Common use of Exercise of Powers Clause in Contracts

Exercise of Powers. Subject to the other provisions of this Agreement, the Collateral Agent shall take any action of the type specified herein or in any Security Documents as being within the Collateral Agent’s rights, powers or discretion in accordance with directions from the Required Creditors (or, to the extent this Agreement or such Security Document specifically requires the consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructions, the Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take such action, to the extent not inconsistent with directions by the Required Creditors, unless this Agreement or such Security Document specifically requires the consent or direction of the Required Creditors (or some other Person or set of Persons), in which case the Collateral Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured Creditors. The Collateral Agent shall not have any liability to any Person as a result of (a) the Collateral Agent acting or refraining from acting in accordance with the directions of the Required Creditors (or other applicable Person or set of Persons), (b) the Collateral Agent refraining from acting in the absence of instructions to act from the Required Creditors (or other applicable Person or set of Persons), whether or not the Collateral Agent has discretionary power to take such action, or (c) the Collateral Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause (c) to the provisions of Section 6.2).

Exercise of Powers. Subject to the other provisions of this AgreementAgreement and the other Loan Documents, the Collateral Agent shall take any action of the type specified herein in this Agreement or in any Security Documents other Loan Document as being within the Collateral Agent’s 's rights, powers or discretion in accordance with directions from the Required Creditors Lenders (or, to the extent this Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructionsdirections, the Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take any such action, except to the extent not inconsistent with directions by the Required Creditors, unless this Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of the Required Creditors Lenders (or some other Person or set of Persons), in which case the Collateral Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured CreditorsLender Parties. The Collateral Agent shall not have any liability to any Person as a result of (a) the Collateral Agent acting or refraining from acting in accordance with the directions of the Required Creditors Lenders (or other applicable Person or set of Persons), (b) the Collateral Agent refraining from acting in the absence of instructions to act from the Required Creditors Lenders (or other applicable Person or set of Persons), whether or not the Collateral Agent has discretionary power to take such action, or (c) the Collateral Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause (c) ), to the provisions of Section 6.28.4(a)).

Exercise of Powers. Subject to the other provisions of this AgreementAgreement and the other Loan Documents, the Collateral Agent shall take any action of the type specified herein in this Agreement or in any Security Documents other Loan Document as being within the Collateral Agent’s 's rights, powers or discretion in accordance with directions from the Required Creditors Lenders (or, to the extent this Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructionsdirections, the Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take any such action, except to the extent not inconsistent with directions by the Required Creditors, unless this Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of the Required Creditors Lenders (or some other Person or set of Persons), in which case the Collateral Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured CreditorsLender Parties. The Collateral Agent shall not have any liability to any Person as a result of (ax) the Collateral Agent acting or refraining from acting in accordance with the directions of the Required Creditors Lenders (or other applicable Person or set of Persons), (by) the Collateral Agent refraining from acting in the absence of instructions to act from the Required Creditors Lenders (or other applicable Person or set of Persons), whether or not the Collateral Agent has discretionary power to take such action, or (cz) the Collateral Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause (c) z), to the provisions of Section 6.29.04(a) hereof).

Exercise of Powers. Subject to the other provisions of this AgreementAgreement and the other Loan Documents, the Collateral Agent shall take any action of the type specified herein in this Agreement or in any Security Documents other Loan Document as being within the Collateral Agent’s 's rights, powers or discretion in accordance with directions from the Required Creditors Lenders (or, to the extent this Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructionsdirections, the Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take any such action, except to the extent not inconsistent with directions by the Required Creditors, unless this Agreement or such Security Loan Document specifically expressly requires A-50 164 the direction or consent or direction of the Required Creditors Lenders (or some other Person or set of Persons), in which case the Collateral Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured CreditorsLender Parties. The Collateral Agent shall not have any liability to any Person as a result of (ax) the Collateral Agent acting or refraining from acting in accordance with the directions of the Required Creditors Lenders (or other applicable Person or set of Persons), (by) the Collateral Agent refraining from acting in the absence of instructions to act from the Required Creditors Lenders (or other applicable Person or set of Persons), whether or not the Collateral Agent has discretionary power to take such action, or (cz) the Collateral Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause (c) z), to the provisions of Section 6.29.04(a) hereof).

Exercise of Powers. Subject to the other provisions of this Agreement, the Collateral Agent shall take any action of the type specified herein or in any other Security Documents as being within the Collateral Agent’s 's rights, powers or discretion in accordance with directions from the Required Creditors Directing Party (or, to the extent this Agreement or such Security Document specifically requires the consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructions, the Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take such action, to the extent not inconsistent with directions by the Required CreditorsDirecting Party, unless this Agreement or such Security Document specifically requires the consent or direction of the Required Creditors Directing Party (or some other Person or set of Persons), in which case the Collateral Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured CreditorsParties. The Collateral Agent shall not have any liability to any Person as a result of (a) the Collateral Agent acting or refraining from acting in accordance with the directions of the Required Creditors Directing Party (or other applicable Person or set of Persons), (b) the Collateral Agent refraining from acting in the absence of instructions to act from the Required Creditors Directing Party (or other applicable Person or set of Persons), whether or not the Collateral Agent has discretionary power to take such action, or (c) the Collateral Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause (c) to the provisions of Section 6.25.2 hereof).

