Modification of Obligations. CCHC hereby consents that, without the necessity of any reservation of rights against CCHC and without notice to or further assent by CCHC, any demand for payment of the Obligations made by the Administrative Agent, the Issuing Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender or the Lenders and the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Lender or the Lenders and that this Agreement, any Notes and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent, the Issuing Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC and without notice to or further assent by CCHC which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative Agent, the Issuing Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHC, the Administrative Agent, the Issuing Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative Agent, the Issuing Lender or the Lenders to make any such demand or to collect any payments from the Borrower or any such other guarantor shall not relieve CCHC of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Lender or the Lenders against CCHC. For the purposes of this Section "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 2 contracts
Samples: Credit Agreement (Cooperative Computing Inc /De/), Credit Agreement (Cooperative Computing Inc /De/)
Modification of Obligations. CCHC Holdings hereby consents that, without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHCHoldings, any demand for payment of the Obligations made by the Administrative Agent, the Issuing Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender or the Lenders and the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Lender or the Lenders and that this Agreement, any Notes and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent, the Issuing Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHC Holdings which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative Agent, the Issuing Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHoldings, the Administrative Agent, the Issuing Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative Agent, the Issuing Lender or the Lenders to make any such demand or to collect any payments from the Borrower or any such other guarantor shall not relieve CCHC Holdings of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Lender or the Lenders against CCHCHoldings. For the purposes of this Section "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Modification of Obligations. CCHC Holdings hereby consents that, without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHCHoldings, (a) any demand for payment of the Obligations made by the Administrative any Agent, the Issuing Lender or the Lenders any Lender may be rescinded by the Administrative Agent, the Issuing Lender Lender, or the Lenders Lenders, and the Obligations continued, and ; (b) the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative any Agent, the Issuing Lender Lender, or the Lenders any Lender, and that this Agreement, any Notes Notes, and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative AgentAgents, the Issuing Lender Lender, or the Lenders Lenders, may deem advisable from time to time, and, ; and (c) to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative any Agent, the Issuing Lender Lender, or the Lenders any Lender, for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHC Holdings which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative AgentAgents, the Issuing Lender Lender, and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHoldings, the Administrative AgentAgents, the Issuing Lender Lender, or the Lenders Lenders, may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative any Agent, the Issuing Lender Lender, or the Lenders any Lender, to make any such demand or to collect any payments from the any Borrower or any such other guarantor shall not relieve CCHC Holdings of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative AgentAgents, the Issuing Lender Lender, or the Lenders Lenders, against CCHCHoldings. For the purposes of this Section subsection "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Modification of Obligations. CCHC Holdings hereby consents that, without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHCHoldings, (a) any demand for payment of the Obligations made by the Administrative any Agent, the any Issuing Lender or the Lenders any Lender may be rescinded by the Administrative Agent, the Issuing Lender Lender, or the Lenders Lenders, and the Obligations continued, and ; (b) the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative any Agent, the any Issuing Lender Lender, or the Lenders any Lender, and that this Agreement, any Notes Notes, and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative AgentAgents, the Issuing Lender Lenders, or the Lenders Lenders, may deem advisable from time to time, and, ; and (c) to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative any Agent, the any Issuing Lender Lender, or the Lenders any Lender, for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHC Holdings which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative AgentAgents, the Issuing Lender Lenders, and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHoldings, the Administrative AgentAgents, the Issuing Lender Lenders, or the Lenders Lenders, may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative any Agent, the any Issuing Lender Lender, or the Lenders any Lender, to make any such demand or to collect any payments from the any Borrower or any such other guarantor shall not relieve CCHC Holdings of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative AgentAgents, the Issuing Lender Lenders, or the Lenders Lenders, against CCHCHoldings. For the purposes of this Section subsection "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Samples: Credit Agreement (Viasystems Inc)
