Common use of Waivers by Borrowers Clause in Contracts

Waivers by Borrowers. To the fullest extent permitted by Applicable Law, each Borrower waives (i) the right to trial by jury (which Lender hereby also waives) in any action, suit, proceeding or counterclaim of any kind arising out of or related to any of the Loan Documents, the Obligations or the Collateral; (ii) presentment, demand and protest and notice of presentment, protest, default, non payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender on which such Borrower may in any way be liable and hereby ratifies and confirms whatever Lender may do in this regard; (iii) notice prior to taking possession or control of the Collateral or any bond or security which might be required by any court prior to allowing Lender to exercise any of Lender’s remedies; (iv) the benefit of all valuation, appraisement and exemption laws; (v) any claim against Lender, on any theory of liability, for special, indirect, consequential, or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any of the Loan Documents, any transaction thereunder or the use of the proceeds of any Revolver Loans; and(vi) notice of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to Lender’s entering into this Agreement and that Lender is relying upon the foregoing waivers in its future dealings with Borrowers. Each Borrower warrants and represents that it has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the Court.

Appears in 1 contract

Samples: Loan and Security Agreement (Artesyn Technologies Inc)

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Waivers by Borrowers. To the fullest extent permitted by Applicable Law, each Each Borrower waives (i) the right to trial --------------------- by jury (which Lender hereby also waives) in any action, suit, proceeding or counterclaim of any kind arising out of or related to any of the Loan Documents, the Obligations or the Collateral; (ii) presentment, demand and protest and notice of presentment, protest, default, non payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender on which such Borrower may in any way be liable and hereby ratifies and confirms whatever Lender may do in this regard; (iii) notice prior to taking possession or control of the Collateral or any bond or security which might be required by any court prior to allowing Lender to exercise any of Lender’s remediesCollateral; and (iv) the benefit of all valuation, appraisement and exemption laws; (v) any claim against Lender, on any theory of liability, for special, indirect, consequential, or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any of the Loan Documents, any transaction thereunder or the use of the proceeds of any Revolver Loans; and(vi) notice of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to Lender’s 's entering into this Agreement and that Lender is relying upon the foregoing waivers in its future dealings with Borrowers. Each Borrower warrants and represents that it has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the Court.

Appears in 1 contract

Samples: Loan and Security Agreement (Litchfield Financial Corp /Ma)

Waivers by Borrowers. To the fullest extent permitted by Applicable Law, each Borrower waives (i1) the right to trial by jury (which each Agent, each Collateral Agent and each Lender hereby also waives) in any action, suit, proceeding or counterclaim of any kind arising out of or related to any of the Loan Credit Documents, the Obligations or the Collateral; (ii) presentment, demand and protest and notice of presentment, protest, default, non payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender any Agent on which such Borrower may in any way be liable and hereby ratifies and confirms whatever Lender any Agent may do in this regard; (iii) notice prior to taking possession or control of the Collateral or any bond or security which might be required by any court prior to allowing Lender any Agent to exercise any of Lendersuch Agent’s remedies; (iv) the benefit of all valuation, appraisement and exemption laws; and (v) any claim against Lender, on any theory of liability, for special, indirect, consequential, or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any of the Loan Documents, any transaction thereunder or the use of the proceeds of any Revolver Loans; and(vi) notice of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to Lender’s Agents’, Collateral Agents’ and Lenders’ entering into this Agreement and that Lender is Agents, Collateral Agents and Lenders are relying upon the foregoing waivers in its future dealings with Borrowers. Each Borrower warrants and represents that it has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the Court.

Appears in 1 contract

Samples: Credit Agreement (Ryerson Inc.)

Waivers by Borrowers. To the fullest extent permitted by Applicable Law, each Borrower waives (i) the right to trial by jury (which DIP Agent and each DIP Lender hereby also waives) in any action, suit, proceeding or counterclaim of any kind arising out of or related to any of the DIP Loan Documents, the Obligations or the Collateral; (ii) presentment, demand and protest and notice of presentment, notice of protest, defaultnotice of default (except as expressly required by the DIP Loan Documents), and notices of non payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender DIP Agent on which such Borrower may in any way be liable and hereby ratifies and confirms whatever Lender may do in this regardliable; (iii) notice prior to taking possession or control of the Collateral or any bond or security which might be required by any court prior to allowing Lender DIP Agent to exercise any 101 of LenderDIP Agent’s remedies; (iv) the benefit of all valuation, valuation and appraisement and exemption laws; (v) any claim against DIP Agent or any DIP Lender, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) arising out ofin any way relating to any Enforcement Action, in connection withObligations, DIP Loan Documents or as a result of, any of the Loan Documents, any transaction thereunder or the use of the proceeds of any Revolver Loanstransactions relating thereto; and(viand (vi) notice of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to DIP Agent’s and each DIP Lender’s entering into this Agreement and that Lender is DIP Agent and DIP Lenders are relying upon the foregoing waivers in its their future dealings with Borrowers. Each Borrower warrants and represents that it has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the Courtcourt.

