Common use of Powers Exercisable Notwithstanding Event of Default Clause in Contracts

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative Agent, while in possession of the Collateral (including the cash, Cash Equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Agent hereunder or under the Security Documents), may do any of the things enumerated in this Section 10.20 at the request of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lenders, by appropriate action of such Lenders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, unremedied and unwaived, the Administrative AgentCredit Parties, while in possession of the Collateral (including the cashother than Cash Collateral, Cash Equivalents, securities Possessory Collateral and other personal property Property held by, or required to be deposited with the Trustee hereunder or pledged with, the Administrative Agent hereunder or under the Security Documents), may do any of the things enumerated in this Section 10.20 at Sections 9.02 through 9.04 hereof if the request Holders of a majority in aggregate principal amount of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lendersoutstanding Notes, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing., unremedied and unwaived. This

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative Agent, while in possession of the Collateral (including the cash, Cash Equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Agent hereunder or under the Security Documents), may do any of the things enumerated in this Section 10.20 at the request of the Company and/or the applicable Mortgaged Vessel Secured Guarantor, if the Majority Facility Lenders, by appropriate action of such Lenders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCompany, while in possession of the Collateral (including the other than cash, Cash Equivalentscash equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Trustee or the Collateral Agent hereunder or under the Security Documents), may do any of the things enumerated in this Section 10.20 at Sections 12.02 and 12.03 if the request Trustee in its discretion, or the Holders of a majority in aggregate principal amount of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lendersoutstanding Securities, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This

Powers Exercisable Notwithstanding Event of Default. In IN case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCompany, while in possession of the Collateral (including the other than cash, Cash Equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Agent Trustee hereunder or under the Security Collateral Documents), may do any of the things enumerated in this Section 10.20 11.02 and Section 11.03 if the Trustee in its discretion, or the Holders of a majority in aggregate principal amount at the request maturity of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lendersoutstanding Notes, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCompany, while in possession of the Collateral (including the other than cash, Cash Equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Agent Trustee hereunder or under the Security DocumentsDocuments or with the trustee, mortgagee or other holder of a Prior Lien), may do any of the things enumerated in this Section 10.20 at Sections 11.2 and 11.3 if the request Holders of a majority in aggregate principal amount of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility LendersSecurities outstanding, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentBorrower or any Guarantor, as applicable, while in possession of the Noteholder Collateral (including the other than cash, Cash Equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Collateral Agent hereunder or under the Security DocumentsDocuments or with the trustee, mortgagee or other holder of a Prior Lien), may do any of the things enumerated in this Section 10.20 at the request of the Company and/or the applicable Mortgaged Vessel Guarantor, Sections 4.2 and 4.3 if the Majority Facility LendersHolders, by appropriate action of such Lendersholders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCompany, while in possession of the Notes Collateral (including the other than cash, Cash Equivalentscash equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Agent Trustee hereunder or under the Security Documents), may do any of the things enumerated in this Section 10.20 Sections 12.02 and 12.03 if the Trustee in its discretion, or the Holders of a majority in aggregate principal amount at the request maturity of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lendersoutstanding Securities, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCompany, while in possession of the Mortgaged Collateral (including the other than cash, Cash Equivalentscash equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Agent Trustee hereunder or under the Security DocumentsAgreements), may do any of the things enumerated in this Section 10.20 at Sections 13.02 and 13.03 if the request Trustee in its discretion, or the Holders of a majority in aggregate principal amount of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lendersoutstanding Securities, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This

Powers Exercisable Notwithstanding Event of Default. In Subject to the Intercreditor Agreement, in case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCompany, while in possession of the Collateral (including the other than cash, Cash Equivalentscash equivalents, securities and other personal property held by, or required to be deposited or pledged with, the Administrative Agent Trustee hereunder or under the Security Collateral Documents), may do any of the things enumerated in this Section 10.20 at Sections 13.10 and 13.11 if the request Trustee in its discretion, or the Holders of a majority in aggregate principal amount of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lendersoutstanding Securities, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing. This Section 13.12 shall not apply, however, during the continuance of an Event of Default of the type specified in Section 6.1(1) or 6.1(2).

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCompany or any Guarantor, as applicable, while in possession of the Collateral (including the other than cash, Cash Equivalents, securities Notes and other personal property held by, or required to be deposited or pledged with, the Administrative Collateral Agent or the Trustee hereunder or under the Security DocumentsDocuments or with the trustee, mortgagee or other holder of a Prior Lien), may do any of the things enumerated in this Section 10.20 at the request of the Company and/or the applicable Mortgaged Vessel Guarantor, Sections 12.2 and 12.3 if the Majority Facility LendersHolders, by appropriate action of such Lendersholders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This

Powers Exercisable Notwithstanding Event of Default. In case a Default or an Event of Default shall have occurred and shall be continuing, the Administrative AgentCredit Parties, while in possession of the Collateral (including the cashother than Cash Collateral, Cash Equivalents, securities Possessory Collateral and other personal property Property held by, or required to be deposited or pledged with, the Administrative Agent Trustee hereunder or under the Security Documents), may do any of the things enumerated in this Section 10.20 at Sections 9.02 through 9.04 hereof if the request Holders of a majority in aggregate principal amount of the Company and/or the applicable Mortgaged Vessel Guarantor, if the Majority Facility Lendersoutstanding Notes, by appropriate action of such LendersHolders, shall consent to such action, in which event any certificate filed under any of such Sections shall omit the statement to the effect that no Default or Event of Default has occurred and is continuing.. This