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 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 the Subsidiary Guarantors on, any Subject Obligation of any Obligor the Company or the Subsidiary Guarantors, as the case may be, to such Creditor or from instituting legal action against any Obligor the Company or the Subsidiary Guarantor or Guarantors 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 (a) accelerating the maturity of, or demanding payment from the any Subsidiary Guarantors Obligor on, any Subject Obligation of the Company or any Subsidiary Obligor to such Creditor Creditor, or from (b) instituting legal action against the Company or any Subsidiary Obligor or Subsidiary Guarantor or to obtain a judgment or other legal process in respect of such Subject ObligationObligation or require any sharing of funds received or recovered from the Company, but any funds received from the any Joint Obligor constituting a 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) Payment shall be subject to the terms of this Agreement.