Common use of Non-Impairment of Senior Lenders’ Rights Clause in Contracts

Non-Impairment of Senior Lenders’ Rights. The Senior Lenders may extend, renew, modify or increase the Senior Obligations owing to them or amend or waive any terms of the Credit Agreement or the Senior Security or release, sell or exchange any of the Senior Security or any property or assets subject to a Lien under any of the Senior Security, and may otherwise deal freely with the Borrower and its Subsidiaries, all without affecting the liabilities and obligations of the Trust hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Pope & Talbot Inc /De/), Postponement Agreement (Pope & Talbot Inc /De/)

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Non-Impairment of Senior Lenders’ Rights. The Senior Lenders may extend, renew, modify or increase the Senior Obligations owing to them or amend or waive any terms of the Credit Agreement or the Senior Security or release, sell or exchange any of the Senior Security or any property or assets subject to a Lien under any of the Senior Security, and may otherwise deal freely with the Borrower and its Subsidiaries, all without affecting the liabilities and obligations of the Trust Subordinate Lender hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Pope & Talbot Inc /De/), Postponement Agreement (Pope & Talbot Inc /De/)

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Non-Impairment of Senior Lenders’ Rights. The Senior Lenders may extend, renew, modify or increase the Senior Obligations owing to them or amend or waive any terms of the Credit Agreement or the Senior Security or release, sell or exchange any of the Senior Security or any property or assets subject to a Lien under any of the Senior Security, and may otherwise deal freely with the Borrower Borrower, its Subsidiaries and its SubsidiariesSpearfish LP, all without affecting the liabilities and obligations of the Trust Subordinate Lender hereunder.

Appears in 1 contract

Samples: Amending Agreement (Pope & Talbot Inc /De/)

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