Common use of Actions with Respect to Defaults Clause in Contracts

Actions with Respect to Defaults. In addition to Agent’s right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent shall have received such directions, Agent may act or not act as it deems advisable and in the best interests of the Lenders.

Appears in 17 contracts

Samples: Credit Agreement (GAN LTD), Term Loan Credit Agreement (Team Inc), Term Loan Credit Agreement (Team Inc)

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Actions with Respect to Defaults. In addition to the Agent’s right to take actions on its own accord as permitted under this Agreement, the Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until the Agent shall have received such directions, the Agent may act or not act as it deems advisable and in the best interests of the Lenders.

Appears in 6 contracts

Samples: Loan and Security Agreement (Trade Desk, Inc.), Loan and Security Agreement (American Railcar Industries, Inc.), Loan and Security Agreement (Trade Desk, Inc.)

Actions with Respect to Defaults. In addition to the Agent’s 's right to take actions on its own accord as permitted under this Credit Agreement, the Agent shall take such action with respect to an a Default or Event of Default as shall be directed by the Required Majority Lenders. Until the Agent shall have received such directions, the Agent may act or not act as it deems advisable and in the best interests of the Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Safety 1st Inc), Credit Agreement (Spinnaker Industries Inc), Credit Agreement (Lynch Corp)

Actions with Respect to Defaults. In addition to Agent’s 's right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an a Default or Event of Default as shall be directed by the Required Lenders. Until ; provided that until Agent shall have received such directions, Agent may act (but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such Default or Event of Default as it deems advisable and in the best interests of the Lendersshall deem advisable.

Appears in 4 contracts

Samples: Loan and Security Agreement (Webco Industries Inc), Loan and Security Agreement (Abc Rail Products Corp), Loan and Security Agreement (Abc Rail Products Corp)

Actions with Respect to Defaults. In addition to the Agent’s 's right to take actions on its own accord as permitted under this Agreement, the Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until the Agent shall have received such directions, the Agent may act or not act as it deems advisable and in the best interests of the Lenders.

Appears in 3 contracts

Samples: Loan and Security Agreement (Chi Energy Inc), Loan and Security Agreement (American Railcar Industries, Inc./De), Loan and Security Agreement (American Railcar Industries, Inc./De)

Actions with Respect to Defaults. In addition to the Agent’s right to take actions on its own accord as permitted under this Agreement, the Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent shall have received such directions, the Agent may act or not act as it deems advisable and in the best interests of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Team Inc), Credit Agreement (Team Inc)

Actions with Respect to Defaults. In addition to Agent’s each of the Agents' right to take actions on its own accord as permitted under this Agreement, such Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent either of the Agents shall have received such directions, such Agent may act or not act as it deems advisable and in the best interests of the Lenders.. -108- 109

Appears in 1 contract

Samples: Loan and Security Agreement (Grant Prideco Inc)

Actions with Respect to Defaults. In addition to Agent’s 's right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Unmatured Event of Default or Event of Default as shall be directed by the Required Lenders. Until ; PROVIDED that until Agent shall have received such directions, Agent may act (but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such Unmatured Event of Default or Event of Default as it deems advisable and in the best interests of the Lendersshall deem advisable.

Appears in 1 contract

Samples: Secured Credit Agreement (Irwin Naturals 4 Health)

Actions with Respect to Defaults. In addition to Agent’s right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent shall have received such directions, Agent may act or not act as it deems advisable and in the best interests of the Lenders.have

Appears in 1 contract

Samples: Term Loan Credit Agreement (Team Inc)

Actions with Respect to Defaults. In addition to Agent’s 's right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent shall have received such directions, Agent may act or not act as it deems advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Team Inc)

Actions with Respect to Defaults. In addition to Agent’s 's right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Unmatured Event of Default or Event of Default as shall be directed by the Required Majority Lenders. Until ; provided that until Agent shall have received such directions, Agent may act (but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such Unmatured Event of Default or Event of Default as it deems shall deem advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (National Technical Systems Inc /Ca/)

Actions with Respect to Defaults. In addition to each Agent’s 's right to take actions on its own accord as permitted under this Agreement, each Agent shall take such action with respect to an a Default or Event of Default as shall be directed by the Required Lenders. Until an Agent shall have received such directions, Agent may act (or not act act) as it deems advisable and in the best interests of the Lendersadvisable.

Appears in 1 contract

Samples: Credit Agreement (Prime Foods Development Corp)

Actions with Respect to Defaults. In addition to the Agent’s right to take actions on its his own accord as permitted under this Agreement, the Agent shall take such action with respect to an a default or Event of Default as shall be directed by Secured Parties; provided that, until the Required Lenders. Until Agent shall have received such directions, the Agent may act (but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such default or Event of Default as it deems he shall deem advisable and in the best interests of the LendersSecured Parties.

Appears in 1 contract

Samples: Security Agreement (Resolve Staffing Inc)

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Actions with Respect to Defaults. In addition to Agent’s right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Unmatured Event of Default or Event of Default as shall be directed by the Required Majority Lenders. Until ; provided that until Agent shall have received such directions, Agent may act (but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such Unmatured Event of Default or Event of Default as it deems shall deem advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (National Technical Systems Inc /Ca/)

Actions with Respect to Defaults. In addition to Agent’s each of the Agents' right to take actions on its own accord as permitted under this Agreement, such Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent either of the Agents shall have received such directions, such Agent may act or not act as it deems advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Grant Prideco Inc)

Actions with Respect to Defaults. In addition to the Agent’s 's right to take actions on its own accord as permitted under this Agreement, the Agent shall take such action with respect to an a Default or Event of Default as shall be directed by the Required LendersMajority Holders. Until the Agent shall have received such directions, the Agent may act (or not act act) as it deems advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Agency Letter Agreement (Halsey Drug Co Inc/New)

Actions with Respect to Defaults. In addition to Agent’s 's right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Unmatured Event of Default or Event of Default as shall be directed by the Required Lenders. Until ; provided, that until Agent shall have received such directions, Agent may act (but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such Unmatured Event of Default or Event of Default as it deems advisable and in the best interests of the Lendersshall deem advisable.

Appears in 1 contract

Samples: Secured Credit Agreement (Gibraltar Packaging Group Inc)

Actions with Respect to Defaults. In addition to Agent’s right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Unmatured Event of Default or Event of Default as shall be directed by the Required all Lenders. Until ; provided that until Agent shall have received such directions, . Agent may act {but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such Unmatured Event of Default or Event of Default as it deems shall deem advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Roxio Inc)

Actions with Respect to Defaults. In addition to the Agent’s 's right to take actions on its own accord as permitted under this Agreement, the Agent shall take such action with respect to an a Default or Event of Default as shall be directed by the Required Majority Lenders. Until the Agent shall have received such directions, the Agent may act (or not act act) as it deems advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Smith Environmental Technologies Corp /De/)

Actions with Respect to Defaults. In addition to Agent’s 's right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Event of Default as shall be directed by the Required Requisite Lenders or all Lenders. Until , as applicable pursuant to SECTION 30 hereof; provided, that until Agent shall have received such directions, Agent may act (but shall not be obligated to) take such action, or not act refrain from taking such action, with respect to such Event of Default as it deems shall deem advisable and in the best interests interest of the Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Aavid Thermal Technologies Inc)

Actions with Respect to Defaults. In addition to the Agent’s 's right to take actions on its own accord as permitted under this Agreement, the Agent shall take such action with respect to an a Default or Event of Default as shall be directed by the Required Lenders. Until the Agent shall have received such directions, the Agent may act (or not act act) as it deems advisable and in the best interests of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Alterra Healthcare Corp)

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