Common use of Collateral Actions Clause in Contracts

Collateral Actions. Each of the parties hereto acknowledges ------------------ and agrees that all provisions herein and under any Security Document relating to rights and remedies under any Security Document shall be exercised only upon the direction of the Required Lenders (except as expressly set forth in Section 9.14 hereof), and that the provisions of this Section 9.16 may not be amended except with the consent of the Required Lenders; provided, however, that the -------- ------- Majority Banks (or, as provided in Section 11.12 hereof, all Banks) shall determine whether any collateral for the Obligations hereunder may be released.

Collateral Actions. Each of the parties hereto acknowledges ------------------ and agrees that all provisions herein and under any Security Document relating to rights and remedies under any Security Document shall be exercised only upon the direction of the Required Lenders (except Lenders(except as expressly set forth in Section 9.14 hereof), and that the provisions of this Section 9.16 may not be amended except with the consent of the Required Lenders; provided, provided however, that the -------- ------- Majority Banks (oror , as provided in Section 11.12 hereof, hereof all Banks) shall determine whether any collateral for the Obligations hereunder may be released.