Common use of RECOVERIES THROUGH LEGAL PROCEEDINGS Clause in Contracts

RECOVERIES THROUGH LEGAL PROCEEDINGS. If any Bank intends to commence any action in any court it shall give prior notice to the Agent and the other Banks. If any Bank shall commence any action in any court to enforce its rights hereunder and, as a result thereof or in connection therewith, receives any amount, then such Bank shall not be required to share any portion of such amount with any Bank which has the legal right to, but does not, join in such action or commence and diligently prosecute a separate action to enforce its rights in another court.

RECOVERIES THROUGH LEGAL PROCEEDINGS. If any Bank intends to commence any action in any court it shall give prior notice to the Facility Agent and the other Banks. If any Bank shall commence any action in any court to enforce its rights hereunder and, as a result thereof or in connection therewith, receives any amount, then such Bank shall not be required to share any portion of such amount with any Bank which has the legal right to, but does not, join in such action or commence and diligently prosecute a separate action to enforce its rights in another court.

RECOVERIES THROUGH LEGAL PROCEEDINGS. If any Bank intends to commence any action in any court or arbitral proceedings it shall give prior notice to the Agent and the other Banks. If any Bank shall commence any action in any court or arbitral proceedings to enforce its rights hereunder and, as a result thereof or in connection therewith, receives any amount, then such Bank shall not be required to share any portion of such amount with any Bank which has the legal right to, but does not, join in such action or commence and diligently prosecute a separate action to enforce its rights in another courtcourt or arbitral proceedings.