Common use of Rights of Holders of Senior Debt Clause in Contracts

Rights of Holders of Senior Debt. The provisions of this paragraph 7 shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this paragraph 7 shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this paragraph 7 or the obligations hereunder of the holders of the Notes to the holders of Senior Debt, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iii) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety.

Rights of Holders of Senior Debt. The provisions of this paragraph 7 Article X shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders holders, and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this paragraph 7 Article X shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this paragraph 7 Article X or the obligations hereunder of the holders of the Notes to the holders of Senior Debt, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iiiiv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety.. The provisions of this Article X shall continue to be effective, or be

Rights of Holders of Senior Debt. The provisions of this paragraph 7 11G shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this paragraph 7 11G shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company Parent or by any act or failure to act by any such holder, or by any non-compliance by the Company Parent with the terms, provisions and covenants of this Agreement or the Notes. paragraph 11G. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this paragraph 7 11G or the obligations hereunder DAL02:222894.12 002328 41 of the holders of the Notes to the holders of Senior Debt, do any one or more of the following, subject in all cases to the limitations contained in the definition of Senior Debt: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alteralter (including, without limitation, by increasing or decreasing the "Availability Limit" and the "Debt Limit," in each case as defined in the Credit Agreement pursuant to which Senior Debt is incurred), or waive defaults under under, Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iiiiv) exercise or refrain from exercising any rights against the Company Parent and any other Person, including any guarantor or surety.

Rights of Holders of Senior Debt. The provisions of this paragraph 7 Article X shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders holders, and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this paragraph 7 Article X shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes or the Subordinated Contingent Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes or of the Subordinated Contingent Notes, and without impairing or releasing the subordination provided in this paragraph 7 Article X or the obligations hereunder of the holders of the Notes or of the Subordinated Contingent Notes to the holders of Senior Debt, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iiiiv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety. The provisions of this Article X shall continue to be effective, or be reinstated as of the date immediately prior to payment in full of the Senior Debt, as the case may be, if at any time payment, or any part thereof, of any of Senior Debt is rescinded or must otherwise be restored or returned by the holders of Senior Debt upon occurrence of an event described in Section 10.01(a), or otherwise, all as though such payments had not been made.

Rights of Holders of Senior Debt. The provisions of this paragraph 7 shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this paragraph 7 shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this paragraph 7 or the obligations hereunder of the holders of the Notes to the holders of Senior Debt, do any one or more of the following, subject in all cases to the limitations contained in the definition of Senior Debt: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alteralter (including, without limitation, by increasing or decreasing the "Availability Limit" and the "Debt Limit," in each case as defined in the Credit Agreement pursuant to which Senior Debt is incurred), or waive defaults under under, Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iiiiv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety.

Rights of Holders of Senior Debt. The subordination provisions of this paragraph 7 Note shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders holders, and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this paragraph 7 Note shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the NotesNote. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the NotesHolder, and without impairing or releasing the subordination provided in this paragraph 7 Note or the obligations hereunder of the holders of the Notes Holder to the holders of Senior Debt, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iii) sell, exchange, release or otherwise deal with all or any part of the property by whomsoever at any time pledged or mortgaged to secure, or howsoever securing, Senior Debt; (iv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety; and (v) apply any sums, by whomsoever paid or however realized, to Senior Debt.

Rights of Holders of Senior Debt. The subordination provisions of this paragraph 7 Note shall be deemed a continuing offer to all holders Holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders Holders, and no right of any present or future holder Holder of any Senior Debt to enforce subordination as provided in this paragraph 7 Note shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holderHolder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the NotesNote. Without in any way limiting the generality of the foregoing, the holders Holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders Holders of the Notes, and without impairing or releasing the subordination provided in this paragraph 7 Note or the obligations hereunder of the holders Holders of the Notes to the holders Holders of Senior Debt, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; alter (ii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iii) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety.but not