Certain Actions Permitted. The Term Agent and the ABL Agent may make such demands or file such claims in respect of the Term Obligations or the ABL Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any Term Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, the direct or indirect result of the Exercise of any Secured Creditor Remedies by the Term Agent or any Term Secured Party with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, is not the direct or indirect result of the Exercise of any Secured Creditor Remedies by the ABL Agent or any ABL Secured Party with respect to any of the Term Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None of the Term Agent, Term Secured Parties, ABL Agent or ABL Secured Parties shall take any other action in connection with the Term Obligations or the ABL Obligations in contravention of the terms of this Agreement (including if for any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable).
Appears in 2 contracts
Samples: Intercreditor Agreement (Overseas Shipholding Group Inc), Intercreditor Agreement (Overseas Shipholding Group Inc)
Certain Actions Permitted. The Term Cash Flow Agent, the ABL Agent and the ABL any Junior Agent may make such demands or file such claims in respect of the Term Cash Flow Obligations, the ABL Obligations or the ABL Junior Obligations, as applicablerespectively, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Cash Flow Agent or any Term Cash Flow Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Cash Flow Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the Term Cash Flow Agent or any Term Cash Flow Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any ABL Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the Term Cash Flow Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None Nothing in this Agreement shall prohibit the receipt by any Junior Agent or any Junior Secured Party of the Term Agentrequired payments of interest, Term Secured Parties, ABL principal and other amounts owed in respect of the Junior Obligations so long as such receipt is not the direct or indirect result of the exercise by such Junior Agent or ABL any Junior Secured Parties shall take Party of rights or remedies as a secured creditor (including set-off) with respect to any other action in connection with the Term Obligations Senior Collateral or the ABL Obligations enforcement in contravention of the terms of this Agreement (including if for of any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable)Lien held by any of them.
Appears in 2 contracts
Samples: Intercreditor Agreement (Avaya Inc), Intercreditor Agreement (Avaya Inc)
Certain Actions Permitted. The Term Agent and the ABL Agent may make such demands or file such claims in respect of the Term Obligations or the ABL Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any Term Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the Term Agent or any Term Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any ABL Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the Term Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None of the Term Agent, Term Secured Parties, ABL Agent or ABL Secured Parties shall take any other action in connection with the Term Obligations or the ABL Obligations in contravention of the terms of this Agreement (including if for any reason such party is deemed deemed, or is otherwise purporting to be acting in the capacity as, an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable).
Appears in 1 contract
Samples: Intercreditor Agreement (JOANN Inc.)
Certain Actions Permitted. The Term Agent and the ABL Each Secured Party Agent may make such demands or file such claims in respect of the Term Secured Obligations or owed to such Secured Party Agent and the ABL Obligations, as applicableSecured Creditors represented thereby, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time, or to file any claim, statement of interest, or proof of claim in any Insolvency Proceeding. Nothing in this Agreement shall prohibit the receipt by either the Term 2025 Notes Agent or any Term 2025 Notes Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term 2025 Notes Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the Term 2025 Notes Agent or any Term 2025 Notes Secured Party of rights or remedies as a secured creditor (including set-off) with respect to ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by either an Additional Agent or any Additional Creditor of the required payments of interest, principal and other amounts owed in respect of the Additional Obligations so long as such receipt is not the direct or indirect result of the exercise by such Additional Agent or any Additional Creditor of rights or remedies as a secured creditor (including set-off) with respect to ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any ABL Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the Term Non-ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None of the Term Agent, Term Secured Parties, ABL Agent or ABL Secured Parties shall take any other action in connection with the Term Obligations or the ABL Obligations in contravention of the terms of this Agreement (including if for any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable).
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Certain Actions Permitted. The Term Agent and the ABL Agent may make such demands or file such claims in respect of the Term Obligations or the ABL Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any other Term Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Obligations so long as such receipt is not, prior to the Discharge neither in contravention of ABL Obligations, Section 4.1(b) nor the direct or indirect result of the Exercise of any Secured Creditor Remedies by the Term Agent or any other Term Secured Party with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any other ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge receipt is neither in contravention of Term Obligations, is not Section 4.1(c) nor the direct or indirect result of the Exercise of any Secured Creditor Remedies by the ABL Agent or any other ABL Secured Party with respect to any of the Term Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None of the Term Agent, the other Term Secured Parties, the ABL Agent or the other ABL Secured Parties shall take any other action in connection with the Term Obligations or the ABL Obligations in contravention of the terms of this Agreement (including if for any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable).
Appears in 1 contract
Samples: Credit Agreement (Sportsman's Warehouse Holdings, Inc.)
Certain Actions Permitted. The Term Agent and the ABL Agent may make such demands or file such claims in respect of the Term Obligations or the ABL Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any Term Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the Term Agent or any Term Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any ABL Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the Term Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None of the Term Agent, Term Secured Parties, ABL Agent or ABL Secured Parties shall take any other action in connection with the Term Obligations or the ABL Obligations in contravention of the terms of this Agreement (including if for any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable).
