Restrictions on Actions by the Agents and the Lenders; Sharing Payments. (a) The Administrative Agent and each of the Lenders agrees that it shall not, without the express consent of the Collateral Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of the Administrative Agent and the Collateral Agent, set-off against the Obligations, any amounts owing by such Lenders to the Credit Parties or any accounts of the Credit Parties now or hereafter maintained with such Lenders. The Administrative Agent and each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Collateral Agent, take or cause to be taken any action, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral the purpose of which is, or could be, to give such Lenders any preference or priority against the other Lenders with respect to the Collateral.
Appears in 3 contracts
Samples: Credit Agreement (James River Coal CO), Revolving Credit Agreement (James River Coal CO), Term Credit Agreement (James River Coal CO)
Restrictions on Actions by the Agents and the Lenders; Sharing Payments. (a) The Administrative Agent and each of the Lenders and L/C Issuers agrees that it shall not, without the express consent of the Collateral Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of the Administrative Agent and the Collateral Agent, set-off against the Obligations, any amounts owing by such Lenders or L/C Issuers to the Credit Parties or any accounts of the Credit Parties now or hereafter maintained with such LendersLenders or L/C Issuers. The Administrative Agent and each of the Lenders and the L/C Issuers further agrees that it shall not, unless specifically requested to do so by the Collateral Agent, take or cause to be taken any action, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral the purpose of which is, or could be, to give such Lenders any preference or priority against the other Lenders or L/C Issuers with respect to the Collateral.
Appears in 2 contracts
Samples: Revolving Credit Agreement (James River Coal CO), Revolving Credit Agreement (James River Coal CO)
Restrictions on Actions by the Agents and the Lenders; Sharing Payments. (a) The Each of the Administrative Agent and each of the Lenders agrees that it shall not, without the express consent of the Collateral Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of the Administrative Agent and the Collateral Agent, set-set off against the Obligations, any amounts owing by such Lenders to the Credit Parties Borrower or any accounts of the Credit Parties Borrower now or hereafter maintained with such Lenders. The Each of the Administrative Agent and each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Collateral Agent, take or cause to be taken any action, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral the purpose of which is, or could be, to give such Lenders any preference or priority against the other Lenders with respect to the Collateral.
Appears in 2 contracts
Samples: Senior Secured Credit Agreement (SOI Holdings, Inc.), Senior Secured Credit Agreement (Primus Telecommunications Group Inc)
Restrictions on Actions by the Agents and the Lenders; Sharing Payments. (a) The Each of the Administrative Agent and each of the Lenders agrees that it shall not, without the express consent of the Collateral Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of the Administrative Agent and the Collateral Agent, set-set off against the Obligations, any amounts owing by such Lenders to the Credit Parties Borrower or any accounts of the Credit Parties Borrower now or hereafter maintained with such Lenders. The Each of the Administrative Agent and each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Collateral Agent, take or cause to be taken any action, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral the purpose of which is, or could be, to give such Lenders any preference or priority against the other Lenders with respect to the Collateral.. 92 NY12534:166729.34
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Restrictions on Actions by the Agents and the Lenders; Sharing Payments. (a) The Administrative Agent and each of the Lenders agrees agree that it shall not, without the express consent of the Collateral Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of the Administrative Agent and the Collateral Agent, set-set off against the Obligations, any amounts owing by such Lenders to the Credit Parties Borrower or any accounts of the Credit Parties Borrower now or hereafter maintained with such Lenders. The Administrative Agent and each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Collateral Agent, take or cause to be taken any action, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral the purpose of which is, or could be, to give such Lenders any preference or priority against the other Lenders with respect to the Collateral.
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