Common use of No Action without Instructions Clause in Contracts

No Action without Instructions. Collateral Representative shall not be required to exercise any discretion or take, or to omit to take, any action, including with respect to enforcement or collection, except any action it is required to take or omit to take (i) under any Loan Document or (ii) pursuant to instructions from Majority Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of Lenders).