Suspension of Remedies. 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 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. (i) During any period commencing on the date on which a default under the Subordinated Documents shall have occurred (and of which Junior Agent has provided notice of such default to Senior Agent together with a stated intention to exercise a Collection Action) and ending on the earliest of (A) one hundred eighty (180) days after receipt by the Senior Agent of such notice of such default, (B) acceleration of the Senior Debt, (C) the occurrence of any Insolvency Event, (D) the occurrence of any Senior Default or default under the Subordinated Documents to the extent such Senior Default or default under the Subordinated Documents arises from the merger, s ale, liquidation, dissolution, or change of control of any Loan Party or (E) the commencement by the Senior Agent or any holder of the Senior Debt of any judicial or non judicial action or proceeding against any Loan Party to (I) enforce payment of or to collect the whole or any part of the Senior Debt, (II) enforce any of the rights and remedies available to the Senior Agent or any holder of the Senior Debt with respect to the Senior Debt or any collateral securing the Senior Debt, or (III) realize upon any of the Senior Collateral securing the Senior Debt or exercise any other right or remedy with respect to such collateral, the Junior Lenders shall not take any Collection Action, and, if taken, any such prohibited Collection Action shall be ineffective, provided that until the Senior Debt is paid in full, the Junior Lenders shall not take any Collection Action to realize or foreclose upon any of the Senior Collateral or to exercise any other right or remedy with respect to the Senior Collateral to the extent that Senior Agent has accelerated the Senior Debt and is diligently realizing or foreclosing on the Senior Collateral or exercising any of its rights or remedies in respect thereof. Notwithstanding the foregoing, the Junior Lenders may vote, file proofs of claim and otherwise act with respect to the Subordinated Debt in any Insolvency Event to the extent permitted by Section 11(a).
(ii) During any period commencing on the date on which a default under the Loan Documents shall have occurred (and of which Senior Agent has provided notice of such default to Junior Agent together with a stated intention to exercise a Senior Collection Action) and ending on the earliest of (A) one hundred eighty (180) days after receipt by Junior Agent of such notice of such default, (B) acceleration of the Subordinated D...
Suspension of Remedies. Nothing contained in this Article shall limit the right of the Trustee or the Holders of Securities to take any action to accelerate the maturity of the Securities pursuant to Article Five of this Indenture or to pursue any rights or remedies hereunder or under applicable law, subject to the rights, if any, under this Article of the holders, from time to time, of Senior Indebtedness to receive the cash, property or securities receivable upon the exercise of such rights or remedies.
Suspension of Remedies. 135 EXHIBIT A Transferee Letter of Representation EXHIBIT B Form of Certificate of Transfer EXHIBIT C Form of Certificate of Exchange SCHEDULE 1 Existing Indebtedness
Suspension of Remedies. 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.
Suspension of Remedies. Subject to section 5.02(g), in addition to the restrictions on payment to Xxx-Xxxxxxx and/or on Xxx-Xxxxxxx’x acceptance of payments from Borrower, so long as a Remedy Forbearance Period shall exist and be continuing, Xxx-Xxxxxxx shall not (i) seek, pursue, ask, demand, or xxx for any payment, distribution or any other remedy in respect of the Xxx-Xxxxxxx Debt, any collateral securing the Xxx-Xxxxxxx Debt, or otherwise available under the Xxx-Xxxxxxx Loan Documents, (ii) demand, ask for or apply to any court for the appointment of a receiver to own or operate the Borrower, any of its properties or any of its businesses, or (iii) 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.
