Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, the Issuer expressly waives, renounces and knowingly relinquishes any legal right which might otherwise require the Collateral Agent to enforce its rights by judicial process. In so providing for non-judicial remedies, the Issuer recognizes and concedes that such remedies are consistent with the usage of trade, are responsive to commercial necessity, and are the result of a bargain at arm's length. Nothing herein is intended, however, to prevent the Collateral Agent from resorting to judicial process at its option.
Appears in 2 contracts
Samples: Pledge and Security Agreement, Intercreditor Agreement (Vanguard Natural Resources, Inc.)
Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, the Issuer each Debtor expressly waives, renounces and knowingly relinquishes any legal right which might otherwise require the Collateral Agent to enforce its rights by judicial process. In so providing for non-judicial remedies, the Issuer each Debtor recognizes and concedes that such remedies are consistent with the usage of trade, are responsive to commercial necessity, and are the result of a bargain at arm's length. Nothing herein is intended, however, to prevent the Collateral Agent from resorting to judicial process at its option.
Appears in 2 contracts
Samples: Intercreditor Agreement (Vanguard Natural Resources, Inc.), Intercreditor Agreement (Vanguard Natural Resources, LLC)
Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, the Issuer each Debtor expressly waives, renounces and knowingly relinquishes any legal right which might otherwise require the Collateral Agent to enforce its rights by judicial process. In so providing for non-judicial remedies, the Issuer each Debtor recognizes and concedes that such remedies are consistent with the usage of trade, are responsive to commercial necessity, and are the result of a bargain at arm's ’s length. Nothing herein is intended, however, to prevent the Collateral Agent from resorting to judicial process at its option.
Appears in 2 contracts
Samples: Security Agreement (Grizzly Energy, LLC), Pledge and Security Agreement
Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, the Issuer Debtor expressly waives, renounces and knowingly relinquishes any legal right which might otherwise require the Collateral Agent to enforce its rights by judicial process. In so providing for non-judicial remedies, the Issuer Debtor recognizes and concedes that such remedies are consistent with the usage of trade, are responsive to commercial necessity, and are the result of a bargain at arm's length. Nothing herein is intended, however, intended to prevent the Collateral Agent from resorting to judicial process at its option.
Appears in 2 contracts
Samples: Security Agreement and Assignment (Analytical Surveys Inc), Security Agreement and Assignment (Electronic Fab Technology Corp)
Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, the Issuer Debtor expressly waives, renounces and knowingly relinquishes any legal right which might otherwise require the Collateral Agent to enforce its rights by judicial process. In so providing for non-judicial remedies, the Issuer Debtor recognizes and concedes that such non-judicial remedies are consistent with the usage of trade, are responsive to commercial necessity, necessity and are the result of a bargain at arm's ’s length. Nothing herein is intended, however, to prevent the Collateral Agent from resorting to judicial process at its option.
Appears in 1 contract
Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, the each Issuer expressly waives, renounces and knowingly relinquishes any legal right which might otherwise require the Collateral Agent to enforce its rights by judicial process. In so providing for non-judicial remedies, the each Issuer recognizes and concedes that such remedies are consistent with the usage of trade, are responsive to commercial necessity, and are the result of a bargain at arm's length. Nothing herein is intended, however, to prevent the Collateral Agent from resorting to judicial process at its option.
Appears in 1 contract
Samples: Intercreditor Agreement (Vanguard Natural Resources, LLC)