Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a Subsidiary Guarantor on, any Subject Obligation of the Company to such Creditor or from instituting legal action against the Company or a Subsidiary Guarantor to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds received from a Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from the Subsidiary Guarantors on, any Subject Obligation of any Obligor to such Creditor or from instituting legal action against any Obligor or Subsidiary Guarantor or to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds received from the Subsidiary Guarantors in connection with any recovery under any Subsidiary Agreement (exclusive of recoveries arising from liens or security interests granted to other Creditors and not securing any Subsidiary Agreement) shall be subject to the terms of this Agreement.
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from any Subsidiary Guarantor on, any Subject Obligation of the Parent or THC Systems, Inc. to such Creditor or from instituting legal action against THC Systems, Inc. or the Parent or any Subsidiary Guarantor or THC Systems, Inc. in connection with a Sharing Payment to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds received from any Subsidiary Guarantor or THC Systems, Inc. in connection with a Sharing Payment in connection with any recovery therefrom shall be subject to the terms of this Agreement.
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from (a) accelerating the maturity of, or demanding payment from the Company on, any Obligation of the Company to such Creditor, (b) instituting legal action against the Company to obtain a judgment or other legal process in respect of such Obligation, (c) imposing a default rate of interest in accordance with the Bank Credit Agreement or the Note Agreements, as applicable, or (d) raising any defenses in any action in which it has been made a party defendant or has been joined as a third party, except that the Collateral Agent may direct and control any defense to the extent directly relating to the Collateral or any one or more of the Security Documents, subject to and in accordance with the provisions of this Agreement.
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from (a) accelerating the maturity of, or demanding payment from any of the Credit Parties on, any Obligation of the Credit Parties to such Creditor, (b) instituting legal action against any of the Credit Parties to obtain a judgment or other legal process in respect of such Obligation, (c) imposing a default rate of interest in accordance with the Note Purchase Agreement or other Credit Agreement, as applicable, or (d) raising any defenses in any action in which it has been made a party defendant or has been joined as a third party, except that the Security Agent may direct and control any defense to the extent directly relating to the Collateral or any one or more of the Security Documents, subject to and in accordance with the provisions of this Agreement.
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from any Credit Party on, any Subject Obligation or from instituting legal action against any such Person to obtain a judgment or other legal process in respect of any Subject Obligation, but any Shared Recoveries shall be subject to the terms of this Agreement.
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from (a) accelerating the maturity of, or demanding payment from any of the Credit Parties on, any Obligation of the Credit Parties to such Creditor, (b) instituting and pursuing legal action against any of the Credit Parties to obtain a judgment or other legal process in respect of such Obligation (including, without limitation, enforcing any such judgment against the assets of the Company, and Guarantor or any other person or entity so long as such assets are not subject to a Lien subject to the terms of this Agreement), (c) imposing a default rate of interest in accordance with the Credit Agreement or the Note Agreement, as applicable, or (d) raising any defenses in any action in which it has been made a party defendant or has been joined as a third party, except that the Collateral Agent may direct and control any defense to the extent directly relating to the Collateral or any one or more of the Security Documents, subject to and in accordance with the provisions of this Agreement.
Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from Penford Products on, any Subject Obligation to such Creditor or from instituting legal action against the Company, Penford Products or Penwest to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds received from Penford Products in connection with any recovery therefrom shall be subject to the terms of this Agreement.
Independent Actions by Creditors. Subject to Section 2(a) above, nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from the Fund on, any Subject Obligation or from instituting legal action against the Fund to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds (whether as reimbursement for expenses of collection or payments of interest or principal) received from or on behalf of the Fund in connection with any legal action shall, if received by the Mezzanine Lenders or the Subordinate Lenders, be held in trust for the benefit of and delivered promptly to the Senior Term Lenders, if any, to be allocated in accordance with the terms of this Agreement.
