Common use of Duties in the Case of Enforcement Clause in Contracts

Duties in the Case of Enforcement. In case one or more Events of Default have occurred and shall be continuing, and whether or not acceleration of the Obligations shall have occurred, the Agent shall, if (a) so requested by the Required Banks and (b) the Banks have provided to the Agent such additional indemnities and assurances against expenses and liabilities as the Agent may reasonably request, proceed to enforce the provisions of this Agreement and exercise all or any such other legal and equitable and other rights or remedies as it may have in respect of enforcement of the Banks’ rights against the Borrower and its Subsidiaries under this Agreement and the other Loan Documents. The Required Banks may direct the Agent in writing as to the method and the extent of any such enforcement, the Banks (including any Bank which is not one of the Required Banks) hereby agreeing to ratably and severally indemnify and hold the Agent harmless from all liabilities incurred in respect of all actions taken or omitted in accordance with such directions, provided that the Agent need not comply with any such direction to the extent that the Agent reasonably believes the Agent’s compliance with such direction to be unlawful or commercially unreasonable in any applicable jurisdiction.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Properties Inc)

AutoNDA by SimpleDocs

Duties in the Case of Enforcement. In case one or more --------------------------------- Events of Default have occurred and shall be continuing, and whether or not acceleration of the Obligations shall have occurred, the Agent shall, if (a) so requested by the Required Majority Banks and (b) the Banks have provided to the Agent such additional indemnities and assurances against expenses and liabilities as the Agent may reasonably request, proceed to enforce the provisions of this Agreement and exercise all or any such other legal and equitable and other rights or remedies as it may have in respect of enforcement of the Banks' rights against the Borrower Borrower, the Guarantor and its their respective Subsidiaries under this Agreement and the other Loan Documents. The Required Majority Banks may direct the Agent in writing as to the method and the extent of any such enforcement, the Banks (including any Bank which is not one of the Required Majority Banks) hereby agreeing to ratably and severally indemnify and hold the Agent harmless from all liabilities incurred in respect of all actions taken or omitted in accordance with such directions, provided that the Agent need not comply with any such direction to the extent that the Agent reasonably believes the Agent’s 's compliance with such direction to be unlawful or commercially unreasonable in any applicable jurisdiction.

Appears in 1 contract

Samples: Credit Agreement (Boston Properties Inc)

Duties in the Case of Enforcement. In case one or more Events of Default have occurred and shall be continuing, and whether or not acceleration of the Obligations shall have occurred, the Agent shall, if (a) so requested by the Required Banks Lenders and (b) the Banks Lenders have provided to the Agent such additional indemnities and assurances against expenses and liabilities as the Agent may reasonably request, proceed to enforce the provisions of this Agreement and exercise all or any such other legal and equitable and other rights or remedies as it may have in respect of enforcement of the Banks’ rights against the Borrower and its Subsidiaries under this Agreement and the other Loan DocumentsBorrowers' assets. The Required Banks Lenders may direct direct, subject to the terms of any intercreditor agreement among the Agent and the Lenders, the Agent in writing as to the method and the extent of any such enforcementsale or other disposition of said assets, the Banks (including any Bank which is not one of the Required Banks) Lenders hereby agreeing to ratably and severally indemnify and hold the Agent harmless from all liabilities incurred in respect of all actions taken or omitted in accordance with such directions, provided that the Agent need not comply with any such direction to the extent that the Agent reasonably believes that the Agent’s 's compliance with such direction to be unlawful or commercially unreasonable in any applicable jurisdiction.

Appears in 1 contract

Samples: Master Credit Agreement (Entertainment Properties Trust)

Duties in the Case of Enforcement. In case one or more Events of Default have occurred and shall be continuing, and whether or not acceleration of the Obligations shall have occurred, the Agent shall, if (a) so requested by the Required Requisite Banks and (b) the Banks have provided to the Agent such additional indemnities and assurances in accordance with their respective Commitment Percentages against expenses and liabilities as the Agent may reasonably request, proceed to enforce the provisions of this Agreement and exercise all or any such other legal and equitable and other rights or remedies as it may have in respect of enforcement of the Banks’ rights against the Borrower and its Subsidiaries under this Agreement and the other Loan Documentshave. The Required Requisite Banks may direct the Agent in writing as to the method and the extent of any such enforcementexercise, the Banks (including any Bank which is not one of the Required Banks) hereby agreeing to ratably and severally indemnify and hold the Agent harmless in accordance with their respective Commitment Percentages from all liabilities incurred in respect of all actions taken or omitted in accordance with such directions, provided that the Agent need not comply with any such direction to the extent that the Agent reasonably believes the Agent’s 's compliance with such direction to be unlawful in any applicable jurisdiction or commercially unreasonable under the Uniform Commercial Code as enacted in any applicable jurisdiction.

