Common use of Enforcement of Rights Clause in Contracts

Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equity, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e) shall occur, then the Commitments shall automatically terminate and all Loans, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate “creditor” holding a separate “claim” within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 20 contracts

Samples: Revolving Credit Agreement (Atmos Energy Corp), Revolving Credit Agreement (Atmos Energy Corp), Term Loan Agreement (Atmos Energy Corp)

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Enforcement of Rights. Enforce To the extent permitted by Law enforce any and all rights and interests created and existing under applicable Law and under the Credit Documents or otherwise available at law or in equityLoan Documents, including, without limitation, all rights of set-offset‑off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then the Commitments shall automatically terminate and all Loans, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations Borrower Obligations owing to the Lenders Administrative Agent and the Administrative Agent Lenders hereunder shall immediately become due and payable payable, in each case without the giving of any notice or other action by the Administrative Agent or the Lenders, which notice or other action is expressly waived by the Borrower. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by lawLaw, a separate right of payment and shall be considered a separate “creditor” holding a separate “claim” within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 6 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (Public Service Co of New Mexico)

Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then the Commitments shall automatically terminate and all Loans, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate "creditor" holding a separate "claim" within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 6 contracts

Samples: Revolving Credit Agreement (Atmos Energy Corp), 364 Day Revolving Credit Agreement (Atmos Energy Corp), Bridge Credit Agreement (Atmos Energy Corp)

Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then the Revolving Loan Commitments shall automatically terminate and all LoansBorrower Obligations, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate “creditor” holding a separate “claim” within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 5 contracts

Samples: Credit Agreement (Integrys Energy Group, Inc.), Credit Agreement (Integrys Energy Group, Inc.), Credit Agreement (Integrys Energy Group, Inc.)

Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then the Commitments shall automatically terminate and all Loans, all reimbursement obligations under Letters of Credit, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate "creditor" holding a separate "claim" within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 3 contracts

Samples: 364 Day Credit Agreement (Duke Energy Field Services LLC), 364 Day Credit Agreement (Duke Energy Field Services LLC), 364 Day Credit Agreement (Duke Energy Field Services LLC)

Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then the Revolving Loan Commitments shall automatically terminate and all LoansBorrower Obligations, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate "creditor" holding a separate "claim" within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 2 contracts

Samples: Credit Agreement (Wisconsin Public Service Corp), Credit Agreement (Wisconsin Public Service Corp)

Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-offset‑off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then (a) the Commitments shall automatically terminate and all Loans(b) the Loan, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate “creditor” holding a separate “claim” within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 2 contracts

Samples: Bridge Credit Agreement, Bridge Credit Agreement (Southern Co)

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Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then the Revolving Loan Commitments shall automatically terminate and all LoansBorrower Obligations, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be 68 considered a separate “creditor” holding a separate “claim” within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 1 contract

Samples: Credit Agreement (Integrys Energy Group, Inc.)

Enforcement of Rights. Enforce any and all rights and --------------------- interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then the Commitments shall automatically terminate and all Loans, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate "creditor" holding a separate "claim" within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 1 contract

Samples: Revolving Credit Agreement (Atmos Energy Corp)

Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents or otherwise available at law or in equityDocuments, including, without limitation, all rights of set-off. Notwithstanding the foregoing, if an Event of Default specified in Section 7.1(e9.1(e) shall occur, then (a) the Commitments shall automatically terminate and (b) all Loans, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable payable, without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate “creditor” holding a separate “claim” within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.

Appears in 1 contract

Samples: Term Loan Agreement (Alabama Power Co)

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