Common use of Instruction Required Clause in Contracts

Instruction Required. Any action hereunder on the part of the Notes Collateral Agent to be exercised or performed shall only be exercised or performed if the Notes Collateral Agent receives written instructions from the Notes Trustee, acting at the written direction of the applicable Indenture Secured Parties, or from the Issuer, in each case as applicable and in accordance with and subject to the terms of the Indenture. No Notes Collateral Agent shall be under any obligation to exercise any of the rights or powers vested in it by the Indenture or this Agreement at the request or direction of any of the applicable First Lien Secured Parties pursuant to this Agreement or the Indenture, unless the applicable First Lien Secured Parties shall have offered and, if requested, provided to such Collateral Agent security and/or indemnity satisfactory to such Notes Collateral Agent against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

Appears in 2 contracts

Sources: Indenture (Applied Digital Corp.), Indenture (Cipher Mining Inc.)

Instruction Required. Any action hereunder on the part of the Notes any Additional Collateral Agent to be exercised or performed shall only be exercised or performed if the Notes Additional Collateral Agent receives written instructions from the Notes Trustee, Applicable Authorized Representative acting at the written direction on behalf of the applicable Indenture Additional Secured Parties, or from the Issuer, in each case as applicable and Parties in accordance with and subject to the terms of the Notes Indenture. No Notes Additional Collateral Agent shall be under any obligation to exercise any of the rights or powers vested in it by the Notes Indenture or this Agreement at the request or direction of any of the Applicable Authorized Representative acting on behalf of the applicable First Lien Secured Parties pursuant to this Agreement or the Notes Indenture, unless the applicable First Lien Secured Parties shall have offered and, if requested, provided to such Collateral Agent security and/or indemnity satisfactory to such Notes Additional Collateral Agent against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

Appears in 1 contract

Sources: Term Loan Credit Agreement (Houghton Mifflin Harcourt Co)

Instruction Required. Any action hereunder on the part of the Notes Collateral Agent to be exercised or performed shall only be exercised or performed if the Notes Collateral Agent receives written instructions from the Notes Trustee, acting at the written direction of the applicable Indenture Secured Parties, or from the Issuer, in each case as applicable and Parties in accordance with and subject to the terms of the Indenture. No The Notes Collateral Agent shall be under any no obligation to exercise any of the rights or powers vested in it by the Indenture or this Agreement at the request or direction of any of the applicable First Lien Secured Parties pursuant to this Agreement or the Indenture, unless the applicable First Lien Secured Parties shall have offered and, if requested, provided to such Collateral Agent security and/or or indemnity satisfactory to such the Notes Collateral Agent against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

Appears in 1 contract

Sources: Indenture (Baldwin Insurance Group, Inc.)

Instruction Required. Any action hereunder on the part of the Notes any Additional Collateral Agent to be exercised or performed shall only be exercised or performed if the Notes Additional Collateral Agent receives written instructions from the Notes Trustee, Applicable Authorized Representative acting at the written direction on behalf of the applicable Indenture Additional Secured Parties, or from the Issuer, in each case as applicable and Parties in accordance with and subject to the terms of the Indentureapplicable Additional Documents. No Notes Additional Collateral Agent shall be under any obligation to exercise any of the rights or powers vested in it by the Indenture applicable Additional Documents or this Agreement at the request or direction of any of the Applicable Authorized Representative acting on behalf of the applicable First Lien Secured Parties pursuant to this Agreement or the Indentureapplicable Additional Documents, unless the applicable First Lien Secured Parties shall have offered and, if requested, provided to such Additional Collateral Agent security and/or indemnity satisfactory to such Notes Additional Collateral Agent against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

Appears in 1 contract

Sources: Pari Passu Intercreditor Agreement (Dana Inc)