Common use of Rights of Secured Parties in Respect of Obligations Clause in Contracts

Rights of Secured Parties in Respect of Obligations. Notwithstanding any other provision of this Agreement or any Security Document, the right of each Secured Party to receive payment of the Obligations held by such Secured Party when due (whether at the stated maturity thereof, by acceleration or otherwise), as expressed in the instruments evidencing or agreements governing such Obligations, or to institute suit for the enforcement of such payment on or after such due date, shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed by the instruments evidencing or agreements governing such Obligations.

Appears in 5 contracts

Samples: Security Agreement (Solutia Inc), Security Agreement (Solutia Inc), Security Agreement (Polymer Group Inc)

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Rights of Secured Parties in Respect of Obligations. Notwithstanding any other provision of this Agreement or any Security Document, the right of each Secured Party to receive payment of the Obligations held by such Secured Party when due (whether at the stated maturity thereof, by acceleration or otherwise), as expressed in the instruments evidencing or agreements governing such Obligations, Obligations or to institute suit for the enforcement of such payment on or after such due datedate (to the extent suit can be brought without impairing the validity of the Collateral Agent’s lien), shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed by the instruments evidencing or agreements governing such Obligations.

Appears in 3 contracts

Samples: Collateral Sharing Agreement (Constar International Inc), Collateral Sharing Agreement (Constar Inc), Collateral Sharing Agreement (Crown Cork & Seal Co Inc)

Rights of Secured Parties in Respect of Obligations. Notwithstanding any other provision of this Agreement Deed or any Security Document, Document or Note Security Document the right of each Secured Party to receive payment of the Senior Debt, Hedging Debt or 2025 Obligations held by or owed to such Secured Party when due (whether at the stated maturity thereof, by acceleration or otherwise), as expressed in the instruments evidencing or agreements governing such Obligationsobligations, or to institute suit for the enforcement of such payment on or after such due date, shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed by the instruments evidencing or agreements governing such Obligationsobligations.

Appears in 3 contracts

Samples: Priority Agreement, Priority Agreement (Smurfit Kappa Acquisitions), Priority Agreement (JSG Funding PLC)

Rights of Secured Parties in Respect of Obligations. Notwithstanding any other provision of this Agreement or any Security Document, the right of each Secured Party to receive payment of the Obligations held by such Secured Party when due (whether at the stated maturity thereof, by acceleration or otherwise), as expressed in the instruments evidencing or agreements governing such Obligations, Obligations or to institute suit for the enforcement of such payment on or after such due date, shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed by the instruments evidencing or agreements governing such Obligations.

Appears in 2 contracts

Samples: Collateral Sharing Agreement (Lucent Technologies Inc), Security Agreement (Spirit AeroSystems Holdings, Inc.)

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Rights of Secured Parties in Respect of Obligations. Notwithstanding any other provision of this Agreement or any Security Document, but subject to the terms of the Intercreditor and Subordination Agreement the right of each Secured Party to receive payment of the Obligations held by such Secured Party when due (whether at the stated maturity thereof, by acceleration or otherwise), as expressed in the instruments evidencing or agreements governing such Obligations, Obligations or to institute suit for the enforcement of such payment on or after such due date, shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed by the instruments evidencing or agreements governing such Obligations.

Appears in 1 contract

Samples: Security Agreement (Spirit AeroSystems Holdings, Inc.)

Rights of Secured Parties in Respect of Obligations. Notwithstanding any other provision of this Agreement or any Security Financing Document, the right of each Secured Party to receive payment of the Obligations held by such Secured Party when due (whether at the stated maturity thereof, by acceleration or otherwise), as expressed in the instruments evidencing or agreements governing such Obligations, Obligations or to institute suit for the enforcement of such payment on or after such due datedate (to the extent suit can be brought without impairing the validity of the Trustee’s lien), shall not be impaired or affected without the consent of such Secured Party given in the manner prescribed by the instruments evidencing or agreements governing such Obligations.

Appears in 1 contract

Samples: Security Agreement (Constar International Inc)

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