Appears in 1 contract

Samples: Loan and Security Agreement (Standard Register Co)

Waivers by Borrowers. To the fullest extent permitted by Applicable Law, each Borrower waives (ia) the right to trial by jury (which Lender Agent hereby also waives) in any action, suit, proceeding or counterclaim dispute of any kind arising out of or related relating in any way to any of the Loan Documents, the Obligations or the Collateral; (iib) presentment, demand and protest and demand, protest, notice of presentment, protest, default, non non-payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender Agent on which such Borrower may in any way be liable liable, and hereby ratifies and confirms whatever Lender anything Agent may do in this regard; (iiic) notice prior to taking possession or control of the Collateral or any Collateral; (d) any bond or security which that might be required by any a court prior to allowing Lender Agent to exercise any of Lender’s rights or remedies; (ive) the benefit of all valuation, appraisement and exemption laws; (vf) any claim against Agent or any Lender, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) arising out ofin any way relating to any Enforcement Action, in connection withObligations, Loan Documents or as a result of, any of the Loan Documents, any transaction thereunder or the use of the proceeds of any Revolver Loanstransactions relating thereto; and(viand (g) notice of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to Lender’s Agent and Lenders entering into this Agreement and that Lender is they are relying upon the foregoing waivers in its future dealings with Borrowers. Each Borrower warrants and represents that it has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial and other rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the Court.court. 91

Appears in 1 contract

Samples: Financing Agreement (Select Interior Concepts, Inc.)

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Waivers by Borrowers. To the fullest extent permitted by Applicable Law, each Borrower waives (i1) the right to trial by jury (which each Agent and each Lender hereby also waives) in any action, suit, proceeding or counterclaim of any kind arising out of or related to any of the Loan Credit Documents, the Obligations or the Collateral; (ii) presentment, demand and protest and notice of presentment, protest, default, non payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender any Agent on which such Borrower may in any way be liable and hereby ratifies and confirms whatever Lender any Agent may do in this regard; (iii) notice prior to taking possession or control of the Collateral or any bond or security which might be required by any court prior to allowing Lender any Agent to exercise any of Lendersuch Agent’s remedies; (iv) the benefit of all valuation, appraisement and exemption laws; and (v) any claim against Lender, on any theory of liability, for special, indirect, consequential, or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any of the Loan Documents, any transaction thereunder or the use of the proceeds of any Revolver Loans; and(vi) notice of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to Lender’s Agents’ and Lenders’ entering into this Agreement and that Lender is Agents and Lenders are relying upon the foregoing waivers in its future dealings with Borrowers. Each Borrower warrants and represents that it has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the Court.

Appears in 1 contract

Samples: Credit Agreement (J.M. Tull Metals Company, Inc.)

Waivers by Borrowers. To the fullest extent permitted by Applicable Law, each Borrower waives (i1) the right to trial by jury (which each Agent, each Collateral Agent and each Lender hereby also waives) in any action, suit, proceeding or counterclaim of any kind arising out of or related to any of the Loan Credit Documents, the Obligations or the Collateral; (ii) presentment, demand and protest and notice of presentment, protest, default, non paymentnonpayment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender any Agent on which such Borrower may in any way be liable and hereby ratifies and confirms whatever Lender any Agent may do in this regard; (iii) notice prior to taking possession or control of the Collateral or any bond or security which might be required by any court prior to allowing Lender any Agent to exercise any of Lendersuch Agent’s remedies; (iv) the benefit of all valuation, appraisement and exemption laws; and (v) any claim against Lender, on any theory of liability, for special, indirect, consequential, or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any of the Loan Documents, any transaction thereunder or the use of the proceeds of any Revolver Loans; and(vi) notice of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to Lender’s Agents’, Collateral Agents’ and Lenders’ entering into this Agreement and that Lender is Agents, Collateral Agents and Lenders are relying upon the foregoing waivers in its future dealings with Borrowers. Each Borrower warrants and represents that it has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a written consent to a trial by the Court.

Appears in 1 contract

Samples: Credit Agreement (Ryerson Holding Corp)

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