Common use of Independent Actions by Creditors Clause in Contracts

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.

Appears in 3 contracts

Samples: Note Purchase Agreement (Equifax Inc), Intercreditor Agreement (Otter Tail Corp), Intercreditor Agreement (Talx Corp)

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Independent Actions by Creditors. Nothing contained -------------------------------- in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a any Subsidiary Guarantor on, any Subject Obligation of the Company to such Creditor or from instituting legal action against the Company or a any Subsidiary Guarantor to obtain a judgment or other legal process in respect of such any Subject Obligation, but any funds received from a any Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Pentair Inc)

Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a any Subsidiary Guarantor Guaranty on, any Subject Borrower’s Guaranteed Obligation of the Company Borrower to such Creditor or from instituting legal action against the Company Borrower or a any Subsidiary Guarantor to obtain a judgment or other legal process in respect of such Subject Borrower’s Guaranteed Obligation, but any funds received from a any Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Ihop Corp)

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 Company, a Subsidiary Borrower 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.

Appears in 1 contract

Samples: Intercreditor Agreement (Bowne & Co Inc)

Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a any Subsidiary Guarantor on, any Subject Borrower's Guaranteed Obligation of the Company Borrower to such Creditor or from instituting legal action against the Company Borrower or a any Subsidiary Guarantor to obtain a judgment or other legal process in respect of such Subject Borrower's Guaranteed Obligation, but any funds received from a any Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Ihop Corp)

Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a Subsidiary any Guarantor on, any Subject Obligation of the Company to such Creditor or from instituting legal action against the Company or a Subsidiary any Guarantor to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds received from a Subsidiary any Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Big Lots Inc)

Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a any Subsidiary Guarantor on, any Subject Borrower’s Guaranteed Obligation of the Company Borrower to such Creditor or from instituting legal action against the Company Borrower or a any Subsidiary Guarantor to obtain a judgment judgement or other legal process in respect of such Subject Borrower’s Guaranteed Obligation, but any funds received from a any Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Ihop Corp)

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Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a any Subsidiary Guarantor on, any Subject Obligation of the Company to such Creditor or from instituting legal action against the Company or a any Subsidiary Guarantor to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds received from a any Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Nui Corp /Nj/)

Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a any Subsidiary Guarantor onunder any Subsidiary Guaranty of, any Subject Obligation of the Company owed to such Creditor or from instituting legal action against the Company Borrower or a any Subsidiary Guarantor to obtain a judgment or other legal process in respect of such Subject ObligationObligation or Subsidiary Guaranty, but any funds received from a any Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Tech Data Corp)

Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a Subsidiary any Guarantor on, any Subject Obligation of the Company to such Creditor or from instituting legal action against the Company or a Subsidiary any Guarantor to obtain a judgment or other legal process in respect of such any Subject Obligation, but any funds received from a Subsidiary any Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Dreyers Grand Ice Cream Holdings Inc)

Independent Actions by Creditors. Nothing contained in this Agreement shall prohibit any Creditor from accelerating the maturity of, or demanding payment from a any Subsidiary Guarantor onwith respect to, any Subject Obligation of the Company any Obligor to such Creditor or from instituting legal action against the Company any Obligor or a any Subsidiary Guarantor to obtain a judgment or other legal process in respect of such Subject Obligation, but any funds received from a any Subsidiary Guarantor in connection with any recovery therefrom shall be subject to the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Hub Group Inc)

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