Written Instructions; Notices. (a) Notwithstanding anything in this Agreement, the Credit Agreement or any other Financing Document to the contrary, the Accounts Bank shall have no obligation to (i) make any payment, transfer or withdrawal from any Project Account until it has received written direction to make such payment, transfer or withdrawal from the Lender or, to the extent expressly provided in this Agreement or otherwise with the Lender’s written confirmation, the Borrower or (ii) determine whether any payment, transfer or withdrawal from any Project Account made in accordance with any written direction from the Lender or the Borrower complies with the terms of this Agreement, the Credit Agreement or any other Financing Document. The Accounts Bank shall have no liability for, nor any responsibility or obligation to confirm, the use or application by the Borrower, the Lender or any other recipient of amounts withdrawn or transferred from any Project Account. (b) Except as otherwise provided in this Agreement, the Accounts Bank shall take action under this Agreement only as it shall be directed in writing by the Lender. In each case that the Accounts Bank may or is required to take any action (an “Accounts Bank Action”), including without limitation to make any determination or judgment, to give consents, to exercise rights, powers or remedies or otherwise to act hereunder, the Accounts Bank may seek direction from the Lender and shall be entitled to refrain from such the Accounts Bank Action unless and until it has received such direction and security or indemnity satisfactory to the Accounts Bank and shall not incur any liability to any Person by reason of so refraining.
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Samples: Accounts Agreement (Bloom Energy Corp), Accounts Agreement (Bloom Energy Corp)
Written Instructions; Notices. (a) Notwithstanding anything in this Accounts Agreement, the Credit Agreement or Agreement, any other Financing Document or any Subordinated Debt Document to the contrary, the Accounts Bank shall have no obligation to (i) make any payment, transfer or withdrawal from any Project Account until it has received written direction to make such payment, transfer or withdrawal from the Lender or, to the extent expressly provided in this Agreement or otherwise with the Lender’s written confirmationAdministrative Agent, the Collateral Agent or the Borrower as set forth herein or (ii) determine whether any payment, transfer or withdrawal from any Project Account made in accordance with any written direction from the Lender Administrative Agent, the Collateral Agent or the Borrower complies with the terms of this Accounts Agreement, the Credit Agreement or any other Financing Document. The Accounts Bank shall have no liability for, nor any responsibility or obligation to confirm, the use or application by the Borrower, the Lender Collateral Agent or the Administrative Agent or any other recipient of amounts withdrawn or transferred from any Project Account.
(b) Except as otherwise provided in this Accounts Agreement, the Accounts Bank shall take action under this Accounts Agreement only as it shall be directed in writing by the LenderCollateral Agent or the Administrative Agent. In each case that the Accounts Bank may or is required under the other Financing Documents to take any action (an “Accounts Bank Action”), including without limitation to make any determination or judgment, to give consents, to exercise rights, powers or remedies or otherwise to act hereunder, under any other Financing Document, the Accounts Bank may seek direction from the Lender Collateral Agent or the Administrative Agent and shall be entitled to refrain from such the Accounts Bank Action unless and until it has received such direction and security or indemnity satisfactory to the Accounts Bank and shall not incur any liability to any Person by reason of so refraining.
Appears in 1 contract
Written Instructions; Notices. (a) Notwithstanding anything in this Accounts Agreement, the Credit Agreement or Agreement, any other Financing Document to the contrary, the Accounts Bank shall have no obligation to (i) make any payment, transfer or withdrawal from any Project Account until it has received written direction to make such payment, transfer or withdrawal from the Lender or, to the extent expressly provided in this Agreement or otherwise with the Lender’s written confirmationAdministrative Agent, the Collateral Agent or the Borrower as set forth herein or (ii) determine whether any payment, transfer or withdrawal from any Project Account made in accordance with any written direction from the Lender Administrative Agent, the Collateral Agent or the Borrower complies with the terms of this Accounts Agreement, the Credit Agreement or any other Financing Document. The Accounts Bank shall have no liability for, nor any responsibility or obligation to confirm, the use or application by the Borrower, the Lender Collateral Agent or the Administrative Agent or any other recipient of amounts withdrawn or transferred from any Project Account.
(b) Except as otherwise provided in this Accounts Agreement, the Accounts Bank shall take action under this Accounts Agreement only as it shall be directed in writing by the LenderCollateral Agent or the Administrative Agent. In each case that the Accounts Bank may or is required under the other Financing Documents to take any action (an “Accounts Bank Action”), including without limitation to make any determination or judgment, to give consents, to exercise rights, powers or remedies or otherwise to act hereunder, under any other Financing Document, the Accounts Bank may seek direction from the Lender Collateral Agent or the Administrative Agent and shall be entitled to refrain from such the Accounts Bank Action unless and until it has received such direction and security or indemnity satisfactory to the Accounts Bank and shall not incur any liability to any Person by reason of so refraining.
Appears in 1 contract
Written Instructions; Notices. (a) Notwithstanding anything in this Accounts Agreement, the Credit Agreement or any other Financing Document to the contrary, the Accounts Bank shall have no obligation to (i) make any payment, transfer or withdrawal from any Project Account until it has received written direction to make such payment, transfer or withdrawal from the Lender or, to the extent expressly provided in this Agreement or otherwise with the Lender’s written confirmationAdministrative Agent, the Collateral Agent or the Borrower as set forth herein or (ii) determine whether any payment, transfer or withdrawal from any Project Account made in accordance with any written direction from the Lender Administrative Agent, the Collateral Agent or the Borrower complies with the terms of this Accounts Agreement, the Credit Agreement or any other Financing Document. The Accounts Bank shall have no liability for, nor any responsibility or obligation to confirm, the use or application by the Borrower, the Lender Collateral Agent or the Administrative Agent or any other recipient of amounts withdrawn or transferred from any Project Account.
(b) Except as otherwise provided in this Accounts Agreement, the Accounts Bank shall take action under this Accounts Agreement only as it shall be directed in writing by the LenderCollateral Agent or the Administrative Agent. In each case that the Accounts Bank may or is required under the other Financing Documents to take any action (an “Accounts Bank Action”), including without limitation to make any determination or judgment, to give consents, to exercise rights, powers or remedies or otherwise to act hereunder, under any other Financing Document, the Accounts Bank may seek direction from the Lender Collateral Agent or the Administrative Agent and shall be entitled to refrain from such the Accounts Bank Action unless and until it has received such direction and security or indemnity satisfactory to the Accounts Bank and shall not incur any liability to any Person by reason of so refraining.
Appears in 1 contract
Samples: Debtor in Possession Accounts Agreement (First United Ethanol LLC)