Common use of Security Agent instructions Clause in Contracts

Security Agent instructions. For the purposes of Clause 4.1 (Distributions), Clause 4.4 (Filing of claims) and Clause 4.5 (Further assurance – Insolvency Event) the Security Agent shall, except to the extent otherwise specified in Clause 4.1 (Distributions), Clause 4.5 (Further assurance – Insolvency Event) or any other provision of this Agreement, act: (a) (in the case of any such action relating to any Subordinated Liabilities (as defined in the Intercreditor Agreement)) on the instructions of the Security Instructing Creditors (as defined in the Intercreditor Agreement) in respect of the Transaction Security (as defined in the Intercreditor Agreement) that relates to such Subordinated Liabilities or (in any other case) on the instructions of the Instructing Creditors; or (b) in the absence of any such instructions, as the Security Agent sees fit."