Relief of Obligations under Certain Circumstances Sample Clauses

Relief of Obligations under Certain Circumstances. THE TERMS OF THIS DEBENTURE ARE SUBJECT TO THE TERM OF THAT CERTAIN INTERCREDITOR AGREEMENT (THE “INTERCREDITOR AGREEMENT”), DATED AS OF DECEMBER 16, 2005, BY AND AMONG THE GOVERNOR AND THE COMPANY OF THE BANK OF SCOTLAND, AS AGENT AND SECURITY TRUSTEE (THE “SENIOR SECURITY TRUSTEE”), AND THE BANK OF NEW YORK, AS TRUSTEE, COLLATERAL AGENT AND SUBORDINATED SECURITY TRUSTEE (THE “SUBORDINATED SECURITY TRUSTEE”) AND CERTAIN OTHER PARTIES THERETO. NOTWITHSTANDING ANY CONTRARY PROVISION CONTAINED IN THIS DEBENTURE, IF THE CHARGOR RECEIVES AN INSTRUCTION RELATING TO THE MATTERS SET FORTH IN SECTIONS 5 AND 6 OF THIS DEBENTURE FROM THE SENIOR SECURITY TRUSTEE (A “SENIOR SECURITY TRUSTEE INSTRUCTION”) AND THE SUBORDINATED SECURITY TRUSTEE (A “SUBORDINATED SECURITY TRUSTEE INSTRUCTION”), AND THE CHARGOR REASONABLY BELIEVES THAT THE INSTRUCTIONS SET FORTH IN SUCH SENIOR SECURITY TRUSTEE INSTRUCTION AND SUBORDINATED SECURITY TRUSTEE INSTRUCTION ARE IN CONFLICT, IT SHALL PROMPTLY NOTIFY BOTH THE SENIOR SECURITY TRUSTEE AND THE SUBORDINATED SECURITY TRUSTEE OF SUCH CONFLICT AND CONFIRM IN SUCH NOTICE THAT IT WILL COMPLY WITH THE TERMS OF THE SENIOR SECURITY TRUSTEE INSTRUCTION. FOLLOWING RECEIPT OF SUCH NOTICE BY THE SENIOR SECURITY TRUSTEE AND THE SUBORDINATED SECURITY TRUSTEE, THE CHARGOR SHALL COMPLY WITH THE TERMS OF THE SENIOR SECURITY TRUSTEE INSTRUCTION AND SHALL NOT BE REQUIRED TO COMPLY WITH THE REQUIREMENTS OF SUBORDINATED SECURITY TRUSTEE INSTRUCTION UNTIL THE DISCHARGE OF THE SENIOR SECURED DEBT (AS DEFINED IN THE INTERCREDITOR AGREEMENT). NOTWITHSTANDING THE FOREGOING, THE CHARGOR SHALL NOT BE LIABLE FOR THE BREACH OF THE OBLIGATIONS SET FORTH IN THE SUBORDINATED SECURITY TRUSTEE INSTRUCTION AS A RESULT OF ITS COMPLIANCE WITH THE SENIOR SECURITY TRUSTEE INSTRUCTION.
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Related to Relief of Obligations under Certain Circumstances

  • Mitigation of Obligations If any Lender requests compensation under Section 2.18, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.20, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 2.18 or Section 2.20, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

  • Acceleration of Obligations Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, including (i) any accrued and unpaid interest, (ii) the amounts which would have otherwise come due under Section 2.3(b)(ii) if the Loans had been voluntarily prepaid, (iii) the unpaid principal balance of the Loans and (iv) all other sums, if any, that shall have become due and payable hereunder, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.12 or 8.13 all Obligations shall become immediately due and payable without any action by Lender);

  • Duration of Obligations The Manager’s obligation to provide Disentanglement Services will continue during the period commencing on the date that a Termination Notice is delivered and ending on the date on which the Successor Manager or the re-engaged Manager assumes all of the obligations of the Manager hereunder (the “Disentanglement Period”).

  • Performance of Obligations under Loan Documents The Borrower will pay the Notes according to the reading, tenor and effect thereof, and the Borrower will, and will cause each Subsidiary to, do and perform every act and discharge all of the obligations to be performed and discharged by them under the Loan Documents, including, without limitation, this Agreement, at the time or times and in the manner specified.

  • Termination of Obligations Termination of this Agreement pursuant to Section 10.1 hereof shall terminate all obligations of the parties hereunder, except for the obligations under Article IX, Article X, and Sections 11.4, 11.7, 11.14, 11.15 and 11.16 hereof; provided, however, that termination pursuant to paragraphs (b) or (c) of Section 10.1 shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.

  • Delegation of Obligations The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Issuer and the Servicer.

  • Suspension of Obligations Without prejudice to the foregoing, so long as a Party shall be in default in payment or performance to the other Party under the Agreement and the other Party has not exercised its rights under this Section 8, or, if "Adequate Assurances" is specified as applying to the Agreement in Part XI of the Schedule, during the pendency of a reasonable request to a Party for adequate assurances of its ability to perform its obligations under the Agreement, the other Party may, at its election and without penalty, suspend its obligation to perform under the Agreement.

  • Assumption of Obligations Any buyer or transferee of Lessor's interest in this Lease, whether such transfer is by agreement or by operation of law, shall be deemed to have assumed Lessor's obligation under this Paragraph 15. Each Broker shall be an intended third party beneficiary of the provisions of Paragraph 1.10 and of this Paragraph 15 to the extent of its interest in any commission arising from this Lease and may enforce that right directly against Lessor and its successors.

  • Reaffirmation of Obligations Each Loan Party (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge such Loan Party’s obligations under the Loan Documents.

  • Affirmation of Obligations Each of the Credit Parties hereby acknowledges, agrees and affirms (a) its obligations under the Credit Agreement and the other Loan Documents, including, without limitation, its guaranty obligations thereunder, (b) that such guaranty shall apply to the Obligations in accordance with the terms thereof, (c) the grant of the security interest in all of its assets pursuant to the Loan Documents and (d) that such liens and security interests created and granted are valid and continuing and secure the Obligations in accordance with the terms thereof.

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