Exercise of Powers. Subject to the other provisions of this AgreementAgreement and the other Loan Documents, the Collateral Administrative Agent shall take any action of the type specified herein in this Agreement or in any Security Documents other Loan Document as being within the Collateral Administrative Agent’s 's rights, powers or discretion in accordance with directions from the Required Creditors Lenders (or, to the extent this Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructionsdirections, the Collateral Administrative Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take any such action, except to the extent not inconsistent with directions by the Required Creditors, unless this Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of the Required Creditors Lenders (or some other Person or set of Persons), in which case the Collateral Administrative Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured CreditorsLender Parties. The Collateral Administrative Agent shall not have any liability to any Person as a result of (ax) the Collateral Administrative Agent acting or refraining from acting in accordance with the directions of the Required Creditors Lenders (or other applicable Person or set of Persons), (by) the Collateral Administrative Agent refraining from acting in the absence of instructions to act from the Required Creditors Lenders (or other applicable Person or set of Persons), whether or not the Collateral Administrative Agent has discretionary power to take such action, or (cz) the Collateral Administrative Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause (c) z), to the provisions of Section 6.28.04(a)).

Exercise of Powers. Subject to the other provisions of this AgreementAgreement and the other Shared Security Documents, the Collateral Agent shall take any action of the type specified herein in this Agreement or in any other Shared Security Documents Document as being within the Collateral Agent’s 's rights, powers or discretion in accordance with directions from the Required Creditors Directing Party (or, to the extent this Agreement or such Shared Security Document specifically expressly requires the direction or consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructionsdirections, the Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take any such action, except to the extent not inconsistent with directions by the Required Creditors, unless this Agreement or such Shared Security Document specifically expressly requires the direction or consent or direction of the Required Creditors Directing Party (or some other Person or set of Persons), in which case the Collateral Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured CreditorsFacility Parties. The Collateral Agent shall not have any liability to any Person as a result of (ax) the Collateral Agent acting or refraining from acting in accordance with the directions of the Required Creditors Directing Party (or other applicable Person or set of Persons), (by) the Collateral Agent refraining from acting in the absence of instructions to act from the Required Creditors Directing Party (or other applicable Person or set of Persons), whether or not the Collateral Agent has discretionary power to take such action, or (cz) the Collateral Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause (c) z), to the provisions of Section 6.25.04(a) hereof).

Exercise of Powers. Subject to the other provisions of this AgreementAgreement and the other Shared Security Documents, the Collateral Agent shall take any action of the type specified herein in this Agreement or in any other Shared Security Documents Document as being within the Collateral Agent’s 's rights, powers or discretion in accordance with directions from the Required Creditors Directing Party (or, to the extent this Agreement or such Shared Security Document specifically expressly requires the direction or consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructionsdirections, the Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole discretion, to take any such action, except to the extent not inconsistent with directions by the Required Creditors, unless this Agreement or such Shared Security Document specifically expressly requires the direction or consent or direction of the Required Creditors Directing Party (or some other Person or set of Persons), in which case the Collateral Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all of the Secured CreditorsFacility Parties. The Collateral Agent shall not have any liability to any Person as a result of (ax) the Collateral Agent acting or refraining from acting in accordance with the directions of the Required Creditors Directing Party (or other applicable Person or set of Persons), (by) the Collateral Agent refraining from acting in the absence of instructions to act from the Required Creditors Directing Party (or other applicable Person or set of Persons), whether or not the Collateral Agent has discretionary power to take such action, or (cz) the Collateral Agent taking discretionary action it is authorized to take under this Section 3.2 5.3 (subject, in the case of this clause (c) z), to the provisions of Section 6.25.2 [General Nature of Collateral Agent's Duties] ).

Exercise of Powers. Subject to the other provisions of this AgreementThe Administrative Agent, the US Collateral Agent and/or the Canadian Collateral Agent shall take any action of the type specified herein in this Loan Agreement or in any Security Documents other Loan Document as being within the Collateral such Agent’s 's respective rights, powers or discretion in accordance with directions from the Required Creditors Requisite Lenders (or, to the extent this Loan Agreement or such Security other Loan Document specifically expressly requires the direction or consent or direction of some other Person or set of Persons, then instead in accordance with the directions of such other Person or set of Persons). In the absence of any such instructionsdirections, each of the Administrative Agent, the US Collateral Agent and the Canadian Collateral Agent shall have the authority (but under no circumstances shall be obligated), in its sole and absolute discretion, to take any such action, except to the extent not inconsistent with directions by the Required Creditors, unless this Loan Agreement or such Security Loan Document specifically expressly requires the direction or consent or direction of the Required Creditors Requisite Lenders (or some other Person or set of Persons), in which case the Collateral such Agent shall not take such action absent such direction or consent. Any action or inaction pursuant to such direction, discretion or consent shall be binding on all the Lenders. None of the Secured Creditors. The Administrative Agent, the US Collateral Agent or the Canadian Collateral Agent shall not have any liability to any Person as a result of (ai) the Collateral such Agent acting or refraining from acting in accordance with the directions of the Required Creditors Requisite Lenders (or other applicable Person or set of Persons), (bii) the Collateral such Agent refraining from acting in the absence of instructions to act from the Required Creditors Requisite Lenders (or other applicable Person or set of Persons), whether or not the Collateral such Agent has discretionary power to take such action, or (ciii) the Collateral such Agent taking discretionary action it is authorized to take under this Section 3.2 (subject, in the case of this clause CLAUSE (c) iii), to the provisions of Section 6.2SECTION 10.04(i) hereof).