Action Against Clause Samples
The 'Action Against' clause defines the rights and procedures for one party to initiate legal or other formal actions against another party in the event of a dispute or breach. Typically, this clause outlines the circumstances under which such actions can be taken, the required notice periods, and any limitations or prerequisites, such as attempts at negotiation or mediation before proceeding. Its core function is to provide a clear framework for resolving conflicts, ensuring that both parties understand the steps and conditions involved in pursuing claims or remedies.
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Action Against. If the Subordinating Creditors, in violation of this Subordination Agreement, shall Commence Legal Action against an Applicable Debtor, such Applicable Debtor may interpose as a defense or dilatory plea the making of this Subordination Agreement, and the Secured Parties are hereby irrevocably authorized to intervene and to interpose such defense or plea in their names or in the name of the related Applicable Debtor. If the Subordinating Creditors shall attempt to enforce, collect or realize upon any Subordinated Debt or any collateral, security or guarantees (if any) securing the Subordinated Debt in violation of this Subordination Agreement, the Applicable Debtors may, by virtue of this Subordination Agreement, restrain any such enforcement, collection or realization, or upon failure to do so, the Secured Parties may restrain such enforcement, collection or realization, either in their own names or in the name of the Applicable Debtors.
Action Against. If the Collateral Agent or the Investors, in violation of this Agreement, shall Commence Legal Action against Kroll or any other Borrower, Kroll or any Borrower (as applicable) may interpose as a defense or dilatory plea the making of this Agreement, and Foothill is hereby irrevocably authorized to intervene and to interpose such defense or plea in its name or in the name of Kroll or any other Borrower. If either the Collateral Agent or the Investors shall attempt to enforce, collect or realize upon any Palisade Debt or, any collateral, security or guarantees securing the Palisade Debt in violation of this Agreement, Kroll or any Borrower (as applicable) may, by virtue of this Agreement, restrain any such enforcement, collection or realization, or upon failure to do so, Foothill may restrain such enforcement, collection or realization, either in its own name or in the name of Kroll or any other Borrower, as the case may be.
Action Against. If the Subordinating Creditor in violation of this Subordination Agreement shall assert or bring any action, suit or proceeding against the Company (and/or any Guarantor), the Company may interpose as a defense or dilatory plea the making of this Subordination Agreement, and the Agent is hereby irrevocably authorized to intervene and to interpose such defense or plea in its name or in Company's name. If the Subordinating Creditor shall attempt to enforce, collect or realize upon any Subordinated Debt or, any collateral, security or guarantees (if any), securing the Subordinated Debt in violation of this Subordination Agreement, the Company may, by virtue of this Subordination Agreement, restrain any such enforcement, collection or realization, or upon failure to do so, the Agent may restrain any such enforcement, collection or realization, either in their own name or in the name of any of the Company (and/or any Guarantor).
Action Against. If the Subordinating Creditor in violation of this Subordination Agreement shall assert or bring any action, suit or proceeding against the Company or the Guarantor, the Company and/or the Guarantor may interpose as a defense or dilatory plea the making of this Subordination Agreement, and CIT is hereby irrevocably authorized to intervene and to interpose such defense or plea in its name or in Company's or the Guarantor's name. If the Subordinating Creditor shall attempt to enforce, collect or realize upon any Subordinated Debt or, any collateral, security or guarantees (if any), securing the Subordinated Debt in violation of this Subordination Agreement, the Company and/or the Guarantor may, by virtue of this Subordination Agreement, restrain any such enforcement, collection or realization, or upon failure to do so, CIT may restrain any such enforcement, collection or realization, either in its own name or in the name of the Company and/or the Guarantor.
Action Against. If the Subordinating Creditor in violation of -------------- this Subordination Agreement shall assert or bring any action, suit or proceeding against the Company or any guarantor of the Company, the Company or any guarantor of the Company may interpose as a defense or dilatory plea the making of this Subordination Agreement, and the Senior Lenders, acting through the Agent (or, if all obligations under and in the Financing Agreement (including all Obligations as defined in the Original Financing Agreement) have been finally and indefeasibly paid in full, in cash, World Debt), are hereby irrevocably authorized to intervene and to interpose such defense or plea in its name or in the name of the Company or such guarantor. If the Subordinating Creditor shall attempt to enforce, collect or realize upon any Subordinated Debt or, any collateral, security or guarantees (if any) securing the Subordinated Debt in violation of this Subordination Agreement, the Company or any guarantor of the Company may, by virtue of this Subordination Agreement, restrain any such enforcement, collection or realization, or upon failure to do so, any of the Senior Lenders, acting through the Agent may restrain such enforcement, collection or realization, either in its own name or in the name of the Company or any guarantor of the Company, as the case may be.
Action Against. If FCB, in violation of this Agreement, shall commence an Enforcement Action against Company, Company may interpose as a defense or dilatory plea the making of this Agreement, or upon failure to do so, Gemino is hereby irrevocably authorized to intervene and to interpose such defense or plea in its name or in the name of Company. If FCB shall attempt to enforce, collect or realize upon any FCB Debt or any collateral, security or guarantees (if any) securing the FCB Debt in violation of this Agreement, Company may, by virtue of this Agreement, restrain any such enforcement, collection or realization, or upon failure to do so Gemino may restrain such enforcement, collection or realization, either in its own name or in the name of Company.
Action Against. If the Holdings Agent or any Holdings Lender shall take any action against any Obligor in violation of this Agreement, then such Obligor may interpose as a defense or dilatory plea the making of this Agreement, and the Aimco Agent is hereby irrevocably authorized to intervene and to interpose such defense or plea in its name or in the name of such Obligor. If Holdings Agent or any Holdings Lender shall attempt to enforce, collect or realize upon any Collateral in violation of this Agreement, then any Obligor may, by virtue of this Agreement, restrain any such enforcement, collection, realization, or upon failure to do so, the Aimco Agent may restrain such enforcement, collection, realization either in its own name or in the name of such Obligor. If Holdings Agent or any Holdings Lender otherwise violates any of the terms of this Agreement, in addition to any remedies in law, equity, or otherwise, Aimco Agent may restrain such violation in any court of law and may, in its own or either Obligor’s name, interpose this Agreement as a defense in any action by Holdings Agent or any Holdings Lender.