No Exercise of Remedies. Unless and until the Senior Creditor shall have received payment in full in cash, stock or property acceptable to the Senior Creditor of all Senior Indebtedness and the Senior Indebtedness shall have terminated pursuant to the respective terms and provisions thereof, the Junior Creditor shall not (a) accelerate the maturity of the Junior Indebtedness or exercise any of its default remedies or otherwise take any Junior Enforcement Action or (b) ask, demand or xxx for any right or remedy in respect of all or any part of the Junior Indebtedness or the Collateral, and the Junior Creditor agrees not to take or receive from the Credit Party, directly or indirectly, in cash or other Property or by set-off or in any other manner, whether pursuant to any enforcement, collection, execution, levy or foreclosure proceeding or otherwise, any part of the Collateral. Without limiting the generality of the foregoing, unless and until the Senior Creditor shall have received payment in full in cash, stock or property acceptable to the Senior Creditor of all Senior Indebtedness and the Senior Indebtedness shall have terminated pursuant to the respective terms and provisions thereof: (i) the Junior Creditor shall not exercise or otherwise assert any right or remedy in respect of any part of the Collateral or the Lien of the Senior Creditor thereon; (ii) the sole right of the Junior Creditor with respect to the Collateral shall be to hold a Lien thereon to the extent granted pursuant to the Junior Credit Documents (as subordinated herein) and to receive proceeds thereof remaining after such payment and termination and (iii) without the prior written consent of the Senior Creditor, the Junior Creditor shall not exercise any right the Junior Creditor may have under the Junior Credit Documents under the UCC or other applicable law to deliver any notice to account debtors informing them of the Junior Creditor’s interest in any accounts of the Credit Party or directing such account debtors to make payments in any particular manner of amounts due in respect of any such account.
No Exercise of Remedies. (A) The Collateral Agent agrees that, so long as any of the Financing Agreement Obligations (other than Excess Financing Agreement Obligations) have not been paid in full, it will refrain from exercising any and all remedies available to it under the applicable security documents and any and all remedies otherwise permitted by applicable law with respect to the Financing Agreement Collateral, it being agreed and understood, however, that the Collateral Agent may exercise any and all rights and remedies available to it under the Indenture so long as such remedies do not relate to the enforcement of the Collateral Agent’s security interest in the Financing Agreement Collateral; provided, that following the 90th day after receipt by Revolving Agent of the notice pursuant to Section 17 by Collateral Agent, the Collateral Agent may (i) enforce its liens with respect to any Term Borrower Collateral until such time as the Revolving Agent is diligently pursuing its rights and remedies with respect to such Term Borrower Collateral and (ii) collect and receive any and all payments or distributions which may be payable or deliverable upon or with respect to such Term Borrower Collateral, subject to application of such payments or distributions in accordance with Section 18 hereof. This agreement shall not restrict the rights of the Trustee, the Noteholders or the Collateral Agent to accelerate the Indenture Obligations and to bring action against the Credit Parties, including the initiation of an Insolvency Proceeding, (but not an action against the Financing Agreement Collateral) to collect such Indenture Obligations after the occurrence and during the continuance of an “Event of Default” (as such term is defined in the Indenture) under the Indenture. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not exercise any remedies available to it under the applicable security documents or any other remedies otherwise permitted by applicable law with respect to the PP&E Collateral during (a) any Liquidation Period (as defined in Section 19) or (b) any period commencing on the date of the receipt by the Financing Agent of a written notice from the Collateral Agent pursuant to Section 17 and ending ninety (90) days thereafter. In the event of a sale or other disposition of the Financing Agreement Collateral, other than in the ordinary course of business, in conformity with the Loan Documents and to which the Financing Agent has agreed, subject to comp...
No Exercise of Remedies. Unless and until the First Priority Secured Parties shall have received indefeasible payment in full in cash of all First Priority Secured Obligations and all obligations under the First Priority Indenture shall have terminated pursuant to the respective terms and provisions thereof, except as otherwise expressly permitted in Sections 5.2 and 5.3 below, neither Second Priority Trustee nor any Second Priority Secured Party shall, or shall request that the Collateral Agent, ask, demand or xxx for any right or remedy in respect of all or any part of the Collateral and Second Priority Trustee on behalf of itself and each Holder of Second Priority Notes agrees not to take or receive from any Pledgor, directly or indirectly, in cash or other Property or by set-off or in any other manner, whether pursuant to any enforcement, collection, execution, levy or foreclosure proceeding or otherwise, all or any part of the Collateral. Without limiting the generality of the foregoing, unless and until the First Priority Secured Parties shall have received indefeasible payment in full in cash of all First Priority Secured Obligations and all obligations under the First Priority Indenture shall have terminated pursuant to the respective terms and provisions thereof, (i) neither Second Priority Trustee nor any Holder of Second Priority Notes shall, or shall instruct the Collateral Agent to, exercise or otherwise assert any right or remedy in respect of all or any part of the Collateral or any Liens thereon; and (ii) the sole right of Second Priority Secured Parties with respect to the Collateral shall be to have the Collateral Agent hold a Lien thereon securing the Second Priority Secured Obligations to the extent granted pursuant to the Collateral Documents and to receive Proceeds thereof in accordance with Section 7 hereof.
