No Waiver; Amendments; Cumulative Remedies. No delay or omission of the Collateral Agent or any other Secured Party to exercise any right or remedy granted under this Agreement or under any other Secured Transaction Document shall impair such right or remedy or be construed to be a waiver of any default thereunder or an acquiescence therein, and any single or partial exercise of any such right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy. No waiver, amendment or other variation of the terms, conditions or provisions of this Agreement whatsoever (other than any Amendment or Assumption Agreement) shall be valid unless in writing signed by the Collateral Agent and then only to the extent in such writing specifically set forth. In addition, all such waivers or amendments shall be effective only if authorized pursuant to the applicable provisions under the Indenture, the other Note Documents or the Intercreditor Agreement. All rights and remedies contained in this Agreement or by law afforded shall be cumulative and all shall be available to the Collateral Agent and the Secured Parties until the termination of this Agreement in accordance with its terms.
Appears in 2 contracts
Samples: Second Lien Guaranty and Collateral Agreement (Ultra Petroleum Corp), Exchange Agreement (Ultra Petroleum Corp)
No Waiver; Amendments; Cumulative Remedies. No delay or omission of the Collateral Agent or any other Secured Party to exercise any right or remedy granted under this Agreement or under any other Secured Transaction Document shall impair such right or remedy or be construed to be a waiver of any default thereunder or an acquiescence therein, and any single or partial exercise of any such right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy. No waiver, amendment or other variation of the terms, conditions or provisions of this Agreement whatsoever (other than any Amendment or Assumption Agreement) shall be valid unless in writing signed by the Collateral Agent and then only to the extent in such writing specifically set forth. In addition, all such waivers or amendments shall be effective only if authorized pursuant to given with the applicable provisions necessary approvals of the requisite percentage of Revolving Lenders under the IndentureRevolving Credit Agreement and of the requisite percentage of Term Loan Lenders under the Term Loan Agreement, the other Note Documents or the Intercreditor Agreementif applicable. All rights and remedies contained in this Agreement or by law afforded shall be cumulative and all shall be available to the Collateral Agent and the Secured Parties until the termination of this Agreement in accordance with its terms.
Appears in 2 contracts
Samples: Guaranty and Collateral Agreement, Guaranty and Collateral Agreement (Ultra Petroleum Corp)
No Waiver; Amendments; Cumulative Remedies. No delay or omission of the Collateral Administrative Agent or any other Secured Party Lender to exercise any right or remedy granted under this Pledge Agreement or under any other Secured Transaction Document shall impair such right or remedy or be construed to be a waiver of any default thereunder Default or an acquiescence therein, and any single or partial exercise of any such right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy. No Except in the case of releases of Collateral in accordance with Section 9.10 of the Credit Agreement, no waiver, amendment or other variation of the terms, conditions or provisions of this Pledge Agreement whatsoever (other than any Amendment or Assumption Agreement) shall be valid unless in writing signed by the Collateral Administrative Agent with the concurrence or at the direction of the Lenders required under Section 10.01 of the Credit Agreement and then only to the extent in such writing specifically set forth. In addition, all such waivers or amendments shall be effective only if authorized pursuant to the applicable provisions under the Indenture, the other Note Documents or the Intercreditor Agreement. All rights and remedies contained in this Pledge Agreement or by law afforded shall be cumulative and all shall be available to the Collateral Administrative Agent and the Secured Parties until the termination of this the Commitments, the expiration or termination of all Letters of Credit (other than Letters of Credit that have been cash collateralized (on terms reasonably acceptable to the Issuing Bank) or otherwise addressed in a manner satisfactory to the Issuing Bank) and payment in cash in full of all Secured Obligations (other than (a) contingent obligations, tax gross-up or yield protection obligations, in each case for which no claim has been made, and (b) obligations and liabilities under Hedge Transactions or Treasury Management Services Agreement in accordance with its termsas to which arrangements satisfactory to the applicable Lender Counterparty, as applicable, shall have been made).
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