Coordinated Efforts Clause Samples
Coordinated Efforts. It is to the mutual advantage of the Parties to this Agreement to coordinate efforts for the prevention, detection and response to wildfires, fuels management, suppression, non-wildland fire emergencies (as authorized), and cooperative projects for resource and protection objectives in and adjacent to their areas of responsibility, and to limit duplication and improve efficiency and effectiveness. The Parties agree that wildland fire protection services are best managed by designation of defined protection areas with the primary intention of providing cost effective suppression services and minimizing unnecessary duplication of suppression systems (620 DM 2.4). Each of the protection areas will have an assigned agency that provides operational and tactical oversight.
Coordinated Efforts. (a) The Preferred Lenders each agree to use commercially reasonable efforts to coordinate efforts, cooperate and act in a manner likely to obtain maximum liquidation value and return to each of the Preferred Lenders in the event of any Borrower Default, including in the exercise of any foreclosure, liquidation, enforcement or other rights and remedies as a Preferred Lender (whether in an action initiated by any Preferred Lender after any Preferred Lender Standstill Period or otherwise), and in and the exercise and enforcement of the Preferred Lenders rights under this Agreement.
(b) In the event of a Borrower Default or a breach by any Subordinated Creditor of its obligations hereunder, the Preferred Lenders each agree not to commence any action or proceeding against the Borrower to recover all or any part of the Preferred Lender Debt, or join with any creditor (unless the Preferred Lenders shall both so join) in bringing any proceeding against the Borrower under any bankruptcy, reorganization, readjustment of debt, arrangement of debt receivership, liquidation or insolvency law or statute of the federal or any state government, or take possession of, sell, or dispose of any item that comprises “Collateral” pursuant to the terms of any of the Security Agreements entered into with respect to the Preferred Lender Debt (“Collateral”), or exercise or enforce any right or remedy available to a Preferred Lender with respect to any such Collateral. Notwithstanding anything to the contrary set forth in this Section 2.2, upon five (5) business days’ prior written notice to the other Preferred Lender after expiration of the Preferred Lender Standstill Period (as defined below), either Preferred Lender may exercise any rights or remedies they may have against Borrower whether by judicial or non-judicial foreclosure or otherwise; provided, that the non-initiating Preferred Lender shall have the right, but not the obligation, to join any such action as a co-plaintiff (or other co-moving party, however denominated), at its own expense. “Preferred Lender Standstill Period” means the period beginning on the occurrence of an event of default under any of the agreements between the Preferred Lenders and Borrower and ending on the date that is thirty (30) days following the date after either Preferred Lender shall have given notice to the other Preferred Lender and to Borrower that such event of default shall have occurred and be continuing and of the intent of any of said P...
Coordinated Efforts. (a) The Secured Parties each agree to use commercially reasonable efforts to coordinate efforts, cooperate and act in a manner likely to obtain maximum liquidation value and return to the Secured Parties in the event of any defaults by SHU, Ohana or the Pledgors under the Development Agreement, the Notes or any of the Security Documents, and the exercise of any foreclosure, liquidation, enforcement or other rights and remedies as a secured party.
(b) In the event of a Seller Event of Default under the Development Agreement, or a default under the SPI Note, HPL Note, or any of the Security Documents, no Secured Party shall have the right to declare an event of default or commence any foreclosure or enforcement action under any Security Document without the consent of the other party, which consent shall not be unreasonably withheld, conditioned or delayed.
(c) Notwithstanding the foregoing, the requirement set forth in Section 2.2(b) shall not apply when a Secured Party has failed to make any Cash Advance payments required of it pursuant to the terms of the Development Agreement (“Defaulting Party”) and the other Secured Party has made the required Cash Advance payments in the amount then due by the Defaulting Party pursuant to Section 2.2.1(b)(iv) of the Development Agreement (“Non-Defaulting Party”) and, in such event, the Non-Defaulting Party may thereafter exercise all such rights and take such actions described in Section 2.2(b) above, as determined in its sole discretion.
Coordinated Efforts. Subcontractor shall advise IJIS of the individuals available for placement and IJIS shall have the right to accept or reject any individual presented for placement. IJIS and Subcontractor shall develop appropriate procedures to assure timely and appropriate coordination of the Services. IJIS shall provide such information and assistance as is reasonably required to permit Subcontractor to perform the Services.
Coordinated Efforts. After execution of this Agreement, Global and its personnel shall work diligently with IAHC and its personnel to ensure an orderly transition of GCH’s and GCFX’s policies, systems and controls so that they comply with laws and regulations applicable to IAHC, as well as IAHC’s policies, systems and procedures that will become applicable to GCH and GCFX.