Common use of No Commencement of Any Proceeding Clause in Contracts

No Commencement of Any Proceeding. The Subordinated Creditor agrees that, so long as the Obligations shall not have been paid in full in cash, the Subordinated Creditor will not xxx for payment of all or any of the Affiliate Subordinated Debt, or commence, or join with any creditor other than the Lenders, Xxxxxx Commercial Paper Inc., as Agent for the Lenders, the Senior Creditors and their Representatives, in commencing any proceeding referred to in Section 3(a); provided, however, that the foregoing provisions shall not prevent the Subordinated Creditor from commencing and prosecuting to judgment any action necessary to enforce such Affiliate Subordinated Debt during the period commencing one year prior to the expiration of the limitation period governing such Affiliate Subordinated Debt under any applicable statute of limitations.

Appears in 4 contracts

Samples: Credit Agreement (Mirant Americas Generating LLC), Credit Agreement (Mirant Corp), Credit Agreement (Mirant Corp)

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No Commencement of Any Proceeding. The Subordinated Creditor agrees that, so long as the Obligations shall not have been paid in full in cash, the Subordinated Creditor will not xxx for payment of all or any of the Affiliate Subordinated Debt, or commence, or join with any creditor other than the Lenders, Xxxxxx Commercial Paper Inc.Credit Suisse First Boston, as Agent for the Lenders, the Senior Creditors and their the Representatives, in commencing any proceeding referred to in Section 3(a); provided, however, that the foregoing provisions shall not prevent the Subordinated Creditor from commencing and prosecuting to judgment any action necessary to enforce such Affiliate Subordinated Debt during the period commencing one year prior to the expiration of the limitation period governing such Affiliate Subordinated Debt under any applicable statute of limitations.

Appears in 2 contracts

Samples: Year Credit Agreement (Mirant Corp), Day Credit Agreement (Mirant Corp)

No Commencement of Any Proceeding. The Subordinated Creditor agrees that, so long as the Obligations shall not have been paid in full in cash, the Subordinated Creditor will not xxx sue for payment of all or any of the Affiliate Subordinated Debt, or xx commence, or join with any creditor other than the Lenders, Xxxxxx Commercial Paper Inc.Citibank, as Agent for the Lenders, the Senior Creditors and their the Representatives, in commencing any proceeding referred to in Section 3(a); provided, however, that the foregoing provisions shall not prevent the Subordinated Creditor from commencing and prosecuting to judgment any action necessary to enforce such Affiliate Subordinated Debt during the period commencing one year prior to the expiration of the limitation period governing such Affiliate Subordinated Debt under any applicable statute of limitations.

Appears in 1 contract

Samples: Credit Agreement (Southern Power Co)

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No Commencement of Any Proceeding. The Subordinated Creditor agrees that, so long as the Obligations shall not have been paid in full in cash, the Subordinated Creditor will not xxx sue for payment of all or any of the Affiliate Subordinated Debt, or xr commence, or join with any creditor other than the Lenders, Xxxxxx Commercial Paper Inc.Citibank, as Agent for the Lenders, the Senior Creditors and their the Representatives, in commencing any proceeding referred to in Section 3(a); provided, however, that the foregoing provisions shall not prevent the Subordinated Creditor from commencing and prosecuting to judgment any action necessary to enforce such Affiliate Subordinated Debt during the period commencing one year prior to the expiration of the limitation period governing such Affiliate Subordinated Debt under any applicable statute of limitations.

Appears in 1 contract

Samples: Credit Agreement (Southern Power Co)

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