Common use of Reliance of Collateral Agent Clause in Contracts

Reliance of Collateral Agent. In connection with the performance of its duties hereunder, the Collateral Agent shall be entitled to rely conclusively upon, and shall be fully protected in acting or refraining from acting in accordance with, any written certification, notice, instrument, opinion, request, consent, order, approval, direction or other written communication (including any thereof by facsimile or electronic communication) of or from the Intercreditor Agent (including, but not limited to, instructions under Section 2.02(e)) or any other Secured Party that is a party hereto (to the extent not in violation of the terms hereof, of the Indenture, of the Intercreditor Agreement or of the other Financing Documents), which the Collateral Agent in good faith reasonably believes to be genuine and to have been signed or sent by or on behalf of the proper Person or Persons, and it shall be entitled to rely conclusively upon the due execution, validity and effectiveness, and the truth, correctness and acceptability of, any provisions contained therein. The Collateral Agent shall not have any responsibility hereunder to make any investigation into the facts or matters stated in any notice, certificate, instrument, demand, request, direction, instruction, or other communication furnished to it. Whenever this Agreement (or any other Financing Document) specifies that any instruction, direction or consent by the Intercreditor Agent is to be given in accordance with the terms of the Intercreditor Agreement, the Collateral Agent shall be entitled to rely upon any such instruction, direction or consent by the Intercreditor Agent (which instruction, direction or consent need not state that it is given in accordance with the terms of the Intercreditor Agreement), and the Collateral Agent may presume without investigation that any such instruction, direction or consent by the Intercreditor Agent has been given in accordance with the terms of the Intercreditor Agreement. The Intercreditor Agent hereby agrees to give any instruction, direction or consent required to be given by it to the Collateral Agent in accordance with the terms of the Intercreditor Agreement.

Appears in 2 contracts

Samples: Collateral Agency and Account Agreement, Project Agreement

AutoNDA by SimpleDocs

Reliance of Collateral Agent. In connection with the performance of its duties hereunder, the Collateral Agent shall be entitled to rely conclusively upon, and shall be fully protected in acting or refraining from acting in accordance with, any written certification, notice, instrument, opinion, request, consent, order, approval, direction or other written communication (including any thereof by facsimile or electronic communication) of or from the Intercreditor Agent (including, but not limited to, instructions under Section 2.02(e)) or of or from any other Secured Party that is a party hereto (to the extent not in violation of the terms hereof, of the Indenture, of the Intercreditor Agreement or of the other Financing Documents), which the Collateral Agent in good faith reasonably believes to be genuine and to have been signed or sent by or on behalf of the proper Person or Persons, and it shall be entitled to rely conclusively upon upon‌ the due execution, validity and effectiveness, and the truth, correctness and acceptability of, any provisions contained therein. The Collateral Agent shall not have any responsibility hereunder to make any investigation into the facts or matters stated in any notice, certificate, instrument, demand, request, direction, instruction, or other communication furnished to it. Whenever this Agreement (or any other Financing Document) specifies that any instruction, direction or consent by the Intercreditor Agent is to be given in accordance with the terms of the Intercreditor Agreement, the Collateral Agent shall be entitled to rely upon any such instruction, direction or consent by the Intercreditor Agent (which instruction, direction or consent need not state that it is given in accordance with the terms of the Intercreditor Agreement), and the Collateral Agent may presume without investigation that any such instruction, direction or consent by the Intercreditor Agent has been given in accordance with the terms of the Intercreditor Agreement. The Intercreditor Agent hereby xxxxxx agrees to give any instruction, direction or consent required to be given by it to the Collateral Agent in accordance with the terms of the Intercreditor Agreement.

Appears in 1 contract

Samples: Agency and Account Agreement

Reliance of Collateral Agent. In connection with the performance of its duties hereunder, the Collateral Agent shall be entitled to rely conclusively upon, and shall be fully protected in acting or refraining from acting in accordance with, any written certification, notice, instrument, opinion, request, consent, order, approval, direction or other written communication (including any thereof by facsimile or electronic communication) of or from the Intercreditor Agent Required Creditors (including, but not limited to, instructions under Section 2.02(e)2.02) or of or from any other Secured Party that is a party hereto (to the extent not in violation of the terms hereof, of the Indenture, of the Intercreditor Agreement hereof or of the other Financing Finance Documents), which the Collateral Agent in good faith reasonably believes to be genuine and to have been signed or sent by or on behalf of the proper Person or Persons, and it shall be entitled to rely conclusively upon the due execution, validity and effectiveness, and the truth, correctness and acceptability of, any provisions contained therein. The Collateral Agent shall not have any responsibility hereunder to make any investigation into the facts or matters stated in any notice, certificate, instrument, demand, request, direction, instruction, or other communication furnished to it. Whenever this Agreement (or any other Financing Finance Document) specifies that any instruction, direction or consent by the Intercreditor Agent Required Creditors is to be given in accordance with the terms of the Intercreditor this Agreement, the Collateral Agent shall be entitled to rely upon any such instruction, direction or consent by the Intercreditor Agent Required Creditors (which instruction, direction or consent need not state that it is given in accordance with the terms of the Intercreditor this Agreement), and the Collateral Agent may presume without investigation that any such instruction, direction or consent by the Intercreditor Agent Required Creditors has been given in accordance with the terms of this Agreement and the Intercreditor Agreementother applicable Finance Documents. The Intercreditor Agent hereby agrees to Required Creditors shall give any instruction, direction or consent required to be given by it to the Collateral Agent in accordance with the terms of the Intercreditor this Agreement.

Appears in 1 contract

Samples: Collateral Accounts and Security Agreement

AutoNDA by SimpleDocs

Reliance of Collateral Agent. In connection with the performance of its duties hereunder, the Collateral Agent shall be entitled to rely conclusively upon, and shall be fully protected in acting or refraining from acting in accordance with, any written certification, notice, instrument, opinion, request, consent, order, approval, direction or other written communication (including any thereof by facsimile or electronic communication) of or from the Intercreditor Agent (including, but not limited to, instructions under Section 2.02(e)) or any other Secured Party that is a party hereto (to the extent not in violation of the terms hereof, of the Indenture, of the Intercreditor Agreement or of the other Financing Documents), which the Collateral Agent in good faith reasonably believes to be genuine and to have been signed or sent by or on behalf of the proper Person or Persons, and it shall be entitled to rely conclusively upon the due execution, validity and effectiveness, and the truth, correctness and acceptability of, any provisions contained therein. The Collateral Agent shall not have any responsibility hereunder to make any investigation into the facts or matters stated in any notice, certificate, instrument, demand, request, direction, instruction, or other communication furnished to it. Whenever this Agreement (or any other Financing Document) specifies that any instruction, direction or consent by the Intercreditor Agent is to be given in accordance with the terms of the Intercreditor Agreement, the Collateral Agent shall be entitled to rely upon any such instruction, direction or consent by the Intercreditor Agent (which instruction, direction or consent need not state that it is given in accordance with the terms of the Intercreditor Agreement), and the Collateral Agent may presume without investigation that any such instruction, direction or consent by the Intercreditor Agent has been given in accordance with the terms of the Intercreditor Agreement. The Intercreditor Agent hereby xxxxxx agrees to give any instruction, direction or consent required to be given by it to the Collateral Agent in accordance with the terms of the Intercreditor Agreement.

Appears in 1 contract

Samples: Collateral Agency and Account Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.