Common use of Collateral Agent Authority Clause in Contracts

Collateral Agent Authority. The Collateral Agent may, but shall have no obligation to, with the written concurrence of any Lender, exe-cute amendments, modifica-tions, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 15.07, no amendment, modification, waiver or consent shall affect the rights or duties of the Collateral Agent under this Agreement or the other Loan Documents, unless made in writing and signed by the Collateral Agent in addition to the Lenders required above to take such action; and the order of priority set forth in clauses (i) and (ii) of Section 4.02(b) may be changed only with the prior written consent of the Collateral Agent. Notwithstanding anything herein to the contrary, in the event that the Borrower shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within thirty (30) days after such request, then such Lender shall be deemed to not have approved such amendment, modification, waiver or consent and the Collateral Agent shall thereupon determine whether the Lenders required above to take the requested action have approved the same within the required time and communicate such determination to the Borrower and the Lenders.

Collateral Agent Authority. The Collateral Agent may, but shall have no obligation to, with the written concurrence of any Lender, exe-cute execute amendments, modifica-tionsmodifications, waivers or consents on behalf of that Lender. Notwithstanding anything to the contrary contained in this Section 15.07, no amendment, modification, waiver or consent shall affect the rights or duties of the Collateral Agent under this Agreement or the other Loan Documents, unless made in writing and signed by the Collateral Agent in addition to the Lenders required above to take such action; and the order of priority set forth in clauses (i) and (ii) of Section 4.02(b) may be changed only with the prior written consent of the Collateral Agent. Notwithstanding anything herein to the contrary, in the event that the Borrower Borrowers shall have requested, in writing, that any Lender agree to an amendment, modification, waiver or consent with respect to any particular provision or provisions of this Agreement or the other Loan Documents, and such Lender shall have failed to state, in writing, that it either agrees or disagrees (in full or in part) with all such requests (in the case of its statement of agreement, subject to satisfactory documentation and such other conditions it may specify) within thirty (30) days after such request, then such Lender shall be deemed to not have approved such amendment, modification, waiver or consent and the Collateral Agent shall thereupon determine whether the Lenders required above to take the requested action have approved the same within the required time and communicate such determination to the Borrower Borrowers and the Lenders.