Common use of Obligations of Borrower Unconditional Clause in Contracts

Obligations of Borrower Unconditional. Nothing contained in this Section 9 or elsewhere in this Agreement or in the Note is intended to or shall impair or affect, as between Borrower, its creditors (other than the holders of Senior Debt) and Lender, the obligation of Borrower, which is absolute and unconditional, to pay to Lender the principal of, premium, if any, and interest on, the Note, as and when the same shall become due and payable in accordance wits terms, or to affect the relative rights of Lender and creditors of Borrower other than the holders of Senior Debt, nor shall anything herein or therein prevent or limit Lender from exercising all remedies otherwise permitted by applicable law upon the happening of an Event of Default hereunder, subject to the rights, if any, under this Section 9 of the holders of Senior Debt in respect of assets, whether in cash, property or securities, of Borrower received upon the exercise of any such remedy. Nothing contained in this Section 9 or elsewhere in this Agreement or in the Note, shall, except during the pendency of any dissolution, winding-up, total or partial liquidation, reorganization, recapitalization or readjustment of Borrower or its securities (whether voluntary or involuntary, or in bankruptcy, insolvency, reorganization, liquidation or receivership proceedings, or upon an assignment for the benefit of creditors, of any other marshalling of assets and liabilities of Borrower or otherwise), affect the obligation of Borrower to make, or prevent Borrower from making, at any time (except under the circumstances described in Section 9.5 hereof), payment of principal of, premium, if any, or interest on, the Note.

Appears in 2 contracts

Samples: Subordinated Loan Agreement (Archon Corp), Security Agreement (Archon Corp)

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Obligations of Borrower Unconditional. Nothing contained in this Section 9 8 or elsewhere in this Agreement or in the Note Notes is intended to or shall impair or affectimpair, as between Borrower, its creditors (other than among Borrower and the holders of Senior Debt) and LenderLenders, the obligation of Borrower, which is absolute and unconditional, to pay to Lender the Lenders the principal of, premium, if any, of and interest on, on the Note, Loans and Notes as and when the same shall become due and payable in accordance wits with their terms, or is intended to or shall affect the relative rights of Lender the Lenders and creditors of Borrower other than the holders of the Senior DebtIndebtedness, nor shall anything herein or therein prevent the Lenders or limit Lender the Arranger on their behalf from exercising all remedies otherwise permitted by applicable law upon the happening of an Event of Default hereunderdefault under this Agreement, subject to the rights, if any, under this Section 9 8 of the holders of the Senior Debt Indebtedness in respect of assets, whether in cash, property or securities, securities of Borrower received upon the exercise of any such remedy. Nothing Without limiting the generality of the foregoing, nothing contained in this Section 9 8 shall restrict the right of the Arranger or elsewhere the Lenders to take any action to declare the Securities to be due and payable prior to their stated maturity pursuant to Section 7 or to pursue any rights or remedies hereunder; provided, however, that all Senior Indebtedness then due and payable shall first -------- ------- be paid in this Agreement full before the Lenders or in the Note, shall, except during the pendency of Arranger are entitled to receive any dissolution, winding-up, total direct or partial liquidation, reorganization, recapitalization or readjustment of indirect payment from Borrower or its securities (whether voluntary or involuntary, or in bankruptcy, insolvency, reorganization, liquidation or receivership proceedings, or upon an assignment for the benefit of creditors, of any other marshalling of assets and liabilities of Borrower or otherwise), affect the obligation of Borrower to make, or prevent Borrower from making, at any time (except under the circumstances described in Section 9.5 hereof), payment of principal of, premium, if any, of or interest on, on the NoteLoans and Notes.

Appears in 2 contracts

Samples: Senior Subordinated Credit Agreement (Primestar Inc), Senior Subordinated Credit Agreement (Primestar Inc)

Obligations of Borrower Unconditional. (a) Nothing contained in this Section 9 Article VIII or elsewhere in this Agreement or in the Note Senior Subordinated Notes is intended to or shall impair or affectimpair, as between Borrower, its creditors (other than among the holders of Senior Debt) Borrower and LenderGOF, the obligation of the Borrower, which is absolute and unconditional, to pay to Lender GOF and its successors and assigns the principal of, premium, if any, of and interest on, on the Note, Senior Subordinated Notes as and when the same shall become due and payable in accordance wits with their terms, or is intended to or shall affect the relative rights of Lender the holders of the Senior Subordinated Notes and creditors of the Borrower other than the holders of the Senior DebtIndebtedness, nor shall anything herein or therein prevent GOF and its successors or limit Lender assigns from exercising all remedies otherwise permitted by applicable law upon the happening of an Event of Default hereunderdefault under this Agreement, subject to the rights, if any, under this Section 9 Article VIII of the holders of the Senior Debt Indebtedness in respect of assets, whether in cash, property or securities, securities of the Borrower received upon the exercise of any such remedy. Nothing . (b) Without limiting the generality of the foregoing, nothing contained in this Section 9 Article VIII shall restrict the right of GOF and its successors and assigns to take any action to declare the Senior Subordinated Notes to be due and payable prior to its stated maturity pursuant to Sections 7.01 and 7.02 or elsewhere to pursue any rights or remedies hereunder; provided, however, that all Senior Indebtedness then due and payable shall first be paid in this Agreement or full in the Note, shall, except during the pendency of any dissolution, winding-up, total or partial liquidation, reorganization, recapitalization or readjustment of Borrower cash before GOF or its securities (whether voluntary successors and assigns are entitled to receive any direct or involuntary, or in bankruptcy, insolvency, reorganization, liquidation or receivership proceedings, or upon an assignment for indirect payment from the benefit of creditors, of any other marshalling of assets and liabilities of Borrower or otherwise), affect the obligation of Borrower to make, or prevent Borrower from making, at any time (except under the circumstances described in Section 9.5 hereof), payment of principal of, premium, if any, of or interest on, on the NoteSenior Subordinated Notes.

