Common use of Security Agents Clause in Contracts

Security Agents. If a Security Agent proposes an adjustment or revision to borrowing base eligibility standards or reserves, or makes any other proposal regarding a determination or action which may be made by the Security Agents pursuant to this Agreement or any Security Document, the other Security Agent shall respond to such proposal within three Business Days. In the event that the Security Agents cannot agree on borrowing base eligibility standards, reserves or any other action or determination which may be made by the Security Agents pursuant to this Agreement or any Security Document (subject to Section 9.05(a) hereof), the determination shall be made by the individual Security Agent either asserting the more conservative credit judgment or declining to permit the requested action for which consent is being sought by the Borrowers, as applicable.