Common use of Secured Party and Lenders Clause in Contracts

Secured Party and Lenders. Secured Party is the agent for each Lender under the Credit Agreement. The Security Interest and all Rights granted to Secured Party under or in connection with this agreement are for each Lender's ratable benefit. Secured Party may, without the joinder of any Lender, exercise any Rights in Secured Party's or Lenders' favor under or in connection with this agreement, including, without limitation, conducting any foreclosure sales and executing full or partial releases of, amendments or modifications to, or consents or waivers under this agreement. Secured Party's and each Lender's Rights and obligations VIS-A-VIS each other may be subject to one or more separate agreements between those parties. However, no Debtor need inquire about any such agreement or is subject to any terms of it unless that Debtor specifically joins it. Therefore, neither any Debtor nor its successors or assigns is entitled to any benefits or provisions of any such separate agreement or is entitled to rely upon or raise as a defense any party's failure or refusal to comply with the provisions of it.

Appears in 1 contract

Samples: Credit Agreement (Pillowtex Corp)

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Secured Party and Lenders. Secured Party is the administrative ------------------------- agent for each Lender under the Credit Agreement. The Security Interest and all Rights granted to Secured Party under or in connection with this agreement are for each Lender's ratable benefit. Secured Party may, without the joinder of any Lender, exercise any Rights in Secured Party's or Lenders' favor under or in connection with this agreement, including, without limitation, conducting any foreclosure sales and executing full or partial releases of, amendments or modifications to, or consents or waivers under this agreement. Secured Party's and each Lender's Rights and obligations VISvis-Aa-VIS vis each other may be subject to one or more separate agreements between those parties. However, no Debtor need not inquire about any such agreement or and is not subject to any terms of it unless that Debtor specifically joins it. Therefore, neither any Debtor nor its successors or assigns is entitled to any benefits or provisions of any such separate agreement or is entitled to rely upon or raise as a defense any party's failure or refusal to comply with the provisions of it.

Appears in 1 contract

Samples: Credit Agreement (Trikon Technologies Inc)

Secured Party and Lenders. Secured Party is the agent for each Lender under the Credit Agreement. The Security Interest security interest and all Rights rights granted to Secured Party under or in connection with this agreement Agreement are for each Lender's ’s ratable benefit. Secured Party may, without the joinder of any Lender, exercise any Rights rights or remedies in Secured Party's ’s or Lenders' favor under or in connection with this agreementAgreement, including, without limitation, conducting any foreclosure sales and executing full or partial releases of, amendments or modifications to, or consents or waivers under this agreementAgreement. Secured Party's ’s and each Lender's Rights ’s rights and obligations VISvis-Aà-VIS vis each other may be subject to one or more separate agreements between those parties. However, no Debtor Pledgor need not inquire about any such agreement or and is not subject to any terms of it unless that Debtor specifically joins it. Therefore, neither any Debtor Pledgor nor its successors or assigns is entitled to any benefits or provisions of any such separate agreement or is entitled to rely upon or raise as a defense any party's ’s failure or refusal to comply with the provisions of it.

Appears in 1 contract

Samples: Pledge Agreement (Primeenergy Corp)

Secured Party and Lenders. Secured Party is the agent for each Lender under the Credit Agreement. The Security Interest and all Rights granted to Secured Party under or in connection with this agreement are for each Lender's ratable benefit. Secured Party may, without the joinder of any Lender, exercise any Rights in Secured Party's or Lenders' favor under or in connection with this agreement, including, without limitation, conducting any foreclosure sales and executing full or partial releases of, amendments or modifications to, or consents or waivers under this agreement. Secured Party's and each Lender's Rights and obligations VIS-A-VIS each other may be subject to one or more separate agreements between those parties. However, no Debtor need inquire about any such agreement or is subject to any terms of it unless that Debtor specifically joins it. Therefore, neither any Debtor nor its successors or assigns is entitled to any benefits or provisions of any such separate agreement or is entitled to rely upon or raise as a defense any party's failure or refusal to comply with the provisions of it.

Appears in 1 contract

Samples: Security Agreement (Magnetek Inc)

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Secured Party and Lenders. Secured Party is the agent for each Lender under the Credit Agreement. The Security Interest and all Rights granted to Secured Party under or in connection with this agreement are for each Lender's ratable benefit. Secured Party may, without the joinder of any Lender, exercise any Rights in Secured Party's or Lenders' favor under or in connection with this agreement, including, without limitation, conducting any foreclosure sales and executing full or partial releases of, amendments or modifications to, or consents or waivers under this agreement. Secured Party's and each Lender's Rights and obligations VISvis-Aa-VIS vis each other may be subject to one or more separate agreements between those parties. However, no Debtor need inquire about any such agreement or is subject to any terms of it unless that Debtor specifically joins it. Therefore, neither any Debtor nor its successors or assigns is entitled to any benefits or provisions of any such separate agreement or is entitled to rely upon or raise as a defense any party's failure or refusal to comply with the provisions of it.

Appears in 1 contract

Samples: Credit Agreement (Ultrak Inc)

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