STATUS OF OBLIGORS. None of the Obligors has any rights under this Deed against any of the Senior Creditors, the Hedging Banks or the Note Creditors and none of the undertakings given by the Senior Creditors, the Hedging Banks or the Note Creditors are given (or shall be deemed to have been given) to, or for the benefit of, the Obligors (save that after the application of any proceeds in the manner provided in the First to Third sub-paragraphs of Clause 11.1 (Order of Application) the Obligor concerned or other person entitled thereto shall be entitled to any surplus proceeds).
STATUS OF OBLIGORS. Each Obligor and each Junior Creditor acknowledges the priorities, rights and obligations set out herein and undertakes with each of the Senior Finance Parties to comply with its respective obligations hereunder and not to take or agree to take any action which would in any way prejudice or affect the enforcement of the provisions of this Deed or any other Finance Document or do anything which would be inconsistent with any provisions hereof.
STATUS OF OBLIGORS. (a) Each of the Obligors hereby acknowledges the rights and obligations recorded in this Agreement and undertakes with the other parties hereto to observe the provisions of this Agreement at all times and not in any way to prejudice or affect the enforcement of such provisions or do or suffer anything to be done which would be inconsistent with the terms of this Agreement.
(b) None of the Obligors shall have any rights hereunder and none of the undertakings herein contained on the part of the Creditors are given (or shall be deemed to have been given) to, or for the benefit of, the Obligors.
STATUS OF OBLIGORS. Each of the Obligors joins in this Deed for the purpose of acknowledging the priorities, rights and obligations recorded in this Deed and undertakes with each of the other parties hereto to observe the provisions of this Deed at all times and not in any way to prejudice or affect the enforcement of such provisions or do or suffer anything which would be inconsistent with the terms of this Deed.
STATUS OF OBLIGORS. None of the Obligors has any rights under this Agreement against any of the Senior Creditors or the Hedging Banks and none of the undertakings given by the Senior Creditors or the Hedging Banks are given (or shall be deemed to have been given) to, or for the benefit of, the Obligors.
STATUS OF OBLIGORS. The existence or occurrence of any of the following (each an “Event of Default”) shall constitute an Event of Default under this Agreement: Tech Data (whether acting for itself or for any other Company or in its capacity as Servicer hereunder) or any other Company shall fail to pay any amount required to be paid to SunTrust in connection with Purchased Receivables under this Agreement when such amount is due and payable (including payment affected by way of the settlement procedures set forth in Section 3); or Tech Data (whether acting for itself or for any other Company or in its capacity as Servicer hereunder) or any other Company shall default in the performance and observance of any non-monetary provision hereof, which default is incapable of remedy or, if capable of remedy, is not remedied within thirty (30) days after Tech Data or such Company obtains knowledge thereof or receives written notice of such default; or Any Company becomes insolvent, makes an assignment for the benefit of creditors, is generally unable to pay its debts as they fall due, becomes subject to or applies for bankruptcy proceedings, is submitted to, makes, or there is made an application for any protection from its creditors or is put into forced or voluntary liquidation, or the party shall enter into any settlement or commence any proceedings under any law, regulation or decree of any applicable jurisdiction relating to reorganization, arrangement, readjustments of debts, dissolution or liquidation by reason of insolvency, whether now or hereafter in effect, and if any such action is involuntary, it is not dismissed within sixty (60) days of the date thereof; or If any representation, warranty or other statement made herein or in any certificate, exhibit or schedule delivered by any Company hereunder (whether acting for itself or in its capacity as Servicer hereunder) is incorrect or misleading in any material respect as of the date at which it is made or deemed to be made; or Tech Data, acting as Servicer, shall fail to comply with the provisions set forth in Section 11, and such failure is not remedied within five (5) days of the date on which SunTrust sends notice thereof to the Servicer; or
STATUS OF OBLIGORS. None of the Obligors has any rights under this Agreement against any of the Senior Creditors, the Hedging Banks or the Spanish Bond Creditors and none of the undertakings given by the Senior Creditors, the Hedging Banks or the Spanish Bond Creditors are given (or shall be deemed to have been given) to, or for the benefit of, the Obligors.
STATUS OF OBLIGORS. None of the Obligors has any rights under this Agreement against any of the Senior Creditors, the Hedging Banks or the Spanish Bond Creditors and none of the undertakings given by the Senior Creditors, the Hedging Banks or the Spanish Bond Creditors are given (or shall be deemed to have been given) to, or for the benefit of, the Obligors (save that after the application of any proceeds in the manner provided in the First to Third sub-paragraphs of Clause 11.1 (Order of Application) the Obligor concerned or other person entitled thereto shall be entitled to any surplus proceeds).
STATUS OF OBLIGORS. None of the Obligors has any rights under this Agreement against any of the Senior Creditors, Hedging Banks and the LC Issuer and none of the undertakings given by the Senior Creditors, Hedging Banks and the LC Issuer are given (or shall be deemed to have been given) to, or for the benefit of, the Obligors (save that (i) after the application of any proceeds in the manner provided in the first to third sub-paragraphs of Clause 11.1(a) (Order of Application) the Obligor concerned or other person entitled thereto shall be entitled to any surplus proceeds and (ii) after the attainment of the Designated Rating by the Company or any Parent, the Company shall be entitled to request the release of the Security Interests created by the Combined Security Documents in accordance with and to exercise its rights under paragraph 10(b) (Release of Security) of Schedule 7).
STATUS OF OBLIGORS. 10.1 OBLIGORS' ROLE Each Obligor and Investor is party to this agreement in order to acknowledge the priorities, rights and obligations set out in this agreement and undertakes not to take or agree to take any action which may in any way prejudice or affect the enforcement of the provisions of this agreement or do anything which would be inconsistent with any provision of this agreement.
