Common use of The Noteholder Representative May File Proofs of Claim Clause in Contracts

The Noteholder Representative May File Proofs of Claim. (i) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Noteholder Representative (irrespective of whether the principal of any Note shall then be due and payable as expressed in the Loan Documents or by declaration or otherwise and irrespective of whether the Noteholder Representative shall have made any demand on the Borrowers) shall be entitled and empowered, by intervention in such proceeding or otherwise: (A) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Notes and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Purchasers and the Noteholder Representative (including any claim for the reasonable compensation, expenses, disbursements and advances of the Purchasers and the Noteholder Representative and its agents and counsel and all other amounts due the Purchasers and the Noteholder Representative under the Loan Documents) allowed in such judicial proceeding; and (B) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same. (ii) Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Purchaser to make such payments to the Noteholder Representative and, if the Noteholder Representative shall consent to the making of such payments directly to the Purchasers, to pay to the Noteholder Representative any amount due for the reasonable compensation, expenses, disbursements and advances of the Noteholder Representative and its agents and counsel, and any other amounts due the Noteholder Representative under the Loan Documents. Nothing contained herein shall be deemed to authorize the Noteholder Representative to authorize or consent to or accept or adopt on behalf of any Purchaser any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Purchaser or to authorize the Noteholder Representative to vote in respect of the claim of any Purchaser in any such proceeding.

The Noteholder Representative May File Proofs of Claim. (i) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Noteholder Representative (irrespective of whether the principal of any Note shall then be due and payable as expressed in the Loan Documents or by declaration or otherwise and irrespective of whether the Noteholder ​ ​ Representative shall have made any demand on the Borrowers) shall be entitled and empowered, by intervention in such proceeding or otherwise: (A) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Notes and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Purchasers Noteholders and the Noteholder Representative (including any claim for the reasonable compensation, expenses, disbursements and advances of the Purchasers Noteholders and the Noteholder Representative and its agents and counsel and all other amounts due the Purchasers Noteholders and the Noteholder Representative under the Loan Documents) allowed in such judicial proceeding; and (B) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same. (ii) Any custodian, receiver, assignee, trustee, liquidator, sequestrator sequestrator, monitor or other similar official in any such judicial proceeding is hereby authorized by each Purchaser Noteholder to make such payments to the Noteholder Representative and, if the Noteholder Representative shall consent to the making of such payments directly to the PurchasersNoteholders, to pay to the Noteholder Representative any amount due for the reasonable compensation, expenses, disbursements and advances of the Noteholder Representative and its agents and counsel, and any other amounts due the Noteholder Representative under the Loan Documents. Nothing contained herein shall be deemed to authorize the Noteholder Representative to authorize or consent to or accept or adopt on behalf of any Purchaser Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Purchaser Noteholder or to authorize the Noteholder Representative to vote in respect of the claim of any Purchaser Noteholder in any such proceeding.