Common use of Finance Parties acting together Clause in Contracts

Finance Parties acting together. Notwithstanding clause 2.2 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent), take such action on behalf of the Finance Parties and conduct such negotiations with the Parent and any members of the Group and generally administer the Facility in accordance with the wishes of the Required Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Lenders. This clause shall not override clause 27 (Roles of Agent, Security Agent, Mandated Lead Arrangers and Bookrunners) as it applies to the Security Agent.

Appears in 2 contracts

Samples: Secured Credit Facility Agreement, Secured Credit Facility Agreement (Seadrill Partners LLC)

AutoNDA by SimpleDocs

Finance Parties acting together. Notwithstanding clause 2.2 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 27.21 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrower and any members of the Group Members and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 30 (Roles of Agent, Security Agent, Mandated Lead Arrangers Agent and Bookrunnersthe Arranger) as it applies to the Security Agent.

Appears in 2 contracts

Samples: Facility Agreement (Teekay Tankers Ltd.), Facility Agreement (Teekay Tankers Ltd.)

Finance Parties acting together. Notwithstanding clause 2.2 2.3 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 31.23 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrowers and any members of the Group Members and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 (Roles of Agent, Security Agent, Mandated Lead Arrangers and Bookrunners) as it applies to the Security Agent.

Appears in 1 contract

Samples: Loan Facility Agreement (Navigator Holdings Ltd.)

Finance Parties acting together. Notwithstanding clause 2.2 2.3 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 30.21 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrower and any members of the Group Members and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 (Roles of Agent, Security Agent, Mandated Lead Arrangers and Bookrunners) as it applies to the Security Agent.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

Finance Parties acting together. Notwithstanding clause 2.2 2.3 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 31.23 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrowers and any members of the Group Members and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 35 (Roles of Agent, Security Agent, Mandated Lead Arrangers Agent and BookrunnersArranger) as it applies to the Security Agent.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

Finance Parties acting together. Notwithstanding clause 2.2 (Finance Parties' rights and obligations), if the Agent makes a declaration under clause 25.17 30.24 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrowers and any members of the Group other Obligors and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 34 (Roles of Agent, Security Agent, Mandated Lead Arrangers Agent and BookrunnersArranger) as it applies to the Security Agent.

Appears in 1 contract

Samples: Facility Agreement (DryShips Inc.)

Finance Parties acting together. Notwithstanding clause 2.2 (Finance Parties' rights and obligations), if the Agent makes a declaration under clause 25.17 30.23 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrower and any members of the Group Members and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 34 (Roles of Agent, Security Agent, Mandated Lead Arrangers Agent and BookrunnersArrangers) as it applies to the Security Agent.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

Finance Parties acting together. Notwithstanding clause 2.2 2.3 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 30.22 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrower and any members of the Group Members and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 (Roles of Agent, Security Agent, Mandated Lead Arrangers and Bookrunners) as it applies to the Security Agent.

Appears in 1 contract

Samples: Facility Agreement (Navigator Holdings Ltd.)

AutoNDA by SimpleDocs

Finance Parties acting together. Notwithstanding clause 2.2 2.4 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 30.23 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrowers and any members of the Group Members and generally administer the Facility Facilities in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 34 (Roles of Agent, Security Agent, Mandated Lead Arrangers Agent and BookrunnersArrangers) as it applies to the Security Agent.

Appears in 1 contract

Samples: Loan Agreement (Navigator Holdings Ltd.)

Finance Parties acting together. Notwithstanding clause 2.2 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 30.23 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrowers and any members of the Group Members and generally administer the Facility in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 34 (Roles of Agent, Security Agent, Mandated Lead Arrangers Agent and BookrunnersArranger) as it applies to the Security Agent.

Appears in 1 contract

Samples: Facility Agreement (Quintana Shipping Ltd.)

Finance Parties acting together. Notwithstanding clause Clause 2.2 (Finance Parties’ rights Rights and obligationsObligations), if the Agent makes a declaration under clause Clause 25.17 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent), take such action on behalf of the Finance Parties and conduct such negotiations with the Parent and any members of the Group and generally administer the Facility in accordance with the wishes of the Required Lenders. All the Finance Parties shall be bound by the provisions of this clause Clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Lenders. This clause shall not override clause Clause 27 (Roles of Agent, Security Agent, Mandated Lead Arrangers and Bookrunners) as it applies to the Security Agent.

Appears in 1 contract

Samples: China Eca Facility Framework Agreement (Seadrill Partners LLC)

Finance Parties acting together. Notwithstanding clause 2.2 2.3 (Finance Parties’ rights and obligations), if the Agent makes a declaration under clause 25.17 30.21 (Acceleration) the Agent shall, in the names of all the Finance Parties (other than the Security Agent)Parties, take such action on behalf of the Finance Parties and conduct such negotiations with the Parent Borrower and any members of the Group Members and generally administer the Facility Facilities in accordance with the wishes of the Required Majority Lenders. All the Finance Parties shall be bound by the provisions of this clause 28.2 and no Finance Party shall be entitled to take action independently against any Obligor or any of its assets without the prior consent of the Required Majority Lenders. This clause shall not override clause 27 (Roles of Agent, Security Agent, Mandated Lead Arrangers and Bookrunners) as it applies to the Security Agent.

Appears in 1 contract

Samples: Supplemental Agreement (Navigator Holdings Ltd.)

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