Lender Authorization. After the occurrence and during the continuance of any Default (including the commencement and continuation of any proceeding under any Bankruptcy Law relating to the Borrower), the Lender is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of Guarantor, to collect and enforce, and to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Debt (including any and all Post Petition Interest), and (ii) to require Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Lender for application to the Guaranteed Debt (including any and all Post Petition Interest).
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Samples: Guaranty Agreement, Guaranty Agreement (Staktek Holdings Inc)
Lender Authorization. After the occurrence and during the continuance of any Default (including the commencement and continuation of any proceeding under any Bankruptcy Law Insolvency Proceeding relating to the Borrowerany other Credit Party), the Lender is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and if such Guarantor fails to do so, to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Debt Obligations (including any and all Post Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Lender for application to the Guaranteed Debt Obligations (including any and all Post Petition Interest).
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Samples: Loan and Security Agreement (Atlanticus Holdings Corp), Loan and Security Agreement (Atlanticus Holdings Corp)
Lender Authorization. After the occurrence and during the continuance of any an Event of Default (including the commencement and continuation of any proceeding under any Bankruptcy Law bankruptcy law relating to the Borrower), the Lender is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of Guarantorthe Guarantor and its Subsidiaries, to collect and enforce, and to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Debt Obligations (including any and all Post Petition Interest), and (ii) to require the Guarantor and its Subsidiaries (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Lender for application to the Guaranteed Debt Obligations (including any and all Post Petition Interest).
Appears in 2 contracts
Samples: Credit Agreement (AquaVenture Holdings LTD), Credit Agreement (Aquaventure Holdings LLC)
Lender Authorization. After the occurrence and during the continuance of any Matured Default (including the commencement and continuation of any proceeding under any Bankruptcy Debtor Relief Law relating to the BorrowerCompany), the Lender is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of Guarantor, to collect and enforce, and to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Debt Obligations (including any and all Post Petition Interest), and (ii) to require Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Lender for application to the Guaranteed Debt Obligations (including any and all Post Petition Interest).
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Lender Authorization. After the occurrence and during the continuance of any Event of Default (including the commencement and continuation under Section 7.1(a) or Section 7.1(f) of any proceeding under any Bankruptcy Law relating to the Borrower)this Agreement, the Lender is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of Borrower and each Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the 41 Guaranteed Debt Obligations (including any and all Post Post-Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Lender for application to the Guaranteed Debt Obligations (including any and all Post Post-Petition Interest).
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