Common use of Subordination of Remedies Clause in Contracts

Subordination of Remedies. Until the Discharge of Senior Debt has occurred, whether or not any Insolvency Event has occurred, no Creditor Obligor will: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt; (b) bring, commence, institute, prosecute, or participate in any lawsuit, action, or proceeding, whether private, judicial, equitable, administrative, or otherwise to enforce its rights or interests in respect of the Subordinated Debt; (c) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (d) exercise any of its rights or remedies in connection with the Subordinated Debt with respect to any Collateral of any Debtor Obligor; (e) exercise any right to set-off or counterclaim in respect of any indebtedness, liabilities, or obligations of such Creditor Obligor to any Debtor Obligor against any of the Subordinated Debt; (f) contest, protest, or object to any exercise of secured creditor remedies by Agent, any other member of the Lender Group, or any Bank Product Provider in connection with the Senior Debt; (g) object to any forbearance by Agent, any other member of the Lender Group, or any Bank Product Provider in connection with the Senior Debt; or (h) commence, or cause to be commenced, or join with any creditor other than Agent or any Lender in commencing, any Insolvency Proceeding against any Debtor Obligor.

Subordination of Remedies. Until the Discharge of Senior Debt has occurred, whether or not any Insolvency Event has occurred, no Creditor Obligor will: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt; (b) bring, commence, institute, prosecute, or participate in any lawsuit, action, or proceeding, whether private, judicial, equitable, administrative, or otherwise to enforce its rights or interests in respect of the Subordinated Debt; (c) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (d) exercise any of its rights or remedies in connection with the Subordinated Debt with respect to any Collateral of any Debtor Obligor; (e) exercise any right to set-off or counterclaim in respect of any indebtednessIndebtedness, liabilities, or obligations of such Creditor Obligor to any Debtor Obligor against any of the Subordinated Debt; (f) in its capacity as a Creditor Obligor, contest, protest, or object to any exercise of secured creditor remedies by Agent, any other member of the Lender Group, or any Bank Product Provider in connection with the Senior Debt; (g) object to any forbearance by Agent, any other member of the Lender Group, or any Bank Product Provider in connection with the Senior Debt; or (h) commence, or cause to be commenced, or join with any creditor other than Agent or any Lender in commencing, any Insolvency Proceeding against any Debtor Obligor.

Subordination of Remedies. Until the Discharge of Senior Debt has occurred, whether or not any Insolvency Event has occurred, no Creditor Obligor will: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated DebtDebt other than in the normal course of settlement of inter group balances; (b) bring, commence, institute, prosecute, or participate in any lawsuit, action, or proceeding, whether private, judicial, equitable, administrative, or otherwise to enforce its rights or interests in respect of the Subordinated Debt; (c) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (d) exercise any of its rights or remedies in connection with the Subordinated Debt with respect to any Collateral of any Debtor Obligor; (e) other than in the normal course of settlement of inter group balances, exercise any right to set-off or counterclaim in respect of any indebtednessIndebtedness, liabilities, or obligations of such Creditor Obligor to any Debtor Obligor against any of the Subordinated Debt; (f) in its capacity as a Creditor Obligor, contest, protest, or object to any exercise of secured creditor remedies by Agent, any other member Agent or any of the Lender Group, or any Bank Product Provider Secured Parties in connection with the Senior Debt; (g) object to any forbearance by Agent, any other member Agent or any of the Lender Group, or any Bank Product Provider Secured Parties in connection with the Senior Debt; or (h) commence, or cause to be commenced, or join with any creditor other than any Agent or any Lender in commencing, any Insolvency Proceeding against any Debtor Obligor.

Subordination of Remedies. Until the Discharge of Senior Debt has occurred, whether or not any Insolvency Event has occurred, no Creditor Obligor will: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt; (b) bring, commence, institute, prosecute, or participate in any lawsuit, action, or proceeding, whether private, judicial, equitable, administrative, or otherwise to enforce its rights or interests in respect of the Subordinated Debt; (c) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (d) exercise any of its rights or remedies in connection with the Subordinated Debt with respect to any Collateral of any Debtor Obligor; (e) exercise any right to set-off or counterclaim in respect of any indebtednessIndebtedness, liabilities, or obligations of such Creditor Obligor to any Debtor Obligor against any of the Subordinated Debt; (f) in its capacity as a Creditor Obligor, contest, protest, or object to any exercise of secured creditor remedies by Agent, Agent or any other member of the Lender Group, or any Bank Product Provider Noteholder Group in connection with the Senior Debt; (g) object to any forbearance by Agent, Agent or any other member of the Lender Group, or any Bank Product Provider Noteholder Group in connection with the Senior Debt; or (h) commence, or cause to be commenced, or join with any creditor other than Agent or any Lender other member of the Noteholder Group in commencing, any Insolvency Proceeding against any Debtor Obligor.

Subordination of Remedies. Until the Discharge of Senior Debt has occurred, whether or not any Insolvency Event has occurred, no Creditor Obligor will: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt; (b) bring, commence, institute, prosecute, or participate in any lawsuit, action, or proceeding, whether private, judicial, equitable, administrative, or otherwise to enforce its rights or interests in respect of the Subordinated Debt; (c) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (d) exercise any of its rights or remedies in connection with the Subordinated Debt with respect to any Collateral of any Debtor Obligor; (e) exercise any right to set-off or counterclaim in respect of any indebtednessIndebtedness, liabilities, or obligations of such Creditor Obligor to any Debtor Obligor against any of the Subordinated Debt; (f) in its capacity as a Creditor Obligor, contest, protest, or object to any exercise of secured creditor remedies by Agent, Agent or any other member of the Lender Group, or any Bank Product Provider Group in connection with the Senior Debt; (g) object to any forbearance by Agent, Agent or any other member of the Lender Group, or any Bank Product Provider Group in connection with the Senior Debt; or (h) commence, or cause to be commenced, or join with any creditor other than Agent or any Lender in commencing, any Insolvency Proceeding against any Debtor Obligor.

Subordination of Remedies. Until the Discharge of Senior Debt has occurred, whether or not any Insolvency Event has occurred, no Creditor Obligor will: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt; (b) bring, commence, institute, prosecute, or participate in any lawsuit, action, or proceeding, whether private, judicial, equitable, administrative, or otherwise to enforce its rights or interests in respect of the Subordinated Debt; (c) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (d) exercise any of its rights or remedies in connection with the Subordinated Debt with respect to any Collateral of any Debtor Obligor; (e) exercise any right to set-off or counterclaim in respect of any indebtednessIndebtedness, liabilities, or obligations of such Creditor Obligor to any Debtor Obligor against any of the Subordinated Debt; (f) in its capacity as a Creditor Obligor, contest, protest, or object to any exercise of secured creditor remedies by Agent, either Agent or any other member of the Lender Group, or any Bank Product Provider Groups in connection with the Senior Debt; (g) object to any forbearance by Agent, either Agent or any other member of the Lender Group, or any Bank Product Provider Groups in connection with the Senior Debt; or (h) commence, or cause to be commenced, or join with any creditor other than either Agent or any Lender in commencing, any Insolvency Proceeding against any Debtor Obligor.