Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDED, THAT until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 4 contracts
Samples: Credit Agreement (Metal Management Inc), Credit Agreement (Hutchinson Products Corp), Credit Agreement (Metal Management Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDEDprovided, THAT that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 4 contracts
Samples: Credit Agreement (Imagyn Medical Technologies Inc), Credit Agreement (Florsheim Group Inc), Credit Agreement (Florsheim Group Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Required Lenders; PROVIDEDprovided that, THAT until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Sterile Recoveries Inc), Credit Agreement (Penske Motorsports Inc), Credit Agreement (Fresh Foods Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDED, THAT until . Until the Agent shall have received such directions, the Agent may act (but shall or not be obligated toact) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem deems advisable and in the best interests of the Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Perry-Judds Inc), Credit Agreement (Aerosol Services Co Inc), Credit Agreement (Mobile Mini Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDED, THAT provided that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Di Giorgio Corp), Credit Agreement (Riverside Group Inc/Fl), Credit Agreement (Wickes Lumber Co /De/)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDED, THAT that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Metal Management Inc), Post Petition Credit Agreement (Metal Management Inc), Credit Agreement (Metal Management Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Aggregate Required Lenders or all of the Lenders, as the case may be; PROVIDEDprovided that, THAT until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)
Actions with Respect to Defaults. In addition to the -------------------------------- Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDED, THAT until . Until the Agent shall have received such directions, the Agent may act (but shall or not be obligated toact) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem deems advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Envirodyne Industries Inc), Credit Agreement (Rental Service Corp)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Required Lenders; PROVIDEDprovided, THAT that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Metal Management Inc), Credit Agreement (Metal Management Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit AgreementAgreement and the other Credit Documents, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDED, THAT provided that until the Agent shall have -------- received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Wickes Inc), Credit Agreement (Wickes Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Required Lenders; PROVIDEDprovided, THAT that, until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Fieldcrest Cannon Inc), Credit Agreement (MST Enterprises Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Required Lenders or all of the Lenders, as the case may be; PROVIDEDPROVIDED that, THAT until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Required Lenders or all of the Lenders, as the case may be; PROVIDEDprovided that, THAT until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or an Event of Default as shall be directed by the Majority Required Lenders; PROVIDED, THAT that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
Actions with Respect to Defaults. In addition to the Agent's -------------------------------- right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or an Event of Default as shall be directed by the Majority Required Lenders; PROVIDED, THAT provided that until the Agent shall have received such directions, the -------- Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
Actions with Respect to Defaults. In addition to the -------------------------------- Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Requisite Lenders; PROVIDED, THAT until . Until the Agent shall have received such directions, the Agent may act (but shall or not be obligated toact) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem deems advisable and in the best interests of the Lenders.
Appears in 1 contract
Actions with Respect to Defaults. In addition to the Agent's ’s right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or an Event of Default as shall be directed by the Majority Required Lenders; PROVIDED, THAT provided that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority LendersLenders pursuant to Article 7; PROVIDED, THAT provided that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem to be advisable and in the best interests of the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Ameristeel Corp)
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Required Lenders; PROVIDEDPROVIDED that, THAT until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
Samples: Syndication Amendment and Assignment (Sterile Recoveries Inc)
Actions with Respect to Defaults. In addition to the Agent's right to -------------------------------- take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority Lenders; PROVIDED, THAT until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or an Event of Default as shall be directed by the Majority Required Lenders; PROVIDEDprovided, THAT that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Consumers Us Inc)
Actions with Respect to Defaults. In addition to the Agent's -------------------------------- right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or an Event of Default as shall be directed by the Majority Required Lenders; PROVIDED, THAT provided that until the Agent -------- shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
Actions with Respect to Defaults. In addition to the Agent's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to a Default or Event of Default as shall be directed by the Majority LendersLenders (or by the Majority Term Lenders pursuant to Section 9.2A hereof); PROVIDEDprovided, THAT that until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable and in the best interests of the Lenders.
Appears in 1 contract
