Action by Encumbrancer. An encumbrancer or lienor takes possession of any substantial part of the properties or assets of either of the Borrowers or any of their Material Subsidiaries, unless such Borrower or Material Subsidiary disputes and continues to dispute such possession in good faith and provides to the Administration Agent such security for the payment of such encumbrance or lien as the Administration Agent shall require;
Appears in 3 contracts
Samples: Credit Agreement (Pope & Talbot Inc /De/), Postponement Agreement (Pope & Talbot Inc /De/), Credit Agreement (Pope & Talbot Inc /De/)
Action by Encumbrancer. An encumbrancer or lienor takes possession of any substantial part of the properties or assets of either of the Borrowers or any of their Material SubsidiariesGroup Entity, unless such Borrower or Material Subsidiary Group Entity disputes and continues to dispute such possession in good faith and provides to the Administration Agent Lenders such security for the payment of such encumbrance or lien as the Administration Agent Lenders shall reasonably require;
Appears in 2 contracts
Samples: Credit Agreement (Sparkling Spring Water Group LTD), Credit Agreement (Crystal Springs of Seattle Inc)
Action by Encumbrancer. An encumbrancer or lienor takes possession of any substantial part of the properties or assets of either of the Borrowers or any of their the Material Subsidiaries, unless such Borrower or Material Subsidiary disputes and continues to dispute such possession in good faith and provides to the Administration Agent such security for the payment of such encumbrance or lien as the Administration Agent shall require;
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