Exercise Remedies definition

Exercise Remedies or "Exercise of Remedies" shall mean, with respect to each Lender, the taking of any action to enforce its rights or remedies against the Company Group following the occurrence of a Potential Default or Event of Default under its respective Financing Agreements, including, without limitation, the termination of a commitment to lend, the acceleration of all or a portion of the Obligations under such Financing Agreements, the filing or initiation of an Insolvency or Liquidation Proceeding against the Company or any other Person within the Company Group, the commencement of any foreclosure proceedings against any Collateral, the repossession of any Collateral, or the appointment or institution of a receiver, custodian or similar official to take custody of any assets of the Company or other members of the Company Group; provided, however, that the term "Exercise Remedies" shall specifically exclude (i) the issuance of any notice of default, (ii) any actions by a Credit Party to suspend (a) any disbursements from any accounts of the Company Group in which such Credit Party has a security interest or (b) Advances under the particular Facility and (iii) the recording of a Notice of Default in the County Recorder's Office of ▇▇▇▇▇ County, Nevada.

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Exercise Remedies means to take or institute the ----------------- taking of any exercise of remedies.

Exercise Remedies or the "Exercise of Remedies" means the recording of a Notice of Default under any of the Deeds of Trust, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any Obligations, realization on Collateral or the enforcement of other remedies under any Related Collateral Agreement or any Facility Agreement, or the exercise of set off, or any combination of the foregoing, by or for the benefit of any Secured Credit Party hereto; provided, however, that "Exercise Remedies" or the "Exercise of Remedies" shall exclude, without limitation, the following: (i) the giving of notices of default (as distinguished from recording a Notice of Default); (ii) any declaration of an Acceleration Event; and (iii) actions taken by any Secured Credit Party or the Intercreditor Agent to perfect, or to extend or confirm the perfection or effectiveness of, any Lien provided for herein or in the applicable Facility Agreements.

Examples of Exercise Remedies in a sentence

• The Intercreditor Agent shall be entitled to exercise, and it shall exercise, rights and remedies and take such action as permitted to be taken by the Intercreditor Agent under each Related Collateral Agreement as it may be directed from time to time by the applicable Controlling Party pursuant to the terms of this Agreement; provided that, such Controlling Party shall have the right to Exercise Remedies only in accordance with the applicable provisions of Section 4.6.1 or Section 4.6.2 above.

• Notwithstanding anything to the contrary set forth in this Agreement, prior to the indefeasible payment in full of the Senior Loan Obligations and the Senior Subordinated Loan Obligations, and except as set forth in Section 8.2 or otherwise with the prior written consent of each Senior Subordinated Lender, Lender may not demand for payment of or accelerate the Junior Subordinated Loan Obligations or take any action against Company pursuant to this Agreement (to take such actions is to "Exercise Remedies").

• Section 9.1. Events of Default 76 Section 9.2. Remedies 78 Section 9.3. Rights of Set-Off 80 Section 9.4. Remedies Cumulative, Concurrent and Non-Exclusive 80 Section 9.5. No Conditions Precedent to Exercise Remedies 80 Section 9.6. Release of and Resort to Collateral 81 Section 9.7. Waivers 81 Section 9.8. Discontinuance of Proceedings 81 Section 9.9. Power of Attorney 82 Section 9.10.

• The Tranche B Collateral is not "Collateral" for any purpose of this Agreement, no other Credit Party shall have any liens thereon or any security interest therein, and the Interim Mall Lender shall have the right to Exercise Remedies with respect to the Tranche B Collateral at any time, without reference to the Standstill Periods or other conditions provided for in this Agreement with respect to Collateral.

• If and when a Disbursement Agreement Default shall occur and be continuing and the Standstill Period with respect thereto shall have expired, the Credit Parties and the Intercreditor Agent may Exercise Remedies only in accordance with Section 4.6.1 or Section 4.7.1 below.

• Each Secured Credit Party may declare an Event of Default under its Facility Agreement and accelerate all Obligations due thereunder, to the extent and on the terms and conditions provided for in such Facility Agreement; provided, however, that no Secured Credit Party shall be entitled to Exercise Remedies against any of the Company Group or with respect to the Collateral except as set forth in Section 4.3.

• The Intercreditor Agent shall be entitled to exercise, and it shall exercise, rights and remedies and take such action as permitted to be taken by the Intercreditor Agent under each Related Collateral Agreement as it may be directed from time to time by the applicable Controlling Party pursuant to the terms of this Agreement; PROVIDED that, such Controlling Party shall have the right to Exercise Remedies only in accordance with the applicable provisions of SECTION 4.3 above.

