Common use of No Additional Rights For the Credit Parties Hereunder Clause in Contracts

No Additional Rights For the Credit Parties Hereunder. Except as provided in Section 3.6, if any ABL Secured Party or First Lien Notes Secured Party shall enforce its rights or remedies in violation of the terms of this Agreement, the Credit Parties shall not be entitled to use such violation as a defense to any action by any ABL Secured Party or First Lien Notes Secured Party, nor to assert such violation as a counterclaim or basis for set off or recoupment against any ABL Secured Party or First Lien Notes Secured Party.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Gap Inc), Revolving Credit Agreement (Gap Inc), Revolving Credit Agreement (Gap Inc)

AutoNDA by SimpleDocs

No Additional Rights For the Credit Parties Hereunder. Except as provided in Section 3.6, if If any ABL First Lien Secured Party or First Second Lien Notes Secured Party shall enforce its rights or remedies in violation of the terms of this Agreement, the Credit Parties shall not be entitled to use such violation as a defense to any action by any ABL First Lien Secured Party or First Second Lien Notes Secured Party, nor to assert such violation as a counterclaim or basis for set off or recoupment against any ABL First Lien Secured Party or First Second Lien Notes Secured Party.

Appears in 1 contract

Samples: Intercreditor Agreement (Iconix Brand Group, Inc.)

AutoNDA by SimpleDocs

No Additional Rights For the Credit Parties Hereunder. Except as provided in Section 3.63.6 hereof, if any ABL Secured Party or First Lien Exit Convertible Notes Secured Party shall enforce its rights or remedies in violation of the terms of this Agreement, the no Credit Parties Party shall not be entitled to use such violation as a defense to any action by any ABL Secured Party or First Lien Exit Convertible Notes Secured Party, nor to assert such violation as a counterclaim or basis for set off or recoupment against any ABL Secured Party or First Lien Exit Convertible Notes Secured Party.

Appears in 1 contract

Samples: Intercreditor Agreement (Hi-Crush Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!