Common use of Actions by Collateral Agent Clause in Contracts

Actions by Collateral Agent. As to any matter not expressly provided for by this Agreement or the other Credit Agreement Security Documents, the Collateral Agent will act or refrain from acting as directed by an Act of Specified Lenders and will be fully protected if it does so, and any action taken, suffered or omitted pursuant to hereto or thereto shall be binding on the holders of Pari Passu Guaranteed Obligations.

Appears in 2 contracts

Sources: Term Loan Agreement (Diversified Healthcare Trust), Credit Agreement (Diversified Healthcare Trust)

Actions by Collateral Agent. As to any matter not expressly provided for by this Agreement or the other Credit Agreement Pari Passu Security Documents, the Collateral Agent will act or refrain from acting as directed by an Act of Specified Lenders Required Pari Passu Debtholders and will be fully protected if it does so, and any action taken, suffered or omitted pursuant to hereto or thereto shall be binding on the holders of Pari Passu Guaranteed Obligations.

Appears in 1 contract

Sources: Credit Agreement (Sunstone Hotel Investors, Inc.)