Refusal to Act. The Administrative Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Administrative Agent’s opinion, (i) is contrary to law or the provisions of any Security Document, (ii) may expose the Administrative Agent to liability (unless the Administrative Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.
Appears in 12 contracts
Samples: Credit Agreement (Energizer Holdings, Inc.), Credit Agreement (Energizer SpinCo, Inc.), Security Agreement (Marvell Technology Group LTD)
Refusal to Act. The Administrative Collateral Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Administrative Collateral Agent’s opinion, (i) is contrary to law or the provisions of any Security Document, (ii) may expose the Administrative Collateral Agent to liability (unless the Administrative Collateral Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.
Appears in 7 contracts
Samples: Credit Agreement (Huntington Ingalls Industries, Inc.), Guarantee and Collateral Agreement (Retrophin, Inc.), Security Agreement (American Reprographics CO)
Refusal to Act. The Administrative Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties Party or any agent, trustee or similar representative thereof that, in the Administrative Agent’s opinion, (i) is contrary to law or the provisions of any Security Collateral Document, (ii) may expose the Administrative Agent to liability (unless the Administrative Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.
Appears in 6 contracts
Samples: Security Agreement (FS Investment CORP), Security Agreement (American Capital, LTD), Security Agreement (FS Energy & Power Fund)
Refusal to Act. The Administrative Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Administrative Agent’s 's opinion, (i) is contrary to law or the provisions of any Security Document, (ii) may expose the Administrative Agent to liability (unless the Administrative Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.
Appears in 3 contracts
Samples: Guarantee and Security Agreement (Cloud Peak Energy Inc.), Guarantee and Security Agreement (DealerTrack Holdings, Inc.), Security Agreement (Keystone Marketing Services Inc)
Refusal to Act. The Administrative Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Administrative Agent’s opinion, (i) is contrary to law or the provisions of any Security Collateral Document, (ii) may expose the Administrative Agent to liability (unless the Administrative Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.
Appears in 3 contracts
Samples: Security Agreement (LyondellBasell Industries N.V.), Credit Agreement (Kinetic Concepts Inc), Guarantee and Security Agreement (Kinetic Concepts Inc)
Refusal to Act. The Administrative Agent may refuse to act on any notice, consent, direction or instruction from any Secured Guaranteed Parties or any agent, trustee or similar representative thereof that, in the Administrative Agent’s opinion, (i) is contrary to law or the provisions of any Security Loan Document, (ii) may expose the Administrative Agent to liability (unless the Administrative Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Guaranteed Parties that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Guaranteed Parties not joining in such notice, consent, direction or instruction.
Appears in 2 contracts
Samples: Holdings Guaranty (Spectrum Brands, Inc.), Subsidiary Guaranty (Spectrum Brands, Inc.)
Refusal to Act. The Administrative Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Administrative Agent’s Agents opinion, (i) is contrary to law or the provisions of any Security Document, (ii) may expose the Administrative Agent to liability (unless the Administrative Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iii) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.
Appears in 1 contract
Refusal to Act. The Administrative Agent may refuse to act on any notice, consent, direction or instruction from any Secured Parties or any agent, trustee or similar representative thereof that, in the Administrative Agent’s opinion, (i) is k)is contrary to law or the provisions of any Security Document, (ii) may l)may expose the Administrative Agent to liability (unless the Administrative Agent shall have been indemnified, to its reasonable satisfaction, for such liability by the Secured Parties that gave such notice, consent, direction or instruction) or (iiim) is unduly prejudicial to Secured Parties not joining in such notice, consent, direction or instruction.
Appears in 1 contract
Samples: Credit Agreement (Tapestry, Inc.)