Appears in 1 contract

Samples: Senior Subordinated Note Purchase Agreement (Matlinpatterson Global Opportunities Partners Lp)

Obligations of Borrower Unconditional. (a) Nothing contained in this Section 9 Article X or elsewhere in this Agreement or in the Note Loan Documents is intended to or shall impair or affectimpair, as between Borrower, its creditors (other than among the holders of Senior Debt) Borrower and Lenderthe Lenders, the obligation of the Borrower, which is absolute and unconditional, to pay to Lender the principal of, premium, if any, and interest on, Lenders the Note, Indebtedness evidenced by the Bridge Loans as and when the same shall become due and payable in accordance wits with their terms, or is intended to or shall affect the relative rights of Lender the Lenders and creditors of the Borrower other than the holders of the Senior DebtIndebtedness, nor shall anything herein or therein prevent the Lenders or limit Lender the Agents on their behalf from AGCO Bridge Loan Agreement exercising all remedies otherwise permitted by applicable law upon the happening of an Event of Default hereunderdefault under this Agreement, subject to the rights, if any, under this Section 9 Article X of the holders of the Senior Debt in respect Indebtedness. (b) Without limiting the generality of assetsthe foregoing, whether in cash, property or securities, of Borrower received upon the exercise of any such remedy. Nothing nothing contained in this Article X will restrict the right of the Agents or the Lenders to take any action to declare the Indebtedness evidenced by the Bridge Loans to be due and payable prior to the Final Maturity Date pursuant to Section 9 or elsewhere in 7.2 of this Agreement or to pursue any rights or remedies hereunder; provided, however, that all Senior Indebtedness then due and payable or thereafter declared to be due and payable shall first be paid in full, in cash or cash equivalents, before the Note, shall, except during Lenders or the pendency Agents are entitled to receive any direct or indirect payment from the Borrower of any dissolution, winding-up, total or partial liquidation, reorganization, recapitalization or readjustment of Borrower or its securities (whether voluntary or involuntary, or in bankruptcy, insolvency, reorganization, liquidation or receivership proceedings, or upon an assignment for the benefit of creditors, of any other marshalling of assets and liabilities of Borrower or otherwise), affect Indebtedness evidenced by the obligation of Borrower to make, or prevent Borrower from making, at any time (except under the circumstances described in Section 9.5 hereof), payment of principal of, premium, if any, or interest on, the NoteBridge Loans.

Appears in 1 contract

Samples: Bridge Loan Agreement (Agco Corp /De)

Obligations of Borrower Unconditional. Nothing contained in this Section 9 Article XIV or elsewhere in this Agreement or in the Note is intended to or shall impair or affectimpair, as between Borrower, its creditors (other than among Borrower and the holders of Senior Debt) and Lender, the obligation of Borrower, which is absolute and unconditional, to pay to the Lender the principal of, premium, if any, of and interest on, on the Note, Obligations as and when the same shall become due and payable in accordance wits with their terms, or is intended to or shall affect the relative rights of the Lender and creditors of Borrower other than the holders of Senior Debtlender under the Existing Loan Agreement, nor shall anything herein or therein prevent or limit the Lender from exercising all remedies otherwise permitted by applicable law Law upon the happening of an Event of Default hereunderunder this Agreement, subject to the rights, if any, under this Section 9 Article XIV of the holders of Senior Debt lender under the Existing Loan Agreement in respect of assets, whether in cash, property or securities, securities of Borrower received upon the exercise of any such remedy. Nothing Without limiting the generality of the foregoing, nothing contained in this Section 9 Article XIV shall restrict the right of the Lender to take any action to declare the Obligations to be due and payable prior to the Tranche A Maturity Date or elsewhere in this Agreement or in the NoteMaturity Date, shall, except during as the pendency of any dissolution, winding-up, total or partial liquidation, reorganization, recapitalization or readjustment of Borrower or its securities (whether voluntary or involuntarycase may be, or to pursue any rights or remedies hereunder; provided, however, that Existing Loan then due and payable shall first be paid in bankruptcy, insolvency, reorganization, liquidation full before the Lender is entitled to receive any direct or receivership proceedings, or upon an assignment for the benefit of creditors, of any other marshalling of assets and liabilities of indirect payment from Borrower or otherwise), affect the obligation of Borrower to make, or prevent Borrower from making, at any time (except under the circumstances described in Section 9.5 hereof), payment of principal of, premium, if any, of or interest on, on the NoteObligations.

