Actions Under Security Documents. Subject to the provisions of this Article 10, the Agent shall take any action under or with respect to the Security Documents which is requested by the Lenders and which is not inconsistent with or contrary to the provisions of this Agreement or the other Loan Documents. The Agent shall, subject in all cases to the provisions of this Article 10, exercise or refrain from exercising all such rights, powers and remedies as shall be available to it under the Security Documents or any of them in accordance with any written instructions received from the Lenders. The Agent shall have the right to decline to follow any such direction if the Agent, being advised by counsel, determines that the directed action is not permitted by the terms of this Agreement or the Security Documents, may not lawfully be taken or would involve it in personal liability, and the Agent shall not be required to take any such action unless it shall have been provided an indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred by it in compliance with such direction. The Agent may rely on any such direction given to it by the Lenders and shall be fully protected, and shall under no circumstances (absent the gross negligence and willful misconduct of the Agent) be liable to the Borrower, the Guarantor, any holder of any Note or any other Person for taking or refraining from taking action in accordance therewith. Absent written instructions from the Lenders, in the case of an emergency in order to protect any of the Collateral, the Agent may take (but shall have no obligation to take) any and all such actions under the Security Documents or any of them or otherwise as it shall deem to be in the best interests of the Lenders. Except as provided in the preceding sentence, in the absence of written instructions (which may relate to the exercise of specific remedies or to the exercise of remedies in general) from the Lenders, the Agent shall not exercise remedies available to it under any Security Documents with respect to the Collateral or any part thereof.
Actions Under Security Documents. (a) The Collateral Agent shall not be obligated to take any action under this Agreement or any of the Security Documents except for the performance of such duties as are specifically set forth herein or therein. The Collateral Agent shall take any action under or with respect to the Security Documents or the Collateral which is requested by the Requisite Parties or the Special Requisite Parties, as the case may be, pursuant to Section 4.5; provided that the Collateral Agent shall not amend or waive any provision of the Security Documents except in accordance with Section 7.
Actions Under Security Documents. With respect to any action under or in respect of the Security Documents that the provisions of this Agreement permit or require the Administrative Agent to take only with the consent, or upon the direction, of all of the Lenders or the Majority Lenders, as the case may be, the Lenders acknowledge that the Administrative Agent shall be required to take such action only if such action is approved by, in addition to all the Lenders or the Majority Lenders, as the case may be, such instructing group of lenders under each of the Other Credit Agreements as the Other Credit Agreements require for such action.
Actions Under Security Documents. No Collateral Agent shall be obliged or required to take any action under this Agreement or any other Security Document in the absence of instructions received from the Secured Parties in accordance with this Agreement but may take, but shall have no obligation to take, any and all actions under any applicable Security Document as it shall deem necessary in its sole discretion in order to maintain, protect or preserve the Collateral and the rights and interests of the Secured Parties therein.
Actions Under Security Documents. With respect to any action under or in respect of the Security Documents that the provisions of this Agreement permit or require the
Actions Under Security Documents. (a) The Collateral Agent shall not be obligated to take any action under this Agreement or any of the Security Documents except for the performance of such duties as are specifically set forth herein or therein. Subject to the provisions of Article V and Section 7.5, the Collateral Agent shall take any action under or with respect to the Security Documents that is requested by the Required Creditors and which in the Collateral Agent's determination is not inconsistent with or contrary to the provisions of this Agreement or the Security Documents. In the absence of necessary instructions from the Required Creditors, the Collateral Agent may take, but shall have no obligation to take, any and all such actions under the Security Documents or any of them or otherwise as it shall deem to be in the best interests of the Participating Creditors in order to maintain the Collateral and protect and preserve the Collateral and the rights of the Participating Creditors; provided, however, that, except as provided in paragraph (b) below or the last sentence of Section 5.3(d), in the absence of written instructions (which may relate to the exercise of specific remedies or to the exercise of remedies in general) from the Required Creditors, the Collateral Agent shall not foreclose any Lien on the Collateral or exercise any other remedies available to it under any Security Documents with respect to the Collateral or any part thereof.
Actions Under Security Documents. (a) Each Secured Party agrees that, except as provided below and under Section 3.3, any enforcement of the Security Documents cannot occur unless a Notice of Enforcement is given to the Collateral Agent by or on behalf of one or more Secured Parties meeting the conditions set forth in Section 4.1(c); provided, however, that forthwith upon receipt of a notice given in accordance with Section 4.1(c)(iii) the Collateral Agent shall give the NOVA Parties a notice of its intention to enforce the Security Documents pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada), or any successor legislation thereto, and to enforce the Security Documents as set out in this paragraph. Whenever a Notice of Enforcement has been given, the Collateral Agent shall enforce the Security Documents and realize upon the Collateral in accordance with this Section 4.2. Unless otherwise directed in writing by all of the Enforcing Secured Parties, the Collateral Agent shall enforce the Security Documents by way of seeking the appointment of a court-appointed Receiver in respect of the applicable NOVA Parties. The Collateral Agent shall otherwise enforce the Security Documents and realize upon the Collateral in a commercially reasonable manner and in accordance with any directions given by the Majority Enforcing Secured Parties (including any directions requested in accordance with Section 4.2(b)); provided such directions are not inconsistent with or contrary to the provisions of this Agreement, any other Security Document or any applicable law and subject to the right of the applicable Enforcing Secured Parties to deliver a Notice of Cancellation of Enforcement in accordance with Section 4.1(e). Each Enforcing Secured Party agrees that it will cooperate with the Collateral Agent, any Receiver and the other Enforcing Secured Parties and provide the Collateral Agent and any Receiver with reasonable enforcement directions, all with a view to maximizing the Proceeds of Realization.
Actions Under Security Documents. Each Collateral Agent shall take any reasonable action under or with respect to its Security Documents which is requested by the Requisite Party and which request does not contravene the provisions of this Agreement. Each Collateral Agent shall exercise or refrain from exercising all such rights, powers and remedies as shall be available to it under its Security Documents or any of them in accordance with any written instructions received from the Requisite Party. In the absence of written instructions (which may relate to the exercise of specific remedies or to the exercise of remedies in general) from the Requisite Party, neither Collateral Agent shall exercise remedies available to it under any of its Security Documents with respect to the Lender Collateral and the Proceeds or any part thereof.
Actions Under Security Documents. 21 Section 6.3 Limitations on Responsibility of Collateral Agent........21
Actions Under Security Documents. (a) Each Secured Party agrees that, except as provided below and under Section 3.3, any enforcement of the Security Documents cannot occur unless a Notice of Enforcement is given to the Collateral Agent by or on behalf of one or more Secured Parties meeting the conditions set forth in Section 4.1(c); provided, however, that forthwith upon receipt of a notice given in accordance with Section 4.1(c)(iii) the Collateral Agent shall give the NOVA Parties a notice of its intention to enforce the Security Documents pursuant to the provisions of the Bankruptcy and Insolvency Act (Canada), or any successor legislation thereto, and to enforce the Security Documents as set out in this paragraph. Whenever a Notice of Enforcement has been given, the Collateral Agent shall enforce the Security Documents and realize upon the Collateral in accordance with this Section 4.2. Unless otherwise directed in writing by all of the Enforcing Secured Parties, the Collateral Agent shall enforce the Security Documents by way of seeking the appointment of a court-appointed Receiver in respect of the applicable