Appears in 1 contract

Samples: Revolving Credit Agreement (Crescent Real Estate Equities Co)

Duties in the Case of Enforcement. 12.11.1 In case one or more Events of Default have occurred occur and shall be continuingcontinue, and whether or not acceleration of the Obligations shall have occurred, the Agent shall, if (ai) so requested by all of the Required Banks Banks, and (bii) the Banks have provided to the Agent such additional indemnities and assurances against expenses and liabilities as the Agent may reasonably request, proceed to enforce the provisions of this Agreement the Credit Documents and exercise all or any such other legal and equitable and other rights or remedies as it may have in respect of enforcement of the Banks’ rights against the Borrower and its Subsidiaries under this Agreement and the other Loan Documentshave. The Required Such Banks may direct the Agent in writing as to the method and the extent of any such enforcementexercise of its rights, the Banks (including any Bank which is not one of the Required Banks) hereby agreeing to ratably and severally indemnify and hold the Agent harmless from all liabilities incurred in respect of all actions actions, except for the Agent's willful misconduct or gross negligence, taken or omitted in accordance with such directions, provided PROVIDED that the Agent need not comply with any such direction to the extent that the Agent reasonably believes the Agent’s 's compliance with such direction to be unlawful or commercially unreasonable in any applicable jurisdiction.

Appears in 1 contract

Samples: Credit Agreement (Bacou Usa Inc)

AutoNDA by SimpleDocs

Duties in the Case of Enforcement. In case one or more Events of Default have occurred and shall be continuing, and whether or not acceleration of the Obligations shall have occurred, the Agent shall, if (a) so requested by the Required Banks Lender or Lenders whose aggregate principal amount of the outstanding Loans are greater than fifty percent (50%) of the Total Commitment provided that in the event that one Lender has an aggregate principal amount of the outstanding Loans equal to or greater than such percentage (the “Sole Majority Lender”) then the definition of Majority Lenders shall include the Sole Majority Lender and (b) the Banks a minimum of one other Lenders have provided to the Agent such additional indemnities and assurances against expenses and liabilities as the Agent may reasonably request, proceed to enforce the provisions of this Agreement and exercise all or any such other legal and equitable and other rights or remedies as it may have in respect of enforcement of the Banks’ rights against the Borrower and its Subsidiaries under this Agreement and the other Loan Documentshave. The Required Banks Majority Lenders may direct the Agent in writing as to the method and the extent of any such enforcementexercise, the Banks (including any Bank which is not one of the Required Banks) Lenders hereby agreeing to ratably and severally indemnify and hold the Agent harmless from all liabilities incurred in respect of all actions taken or omitted in accordance with such directions, provided that the Agent need not comply with any such direction to the extent that the Agent reasonably believes the Agent’s compliance with such direction to be unlawful or commercially unreasonable in any applicable jurisdiction.

Appears in 1 contract

Samples: Entire Agreement (California Coastal Communities Inc)

Duties in the Case of Enforcement. In case one or of more Events of ---------------------------------- Default have occurred and shall be continuing, and whether or not acceleration of the Obligations shall have occurred, the Agent shall, if (ai) so requested by the Required Majority Banks and (bii) the Banks have provided to the Agent and/or the Collateral Agent such additional indemnities and assurances against expenses and liabilities as the Agent and the Collateral Agent may reasonably request, direct the Collateral Agent to proceed to enforce the provisions of this Agreement the Security Documents authorizing the sale or other disposition of all or any part of the Collateral and exercise all or any such other legal and equitable and other rights or remedies as it may have in respect of enforcement of the Banks’ rights against the Borrower and its Subsidiaries under this Agreement and the other Loan Documentssuch Collateral. The Required Majority Banks may request in writing that the Agent direct the Collateral Agent in writing as to the method and the extent of any such enforcementsale or other disposition, the Banks (including any Bank which is not one of the Required Banks) hereby agreeing to ratably and severally indemnify and hold the Agent and/or the Collateral Agent, harmless from all liabilities incurred in respect of all actions taken or omitted in accordance with such requests and directions, provided that the Agent need not comply with any such direction to the extent that the Agent reasonably believes the Agent’s 's compliance with such direction to be unlawful or commercially unreasonable in any applicable jurisdiction.

Appears in 1 contract

Samples: Revolving Credit Agreement (Fairfield Communities Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!