Common use of Instructions to Collateral Agent Clause in Contracts

Instructions to Collateral Agent. The Collateral Agent shall be entitled to refrain from taking any action unless it has such instruction (in the form of Proper Instructions) from the Borrower (or the Collateral Manager on the Borrower’s behalf), the Required Lenders or the Administrative Agent, as applicable, as it reasonably deems necessary. In the absence of gross negligence, fraud or willful misconduct by the Collateral Agent, the Collateral Agent shall have no liability for any action (or forbearance from action) taken pursuant to any Proper Instruction of the Borrower, the Collateral Manager, the Required Lenders or the Administrative Agent, as applicable.

Instructions to Collateral Agent. The Collateral Agent shall be entitled to refrain from taking any action unless it has such instruction (in the form of Proper Instructions) from the Borrower (or the Collateral Manager Servicer on the Borrower’s behalf), ) the Required Lenders or the Administrative Agent, as applicable, as it reasonably deems necessary. In the absence of gross negligence, fraud or willful misconduct by the Collateral Agent, the The Collateral Agent shall have no liability for any action (or forbearance from action) pursuant to the terms of this Agreement or any other Facility Document or taken pursuant to any Proper Instruction of the Borrower, the Collateral ManagerServicer, the Required Lenders or the Administrative Agent, as applicable, except in the case of the Collateral Agent’s own gross negligence, fraud or willful misconduct.

Instructions to Collateral Agent. The Collateral Agent shall be entitled to refrain from taking any action unless it has such instruction (been instructed in the form of Proper Instructions) from writing by the Borrower (or the Collateral Manager on the Borrower’s behalf), the Required Lenders or the Administrative Agent, as applicable, as it reasonably deems necessary. In the absence of gross negligence, fraud negligence or willful misconduct by the Collateral Agent, the Collateral Agent shall have no liability for any action (or forbearance from action) taken pursuant to any Proper Instruction such written instructions of the Borrower, the Collateral Manager, the Required Lenders or the Administrative Agent, as applicable.