Common use of Actions Upon Breach Clause in Contracts

Actions Upon Breach. (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in any action or proceeding against Company, any other Grantor or the Collateral, the First Lien Collateral Agent may interpose in the name of the First Lien Secured Parties or in the name of Company or such Grantor the making of this Agreement as a defense or dilatory plea.

Appears in 4 contracts

Samples: Security Agreement (Emdeon Inc.), First Lien Security Agreement (Emdeon Inc.), Security Agreement (Emdeon Inc.)

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Actions Upon Breach. (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in any action or proceeding against Company, any other Grantor the Borrowers or the Collateral, the First Lien Collateral Agent may interpose in Borrowers, with the name prior written consent of the First Lien Agent, may interpose as a defense or dilatory plea the making of this Agreement, and any First Lien Secured Parties Party may intervene and interpose such defense or plea in its or their name or in the name of Company either Borrower or such Grantor the making of this Agreement both Borrowers, as a defense or dilatory pleaapplicable.

Appears in 2 contracts

Samples: Intercreditor and Collateral Agency Agreement (PostRock Energy Corp), Intercreditor and Collateral Agency Agreement (PostRock Energy Corp)

Actions Upon Breach. (a) If In each case, if any Second Lien Secured Party, contrary to except as permitted by this Agreement, commences or participates in any action or proceeding against Company, any other Grantor with respect to the Collateral or against the Collateral, the First Lien Collateral Agent may interpose in the name of the any First Lien Secured Parties Party may intervene and interpose as a defense or dilatory plea the making of this Agreement, in its name or in the name of Company or such Grantor the making of this Agreement as a defense or dilatory pleaGrantor.

Appears in 2 contracts

Samples: Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.)

Actions Upon Breach. (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in any action or proceeding against Company, any other Grantor the Borrower or the Collateral, the Borrower, with the prior written consent of the First Lien Collateral Agent Agent, may interpose as a defense or dilatory plea the making of this Agreement, and any First Lien Secured Party may intervene and interpose such defense or plea in its or their name or in the name of the First Lien Secured Parties or in the name of Company or such Grantor the making of this Agreement Borrower, as a defense or dilatory pleaapplicable.

Appears in 2 contracts

Samples: And Collateral Agency Agreement (Quest Resource Corp), Credit Agreement (Quest Energy Partners, L.P.)

Actions Upon Breach. (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in any action or proceeding against Company, any other Grantor the Borrower or the Common Collateral, the Borrower, with the prior written consent of the First Lien Collateral Agent Agent, may interpose as a defense or dilatory plea the making of this Agreement, and any First Lien Secured Party may intervene and interpose such defense or plea in its or their name or in the name of the First Lien Secured Parties or in the name of Company or such Grantor the making of this Agreement Borrower, as a defense or dilatory pleaapplicable.

Appears in 2 contracts

Samples: Intercreditor Agreement (Quest Energy Partners, L.P.), Intercreditor Agreement (Quest Resource Corp)

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Actions Upon Breach. (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in any action or proceeding Enforcement Action against Company, any other Grantor or the Collateral, the First Lien Collateral Administrative Agent may intervene and may interpose in the name of the First Lien Secured Parties or in the name of Company any Borrower or such Grantor the making of this Agreement as a defense or dilatory plea.

Appears in 2 contracts

Samples: Credit Agreement (PGA Holdings, Inc.), Credit Agreement (PGA Holdings, Inc.)

Actions Upon Breach. (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in any action or proceeding against Company, any other Grantor with respect to the Collateral or against the Collateral, the First Lien Collateral Agent may interpose in the name of the any First Lien Secured Parties Party may intervene and interpose as a defense or dilatory plea the making of this Agreement, in its name or in the name of Company or such Grantor the making of this Agreement as a defense or dilatory pleaGrantor.

Appears in 1 contract

Samples: Intercreditor Agreement (Penson Worldwide Inc)

Actions Upon Breach. (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in any action or proceeding against Company, any other Grantor or the Collateral, the First Lien Collateral Agent such Grantor may interpose in as a defense or dilatory plea the name making of the this Agreement, and any First Lien Secured Parties Party may intervene and interpose such defense or plea in its or their name or in the name of Company or such Grantor the making of this Agreement as a defense or dilatory pleaGrantor.

Appears in 1 contract

Samples: Intercreditor Agreement (Eastman Kodak Co)

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