Common use of Authorized Actions Clause in Contracts

Authorized Actions. Subordinated Creditor authorizes Senior Creditors and/or the Collateral Agent, in their discretion, with prior written notice to Subordinated Creditor, irrespective of any change (including any change in the financial condition of Debtor, Subordinated Creditor, any guarantor or any other Person) or of any other event or circumstance, and without affecting or impairing in any way the obligations of Subordinated Creditor or the rights of Senior Creditors hereunder, from time to time to (a) compromise, extend, accelerate or otherwise change the time for payment or performance of, or otherwise change the terms of, the Senior Debt or any part thereof, including increase or decrease of the rate of interest thereon; (b) take and hold Collateral or other security for the payment or performance of the Senior Debt and exchange, enforce, waive or release any such Collateral or other security; (c) apply such Collateral or other security and direct the order or manner of sale thereof; (d) purchase such Collateral or other security at public or private sale; (e) otherwise exercise any right or remedy it may have against Debtor, any guarantor, any other Person or any Collateral or other security, including the right to foreclose upon any Collateral by judicial or non-judicial sale; (f) settle, compromise with, release or substitute any one or more makers, endorsers or guarantors of the Senior Debt; or (g) assign any or all of the Senior Debt, this Subordination Agreement, or any related documents, instruments or agreements in whole or in part.

Authorized Actions. Subordinated Creditor Each Guarantor authorizes Senior Creditors and/or the Collateral Agent, Agent and the Banks in their discretion, with prior written without notice to Subordinated Creditorsuch Guarantor, irrespective of any change (including any change in the financial condition of Debtorthe Borrower, Subordinated Creditor, any guarantor such Guarantor or any other Person) or of any other event or circumstanceGuarantor since the date hereof, and without affecting or impairing in any way the obligations liability of Subordinated Creditor or the rights of Senior Creditors such Guarantor hereunder, from time to time to (a) create new Guaranteed Obligations and, either before or after receipt of notice of revocation, renew, compromise, extend, accelerate or otherwise change the time for payment or performance of, or otherwise change the terms of, of the Senior Debt Guaranteed Obligations or any part thereof, including increase or decrease of the rate of interest thereon; (b) take and hold Collateral or other security for the payment or performance of the Senior Debt Guaranteed Obligations and exchange, enforce, waive or release any such Collateral or other security; (c) apply such Collateral or other security and direct the order or manner of sale thereof; (d) purchase such Collateral or other security at public or private sale; (e) otherwise exercise any right or remedy it may have against Debtorthe Borrower, any guarantorsuch Guarantor, any other Person Guarantor or any Collateral or other security, including including, without limitation, the right to foreclose upon any Collateral such security by judicial or non-judicial sale; (f) settle, compromise with, release or substitute any one or more makers, endorsers or guarantors of the Senior DebtGuaranteed Obligations; or and (g) subject to ss.21, assign any or all the Guaranteed Obligations, the provisions of the Senior Debt, this Subordination Agreementss.29, or any related documents, instruments or agreements of the Loan Documents in whole or in part.

Authorized Actions. Subordinated Creditors authorize Senior Creditor authorizes Senior Creditors and/or the Collateral Agent, in their its discretion, with prior written without notice to Subordinated CreditorCreditors, irrespective of any change (including any change in the financial condition of Debtor, Subordinated CreditorCreditors, any guarantor or any other Person) or of any other event or circumstance, and without affecting or impairing in any way the obligations of Subordinated Creditor Creditors or the rights of Senior Creditors Creditor hereunder, from time to time to (a) compromise, extend, accelerate or otherwise change the time for payment or performance of, or otherwise change the terms of, the Senior Debt or any part thereof, including increase or decrease of the rate of interest thereon; (b) take and hold Collateral or other security for the payment or performance of the Senior Debt and exchange, enforce, waive or release any such Collateral or other security; (c) apply such Collateral or other security and direct the order or manner of sale thereof; (d) purchase such Collateral or other security at public or private sale; (e) otherwise exercise any right or remedy it may have against Debtor, any guarantor, any other Person or any Collateral or other security, including the right to foreclose upon any Collateral by judicial or non-judicial nonjudicial sale; (f) settle, compromise with, release or substitute any one or more makers, endorsers or guarantors of the Senior Debt; or (g) assign any or all of the Senior Debt, this Subordination Agreement, or any related documents, instruments or agreements in whole or in part.