Common use of No Benefits Clause in Contracts

No Benefits. Each Obligor understands that there may be various agreements between the Lender Group and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that the Lender Group and Agent on behalf thereof shall have no obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 8 contracts

Samples: Intercompany Subordination Agreement, Intercompany Subordination Agreement (Velocity Express Corp), Intercompany Subordination Agreement (Velocity Express Corp)

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No Benefits. Each Obligor understands that there may be various agreements between the Lender Group and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor unless such Obligor is also a party thereto and that Agent and the Lender Group and Agent on behalf thereof Lenders shall have no obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreementsagreements unless such Obligor is also a party thereto.

Appears in 2 contracts

Samples: Intercompany Subordination Agreement (155 East Tropicana, LLC), Intercompany Subordination Agreement (Oasis Interval Ownership, LLC)

No Benefits. Each Obligor understands that there may be various agreements between Agent, the Lender Group Lenders and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that Agent and the Lender Group and Agent on behalf thereof Lenders shall not have no any obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 2 contracts

Samples: Intercompany Subordination Agreement (Ares Commercial Real Estate Corp), Intercompany Subordination Agreement (Ares Commercial Real Estate Corp)

No Benefits. Each Obligor understands that there may be various agreements between the Lender Group and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that the Lender Group and Collateral Agent on behalf thereof shall have no obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 2 contracts

Samples: Intercompany Subordination Agreement (Elgar Holdings Inc), Financing Agreement (Dice Holdings, Inc.)

No Benefits. Each Obligor understands that there may be various agreements between the or among Lender Group and any one or more other Obligor Obligors evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor (except to the extent provided in such Agreements) and that the Lender Group and Agent on behalf thereof shall have no obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (Sugarfina Corp)

No Benefits. Each Obligor understands that there may be various agreements between the Lender Group and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that the Lender Group and Agent on behalf thereof shall have no obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (Midway Games Inc)

No Benefits. Each Obligor understands that there may be various agreements between Lender and the Lender Group Bank Product Providers and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that the neither Lender Group and Agent on behalf thereof nor any Bank Product Provider shall have no any obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (Mortons Restaurant Group Inc)

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No Benefits. Each Obligor understands that there may be various agreements between the Lender Group Agents and/or the Lenders and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that the Lender Group Agents and Agent on behalf thereof the Lenders shall have no obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 1 contract

Samples: Subordination Agreement (Global Geophysical Services Inc)

No Benefits. Each Obligor understands that there may be various agreements between the Lender Group and the Bank Product Providers and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that no member of the Lender Group and Agent on behalf thereof no Bank Product Provider shall have no any obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (GNLV Corp)

No Benefits. Each Obligor understands that there may be various agreements between Agent, the Lender Group Lenders and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that the neither Agent nor any Lender Group and Agent on behalf thereof shall have no any obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (New York & Company, Inc.)

No Benefits. Each Obligor understands that there may be various agreements between the Agent or any Lender Group and any other Obligor evidencing and governing the Senior Debt, and each Obligor acknowledges and agrees that such agreements are not intended to confer any benefits on such Obligor and that the Lender Group Agent and Agent on behalf thereof the Lenders shall have no obligation to such Obligor or any other Person to exercise any rights, enforce any remedies, or take any actions which may be available to them under such agreements.

Appears in 1 contract

Samples: Intercompany Subordination Agreement (Composite Technology Corp)

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