Independent action by Banks. None of the Banks shall enforce, exercise any rights, remedies or powers or grant any consents or releases under or pursuant to, or otherwise have a direct recourse to the security and/or guarantees constituted by any of the Security Documents without the prior written consent of the Majority Lenders but, provided such consent has been obtained, it shall not be necessary for any other Bank to be joined as an additional party in any Proceedings for this purpose.
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Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (EuroDry Ltd.), Facility Agreement (Euroseas Ltd.)
Independent action by Banks. None of the Banks shall enforce, exercise any rights, remedies or powers or grant any consents or releases under or pursuant to, or otherwise have a direct recourse to the security and/or guarantees constituted by any of the Security Documents without the prior written consent of the Majority Lenders but, provided such consent has been obtained, it shall not be necessary for any other Bank to be joined as an additional party in any Proceedings for this purpose.. 53
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Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Independent action by Banks. None of the Banks shall enforce, exercise any rights, remedies or powers or grant any consents or releases under or pursuant to, or otherwise have a direct recourse to the security and/or guarantees constituted by any of the Security Documents without the prior written consent of the Majority Lenders but, provided such consent has been obtained, it shall not be necessary for any other Bank to be joined as an additional party in any Proceedings for this purpose.. 50 Table of Contents
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Independent action by Banks. None Without prejudice to clause 2.3, none of the Banks shall enforce, exercise any rights, remedies or powers or grant any consents or releases under or pursuant to, or otherwise have a direct recourse to the security and/or guarantees constituted by any of the Security Documents without the prior written consent of the Majority Lenders Banks but, provided Provided such consent has been obtained, it shall not be necessary for any other Bank Creditor to be joined as an additional party in any Proceedings proceedings for this purpose.
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