Common use of Limitation on Certain Actions Clause in Contracts

Limitation on Certain Actions. Notwithstanding any other provision hereof, during any Standstill Period prior to the date that the Discharge of Loan Agreement Secured Obligations occurs, the Collateral Agent will not: (a) commence receivership or foreclosure proceedings against Borrower, any Guarantor, or any Lender Priority Collateral; (b) sell, collect, transfer or dispose of any Lender Priority Collateral or Proceeds; or (c) notify third party account debtors to make payment directly to it or any of its agents or other Persons acting on its behalf.

Limitation on Certain Actions. Notwithstanding any other provision hereof, during any Standstill Period prior to the date that the Discharge of Loan Agreement Secured Obligations obligations occurs, the Collateral Agent will not: (a) commence receivership or foreclosure proceedings against Borrower, any Guarantor, or any Lender Priority Collateral; (b) sell, collect, transfer or dispose of any Lender Priority Collateral or Proceeds; or (c) notify third party account debtors to make payment directly to it or any of its agents or other Persons acting on its behalf.

Limitation on Certain Actions. Notwithstanding any other provision hereof, during any Standstill Period prior to the date that the Discharge of Loan Agreement Secured Priority Obligations occurs, the Collateral Agent will not: (a) commence receivership or foreclosure proceedings against Borrower, any Guarantor, or any Lender Priority Collateral; (b) sell, collect, transfer or dispose of any Lender Priority Collateral or Proceeds; or (c) notify third party account debtors to make payment directly to it or any of its agents or other Persons acting on its behalf.

Limitation on Certain Actions. Notwithstanding any other provision hereof, during any Standstill Period prior to the date that the Discharge of Loan Agreement Secured Obligations occurs, the Collateral Agent will not: (a) commence receivership or foreclosure proceedings against Borrower, any Guarantor, or any Lender Priority Collateral; (b) sell, collect, transfer or dispose of any Lender Priority Collateral or Proceeds; or (c) notify third party account debtors to make payment directly to it or any of its agents or other Persons acting on its behalf.