Reliance on action of Agent. However, the Borrower and each Security Party: (a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and (b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 29 contracts
Samples: Loan Agreement, Loan Agreement (Paragon Shipping Inc.), Amending and Restating Agreement (Paragon Shipping Inc.)
Reliance on action of Agent. However, the each Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 12 contracts
Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Global Ship Lease, Inc.), Amending and Restating Agreement (Poseidon Containers Holdings Corp.)
Reliance on action of Agent. However, the The Borrower and each Security Party:
(a) Party shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 5 contracts
Samples: Loan Agreement (Euroseas Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.)
Reliance on action of Agent. However, the Borrower Borrowers and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 4 contracts
Samples: Loan Agreement (Dynagas LNG Partners LP), Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.)
Reliance on action of Agent. However, the Borrower The Borrowers and each Security Party:
(a) Party shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 2 contracts
Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)
Reliance on action of Agent. However, the Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement (StealthGas Inc.)
Reliance on action of Agent. However, the either Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)
Reliance on action of Agent. However, the Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders or all the Lenders as the case may be have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 1 contract
Reliance on action of Agent. However, the Borrower Borrowers and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 1 contract
Reliance on action of Agent. However, the each Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.of
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Reliance on action of Agent. However, the The Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders (or all the Lenders as the case requires) have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 1 contract
Reliance on action of Agent. However, the any Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 1 contract
Reliance on action of Agent. However, the Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance DocumentDocument (other than the Master Agreement), is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 1 contract
Reliance on action of Agent. However, the each Borrower and each Security Party:
(a) shall be entitled to assume that the Majority Lenders have duly given any instruction or authorisation which, under any provision of a Finance Document, is required in relation to any action which the Agent has taken or is about to take; and
(b) shall not be entitled to require any evidence that such an instruction or authorisation has been given.
Appears in 1 contract
