RIGHTS OF OBLIGEE Sample Clauses

RIGHTS OF OBLIGEE. Obligee may, at any time, without consent of or notice to Guarantor, without incurring responsibility to the Guarantor, without impairing or releasing the obligations of the Guarantor, upon or without terms or conditions and in whole or in part:
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RIGHTS OF OBLIGEE. Subsidiary hereby grants to the Obligees, Subsidiary's rights under Sections 1, 2, 3 and 4 of this 1999 Agreement, and, if Subsidiary fails or refuses to take timely action to enforce its rights under Sections 1, 2, 3 or 4 of this 1999 Agreement, any Obligee may enforce such rights on behalf of Subsidiary directly against Parent. Parent hereby consents to such grant.
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RIGHTS OF OBLIGEE. Any Obligee shall have the right to demand that SPHI enforce its rights under paragraph 4, 5 and 6 of this Agreement. If SPHI fails or refuses to take timely action to enforce its rights under paragraphs 4, 5 or 6 of this Agreement or if SPHI defaults in the payment of any Obligation owed to an Obligee on the relevant due date for payment, such Obligee may proceed directly against Parent to enforce SPHI’s rights under paragraphs 4, 5 and 6 of this Agreement or to obtain payment by Parent directly to Obligee of such Obligation owed to such Obligee, in which case Parent, subject to its rights under paragraph 16, shall pay directly to the applicable Obligee the amount necessary to enable discharge of the relevant Obligations. Obligee can only proceed directly against Parent if and when Obligee provides Parent with a Notice of Claim specifying (i) which of the Obligations has not been performed; and (ii) the amount, if any, due and payable to the Obligee together with the name of such Obligee and the due date for payment for such amount. The Notice of Claim shall include a certificate from a duly authorized officer of Obligee confirming the accuracy of the foregoing.
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Related to RIGHTS OF OBLIGEE

  • Priority of Obligations The Company will ensure that its payment obligations under this Agreement and the Notes will at all times rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of the Company.

  • Status of Obligations In the event that the Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Secured Obligations to constitute senior indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Administrative Agent and the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such Subordinated Indebtedness. Without limiting the foregoing, the Secured Obligations are hereby designated as “senior indebtedness” and as “designated senior indebtedness” and words of similar import under and in respect of any indenture or other agreement or instrument under which such Subordinated Indebtedness is outstanding and are further given all such other designations as shall be required under the terms of any such Subordinated Indebtedness in order that the Lenders may have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such Subordinated Indebtedness.

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

  • Reinstatement of Obligations Guarantor agrees that this Guaranty shall continue to be effective or be reinstated, as the case may be, with respect to any Obligations if at any time payment of any such Obligations is rescinded or otherwise must be restored by the Agent and/or the Lenders upon the bankruptcy or reorganization of the Borrower or any Guarantor or otherwise.

  • 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);

  • Rights of Set-Off Each party may set-off against amounts owing by it hereunder to another Person any amounts owing or accruing due by such Person to it or any of its Affiliates, without duplication.

  • Nonpayment of Obligations Any amount due and owing on the Revolving Note or any of the Obligations, whether by its terms or as otherwise provided herein, is not paid on the date such amount is due.

  • Fulfillment of Obligations Any obligation of any party to any other party under this Agreement, which obligation is performed, satisfied or fulfilled by an Affiliate of such party, shall be deemed to have been performed, satisfied or fulfilled by such party.

  • Ranking of Obligations The Company’s payment obligations under this Agreement and the Notes will, upon issuance of the Notes, rank pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of the Company and senior to any mandatorily redeemable Preferred Stock issued by the Company.

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