given or delivered pursuant to the Security Agreement require judicial interpretation or are invalid or otherwise contrary to the provisions of the Security Agreement, any other Secured Debt Agreement or applicable law, the Collateral Agent shall have the right to petition a court of competent jurisdiction to determine the validity of, or otherwise interpret, any such instructions. In such event, the Collateral Agent shall not be required to carry out such instructions unless directed to do so, or it is determined that it may do so, by such court.

Appears in 4 contracts

Samples: Security Agreement (Vertis Inc), Security Agreement (Quality Distribution Inc), Security Agreement (Reynolds American Inc)

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Reliance; Interpretation. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon, any note, writing, resolution, notice, statement, certificate, telex, teletype or telescopes message, cablegram, radiogram, order or other document or telephone message signed, sent or made by the proper Person or entity, and, with respect to all legal matters pertaining hereto or to the Security Agreement Documents and its duties thereunder and hereunder, upon advice of counsel selected by it. If, in its good faith judgment, the Collateral Agent reasonably believes that any instructions given or delivered pursuant to the any Security Agreement Document require judicial interpretation or are invalid or otherwise contrary to the provisions of the any Security AgreementDocument, any other Secured Debt Agreement or applicable law, the Collateral Agent shall have the right to petition a court of competent jurisdiction to determine the validity of, or otherwise interpret, any such instructions. In such event, the Collateral Agent shall not be required to carry out such instructions unless directed to do so, or it is determined that it may do so, by such court.

Appears in 2 contracts

Samples: Security Agreement (Clean Harbors Inc), Security Agreement (Clean Harbors Inc)

Reliance; Interpretation. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon, any note, writing, resolution, notice, statement, certificate, telex, teletype or telescopes message, cablegram, radiogram, order or other document or telephone message signed, sent or made by the proper Person or entity, and, with respect to all legal matters pertaining hereto or to the Security Agreement Documents and its duties thereunder and hereunder, upon advice of counsel selected by it. If, in its good faith judgment, the Collateral Agent reasonably believes that any instructions given or delivered pursuant to the any Security Agreement Document require judicial interpretation or are invalid or otherwise contrary to the provisions of the any Security AgreementDocument, any other Secured Debt Agreement Document or applicable law, the Collateral Agent shall have the right to petition a court of competent jurisdiction to determine the validity of, or otherwise interpret, any such instructions. In such event, the Collateral Agent shall not be required to carry out such instructions unless directed to do so, or it is determined that it may do so, by such court.

Appears in 1 contract

Samples: Pledge and Security Agreement (Paxson Communications Corp)

Reliance; Interpretation. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon, upon any note, writing, resolution, notice, statement, certificate, telex, teletype or telescopes telecopier message, cablegram, radiogram, order or other document or telephone message writing purportedly signed, sent or made by the proper Person or entity, and, with respect to all legal matters pertaining hereto to this Agreement or to the Shared Security Agreement Documents and its duties thereunder hereunder and hereunderthereunder, upon advice of counsel selected by it. If, in its good faith judgment, the Collateral Agent reasonably believes that any instructions given or delivered pursuant to the this Agreement or with respect to any Shared Security Agreement Document require judicial interpretation or are invalid or otherwise contrary to the provisions of the Security this Agreement, any other Secured Debt Agreement the Casino Lease, the Casino Operating Contract, the Shared Security Documents or applicable law, the Collateral Agent shall have the right to petition a court of competent jurisdiction to determine the validity of, or otherwise interpret, any such instructions. In such event, the Collateral Agent shall not be required to carry out such instructions unless directed to do so, or it is determined that it may do so, by such court.

Appears in 1 contract

Samples: Intercreditor Agreement (JCC Holding Co)

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Reliance; Interpretation. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon, upon any note, writing, resolution, notice, statement, certificate, telex, teletype or telescopes telecopier message, cablegram, radiogram, order or other document or telephone message signed, sent or made by the proper Person or entity, and, with respect to all legal matters pertaining hereto to this Agreement or to the Shared Security Agreement Documents and its duties thereunder hereunder and hereunderthereunder, upon advice of counsel selected by it. If, in its good faith judgment, the Collateral Agent reasonably believes that any instructions given or delivered pursuant to the this Agreement or any Shared Security Agreement Document require judicial interpretation or are invalid or otherwise contrary to the provisions of the Security this Agreement, any other Secured Debt Agreement the Casino Lease, the Casino Operating Contract, the Shared Security Documents or applicable law, the Collateral Agent shall have the right to petition a court of competent jurisdiction to determine the validity of, or otherwise interpret, any such instructions. In such event, the Collateral Agent shall not be required to carry out such instructions unless directed to do so, or it is determined that it may do so, by such court.

Appears in 1 contract

Samples: Intercreditor Agreement (JCC Holding Co)

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