Common use of Requests for Instructions Clause in Contracts

Requests for Instructions. The Collateral Agents may at any time request instructions from the Purchasers’ Agent and/or the Purchasers with respect to any actions or approvals which, by the terms of this Agreement or any of the Security, the Collateral Agents are permitted or required to take or to grant, and the Collateral Agents shall be absolutely entitled to refrain from taking any such action or to withhold any such approval and shall not be under any liability whatsoever as a result thereof until it shall have received such instructions from the Purchasers’ Agent and/or the Purchasers. The Purchasers’ Agent and the Purchasers shall not have any right of action whatsoever against the Collateral Agents as a result of the Collateral Agents acting or refraining from acting under the Security in accordance with instructions from the Purchasers’ Agent or the Purchasers. The Collateral Agents shall in all cases be fully justified in failing or refusing to take or continue any action under the Security unless it shall have received further assurances to its satisfaction from the Purchasers of their indemnification obligations under Section 21.10 of this Agreement against any and all liability and expense which may be incurred by it by reason of taking or continuing to take such action, and unless it shall be secured in respect thereof as it may deem appropriate.

Appears in 2 contracts

Sources: Copper Concentrates Sales Agreement (Solaris Resources Inc.), Molybdenum Concentrates Sales Agreement (Solaris Resources Inc.)

Requests for Instructions. The Collateral Agents Agent may at any time request instructions from the Purchasers’ Administrative Agent and/or the Purchasers Lenders with respect to any actions or approvals which, by the terms of this Agreement or any of the Security, the Collateral Agents are Agent is permitted or required to take or to grant, and the Collateral Agents Agent shall be absolutely entitled to refrain from taking any such action or to withhold any such approval and shall not be under any liability whatsoever as a result thereof until it shall have received such instructions from the Purchasers’ Administrative Agent and/or the PurchasersLenders. The Purchasers’ Administrative Agent and the Purchasers Lenders shall not have any right of action whatsoever against the Collateral Agents Agent as a result of the Collateral Agents Agent acting or refraining from acting under the Security in accordance with instructions from the Purchasers’ Administrative Agent or the PurchasersLenders. The Collateral Agents Agent shall in all cases be fully justified in failing or refusing to take or continue any action under the Security unless it shall have received further assurances to its satisfaction from the Purchasers Lenders of their indemnification obligations under Section 21.10 11.10 of this Agreement against any and all liability and expense which may be incurred by it by reason of taking or continuing to take such action, and unless it shall be secured in respect thereof as it may deem appropriate.

Appears in 1 contract

Sources: Credit Agreement (Osisko Development Corp.)

Requests for Instructions. The Collateral Agents may at any time request instructions from the Purchasers’ Administrative Agent and/or the Purchasers Lenders with respect to any actions or approvals which, by the terms of this Agreement or any of the Security, the Collateral Agents are permitted or required to take or to grant, and the Collateral Agents shall be absolutely entitled to refrain from taking any such action or to withhold any such approval and shall not be under any liability whatsoever as a result thereof until it shall have received such instructions from the Purchasers’ Administrative Agent and/or the PurchasersLenders. The Purchasers’ Administrative Agent and the Purchasers Lenders shall not have any right of action whatsoever against the Collateral Agents as a result of the Collateral Agents acting or refraining from acting under the Security in accordance with instructions from the Purchasers’ Administrative Agent or the PurchasersLenders. The Collateral Agents shall in all cases be fully justified in failing or refusing to take or continue any action under the Security unless it shall have received further assurances to its satisfaction from the Purchasers Lenders of their indemnification obligations under Section 21.10 11.10 of this Agreement against any and all liability and expense which may be incurred by it by reason of taking or continuing to take such action, and unless it shall be secured in respect thereof as it may deem appropriate.

Appears in 1 contract

Sources: Credit Agreement (Solaris Resources Inc.)

Requests for Instructions. The Collateral Agents Agent may at any time request instructions from the Purchasers’ Administrative Agent and/or the Purchasers Lenders with respect to any actions or approvals which, by the terms of this Agreement or any of the Security, the Collateral Agents are Agent is permitted or required to take or to grant, and the Collateral Agents Agent shall be absolutely entitled to refrain from taking any such action or to withhold any such approval and shall not be under any liability whatsoever as a result thereof until it shall have received such instructions from the Purchasers’ Administrative Agent and/or the PurchasersLenders. The Purchasers’ Administrative Agent and the Purchasers Lenders shall not have any right of action whatsoever against the Collateral Agents Agent as a result of the Collateral Agents Agent acting or refraining from acting under the Security in accordance with instructions from the Purchasers’ Administrative Agent or the PurchasersLenders. The Collateral Agents Agent shall in all cases be fully justified in failing or refusing to take or continue any action under the Security unless it shall have received further assurances to its satisfaction from the Purchasers Lenders of their its indemnification obligations under Section 21.10 11.10 of this Agreement against any and all liability and expense which may be incurred by it by reason of taking or continuing to take such action, and unless it shall be secured in respect thereof as it may deem appropriate.

Appears in 1 contract

Sources: Credit Agreement (Skeena Resources LTD)