Common use of Noninterference, etc Clause in Contracts

Noninterference, etc. The Borrower shall not (i) except to the extent expressly permitted or contemplated by Section 5.2 of the Sale and Servicing Agreement, waive or alter, or permit to be waived or altered any of its rights under the Collateral (or any agreement or instrument relating thereto) without the prior written consent of the Administrative Agent (acting at the direction of the Required Lending Groups); or (ii) fail to pay any tax, assessment, charge or fee levied or assessed against the Collateral, or to defend any action, if such failure to pay or defend may adversely affect the priority or enforceability of the Borrower's right, title or interest in and to the Collateral or the Administrative Agent's lien on, and security interest in, the Collateral for the benefit of the Secured Parties; or (iii) take any action, or fail to take any action, if such action or failure to take action will interfere with the enforcement of any rights under the Basic Agreements.

Appears in 2 contracts

Samples: Security and Funding Agreement (Americredit Corp), Security Agreement (Americredit Corp)

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Noninterference, etc. The Borrower shall not (i) except to the extent -------------------- expressly permitted or contemplated by Section 5.2 of the Sale and Servicing Agreement, waive or alter, or permit to be waived or altered any of its rights under the Collateral (or any agreement or instrument relating thereto) without the prior written consent of the Administrative Agent (acting at the direction of the Required Lending Groups); or (ii) fail to pay any tax, assessment, charge or fee levied or assessed against the Collateral, or to defend any action, if such failure to pay or defend may adversely affect the priority or enforceability of the Borrower's right, title or interest in and to the Collateral or the Administrative Agent's lien on, and security interest in, the Collateral for the benefit of the Secured Parties; or (iii) take any action, or fail to take any action, if such action or failure to take action will interfere with the enforcement of any rights under the Basic Agreements.

Appears in 2 contracts

Samples: Security and Funding Agreement (Americredit Corp), Security and Funding Agreement (Americredit Corp)

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Noninterference, etc. The Borrower shall not (i) except to the -------------------- extent expressly permitted or contemplated by Section 5.2 of the Sale and ----------- Servicing Agreement, waive or alter, or permit to be waived or altered any of its rights under the Collateral (or any agreement or instrument relating thereto) without the prior written consent of the Administrative Agent (acting at the direction of the Required Lending GroupsAPA Banks); or (ii) fail to pay any tax, assessment, charge or fee levied or assessed against the Collateral, or to defend any action, if such failure to pay or defend may adversely affect the priority or enforceability of the Borrower's right, title or interest in and to the Collateral or the Administrative Agent's lien on, and security interest in, the Collateral for the benefit of the Secured Parties; or (iii) take any action, or fail to take any action, if such action or failure to take action will interfere with the enforcement of any rights under the Basic Agreements.

Appears in 1 contract

Samples: Security and Funding Agreement (Americredit Corp)

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