Common use of No Contest Clause in Contracts

No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b), AR Lender’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents are owing from Hospital to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA Xxxxxx’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateral, or any portion thereof. (b) AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured Loan Documents are owing from the Hospital to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA Lender’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement

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No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b), AR LenderXxxxxx’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents Obligations are owing from Hospital Operator to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA XxxxxxLender’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateral, or any portion thereof. (b) . AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured Loan Documents are owing from the Hospital Owner to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA LenderXxxxxx’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b2.2(b), AR Lender’s Lender‟s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents are owing from Hospital Operator to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s Lender‟s and the FHA Xxxxxx’s Lender‟s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Lender‟s Priority Collateral, or any portion thereof. (b) AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the Deleted: 3 Deleted: Lender Deleted: Lessee Deleted: Mortgagee priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Lender‟s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s Lender‟s lien and security interest in the FHA Lender’s Lender‟s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured HUD Loan Documents are owing from the Hospital Owner to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Lender‟s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA Lender’s Lender‟s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan HUD Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

No Contest. 372 (a) FHA Lender Xxxxxx agrees that it will not make any assertion or claim in any 373 action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity 374 or effectiveness of the liens and security interests granted to AR Lender with respect to the AR 375 Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender 376 from taking all appropriate steps to protect and preserve its priority in the circumstances 377 contemplated in Section 2.1(b). FHA Lender Xxxxxx further agrees that, subject to Section 2.1(b), AR Lender378 Xxxxxx’s lien and security interest in the AR Lender Priority Collateral shall at all times, while 379 any indebtedness or obligations under the AR Loan Documents DocumentsObligations are owing from Hospital 380 Operator to AR Lender, be superior and prior to the liens and security interests granted to the 381 FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of 382 attachment or perfection of AR Lender’s and the FHA Xxxxxx’s liens and security interests, or 383 the filing of financing statements, or the taking of possession of the FHA LenderXxxxxx’s Priority 384 Collateral, or any portion thereof. . 385 (b) AR Lender Xxxxxx agrees that it will not make any assertion or claim in any 386 action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity 387 or effectiveness of the liens and security interests granted to FHA Lender with respect to the 388 FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR 389 Lender from taking all appropriate steps to protect and preserve its priority in the circumstances 390 contemplated in Section 2.2(b). AR Lender Xxxxxx further agrees that FHA Xxxxxx’s lien and security 391 interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or 392 obligations under the FHA-Insured Loan Documents are owing from the Hospital Owner to the FHA 393 Lender, be superior and prior to the liens and security interests granted to AR Lender in such 394 FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or 395 perfection of the FHA LenderXxxxxx’s liens and security interests, or the filing of financing statements 396 or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. . 397 (c) AR Lender waives, in respect of FHA Lender, any and all rights under any 398 theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender 399 agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has 400 a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the 401 FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or 402 exchange any collateral and/or any guarantor at any time without affecting the agreements set 403 forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under 404 any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender 405 Xxxxxx agrees that AR Lender may (A) proceed directly against any collateral in which AR 406 Lender has a lien or security interest (subject to the terms of this Agreement) and/or any 407 guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, 408 substitute or exchange any collateral and/or any guarantor at any time without affecting the 409 agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b2.2(b), AR Lender’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents are owing from Hospital Operator to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA Xxxxxx’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateral, or any portion thereof. (b) . AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured HUD Loan Documents are owing from the Hospital Owner to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA LenderXxxxxx’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b), AR Lender’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents are owing from Hospital Operator to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA Xxxxxx’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateral, or any portion thereof. (b) . AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured Loan Documents are owing from the Hospital Owner to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA LenderXxxxxx’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b), AR LenderXxxxxx’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents Obligations are owing from Hospital Operator to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA XxxxxxLender’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Lender Priority Collateral, or any portion thereof. (b) AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Lender Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Lender Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured Loan Documents are owing from the Hospital Owner to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA Lender’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-FHA- Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

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No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b), AR Lender’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents are owing from Hospital to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA Xxxxxx’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateral, or any portion thereof. (b) . AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured Loan Documents are owing from the Hospital to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA Lender’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b), AR LenderXxxxxx’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents Obligations are owing from Hospital Operator to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA XxxxxxLender’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateral, or any portion thereof. (b) . AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured Loan Documents are owing from the Hospital Owner to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA LenderXxxxxx’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) . AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

