Suspension of Remedies. (a) No failure to exercise and no delay in exercising, on the part of the Trustee or the Holders, any right, power, privilege or remedy under this Article Fourteen and this Guarantee shall operate as a waiver thereof, nor shall any single or partial exercise of any rights, power, privilege or remedy preclude any other or further exercise thereof, or the exercise of any other rights, powers, privileges or remedies. The rights and remedies herein provided for are cumulative and not exclusive of any rights or remedies provided in law or equity.
Suspension of Remedies. (a) During any period described in Section 2.3 hereof in which a Distribution is not permitted to be made on Subordinated Indebtedness, Subordinated Creditors shall not be entitled to (i) accelerate the maturity of any of the Subordinated Indebtedness, exercise any unsecured creditor remedies or other suit, action or proceeding, recover any amounts due or to become due with respect to Subordinated Indebtedness, or exercise any self-help remedies available at law, or (ii) join in, solicit any other Person to join in, or petition to cause the commencement of, any case involving any Obligor under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver for the affairs or property of such Obligor; provided, however, the foregoing limitations with respect to such unsecured creditor remedies shall not be applicable following the earliest to occur of any of the following: (A) the occurrence of an Insolvency Proceeding (as to which Sections 2.5, 2.7, 5.5 and 5.6 hereof shall apply), (B) the maturity or acceleration of all Senior Facility Debt, (C) the expiration of a period of one hundred eighty (180) days following the date of Senior Agent’s receipt of a Junior Default Notice if the Junior Event of Default described therein shall not have been cured or waived within such period, or (D) the Subordinated Debt Maturity Date; and provided, further, that the commencement and/or exercise of such unsecured creditor remedies by Subordinated Creditors shall at all times be subject to Section 3 hereof.
Suspension of Remedies. Until all of the Senior Debt has been finally paid in cash, no Subordinate Creditor shall, directly or indirectly, (i) demand, sue for any payment or distribution or exercise any other remedy sucx Xubordinate Creditor may have in respect of the Subordinated Debt, or (ii) commence, or join with any other creditor (other than Senior Lender and/or the Lenders) in commencing, any Insolvency Event. Notwithstanding the foregoing, a Subordinate Creditor may (a) file such court proceedings against Guarantor as may be necessary under applicable law solely to prevent the expiration of an applicable statute of limitations in respect of any claim or cause of action in respect of the Subordinated Debt, provided, that (i) Subordinate Creditor shall provide Senior Lender with not less than ten (10) days prior written notice to Senior Lender of the commencement of such court proceedings against Guarantor and (ii) in no event shall Subordinate Creditor be permitted to seek any enforcement remedy, obtain a judgment lien or execute on any judgment so obtained against Guarantor until the Credit Agreement shall have terminated as provided therein and the Senior Lenders shall have received indefeasible payment in full of the Senior Debt in cash or (b) file proofs of claim reasonably acceptable to Senior Lender in any bankruptcy, insolvency or similar proceeding relating to the Guarantor, provided that the Subordinate Creditor filing such proof of claim shall, promptly after the filing thereof, deliver to Senior Lender such proxies, powers of attorney or other instruments necessary to enable Senior Lender to exercise all voting and consent rights relating to the claim in such proceedings.
Suspension of Remedies. Until the Senior Secured Obligations have been paid in full as provided for in the Senior Loan Documents, Argyle shall not (i) ask, demand, or sue xxx any payment, distribution or any other remedy in respect of the Subordinated Secured Obligations, or (ii) commence, or join with any other creditor (other than the Senior Lenders) in commencing, any Insolvency Event.
Suspension of Remedies. Prior to the indefeasible payment in full of the Senior Debt and the termination of the Credit Agreement in accordance with its terms, the Junior Creditor shall not (a) ask, demand or xxx for any payment or distribution or exercise any other remedy in respect of any Junior Debt or with respect to any Junior Liens, in each case whether arising under contract, by law or in equity (including, without limitation, any action to enforce any guaranty or other credit enhancement in respect of any Junior Debt) or (b) commence, or join with any other creditor (other than the Agent) in commencing, any Insolvency Event.
Suspension of Remedies. Unless and until all of the Senior Debt shall have been fully and indefeasibly paid and satisfied in cash and all financing arrangements to extend Senior Debt among the Borrower, the Administrative Agent and the Senior Lenders have been terminated, the Noteholder shall be prohibited from accelerating payment of the Note or exercising remedies under the Note as a result of a default thereunder or otherwise.
Suspension of Remedies. Except as provided in Sections 3.02(a) or (b), and during any period of payment subordination provided for in Section 3.02(a) or (b), Subordinate Creditor shall not (i) ask, demand, or xxx for any payment, distribution or any other remedy in respect of the Subordinated Debt, or (ii) commence, or join with any other creditor (other than Lender) in commencing, any Insolvency Event.
Suspension of Remedies. By its execution of this Amendment, Lender and Administrative Agent (a) suspend for one hundred fifty (150) days after the Effective Date of this Amendment their respective remedies against Borrower arising out of any Event of Default resulting from a Borrowing Base Deficiency (as defined in Independent Bank’s Credit Agreement), if any, (b) suspend their respective remedies against Borrower until after December 31, 2015 arising out of any Event of Default resulting from the reclassification of approximately $300,000.00 of 2014 revenue as 2013 revenue, and (c) suspend their respective remedies against Borrower for one hundred fifty (150) days after the Effective Date of this Amendment arising out of any Event of Default resulting from the implementation of any payment blockage under the Intercreditor Agreement dated July 25, 2013, and any amendments thereto, by and between Administrative Agent and Independent Bank due to a Borrowing Base Deficiency, if any.
Suspension of Remedies. (a) No failure to exercise and no delay in exercising, on the part of the Trustee or the Holders, any right, power, privilege or remedy under this Article Ten and the Guarantee shall operate as a waiver thereof, nor shall any single or partial exercise of any rights, power, privilege or remedy preclude any other or further exercise thereof, or the exercise of any other rights, powers, privileges or remedies. The rights and remedies herein provided for are cumulative and not exclusive of any rights or remedies provided in law or equity.
Suspension of Remedies. (a) No failure to exercise and no delay in exercising, on the part of the Trustee or the Holders, any right, power, privilege or remedy under this Article Fourteen and this Guarantee shall operate as a waiver thereof, nor shall any single or partial exercise of any rights, power, privilege or remedy preclude any other or further exercise thereof, or the exercise of any other rights, powers, privileges or remedies. The rights and remedies herein provided for are cumulative and not exclusive of any rights or remedies provided in law or equity. -164- 178 (b) Nothing contained in this Article Fourteen shall limit the right of the Trustee or the Holders to take any action to accelerate the maturity of the Securities pursuant to Article Five or to pursue any rights or remedies hereunder or under applicable law.
