Common use of No Direct Enforcement by Secured Creditors Clause in Contracts

No Direct Enforcement by Secured Creditors. The Agent may freely exercise and enforce any and all of its rights and remedies hereunder, for the benefit of the Secured Creditors. No Secured Creditor, other than the Agent, shall have any independent right to collect, take possession of, foreclose against or otherwise enforce the Security Interests granted hereby.

Appears in 5 contracts

Samples: Guarantee and Collateral Agreement (PNG Ventures Inc), Guarantee and Collateral Agreement (Earth Biofuels Inc), Guarantee and Collateral Agreement (Earth Biofuels Inc)

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No Direct Enforcement by Secured Creditors. The Agent may freely exercise and enforce any and all of its rights and remedies hereunder, for the benefit of the Secured Creditors. No Except to the extent the Agent may consent in writing, no Secured Creditor, other than the Agent, shall have any independent right to collect, take possession of, foreclose against or otherwise enforce the Security Interests granted hereby.

Appears in 4 contracts

Samples: Guarantee and Collateral Agreement (CareView Communications Inc), Security Agreement (Avinger Inc), Security Agreement (Avinger Inc)

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No Direct Enforcement by Secured Creditors. The Agent may freely exercise and enforce any and all of its rights and remedies hereunder, for the benefit of the Secured Secured. Creditors. , No Secured Creditor, other than the Agent, shall have any independent right to collect, take possession of, foreclose against or otherwise enforce the Security Interests granted hereby.

Appears in 1 contract

Samples: Credit Agreement (Earth Biofuels Inc)

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