Appears in 1 contract

Samples: Loan Agreement (Dyax Corp)

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Obligations of Borrower Unconditional. (a) Nothing contained in this Section 9 Article VIII or elsewhere in this Agreement or in the Note Senior Subordinated Notes is intended to or shall impair or affectimpair, as between Borrower, its creditors (other than among the holders of Senior Debt) Borrower and LenderGOF, the obligation of the Borrower, which is absolute and unconditional, to pay to Lender GOF and its successors and assigns the principal of, premium, if any, of and interest on, on the Note, Senior Subordinated Notes as and when the same shall become due and payable in accordance wits with their terms, or is intended to or shall affect the relative rights of Lender the holders of the Senior Subordinated Notes and creditors of the Borrower other than the holders of the Senior DebtIndebtedness, nor shall anything herein or therein prevent GOF and its successors or limit Lender assigns from exercising all remedies otherwise permitted by applicable law upon the happening of an Event of Default hereunderdefault under this Agreement, subject to the rights, if any, under this Section 9 Article VIII of the holders of the Senior Debt Indebtedness in respect of assets, whether in cash, property or securities, securities of the Borrower received upon the exercise of any such remedy. Nothing . (b) Without limiting the generality of the foregoing, nothing contained in this Section 9 Article VIII shall restrict the right of GOF and its successors and assigns to take any action to declare the Senior Subordinated Notes to be due and payable prior to its stated maturity pursuant to SECTIONS 7.01 AND 7.02 or elsewhere to pursue any rights or remedies hereunder; provided, however, that all Senior Indebtedness then due and payable shall first be paid in this Agreement or full in the Note, shall, except during the pendency of any dissolution, winding-up, total or partial liquidation, reorganization, recapitalization or readjustment of Borrower cash before GOF or its securities (whether voluntary successors and assigns are entitled to receive any direct or involuntary, or in bankruptcy, insolvency, reorganization, liquidation or receivership proceedings, or upon an assignment for indirect payment from the benefit of creditors, of any other marshalling of assets and liabilities of Borrower or otherwise), affect the obligation of Borrower to make, or prevent Borrower from making, at any time (except under the circumstances described in Section 9.5 hereof), payment of principal of, premium, if any, of or interest on, on the NoteSenior Subordinated Notes.

Appears in 1 contract

Samples: Senior Subordinated Note Purchase Agreement (Polymer Group Inc)

Obligations of Borrower Unconditional. Nothing contained in this ------------------------------------- Section 9 13 or elsewhere in this Agreement or in the Note Notes is intended to or shall impair or affectimpair, as between Borrower, its creditors (other than among Borrower and the holders of Senior Debt) and LenderLenders, the obligation of Borrower, which is absolute and unconditional, to pay to Lender the Lenders the principal of, premium, if any, of and interest on, on the Note, Loans and Notes as and when the same shall become due and payable in accordance wits with their terms, or is intended to or shall affect the relative rights of Lender the Lenders and creditors of Borrower other than the holders of the Senior DebtIndebtedness, nor shall anything herein or therein prevent the Lenders or limit Lender the Administrative Agent on their behalf from exercising all remedies otherwise permitted by applicable law upon the happening of an Event of Default hereunderdefault under this Agreement, subject to the rights, if any, under this Section 9 13 of the holders of the Senior Debt Indebtedness in respect of assets, whether in cash, property or securities, securities of Borrower received upon the exercise of any such remedy. Nothing Without limiting the generality of the foregoing, nothing contained in this Section 9 13 shall restrict the right of the Administrative Agent or elsewhere the Lenders to take any action to declare the Securities to be due and payable prior to their stated maturity pursuant to Section 10 or to pursue any rights or remedies hereunder; provided, however, that all Senior Indebtedness then due and -------- ------- payable shall first be paid in this Agreement full before the Lenders or in the Note, shall, except during the pendency of Administrative Agent is entitled to receive any dissolution, winding-up, total direct or partial liquidation, reorganization, recapitalization or readjustment of indirect payment from Borrower or its securities (whether voluntary or involuntary, or in bankruptcy, insolvency, reorganization, liquidation or receivership proceedings, or upon an assignment for the benefit of creditors, of any other marshalling of assets and liabilities of Borrower or otherwise), affect the obligation of Borrower to make, or prevent Borrower from making, at any time (except under the circumstances described in Section 9.5 hereof), payment of principal of, premium, if any, of or interest on, on the NoteLoans and Notes.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Princess Beverly Coal Holding Co Inc)

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