No Contest. Each of the First Lien Term Agent, on behalf of itself and the First Lien Term Lenders, and the First Lien Notes Agent, on behalf of itself, the First Lien Notes Secured Parties, and the Future Term Loan/Notes Indebtedness Secured Parties, agrees that, prior to the Discharge of ABL Obligations, none of them shall contest (or support any other Person contesting) (a) FHA any request by the ABL Agent or any ABL Lender agrees that it will not make for adequate protection of its interest in the Collateral (unless in contravention of Section 6.1(b) above), or (b) any assertion objection by the ABL Agent or claim in any ABL Lender to any motion, relief, action, suit or proceeding based on a claim by the ABL Agent or any ABL Lender that its interests in the Collateral (unless in contravention of Section 6.1(b) above) are not adequately protected (or any nature whatsoever in other similar request under any way challenging the prioritylaw applicable to an Insolvency Proceeding), validity or effectiveness of the liens and security interests so long as any Liens granted to AR Lender with respect the ABL Agent as adequate protection of its interests are subject to this Agreement. The ABL Agent, on behalf of itself and the AR Lender Priority Collateral provided thatABL Lenders, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject prior to Section 2.1(b)the Discharge of Term Loan/Notes Obligations, AR none of them shall contest (or support any other Person contesting) (i) any request by any Term Loan/Notes Agent, any First Lien Term Lender’s lien and security , any First Lien Notes Secured Party, or any Future Term Loan/Notes Indebtedness Secured Party for adequate protection of its interest in the AR Lender Priority Collateral shall at all times(unless in contravention of Section 6.1(a) above), while or (ii) any indebtedness or obligations under the AR Loan Documents are owing from Hospital to AR objection by any Term Loan/Notes Agent, any First Lien Term Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA Xxxxxx’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateralany First Lien Notes Secured Party, or any portion thereof. (b) AR Lender agrees that it will not make Future Term Loan/Notes Indebtedness Secured Party to any assertion or claim in any actionmotion, suit relief, action or proceeding of based on a claim by any nature whatsoever in Term Loan/Notes Agent, any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured Loan Documents are owing from the Hospital to the FHA First Lien Term Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA Lender’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateralany First Lien Notes Secured Party, or any portion thereof. Future Term Loan/Notes Indebtedness Secured Party that its interests in the Collateral (cunless in contravention of Section 6.1(a) AR Lender waives, in respect of FHA Lender, above) are not adequately protected (or any and all rights other similar request under any theory law applicable to an Insolvency Proceeding), so long as any Liens granted to any Term Loan/Notes Agent as adequate protection of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (its interests are subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Burlington Stores, Inc.)

No Contest. (a) FHA Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to AR Lender with respect to the AR Lender Priority Collateral provided that, nothing in this Section 2.4(a) shall prevent FHA Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.1(b). FHA Lender further agrees that, subject to Section 2.1(b2.2(b), AR Lender’s lien and security interest in the AR Lender Priority Collateral shall at all times, while any indebtedness or obligations under the AR Loan Documents are owing from Hospital Operator to AR Lender, be superior and prior to the liens and security interests granted to the FHA Lender in such AR Lender Priority Collateral, irrespective of the time, order or method of attachment or perfection of AR Lender’s and the FHA Xxxxxx’s liens and security interests, or the filing of financing statements, or the taking of possession of the FHA Lender’s Priority Collateral, or any portion thereof. (b) AR Lender agrees that it will not make any assertion or claim in any action, suit or proceeding of any nature whatsoever in any way challenging the priority, validity or effectiveness of the liens and security interests granted to FHA Lender with respect to the FHA Lender’s Priority Collateral; provided that, nothing in this Section 2.4(b) shall prevent AR Lender from taking all appropriate steps to protect and preserve its priority in the circumstances contemplated in Section 2.2(b). AR Lender further agrees that FHA Xxxxxx’s lien and security interest in the FHA Lender’s Priority Collateral shall at all times while any indebtedness or obligations under the FHA-Insured HUD Loan Documents are owing from the Hospital Owner to the FHA Lender, be superior and prior to the liens and security interests granted to AR Lender in such FHA Lender’s Priority Collateral, irrespective of the time, order or method of attachment or perfection of the FHA LenderXxxxxx’s liens and security interests, or the filing of financing statements or the taking of possession of the AR Lender Priority Collateral, or any portion thereof. (c) AR Lender waives, in respect of FHA Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, AR Lender agrees that FHA Lender may (i) proceed directly against any collateral in which FHA Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the FHA-Insured Loan HUD Obligations in any particular order and (ii) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement. FHA Lender waives, in respect of AR Lender, any and all rights under any theory of marshalling or ordering of the disposition of collateral and accordingly, FHA Lender agrees that AR Lender may (A) proceed directly against any collateral in which AR Lender has a lien or security interest (subject to the terms of this Agreement) and/or any guarantor of the AR Loan Obligations in any particular order and (B) release, surrender, substitute or exchange any collateral and/or any guarantor at any time without affecting the agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement

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