Modification of Obligations. CCHC Each Parent Guarantor hereby consents that, without the necessity of any reservation of rights against CCHC it and without notice to or further assent by CCHCit, any demand for payment of any of the Obligations made by the Administrative Agent, the Issuing Collateral Agent or any Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender Collateral Agent or the Lenders such Lender, respectively, and any of the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Collateral Agent or such Lender or and this Agreement (other than the Lenders and that obligations specifically incurred by the Parent Guarantors under this AgreementSection 11), any Notes and the other Loan DocumentsNote, including, without limitationany Application, any Letter of Credit ApplicationCredit, any collateral security document or other guarantee or document in connection therewith may (in accordance with the provisions of this Agreement, including, without limitation, subsection 14.1) be amended, modified, supplemented or terminated, in whole or in part, as the any such Administrative Agent, the Issuing Collateral Agent or such Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, and any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Collateral Agent or any Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation reservations of rights against CCHC any Parent Guarantor and without notice to or further assent by CCHC any Parent Guarantor, each of which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The None of the Administrative Agent, the Issuing Collateral Agent nor any Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCany Parent Guarantor, the Administrative Agent, the Issuing Collateral Agent or any Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party the relevant Borrower or upon any other guarantor, and any failure by the Administrative Agent, the Issuing Collateral Agent or such Lender or the Lenders to make any such demand or to collect any payments from the any other Parent Guarantor or any such other guarantor or any release of a Borrower or any such other guarantor shall not relieve CCHC such Parent Guarantor, of its obligations or and liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Collateral Agent or any Lender or the Lenders against CCHCany Parent Guarantor. For the purposes of this Section subsection 11.3, the term "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Harris Chemical North America Inc)
Modification of Obligations. CCHC Holdings hereby consents that, without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHCHoldings, any demand for payment of the Obligations made by the Administrative any Agent, the any Issuing Lender, any Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender Lender, or the Lenders Lenders, and the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative any Agent, the any Issuing Lender Lender, or the Lenders any Lender, and that this Agreement, any Notes Notes, and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative AgentAgents, the Issuing Lender Lenders, or the Lenders Lenders, may deem advisable from time to time, and, to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative any Agent, the any Issuing Lender Lender, or the Lenders any Lender, for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHC Holdings which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative AgentAgents, the Issuing Lender Lenders, and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHoldings, the Administrative AgentAgents, the Issuing Lender Lenders, or the Lenders Lenders, may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative any Agent, the any Issuing Lender Lender, or the Lenders any Lender, to make any such demand or to collect any payments from the any Borrower or any such other guarantor shall not relieve CCHC Holdings of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative AgentAgents, the Issuing Lender Lenders, or the Lenders Lenders, against CCHCHoldings. For the purposes of this Section subsection "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Samples: Credit Agreement (Viasystems Inc)
Modification of Obligations. CCHC Holdings hereby consents that, without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHCHoldings, any demand for payment of the Obligations made by the Administrative Agent, the Issuing Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender or the Lenders and the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Lender or the Lenders and that this Agreement, any Notes and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent, the Issuing Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHC Holdings which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative Agent, the Issuing Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHoldings, the Administrative Agent, the Issuing Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative Agent, the Issuing Lender or the Lenders to make any such demand or to collect any payments from the Borrower or any such other guarantor shall not relieve CCHC Holdings of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the any Issuing Lender or the Lenders against CCHCHoldings. For the purposes of this Section subsection "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Modification of Obligations. CCHC HCNA and each Borrower hereby consents that, without the necessity of any reservation of rights against CCHC it and without notice to or further assent by CCHCit, any demand for payment of any of the Obligations made by the Administrative Agent, the Issuing Collateral Agent or any Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender Collateral Agent or the Lenders such Lender, respectively, and any of the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Collateral Agent or such Lender or and this Agreement (other than the Lenders obligations specifically incurred by HCNA and that the Borrowers under this AgreementSection 11), any Notes and the other Loan DocumentsNote, including, without limitationany Application, any Letter of Credit ApplicationCredit, any collateral security document or other guarantee or document in connection therewith may (in accordance with the provisions of this Agreement, including, without limitation, subsection 14.1) be amended, modified, supplemented or terminated, in whole or in part, as the any such Administrative Agent, the Issuing Collateral Agent or such Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, and any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Collateral Agent or any Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation reservations of rights against CCHC HCNA or any Borrower and without notice to or further assent by CCHC HCNA or any Borrower (in respect of its guarantee hereunder) each of which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The None of the Administrative Agent, the Issuing Collateral Agent nor any Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHCNA or any Borrower (in respect of its Guarantee hereunder), the Administrative Agent, the Issuing Collateral Agent or any Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party the relevant Borrower (in its capacity as a borrower) or upon any other guarantor, and any failure by the Administrative Agent, the Issuing Collateral Agent or such Lender or the Lenders to make any such demand or to collect any payments from the HCNA or any such Borrower or any such other guarantor or any release of a Borrower or such other guarantor shall not relieve CCHC HCNA or any other Borrower (in respect of its guarantee hereunder) of its obligations or and liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Collateral Agent or any Lender against HCNA or the Lenders against CCHCany Borrower. For the purposes of this Section subsection 11.3, the term "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Harris Chemical North America Inc)
Modification of Obligations. CCHC hereby Each Guarantor consents that, without the necessity of any reservation of rights against CCHC any Guarantor and without notice to or further assent by CCHCany Guarantor, any demand for payment of any of the Obligations made by the Administrative Agent, the Issuing Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender or the Lenders and the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Lender or the Lenders Lenders, and that this the Credit Agreement, any Notes and the other Loan Documents, including, without limitation, any Letter of Credit Application, or any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent, the Issuing Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC and without notice to or further assent by CCHC any Guarantor which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative Agent, the Issuing Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held by it as security for the ObligationsObligations or for this Guarantee or any property subject thereto. When making any demand hereunder against CCHCany of the Guarantors, the Administrative Agent, the Issuing Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party or any other Guarantor or guarantor, and any failure by the Administrative Agent, the Issuing Lender or the Lenders to make any such demand or to collect any payments from the Borrower or any such other Guarantor or guarantor shall not relieve CCHC any of its the Guarantors in respect of which a demand or collection is not made of their several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Lender or the Lenders against CCHCany of the Guarantors. For the purposes of this Section hereof "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Samples: Domestic Subsidiaries' Guarantee (Berg Electronics Corp /De/)
Modification of Obligations. CCHC CCI hereby consents that, without the necessity of any reservation of rights against CCHC CCI and without notice to or further assent by CCHCCCI, any demand for payment of the Obligations made by the Administrative Agent, the Issuing Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender or the Lenders and the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Lender or the Lenders and that this Agreement, any Notes and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent, the Issuing Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC CCI and without notice to or further assent by CCHC CCI which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative Agent, the Issuing Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCCCI, the Administrative Agent, the Issuing Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative Agent, the Issuing Lender or the Lenders to make any such demand or to collect any payments from the Borrower or any such other guarantor shall not relieve CCHC CCI of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Lender or the Lenders against CCHCCCI. For the purposes of this Section "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Modification of Obligations. CCHC Holdings hereby consents that, without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHCHoldings, (a) any demand for payment of the Obligations made by the Administrative any Agent, the Issuing Lender or the Lenders any Lender may be rescinded by the Administrative Agent, the Issuing Lender Lender, or the Lenders Lenders, and the Obligations continued, and ; (b) the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative