Common use of Other Enforcement Rights Clause in Contracts

Other Enforcement Rights. The Administrative Agent may proceed, as provided in Article 11 hereof, to protect and enforce the Unconditional Guaranty by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for the specific performance of any covenant or agreement contained herein (including, without limitation, in this Article 11) or in execution or aid of any power herein granted; or for the recovery of judgment for the obligations hereby guarantied or for the enforcement of any other proper, legal or equitable remedy available under applicable law. Each Lender shall have, to the fullest extent permitted by law and this Agreement, a right of set-off against, any and all credits and any and all other Property of any Guarantor, now or at any time whatsoever with, or in the possession of, such holder, or anyone acting for such holder, as security for any and all obligations of the Guarantors hereunder and such Lien shall be deemed permitted for all purposes under Article 8 hereof.

Appears in 2 contracts

Samples: Credit Agreement (Micro Warehouse Inc), Credit Agreement (Micro Warehouse Inc)

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Other Enforcement Rights. The Administrative Agent may proceed, as provided in Article 11 hereof, to protect and enforce the Unconditional Guaranty by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for the specific performance of any covenant or agreement contained herein (including, without limitation, in this Article 11) or in execution or aid of any power herein granted; or for the recovery of judgment for the obligations hereby guarantied or for the enforcement of any other proper, legal or equitable remedy available under applicable law. Each Lender Bank shall have, to the fullest extent permitted by law and this Agreement, a Lien upon, and right of set-off against, any and all credits and any and all other Property of any Subsidiary Guarantor, now or at any time whatsoever with, or in the possession of, such holder, or anyone acting for such holder, as security for any and all obligations of the Subsidiary Guarantors hereunder and such Lien shall be deemed permitted for all purposes under Article 8 hereof.

Appears in 2 contracts

Samples: Credit Agreement (Daka International Inc), Credit Agreement (Daka International Inc)

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Other Enforcement Rights. The Administrative Agent may proceed, as provided in Article 11 hereof, to protect and enforce the Unconditional Guaranty by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for the specific performance of any covenant or agreement contained herein (including, without limitation, in this Article 11) or in execution or aid of any power herein granted; or for the recovery of judgment for the obligations hereby guarantied or for the enforcement of any other proper, legal or equitable remedy available under applicable law. Each Lender of the Lenders shall have, to the fullest extent permitted by law and this Agreement, a right of set-off against, any and all credits and any and all other Property of any Guarantor, now or at any time whatsoever with, or in the possession of, such holderLender, or anyone acting for such holderLender, as security for any and all obligations of the Guarantors such Guarantor hereunder and such Lien shall be deemed permitted for all purposes under Article 8 hereof.

Appears in 2 contracts

Samples: Credit Agreement (LCC International Inc), Credit Agreement (LCC International Inc)

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