Separate Exercise of Remedies. The Administrative Agent (on behalf of the Secured Parties) may exercise remedies against each Borrower in a Fund Group and its property separately, whether or not the Administrative Agent exercises remedies against any other Borrower in such Fund Group or its property. The Administrative Agent may enforce one or more Borrower’s obligations without enforcing any other Borrower’s obligations and vice versa, in each case, within a Fund Group. Any failure or inability of the Administrative Agent to enforce one or more Borrower’s obligations shall not in any way limit the Administrative Agent’s right to enforce the obligations of the other Borrowers in such Fund Group. If the Administrative Agent forecloses or exercises similar remedies under any one or more Collateral Documents in respect of such Fund Group then such foreclosure or similar remedy shall be deemed to reduce the balance of the Loans of such Fund Group only to the extent of the cash proceeds actually realized by the Lenders from such foreclosure or similar remedy or, if applicable, the Administrative Agent’s credit bid at such sale, regardless of the effect of such foreclosure or similar remedy on the Loans of such Fund Group secured by such Collateral Documents under the applicable state law.
Appears in 6 contracts
Samples: Revolving Credit Agreement (AB Private Credit Investors Corp), Revolving Credit Agreement (AB Private Credit Investors Corp), Revolving Credit Agreement (AB Private Credit Investors Corp)
