Rights of Lender; Limitations on Lender’s Obligations. (a) Subject to each Loan Party’s rights and duties under the Bankruptcy Code (including Section 365 of the Bankruptcy Code), and anything herein to the contrary notwithstanding, (i) each Loan Party shall remain liable under the contracts and agreements included in such Loan Party’s Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Credit Agreement had not been executed (including paying cure costs if such contracts or agreements are assumed), (ii) the exercise by the Lender of any of the rights hereunder shall not release any Loan Party from any of its duties or obligations under the contracts and agreements included in the Collateral, and (iii) no Secured Party shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of this Credit Agreement or any other Loan Document, nor shall any Secured Party be obligated to perform any of the obligations or duties of any Loan Party thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.
(b) Except as otherwise provided in this subsection (b), each Loan Party will continue to collect, at its own expense, all amounts due or to become due such Loan Party under the Receivables and Related Contracts. In connection with such collections, such Loan Party may take (and, at Lender’s direction, will take) such action as such Loan Party or the Lender may reasonably deem necessary or advisable to enforce collection of the Receivables and Related Contracts; provided, however, that, subject to any requirement of notice provided in the Orders or in Section 8.02, the Lender shall have the right at any time, upon the occurrence and during the continuance of an Event of Default, to notify the obligors, under any Receivables and Related Contracts of the assignment of such Receivables and Related Contracts to the Lender and to direct such obligors to make payment of all amounts due or to become due to such Loan Party thereunder directly to the Lender and, upon such notification and at the expense of such Loan Party, to enforce collection of any such Receivables and Related Contracts, to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as such Loan Party might have done, and to otherwise exercise all rights with respect to such Receivables and Related Contracts, including, without limitation, those set forth in Sec...
Rights of Lender; Limitations on Lender’s Obligations. Lender shall not have any obligation or liability by reason of or arising out of this Agreement or the receipt by Lender of any payment relating to any Pledged Collateral pursuant hereto (other than to return all or a portion of such payment if either Lender or Pledgor would be required by law to do so), nor shall Lender be obligated in any manner (a) to perform any of the duties or obligations of Pledgor under or pursuant to the Operating Agreements, (b) to make any payment or to make any inquiry as to the nature or the sufficiency of any payment received by Lender or as to the sufficiency of any performance by any party under the Operating Agreements or (c) to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to Lender or to which it may be entitled at any time or times, pursuant to this Agreement or the Operating Agreements.
Rights of Lender; Limitations on Lender’s Obligations. It is expressly agreed by the Company that, anything herein to the contrary notwithstanding, the Company shall remain liable under each Contract and Document to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with and pursuant to the terms and provisions of each such Contract or Document. No Lender shall have any obligation or liability under any Contract or Document by reason of or arising out of this Security Agreement or the granting to such Lender of a security interest therein or the receipt by Lender of any payment relating to any Contract or Document pursuant hereto, nor shall Lender be required or obligated in any manner to perform or fulfill any of the obligations of the Company under or pursuant to any Contract or Document, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contract or Document, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. In the event that any asset of the Company which, by the terms of any agreement in existence on the date hereof, does not permit the granting of a security interest, the Company hereby grants to each Lender a security interest in all proceeds received by the Company generated by such assets. The Uniform Commercial Code financing statement to be filed by each Lender in connection with this Security Agreement shall contain a provision to the effect of the immediately foregoing sentence.
Rights of Lender; Limitations on Lender’s Obligations. Subject to each Credit Party's rights and duties under the Bankruptcy Codes (including Section 365 of the U.S. Bankruptcy Code) and the Initial CCAA Order, and anything herein to the contrary notwithstanding, (i) each Credit Party shall remain liable under the contracts and agreements included in such Credit Party's Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (ii) the exercise by the Collateral Agent of any of the rights hereunder shall not release any Credit Party from any of its duties or obligations under the contracts and agreements included in the Collateral and (iii) no Secured Party shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of this Agreement or any other Loan Document, nor shall any Secured Party be obligated to perform any of the obligations or duties of any Credit Party thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.
Rights of Lender; Limitations on Lender’s Obligations. (a) Subject to the Grantor’s rights and duties under the Bankruptcy Code (including Section 365 of the Bankruptcy Code), it is expressly agreed by the Grantor that, anything herein to the contrary notwithstanding, the Grantor shall remain liable under its Contractual Obligations to observe and perform all the conditions and obligations to be observed and performed by it thereunder. Neither the Lender nor any other Secured Party shall have any obligation or liability under any Contractual Obligation by reason of or arising out of this Agreement, the other Loan Documents, or the granting to the Lender of a security interest therein or the receipt by the Lender or any Lender of any payment relating to any Contractual Obligation pursuant hereto, nor shall the Lender be required or obligated in any manner to perform or fulfill any of the obligations of the Grantor under or pursuant to any Contractual Obligation, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contractual Obligation, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts that may have been assigned to it or to which it may be entitled at any time or times.
(b) Subject to Section 10.5 (
Rights of Lender; Limitations on Lender’s Obligations. (a) Grantor Remains Liable under Copyright Licenses. Anything herein to the contrary notwithstanding and so long as Grantor is the owner of such Copyright License, Grantor shall remain liable under each of the Copyright Licenses to which it is a party to observe and perform all the material conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Copyright License. Lender shall not have any obligation or liability under any Copyright License by reason of or arising out of this Security Agreement or the receipt by Lender of any payment relating to such Copyright License pursuant hereto, and Lender shall not be obligated in any manner to perform any of the obligations of Grantor under or pursuant to any Copyright License, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Copyright License, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.
Rights of Lender; Limitations on Lender’s Obligations. (a) It is expressly agreed by each Credit Party that, anything herein to the contrary notwithstanding, such Credit Party shall remain liable under its Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder. Neither any Agent nor any Secured Party shall have any obligation or liability under any Contract by reason of or arising out of this Agreement, the Credit Documents, or the granting to the Collateral Agents of a security interest therein or the receipt by the Administrative Agent or any Lender of any payment relating to any Contract pursuant hereto, nor shall any Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Credit Party under or pursuant to any Contract, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contract, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.
(b) Subject to Section 10.5, each Agent authorizes each Credit Party to collect its Accounts, provided that such collection is performed in accordance with such Credit Party’s customary procedures, and any Agent may, upon the occurrence and during the continuation of any Event of Default and without notice, limit or terminate said authority at any time.
Rights of Lender; Limitations on Lender’s Obligations. (a) The Lender hereby acknowledges that, notwithstanding anything contained in this Security Agreement or any of the Transaction Documents, in accordance with a Subordination Agreement, the Lender has subordinated any security interest or lien that the Lender may have in any property of the Borrower to the security interest of the Prior Lenders in all assets of the Borrower, notwithstanding the respective dates of attachment or perfection of the security interest of the Lender and the Prior Lenders.
Rights of Lender; Limitations on Lender’s Obligations. (a) Sub- ject to Companies' rights and duties under the Bankruptcy Code, it is expressly
Rights of Lender; Limitations on Lender’s Obligations
