Common use of Solicitation of Instructions Clause in Contracts

Solicitation of Instructions. (a) The Collateral Agent may at any time solicit written confirmatory instructions, in the form of an Act of Required Secured Parties, an Officers’ Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement or the other Security Documents and may refrain from taking action until such instruction or court order are received by it. (b) No written direction given to the Collateral Agent by an Act of Required Secured Parties that in the sole judgment of the Collateral Agent imposes, purports to impose or might reasonably be expected to impose upon the Collateral Agent any obligation or liability not set forth in or arising under this Agreement and the other Security Documents will be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept such direction.

Appears in 2 contracts

Samples: Parity Lien Intercreditor Agreement, Parity Lien Intercreditor Agreement (Constellium N.V.)

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Solicitation of Instructions. (a) The Collateral Agent may at any time solicit written confirmatory instructions, in the form of an Act of Required Secured Partiesa Securityholder Instruction, an Officers’ Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement or the other Security Documents and may refrain from taking Operative Agreements, the Collateral Agent shall not be liable with respect to any action until such instruction it takes or court order are omits to take in good faith in accordance with a direction received by itit pursuant to the terms of this Agreement. (b) No written direction given to the Collateral Agent by an Act of Required Secured Parties a Securityholder Instruction that in the sole judgment of the Collateral Agent imposes, purports to impose or might reasonably be expected to impose upon the Collateral Agent any obligation or liability not set forth in or arising under this Agreement and the other Security Documents Operative Agreements will be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept such direction.

Appears in 2 contracts

Samples: Security and Collateral Agency Agreement, Security and Collateral Agency Agreement (Expressjet Holdings Inc)

Solicitation of Instructions. (a) The Collateral Agent may at any time solicit and conclusively rely upon (if relied upon in good faith) written confirmatory instructions, in the form of an Act of Required Secured PartiesDebtholders, an Officers’ Officer’s Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement or the other any Security Documents and may refrain from taking action until such instruction or court order are received by itDocument. (b) No written direction given to the Collateral Agent by an Act of Required Secured Parties Debtholders that in the sole judgment of the Collateral Agent imposes, purports to impose or might reasonably be expected to impose upon the Collateral Agent any obligation or liability not set forth in or arising under this Agreement and or the other Security Documents will be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept such direction.

Appears in 1 contract

Samples: Collateral Trust Agreement (ICO Global Communications (Holdings) LTD)

Solicitation of Instructions. (a) The Collateral Agent may at any time solicit and conclusively rely upon (if relied upon in good faith) written confirmatory instructions, in the form of an Act of Required Secured PartiesDebtholders, an Officers’ Officer's Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement or the other any Security Documents and may refrain from taking action until such instruction or court order are received by itDocument. (b) No written direction given to the Collateral Agent by an Act of Required Secured Parties Debtholders that in the sole judgment of the Collateral Agent imposes, purports to impose or might reasonably be expected to impose upon the Collateral Agent any obligation or liability not set forth in or arising under this Agreement and or the other Security Documents will be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept such direction.

Appears in 1 contract

Samples: Collateral Trust and Intercreditor Agreement (Delta Energy Center, LLC)

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Solicitation of Instructions. Notwithstanding any provision of this Agreement or any other Priority Lien Document: (a) The Collateral Agent may at any time solicit written confirmatory instructions, in the form of an Act of Required Secured Partiesa direction by the Controlling Priority Lien Representative, an Officers’ Officer’s Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement or the other Security Documents and may refrain from taking action until such instruction or court order are received by itInstruments. (b) No written direction given to the Collateral Agent by an Act of Required Secured Parties the Controlling Priority Lien Representative that in the sole judgment of the Collateral Agent imposes, purports to impose or might reasonably be expected to impose upon the Collateral Agent any obligation or liability not set forth in or arising under this Agreement and the other Security Documents Instruments will be binding upon the Collateral Agent unless the Collateral Agent elects, at its sole option, to accept such direction.

Appears in 1 contract

Samples: Collateral Agency Agreement (Grizzly Energy, LLC)

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