Common use of Collateral Agent As Agent Clause in Contracts

Collateral Agent As Agent. The Collateral Agent has been appointed to act as Collateral Agent hereunder by the Holders. The Collateral Agent shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of Pledged Collateral), solely in accordance with this Agreement and the Note and Warrant Purchase Agreement and upon the instructions of the Holders holding a majority of the principal amount of the Notes.

Collateral Agent As Agent. The Collateral Agent has been appointed to act as Collateral Agent hereunder by the Holders. The Collateral Agent shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of Pledged Collateral), solely in accordance with this Agreement and the Note and Warrant Purchase Agreement and upon the instructions of the Holders holding a majority Holders, who by their acceptance of the principal amount benefits of this Agreement and the Notesother Transaction Documents, hereby agree to be bound by such instructions.