Common use of Rights Retained by Grantors Clause in Contracts

Rights Retained by Grantors. So long as no Event of Default shall have occurred and be continuing and no written notice to the contrary has been delivered by the Administrative Agent to the Grantors, the Grantors shall be entitled (a) to receive and retain all revenues and other moneys pledged hereby as Collateral and the proceeds of any disposition of any of their respective Properties constituting Collateral provided that such disposition is permitted under the Credit Agreement, and (b) protect, enforce and exercise its rights under any of the Contract Documents; provided, however, that no Grantor shall exercise nor shall it refrain from exercising any such right if such action or inaction, as applicable, would have a materially adverse effect on the value of the applicable Collateral.

Rights Retained by Grantors. So long as no Event of Default shall have occurred and be continuing and no written notice to the contrary has been delivered by the Administrative Agent to the Grantorsremain uncured or unwaived, the Grantors shall be entitled to (a) to receive and retain all revenues and other moneys pledged hereby as Collateral and the proceeds of any disposition of any of their respective Properties constituting Collateral provided that such disposition is permitted under the Credit Note Purchase Agreement, and (b) protect, enforce and exercise its rights under any of the Contract Documents; providedPROVIDED, howeverHOWEVER, that no Grantor shall exercise nor shall it refrain from exercising any such right if such action or inaction, as applicable, would have a materially adverse effect on the value of the applicable Collateral.