Common use of No Action without Instructions Clause in Contracts

No Action without Instructions. The Administrative Agent and the International Collateral Agent shall not be required to exercise any discretion or take, or to omit to take, any action, including with respect to enforcement or collection, except any action it is required to take or omit to take (i) under any International Loan Document or (ii) pursuant to instructions from the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of the Lenders).

Appears in 3 contracts

Sources: Credit Agreement (Hill International, Inc.), Credit Agreement (Hill International, Inc.), Credit Agreement (Hill International, Inc.)