any Agent, the Issuing Lender Lender, or the Lenders any Lender, and that this Agreement, any Notes Notes, and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative AgentAgents, the Issuing Lender Lender, or the Lenders Lenders, may deem advisable from time to time, and, ; and (c) to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative any Agent, the Issuing Lender Lender, or the Lenders any Lender, for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHC Holdings which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative AgentAgents, the Issuing Lender Lender, and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHoldings, the Administrative AgentAgents, the Issuing Lender Lender, or the Lenders Lenders, may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative any Agent, the Issuing Lender Lender, or the Lenders any Lender, to make any such demand or to collect any payments from the Borrower or any such other guarantor shall not relieve CCHC Holdings of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative AgentAgents, the Issuing Lender Lender, or the Lenders Lenders, against CCHCHoldings. For the purposes of this Section subsection "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Modification of Obligations. CCHC Holdings hereby consents that, without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHCHoldings, any demand for payment of the Obligations made by the Administrative Agent, the Issuing Lender or the Lenders may be rescinded by the Administrative Agent, the Issuing Lender or the Lenders and the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor 115 110 or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent, the Issuing Lender or the Lenders and that this Agreement, any Notes and the other Loan Documents, including, without limitation, any Letter of Credit Application, any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent, the Issuing Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing Lender or the Lenders for the payment of the Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation of rights against CCHC Holdings and without notice to or further assent by CCHC Holdings which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative Agent, the Issuing Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHCHoldings, the Administrative Agent, the Issuing Lender or the Lenders may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative Agent, the Issuing Lender or the Lenders to make any such demand or to collect any payments from the Borrower or any such other guarantor shall not relieve CCHC Holdings of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Lender or the Lenders against CCHCHoldings. For the purposes of this Section subsection "demand" shall include the commencement and continuance of any legal proceedings.
Appears in 1 contract
Modification of Obligations. CCHC Each of the Guarantor and the Company hereby consents that, without the necessity of any reservation of rights against CCHC it and without notice to or further assent by CCHCit, any demand for payment of any of the Obligations or the Subsidiary Obligations made by the Administrative Agent, the Issuing any Agent or any Lender or the Lenders may be rescinded by such Agent or such Lender and any of the Administrative Agent, the Issuing Lender Obligations or the Lenders and the Subsidiary Obligations continued, and the Obligations and the Subsidiary Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by such Agent or such Lender and this Agreement (other than the Administrative Agent, obligations specifically incurred by the Issuing Lender Guarantor or the Lenders and that Company under this Agreement, any Notes and the other Loan Documents, including, without limitation, any Letter of Credit ApplicationArticle), any collateral security document or other guarantee or document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent, the Issuing such Agent or such Lender or the Lenders may deem advisable from time to time, and, to the extent permitted by applicable law, and any collateral security or guarantee or right of offset at any time held by the Administrative Agent, the Issuing any Agent or any Lender or the Lenders for the payment of the Obligations or the Subsidiary Obligations may be sold, exchanged, waived, surrendered or released, all without the necessity of any reservation reservations of rights against CCHC the Guarantor or the Company and without notice to or further assent by CCHC the Guarantor or the Company (in respect of its guarantee hereunder), each of which will remain bound hereunder notwithstanding any such renewal, extension, modification, acceleration, compromise, amendment, supplement, termination, sale, exchange, waiver, surrender or release. The Administrative Agent, the Issuing No Agent or Lender and the Lenders shall not have any obligation to protect, secure, perfect or insure any collateral security document or property subject thereto at any time held as security for the Obligations. When making any demand hereunder against CCHC, the Administrative Agent, the Issuing Lender Obligations or the Lenders may, but shall be under no obligation to, make a similar demand on any other party or any other guarantor, and any failure by the Administrative Agent, the Issuing Lender or the Lenders to make any such demand or to collect any payments from the Borrower or any such other guarantor shall not relieve CCHC of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Administrative Agent, the Issuing Lender or the Lenders against CCHC. For the purposes of this Section "demand" shall include the commencement and continuance of any legal proceedings.Subsidiary
Appears in 1 contract
Samples: Credit Agreement (Unocal Corp)