Common use of No Acceleration or Exercise of Remedies Clause in Contracts

No Acceleration or Exercise of Remedies. So long as any Senior --------------------------------------- Debt remains unpaid, the Manager will not (a) cause any portion of the Management Fees to become due prior to the due date for such Management Fees as set forth in the Management Agreement; (b) accept any payment, prepayment or defeasance of any portion of the Management Fees prior to the due date for such Management Fees as set forth in the Management Agreement or in violation of this Agreement; (c) modify or alter in any way the provisions of the Management Agreement if the effect of such is to accelerate the payments of the Management Fees due thereon; or (d) exercise any remedies with respect to the Management Fees or any collateral at any time securing payment or performance thereof unless and until, in each such case, all of the Senior Debt shall have indefeasibly paid in full in cash, satisfied and discharged or otherwise defeased under the Indenture, or the Trustee shall have otherwise consented in writing.

Appears in 2 contracts

Samples: Manager Subordination Agreement (Shreveport Capital Corp), Manager Subordination Agreement (HWCC Shreveport Inc)

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No Acceleration or Exercise of Remedies. So long as any Senior --------------------------------------- Debt remains unpaid, the Manager will not (a) cause any portion of the Management Fees to become due prior to the due date for such Management Fees as set forth in the Management Agreement; (b) accept any payment, prepayment or defeasance of any portion of the Management Fees prior to the due date for such Management Fees as set forth in the Management Agreement or in violation of this Agreement; (c) modify or alter in any way the provisions of the Management Agreement if the effect of such modification or alteration is to accelerate the payments payment of the Management Fees due thereon; or (d) exercise any remedies with respect to the Management Fees Fees, or any collateral at any time securing payment or performance thereof thereof, unless and until, in each such case, all of the Senior Debt shall have indefeasibly paid in full full, in cash, satisfied and discharged or otherwise defeased under the IndentureOperative Documents, or the Trustee Lessor/Trustee, acting at the direction of the Required Lenders, shall have otherwise consented in writing.

Appears in 1 contract

Samples: Participation Agreement (HCS Ii Inc)

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No Acceleration or Exercise of Remedies. So long as any Senior Debt --------------------------------------- Debt remains unpaid, the Manager will not (a) cause any portion of the Management Fees Subordinated Obligations to become due prior to the due date for such Management Fees Subordinated Obligations as set forth in the Management Agreement; (b) accept any payment, prepayment or defeasance of any portion of the Management Fees Subordinated Obligations prior to the due date for such Management Fees Subordinated Obligations as set forth in the Management Agreement or in violation of this Agreement; (c) modify or alter in any way the provisions of the Management Agreement if the effect of such is to accelerate the payments of the Management Fees Subordinated Obligations due thereon; or (d) exercise any remedies with respect to the Management Fees Subordinated Obligations or any collateral at any time securing payment or performance thereof unless and until, in each such case, all of the Senior Debt shall have indefeasibly paid in full in cash, satisfied and discharged or otherwise defeased under the Indenture, or the Trustee shall have otherwise consented in writing.

Appears in 1 contract

Samples: Manager Subordination Agreement (Isle of Capri Black Hawk Capital Corp)

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