No Exercise of Remedies. Without Consent of Bank 18 Section 8.08 ........ Determination of Taxability Not a Default 18 ARTICLE IX ........
No Exercise of Remedies. During the period (the “Forbearance Period”) from the date hereof until the earlier of (a) payment in full of all of the Obligations, or (b) the occurrence of a Default hereunder, or (c) the Termination Date (as hereinafter defined), the Bank agrees it will not take any further action against the Borrower or the Guarantor or exercise or enforce any other rights or remedies provided for in the Financing Documents or otherwise available to it, at law or in equity, by virtue of the occurrence of the defaults which now exist or take any action against any property in which the any Obligor has any interest, which action is available to the Bank as a result of said Defaults.
No Exercise of Remedies. Prior to payment in full of the Senior Obligations, the Subordinated Lender shall have no right to sue for or otherwise exercise any remedies with respect to any Lender Permitted Payment, or otherwise take any action against the Company or the Company’s property with respect to any Lender Permitted Payment.
No Exercise of Remedies. The Holder shall not, without the prior written consent of all of the Senior Creditors so long as any Senior Indebtedness is outstanding, have any right to: (a) accelerate the maturity of the Subordinated Indebtedness as a consequence of any event, circumstance or condition constituting a default in respect thereof (except that if the maturity of all the Senior Indebtedness shall have been accelerated, the Holder may, subject to the terms and conditions of these subordination terms, so accelerate the maturity of the Subordinated Indebtedness in accordance with the terms thereof, provided that if for any reason the acceleration of any Senior Indebtedness shall be rescinded, the acceleration of the maturity of any of the Subordinated Indebtedness shall be automatically rescinded contemporaneously therewith irrespective of any action or failure to act of the Holder), or (b) in any circumstance whatsoever, either (i) institute any proceedings or seek any other remedy allowed at law or in equity to enforce the Subordinated Indebtedness or (ii) transfer or assign any of its rights, title or interest thereto, so long as any Senior Indebtedness is outstanding, except in accordance with Sections 3.7(b) and 3.11 hereof.
No Exercise of Remedies. Notwithstanding anything in this Agreement or any Tranche B Security Instrument to the contrary but only prior to the expiration of the standstill provisions contained in Section 3.18, the Agent shall not, without the prior written consent of all of the Senior Creditors so long as any Senior Obligations are outstanding, have any right to in any circumstance whatsoever, either (a) institute any proceedings or seek any other remedy allowed at law or in equity to enforce the Subordinated Indebtedness other than the foreclosure upon or exercise of other remedies with respect to Brazos A-19 or the MMR Guaranty if applicable or (b) transfer or assign any of its rights, title or interest in and to any of the Subordinated Indebtedness, except in accordance with Sections 3.08(b) and 3.11 hereof.
No Exercise of Remedies. During the period (the “Forbearance Period”) from the date hereof until the Termination Date (as defined in Section 5.1(a) hereof), the Lender agrees that it will not (except as otherwise expressly set forth herein), take any action against the Obligors or exercise or enforce any rights or remedies provided for in the Credit Documents or otherwise available to it, at law or in equity, or take any action against any property in which any of the Obligors has any interest. Without limiting the generality of the foregoing, during the Forbearance Period, the Lender shall not commence or initiate any Enforcement Proceeding.
No Exercise of Remedies. (a) Unless and until the Senior Loan Claims have been paid in full, no Junior Lender shall assert any right or remedy in respect of the Junior Claims, the Common Collateral or any Lien therein held by the Junior Lenders or any of them (including without limitation, under or in respect of the Junior Security Agreement).
(b) Each Junior Lender agrees not to take or receive from or on behalf of Holdings or the Borrower, directly or indirectly, in cash or other property or by setoff, counterclaim or in any other manner (whether pursuant to any enforcement, collection, execution, levy or foreclosure proceeding or otherwise) any Collateral (including any Common Collateral) or any proceeds of the Collateral (including any Common Collateral), unless and until all Senior Loan Claims shall have been paid in full. Without limiting the generality of the foregoing, unless and until the Senior Loan Claims have been paid in full, the sole right of the Junior Lenders with respect to the Collateral is to hold a Lien on the Common Collateral pursuant to the Junior Security Agreement for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, after payment in full of the Senior Loan Claims.
