Common use of No Restriction on Rights Clause in Contracts

No Restriction on Rights. Nothing in this Agreement shall be construed to limit or restrict the Administrative Agent, the First Out Lenders or the other First Out Lender Parties from in any way exercising any rights or remedies arising under the Loan Documents, or any documents or agreements executed by the Borrower or provided for under applicable law, except to the extent otherwise expressly provided in this Agreement. No Last Out Term Lender shall have any direct claim against the Borrower or any Loan Party or any right to enforce any of the terms of the Loan Documents, including, but not limited to, exercising any rights or remedies arising under the Orders or any documents or agreements executed by the Borrower or provided for under applicable law, unless and until the First Out Final Payment Date has occurred, other than (i) the enforcement by any Last Out Term Lender of any right of action or claim against the Administrative Agent or any other Lender Party in relation to the enforcement of any Last Out Term Lender’s rights hereunder, (ii) the enforcement of any provision of Section 3.01 in respect of which the Last Out Term Lenders have an approval right under Section 8.01(d)(ii) or Section 8.01(f)(ii), or (iii) the provisions of Section 8.01(d), (e) or (f). Until such time, all rights, remedies, and privileges with respect to the Advances and the other Obligations may be exercised only by the Administrative Agent on behalf of the First Out Lenders and the other First Out Lender Parties and without any requirement of consent or approval of the Last Out Term Lenders.