Common use of Right to Realize on Collateral and Enforce Guarantee Clause in Contracts

Right to Realize on Collateral and Enforce Guarantee. Anything contained in any of the Credit Documents to the contrary notwithstanding, the Borrower, the Term Agent and each Term Loan Secured Party hereby agree that no Term Loan Secured Party shall have any right individually to realize upon any of the Collateral or to enforce the Guarantee; it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by the Collateral Trustee or, to the extent permitted by the Collateral Trust Agreement, the Term Agent, on behalf of the Term Loan Secured Parties in accordance with the terms hereof and all powers, rights and remedies under the Security Documents and the Guarantee may be exercised solely by the Collateral Trustee or, to the extent permitted by the Collateral Trust Agreement, the Term Agent.

Appears in 1 contract

Samples: Term Loan Agreement (Chesapeake Energy Corp)

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Right to Realize on Collateral and Enforce Guarantee. Anything contained in any of the Credit Documents to the contrary notwithstanding, the Borrower, the Term Agent Agents, the Joint Lead Arrangers and each Term Loan Secured Bank Party hereby agree that (i) no Term Loan Secured Bank Party shall have any right individually to realize upon any of the Collateral or to enforce the Guarantee; , it being understood and agreed that all powers, rights and remedies hereunder and under the Guaranty may be exercised solely by the Administrative Agent or Collateral Trustee or, to the extent permitted by the Collateral Trust Agreement, the Term Agent, on behalf of the Term Loan Secured Bank Parties in accordance with the terms hereof and thereof and all powers, rights and remedies under the Security Documents and the Guarantee may be exercised solely by the Collateral Trustee orand the Collateral Agent, to in each case, on behalf of the extent permitted Secured Bank Parties, and (ii) in the event of a foreclosure by the Collateral Trust Agreement, Representative on any of the Term Agent.Collateral

Appears in 1 contract

Samples: Credit Agreement (Talen Energy Corp)

Right to Realize on Collateral and Enforce Guarantee. Anything contained in any of the Credit Documents to the contrary notwithstanding, the Borrower, the Term Agent Agents, the Joint Lead Arrangers and each Term Loan Secured Bank Party hereby agree that (i) no Term Loan Secured Bank Party shall have any right individually to realize upon any of the Collateral or to enforce the Guarantee; , it being understood and agreed that all powers, rights and remedies hereunder and under the Guaranty may be exercised solely by the Administrative Agent or Collateral Trustee or, to the extent permitted by the Collateral Trust Agreement, the Term Agent, on behalf of the Term Loan Secured Bank Parties in accordance with the terms hereof and thereof and all powers, rights and remedies under the Security Documents and the Guarantee may be exercised solely by the Collateral Trustee or, to the extent permitted by and the Collateral Trust AgreementAgent, in each case, on behalf of the Term Agent.Secured

Appears in 1 contract

Samples: Credit Agreement (Talen Energy Corp)

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Right to Realize on Collateral and Enforce Guarantee. Anything contained in any of the Credit Documents Document to the contrary notwithstanding, the Borrower, the Term Agent and each Term Loan Secured Party hereby agree that no Term Loan Secured Party shall have any right individually to realize upon any of the Collateral or to enforce the Guarantee; it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by the Collateral Trustee or, to the extent permitted by the Collateral Trust Agreement, the Term Agent, on behalf of the Term Loan Secured Parties in accordance with the terms hereof and all powers, rights and remedies under the Security Documents and the Guarantee may be exercised solely by the Collateral Trustee or, to the extent permitted by the Collateral Trust Agreement, the Term Agent.

Appears in 1 contract

Samples: Term Loan Agreement (Chesapeake Energy Corp)

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