Common use of Actions of the Collateral Agent Clause in Contracts

Actions of the Collateral Agent. In respect of the provisions set forth in this Article and Schedule 8.1, the Collateral Agent is acting without discretion and on the instruction of the Lender and/or the Pari Passu Secured Parties in accordance with the terms of the Intercreditor Agreement and the other Secured Obligations Documents (as defined in the Intercreditor Agreement) and any actions to be taken or discretion to be exercised by the Collateral Agent shall be deemed to be actions taken or discretion exercised, as applicable, by the Collateral Agent on the instruction of the Lender and/or the Pari Passu Secured Parties in accordance with the terms of the Intercreditor Agreement and the other Secured Obligations Documents.