• Events of Default 70 Section 9.2. Remedies 72 Section 9.3. Rights of Set-Off 74 Section 9.4. Remedies Cumulative, Concurrent and Non-Exclusive 75 Section 9.5. No Conditions Precedent to Exercise Remedies 75 Section 9.6. Release of and Resort to Collateral 76 Section 9.7. Waivers 76 Section 9.8. Discontinuance of Proceedings 76 Section 9.9. Power of Attorney 76 Section 9.10.

• The provisions of the preceding SECTION 4.4.1 and SECTION 4.4.2 shall not restrict the right of a Secured Credit Party to Exercise Remedies against, and to complete a foreclosure against or other realization upon any Collateral which constitutes an interest in real property encumbered by a Deed of Trust granted for the benefit of such Secured Credit Party, PROVIDED that such Exercise of Remedies, foreclosure or other realization is permitted in accordance with the applicable provisions of SECTION 4.3.

More Definitions of Exercise Remedies

Exercise Remedies or the "Exercise of Remedies" means the Recording of a Notice of Default under any deeds of trust or similar security agreement, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any ▇▇▇▇▇▇▇ Indebtedness, realization on any Collateral, the exercise of rights of setoff, or any combination of the foregoing, by ▇▇▇▇▇▇▇; provided, however that "Exercise Remedies" shall exclude, without limitation, the following: (i) the giving of notice of default (as distinguished from recording a notice of default under a deed of trust in the real property records of ▇▇▇▇▇ County, Nevada), (ii) any declaration of acceleration of the ▇▇▇▇▇▇▇ Indebtedness (but only if the obligations under the Subordinated Notes have been accelerated).

Exercise Remedies or the "Exercise of Remedies" means the Recording of a Notice of Default under any deeds of trust or similar security agreement, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any obligation of the Company, the realization on any Collateral, the exercise of rights of setoff, or any combination of the foregoing.

Exercise Remedies or "EXERCISE OF REMEDIES" shall mean, with respect to each Credit Party, the taking of any action to enforce its rights or remedies against the Company following the occurrence of a First Mortgage Notes Event of Default or a Subordinated Note Event of Default, including, without limitation, the acceleration of all or a portion of the obligations under such agreement, the filing or initiation of an Insolvency or Liquidation Proceeding against the Company or any other Person within the Company, the commencement of any foreclosure proceedings against any Collateral, the repossession of any Collateral, or the appointment or institution of a receiver, custodian or similar official to take custody of any assets of the Company or other members of the Company; PROVIDED, HOWEVER, that the term "Exercise Remedies" shall specifically exclude (a) the issuance of any notice of default, (b) any actions by a Credit Party to suspend (i) any disbursements from any accounts of the Company in which such Credit Party has a security interest or (ii) advances under the particular Note and (c) the recording of a Notice of Default in the County Recorder's Office of ▇▇▇▇▇▇▇▇ County, Mississippi.

Exercise Remedies means to take or institute the taking of any exercise of remedies. For purposes of clarification, the terms "exercise of remedies" and "exercise remedies" exclude any reduction in the advance rates under the Revolving Borrowing Base, and the Revolving Lenders may, upon the occurrence and during the continuation of a Designated Event of Default, reduce the advance rates under the Revolving Borrowing Base without the necessity or consent of the Term Agent or any Term Lender. All references herein to "property" or "assets" include, without limitation, the Collateral.

Exercise Remedies or the "EXERCISE OF REMEDIES" means the recording of a Notice of Default under any of the Deeds of Trust, the commencement of an action for judicial foreclosure, the appointment of a receiver, the enforcement of personal property foreclosure proceedings (whether judicial or non-judicial), the filing of a complaint or other action to enforce any Obligations, realization on Collateral or the enforcement of other remedies under any Related Collateral Agreement or any Facility Agreement, or the exercise of set off, or any combination of the foregoing, by or for the benefit of any Secured Credit Party hereto; PROVIDED, HOWEVER, that "Exercise Remedies" or the "Exercise of Remedies" shall EXCLUDE, without limitation, the following: (i) the giving of notices of default (as distinguished from RECORDING a Notice of Default); (ii) any declaration of an Acceleration Event; and (iii) actions taken by any Secured Credit Party or the Intercreditor Agent to perfect, or to extend or confirm the perfection or effectiveness of, any Lien provided for herein or in the applicable Facility Agreements.