Taking and Enforcement of Remedies. (a) Each of the Lenders hereby acknowledges that, to the extent permitted by Laws, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority Lenders regardless of whether any Loan Indebtedness is accelerated pursuant to Section 11.
Appears in 7 contracts
Samples: Credit Agreement (Baytex Energy Corp.), Credit Agreement (Bellatrix Exploration Ltd.), Credit Agreement (Bellatrix Exploration Ltd.)
Taking and Enforcement of Remedies. (a) Each of the Lenders hereby acknowledges that, to the extent permitted by Lawsapplicable law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority of the Lenders regardless of whether any Loan Indebtedness is accelerated acceleration was made pursuant to Section 1112.
Appears in 7 contracts
Samples: Credit Facilities (Hammerhead Energy Inc.), Credit Agreement (Hammerhead Energy Inc.), Credit Agreement (Enerflex Ltd.)
Taking and Enforcement of Remedies. (a) Each of the Lenders hereby acknowledges that, to the extent permitted by Lawsapplicable law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority of the Lenders regardless of whether any Loan Indebtedness is accelerated acceleration was made pursuant to Section 1110.
Appears in 6 contracts
Samples: Credit Agreement (Enbridge Inc), Credit Agreement (Enbridge Inc), Credit Agreement (Potash Corp of Saskatchewan Inc)
Taking and Enforcement of Remedies. (a) Each of the Lenders hereby acknowledges that, to the extent permitted by Lawsapplicable law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority of the Lenders regardless of whether any Loan Indebtedness is accelerated acceleration was made pursuant to Section 11.
Appears in 2 contracts
Samples: Credit Agreement (Greenfire Resources Ltd.), Credit Agreement (Obsidian Energy Ltd.)
Taking and Enforcement of Remedies. (a) Each of the Lenders hereby acknowledges that, to the extent permitted by LawsApplicable Law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority Lenders regardless of whether any Loan Indebtedness is accelerated acceleration occurs pursuant to Section 11.
Appears in 1 contract
Samples: Credit Agreement (North American Energy Partners Inc.)
Taking and Enforcement of Remedies. (a) Each of the Lenders hereby acknowledges that, to the extent permitted by Lawsapplicable law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority of the Lenders regardless of whether any Loan Indebtedness is accelerated acceleration was made pursuant to Section 119.
Appears in 1 contract
Samples: Credit Agreement (Enbridge Inc)
Taking and Enforcement of Remedies. (a) Each of the Lenders hereby acknowledges that, to the extent permitted by Lawsapplicable law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority Lenders regardless of whether any Loan Indebtedness is accelerated pursuant to Section 11.31150487.8
Appears in 1 contract
