Common use of Impairment of Rights Clause in Contracts

Impairment of Rights. It shall not take any action, or fail to take any action, if such action or failure to take action (x) is reasonably likely to have a Material Adverse Effect or (y) is reasonably likely to interfere with the enforcement of any rights of the Insurer under or with respect to any of the Transaction Documents. It shall give the Insurer written notice of any such action or failure to act promptly prior to the date of consummation of such action or failure to act. It shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 13 contracts

Samples: Insurance and Indemnity Agreement (United Pan Am Financial Corp), Insurance and Indemnity Agreement (AmeriCredit Automobile Receivables Trust 2004-C-A), Insurance and Indemnity Agreement (Triad Financial Special Purpose LLC)

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Impairment of Rights. It shall not take any action, or fail to take any action, if such action or failure to take action (x) is reasonably likely to have a Material Adverse Effect or (y) is reasonably likely to interfere with the enforcement of any rights of the Insurer under or with respect to any of the Transaction Documents. It shall give the Insurer written notice of any such action or failure to act promptly prior to the date of consummation of such action or failure to act. It shall furnish to the Insurer all information requested by it the Insurer that is reasonably necessary to determine compliance with this paragraph.

Appears in 10 contracts

Samples: Insurance and Indemnity Agreement (AmeriCredit Automobile Receivables Trust 2004-C-A), Insurance and Indemnity Agreement (Triad Financial Special Purpose LLC), Insurance and Indemnity Agreement (Triad Financial Special Purpose LLC)

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