Appears in 1 contract
Certain Actions Permitted. The Term Agent, the ABL Agent and the ABL any Junior Agent may make such demands or file such claims in respect of the Term Obligations, the ABL Obligations or the ABL Junior Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any Term Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the Term Agent or any Term Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any ABL Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the Term Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None Nothing in this Agreement shall prohibit the receipt by any Junior Agent or any Junior Secured Party of the Term Agentrequired payments of interest, Term Secured Parties, ABL principal and other amounts owed in respect of the Junior Obligations so long as such receipt is not (x) prohibited by the terms of any Senior Debt Documents or (y) the direct or indirect result of the exercise by such Junior Agent or ABL any Junior Secured Parties shall take Party of rights or remedies as a secured creditor (including set-off) with respect to any other action in connection with the Term Obligations Senior Collateral or the ABL Obligations enforcement in contravention of the terms of this Agreement (including if for of any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable)Lien held by any of them.
Appears in 1 contract
Certain Actions Permitted. The Term Agent, the ABL Agent and the ABL any Junior Agent may make such demands or file such claims in respect of the Term Obligations, the ABL Obligations or the ABL Junior Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any Term Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the Term Agent or any Term Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments 39168701_7 of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any ABL Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the Term Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None Nothing in this Agreement shall prohibit the receipt by any Junior Agent or any Junior Secured Party of the Term Agentrequired payments of interest, Term Secured Parties, ABL principal and other amounts owed in respect of the Junior Obligations so long as such receipt is not (x) prohibited by the terms of any Senior Debt Documents or (y) the direct or indirect result of the exercise by such Junior Agent or ABL any Junior Secured Parties shall take Party of rights or remedies as a secured creditor (including set-off) with respect to any other action in connection with the Term Obligations Senior Collateral or the ABL Obligations enforcement in contravention of the terms of this Agreement (including if for of any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable)Lien held by any of them.
Appears in 1 contract
Certain Actions Permitted. The Term Agent and the ABL Agent may make such demands or file such claims in respect of the Term Obligations or the ABL Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any other Term Secured Credit Party of the required payments of principal, interest, principal prepayment premiums (including make- whole amounts), fees, indemnities, and other amounts owed in respect of the Term Obligations expense reimbursements so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of (a) the Exercise of any Secured Creditor Remedies exercise by the Term Agent or any other Term Secured Credit Party with of rights or remedies as a secured creditor in respect to any of the ABL Priority Collateral prior to the Term Remedies Exercise Date, or (b) the enforcement in contravention of this Agreement of any Lien in respect of Term Obligations held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any other ABL Secured Party of the required payments of principal, interest, principal fees, indemnities, and other amounts owed in respect of the ABL Obligations expense reimbursements so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of (a) the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any other ABL Secured Party with of rights or remedies as a secured creditor in respect to any of the Term Priority Collateral prior to the ABL Remedies Exercise Date, or (b) the enforcement in contravention of this Agreement of any Lien in respect of ABL Obligations held by any of them. None of the Term Agent, Term Secured Parties, ABL Agent or ABL Secured Parties shall take any other action in connection with the Term Obligations or the ABL Obligations in contravention of the terms of this Agreement (including if for any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable).
Appears in 1 contract
Samples: Intercreditor Agreement (Zale Corp)
Certain Actions Permitted. The Term Agent, the ABL Agent and the ABL any Junior Agent may make such demands or file such claims in respect of the Term Obligations, the ABL Obligations or the ABL Junior Obligations, as applicable, as are necessary to prevent the waiver or bar of such claims under applicable statutes of limitations or other statutes, court orders, or rules of procedure at any time. Nothing in this Agreement shall prohibit the receipt by the Term Agent or any Term Secured Party of the required payments of interest, principal and other amounts owed in respect of the Term Obligations so long as such receipt is not, prior to the Discharge of ABL Obligations, not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the Term Agent or any Term Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the ABL Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall prohibit the receipt by the ABL Agent or any ABL Secured Party of the required payments of interest, principal and other amounts owed in respect of the ABL Obligations so long as such receipt, prior to the Discharge of Term Obligations, receipt is not the direct or indirect result of the Exercise of any Secured Creditor Remedies exercise by the ABL Agent or any ABL Secured Party of rights or remedies as a secured creditor (including set-off) with respect to any of the Term Priority Collateral or enforcement in contravention of this Agreement of any Lien held by any of them. None Nothing in this Agreement shall prohibit the receipt by any Junior Agent or any Junior Secured Party of the Term Agentrequired payments of interest, Term Secured Parties, ABL principal and other amounts owed in respect of the Junior Obligations so long as such receipt is not (x) prohibited by the terms of any Senior Debt Documents or (y) the direct or indirect result of the exercise by such Junior Agent or ABL any Junior Secured Parties shall take Party of rights or remedies as a secured creditor (including set-off) with respect to any other action in connection with the Term Obligations 39168701_7 Senior Collateral or the ABL Obligations enforcement in contravention of the terms of this Agreement (including if for of any reason such party is deemed an unsecured or undersecured creditor with respect to such Term Obligations or ABL Obligations, as applicable)Lien held by any of them.
Appears in 1 contract