Common use of Other arrangements The Finance Parties may Clause in Contracts

Other arrangements The Finance Parties may. without prejudice to their rights under or pursuant to the Security Documents, at any time and from time to time, on such terms and conditions as they may in their discretion determine, and without notice to the Borrower, grant time or other indulgence to, or compound with, any other person liable (actually or contingently) to the Finance Parties or any of them in respect of all or any part of the Indebtedness, and may release or renew negotiable instruments and take and release securities and hold funds on realisation or suspense account without affecting the liabilities of the Borrower or the rights of the Finance Parties under or pursuant to the Security Documents.

Appears in 4 contracts

Samples: Loan Facility Agreement, Loan Facility Agreement (Gulfmark Offshore Inc), Loan Facility Agreement (Teekay Shipping Corp)

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Other arrangements The Finance Parties may. without prejudice to their rights under or pursuant to the Security Documents, at any time and from time to time, on such terms and conditions as they may in their discretion determine, and without notice to the BorrowerBorrowers, grant time or other indulgence to, or compound with, any other person liable (actually or contingently) to the Finance Parties or any of them in respect of all or any part of the Indebtedness, and may release or renew negotiable instruments and take and release securities and hold funds on realisation or suspense account without affecting the liabilities of the Borrower Borrowers or the rights of the Finance Parties under or pursuant to the Security Documents.

Appears in 3 contracts

Samples: www.lw.com, Loan Facility Agreement (Teekay Shipping Corp), Agreement (Teekay LNG Partners L.P.)

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Other arrangements The Finance Parties may. without prejudice to their rights under or pursuant to the Security Documents, at any time and from time to time, on such terms and conditions as they may in their discretion determine, and without notice to the Borrower, grant time or other indulgence to, or compound with, any other person liable (actually or contingently) to the Finance Parties or any of them in respect of all or any part of the Indebtedness, and may release or renew negotiable instruments and take and release securities and hold funds on realisation or suspense account without affecting the liabilities of the Borrower or the rights of the Finance Parties under or pursuant to the Security Documents.

Appears in 1 contract

Samples: Loan Agreement (Arlington Tankers Ltd.)

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