Agent's Instructions Sample Clauses
The 'Agent's Instructions' clause defines the authority and process by which an agent receives and acts upon directions from the principal or client. Typically, this clause outlines the scope of instructions the agent is required to follow, any limitations on those instructions, and the procedures for communicating or confirming directives. For example, it may specify that instructions must be in writing or clarify what happens if instructions are unclear or conflicting. The core function of this clause is to ensure that the agent acts in accordance with the principal's wishes while providing a clear framework for communication and responsibility, thereby reducing misunderstandings and disputes.
Agent's Instructions. Borrower shall authorize and direct Bank or any other bank or financial institution which issues a Letter of Credit (an "Issuing Bank") to name Borrower as the "Account Party" therein and to deliver to Agent, with a copy to Borrower, all instruments, documents, and other writings and property received by the Issuing Bank pursuant to the Letter of Credit and to accept and rely upon Agent's instructions and agreements with respect to all matters arising in connection with the Letter of Credit, the Letter of Credit Application therefor or any acceptance thereof.
Agent's Instructions. Each Consenting Lender hereby directs each of the Agents to (i) execute and deliver this Agreement, and (ii) take the actions requested of it or them pursuant to and in compliance with this Agreement, including without limitation, to forbear from exercising rights and remedies against the Obligors and their respective properties solely with respect to the Specified Defaults in accordance with the terms and conditions of this Agreement, and to assess interest at the Post-Default Rate in accordance with SECTION 3(a) hereof.