No Action by Administrator Sample Clauses
The "No Action by Administrator" clause defines the circumstances under which the administrator of an agreement is not required or permitted to take certain actions unless specifically instructed or authorized. In practice, this means the administrator will not independently initiate steps such as enforcing rights, making decisions, or executing documents unless directed by the relevant parties or as expressly provided in the agreement. This clause ensures that the administrator's role remains neutral and procedural, preventing unauthorized or unilateral actions and thereby protecting the interests of all parties involved.
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents.