Common use of No Election Clause in Contracts

No Election. The Trustee shall have the right to seek recourse against each Guarantor to the fullest extent provided for herein and no election by the Trustee to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of Trustee's right to proceed in any other form of action or proceeding, or against other parties unless the Trustee has expressly waived such right in writing.

Appears in 6 contracts

Samples: Indenture (MGM Grand Inc), Guarantee (MGM Mirage), Guarantee (MGM Mirage)

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No Election. The Trustee shall have the right to seek recourse against each Subsidiary Guarantor to the fullest extent provided for herein and no election by the Trustee to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of Trustee's right to proceed in any other form of action or proceeding, or against other parties unless the Trustee has expressly waived such right in writing.

Appears in 5 contracts

Samples: Indenture (MGM Mirage), Indenture (MGM Grand Inc), Indenture (MGM Mirage)

No Election. The Trustee shall have the right to seek recourse against each Subsidiary Guarantor to the fullest extent provided for herein and no election by the Trustee to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of Trustee's ’s right to proceed in any other form of action or proceeding, or against other parties unless the Trustee has expressly waived such right in writing.

Appears in 4 contracts

Samples: Indenture (MGM Mirage), Indenture (MGM Mirage), Indenture (MGM Mirage)

No Election. The Trustee shall have the right to seek recourse against each Guarantor to the fullest extent provided for herein and no election by the Trustee to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of Trustee's ’s right to proceed in any other form of action or proceeding, or against other parties unless the Trustee has expressly waived such right in writing.

Appears in 3 contracts

Samples: Indenture (Ramparts, Inc.), MGM Mirage, MRG Vegas Portal, Inc.

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No Election. The Trustee shall have the right to seek recourse against ----------- each Guarantor to the fullest extent provided for herein and no election by the Trustee to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of Trustee's right to proceed in any other form of action or proceeding, or against other parties unless the Trustee has expressly waived such right in writing.

Appears in 1 contract

Samples: MGM Grand Inc

No Election. The Trustee shall have the right to seek recourse ----------- against each Guarantor to the fullest extent provided for herein and no election by the Trustee to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of Trustee's right to proceed in any other form of action or proceeding, or against other parties unless the Trustee has expressly waived such right in writing.

Appears in 1 contract

Samples: MGM Grand Inc

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