Common use of Recourse of Secured Parties; Other Collateral Clause in Contracts

Recourse of Secured Parties; Other Collateral. (a) Each of the Secured Parties acknowledges and agrees that (i) it shall only have recourse to the Collateral through the Collateral Agent and that it shall have no independent recourse to the Collateral and (ii) the Collateral Agent shall have no obligation to, and shall not (except as otherwise specifically provided herein) take, any action hereunder or under any Security Document to which it is a party, except upon instructions from the Requisite Parties or the Special Requisite Parties, as the case may be, in accordance with Section 2.2 hereof.

Recourse of Secured Parties; Other Collateral. (a) Each of the Secured Parties acknowledges and agrees that (i) it shall only have recourse to the Guaranties and the Collateral through the Collateral Agent and that it shall have no independent recourse to the Guaranties or the Collateral and (ii) the Collateral Agent shall have no obligation to, and shall not (except pursuant to (S)3.2(c) or as otherwise specifically provided herein) take), take any action hereunder or under any Security Document to which it is a party, except upon instructions from the Requisite Parties or the Special Requisite Parties, as the case may be, in accordance with Section 2.2 (S)2.2 hereof.

Recourse of Secured Parties; Other Collateral. (a) Each of the Secured Parties Lender and the Subordinated Creditor acknowledges and agrees that except as provided in part (b) of this Section 5.02, (i) it shall only have recourse to the Lender Collateral and the Proceeds through the its respective Collateral Agent and that it shall have no independent recourse to the Lender Collateral and the Proceeds and (ii) the its respective Collateral Agent shall have no obligation toto take any action, and shall not (except as otherwise specifically provided herein) take, or refrain from taking any action hereunder or under any Security Document to which it is a partyaction, except upon written instructions from the Requisite Parties or the Special Requisite Parties, as the case may be, Party in accordance with Section 2.2 5.03 hereof.