Common use of Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights Clause in Contracts

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor and without notice to or further assent by any Pledgor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee or any other Secured Party, (c) the Credit Agreement, the other Credit Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Collateral Trustee or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor or any other person, and any failure by the Collateral Trustee or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor or any other person or any release of any Borrower or any Pledgor or any other person shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 3 contracts

Samples: Collateral Trust Agreement (MRC Global Inc.), Security Agreement (MRC Global Inc.), Term Loan Pledge Agreement (MRC Global Inc.)

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Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor and without notice to or further assent by any Pledgor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and therewith, the Designated Secured Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term applicable Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Secured Cash Management Agreement and Secured Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsAgreement, the Hedge Bank party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Pledge Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor or any other person, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor or any other person or any release of any the Borrower or any Pledgor or any other person shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 3 contracts

Samples: Collateral Agreement (Laureate Education, Inc.), Pledge Agreement (Laureate Education, Inc.), Collateral Agreement (Laureate Education, Inc.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor U.S. Institution Subsidiary shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor U.S. Institution Subsidiary and without notice to or further assent by any PledgorU.S. Institution Subsidiary, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and the Designated Secured Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Secured Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsAgreement, the Hedge Bank party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Collateral Agreement or any property subject thereto. When making any demand hereunder against any Pledgora U.S. Institution Subsidiary, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor such U.S. Institution Subsidiary or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor U.S. Institution Subsidiary or any other person Person or any release of any Borrower or any Pledgor U.S. Institution Subsidiary or any other person Person shall not relieve any Pledgor U.S. Institution Subsidiary in respect of which a demand or collection is not made or any Pledgor U.S. Institution Subsidiary not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.U.S.

Appears in 3 contracts

Samples: Collateral Agreement (Laureate Education, Inc.), Collateral Agreement (Laureate Education, Inc.), Collateral Agreement (Laureate Education, Inc.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee or any other Secured Party, (c) the Credit Agreement, the other Credit Term Priority Lien Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent Collateral Trustee (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower the Parent Grantor or any Pledgor other Grantor or any other person, and any failure by the Collateral Trustee or any other Secured Party to make any such demand or to collect any payments from any Borrower the Parent Grantor or any Pledgor other Grantor or any other person or any release of any Borrower the Parent Grantor or any Pledgor other Grantor or any other person shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 3 contracts

Samples: Collateral Trust Agreement (MRC Global Inc.), Security Agreement (MRC Global Inc.), Security Agreement (MRC Global Inc.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Guarantor and without notice to or further assent by any PledgorGuarantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee or any other Secured Party Purchasers may be rescinded by such party and any of the Secured Obligations continued, (b) and the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee or any other Secured PartyPurchasers, (c) and the Credit Purchase Agreement, the Note and the other Credit Transaction Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) Purchasers may deem advisable from time to time, and (d) any collateral security, guarantee guaranty or right of offset at any time held by the Collateral Trustee or any other Secured Party Purchasers for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee nor any other Secured Party The Purchasers shall not have any obligation to protect, secure, perfect or insure any Lien lien at any time held by it as security for the Secured Obligations or for this Agreement Guaranty or any property subject thereto. When making any demand hereunder against any Pledgorof the Guarantors, the Collateral Trustee or any other Secured Party Purchasers may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor or any other personGuarantor, and any failure by the Collateral Trustee or any other Secured Party Purchasers to make any such demand or to collect any payments from any the Borrower or any Pledgor or any such other person Guarantor or any release of any the Borrower or any Pledgor or any such other person Guarantor shall not relieve any Pledgor of the Guarantors in respect of which a demand or collection is not made or any Pledgor of the Guarantors not so released of its their several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party Purchasers against any Pledgorof the Guarantors. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Internet Commerce Corp), Subsidiary Guaranty (Irvine Sensors Corp/De/)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor European Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor European Guarantor and without notice to or further assent by any PledgorEuropean Guarantor, (a) any demand for payment of any of the Secured Obligations of any Foreign Subsidiary that is a CFC made by the Collateral Trustee or any other Secured Party may be rescinded by such party Secured Party and any of the Secured Obligations of any Foreign Subsidiary that is a CFC continued, (b) and the Secured ObligationsObligations of each Foreign Subsidiary that is a CFC, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, amended and restated, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee or any other Secured Party, (c) and the Credit Agreement, the any other Credit Documents Loan Document, any agreement in respect of Secured Cash Management Obligations, any Swap Agreement and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Collateral Agent (or the Required Lenders, as the case may be, or, ) or the relevant Secured Party (in the case of any Designated Hedge Agreement or documents entered into with such agreement in respect of the Term Agent or the Collateral Trustee, as applicable, Secured Cash Management Obligations or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party theretoSecured Swap Agreement) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee or any other Secured Party for the payment of the Secured Obligations of any Foreign Subsidiary that is a CFC may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee nor any other No Secured Party shall have any obligation to protect, secure, perfect or insure ensure any Lien at any time held by it as security for the Secured Obligations of any Foreign Subsidiary that is a CFC or for this Agreement European Guarantee or any property subject thereto. When making any demand hereunder against any Pledgorof the European Guarantors, the Collateral Trustee or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor Loan Party or any other personEuropean Guarantor or guarantor, and any failure by the Collateral Trustee or any other Secured Party to make any such demand or to collect any payments from any Borrower Loan Party or any Pledgor such other European Guarantor or any other person guarantor or any release of any Borrower Loan Party or any Pledgor such other European Guarantor or any other person guarantor shall not relieve any Pledgor of the European Guarantors in respect of which a demand or collection is not made or any Pledgor of the European Guarantors not so released of its their several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party against any Pledgor. For of the purposes hereof “demand” shall include the commencement and continuance of any legal proceedingsEuropean Guarantors.

Appears in 2 contracts

Samples: European Guarantee and Luxembourg Security Agreement (Graftech International LTD), European Guarantee and Luxembourg Security Agreement (Graftech International LTD)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Guarantor and without notice to or further assent by any PledgorGuarantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee or any other Secured Party may be rescinded by such party Secured Party and any of the Secured Obligations continued, (b) and the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee or any other Secured Party, (c) and the Credit Agreement, the other Credit Documents and any other documents executed and delivered Loan Document, any agreements in connection therewith and respect of the Designated Hedge Secured Cash Management Obligations, Secured Swap Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, amended and restated, modified, supplemented or terminated, in whole or in part, as the Term Collateral Agent (or the Required Lenders, as the case may be, or, ) or the relevant Secured Party (in the case of any Designated Hedge Agreement such agreements in respect of the Secured Cash Management Obligations or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party theretoSecured Swap Agreements) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee nor any other No Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any Pledgorof the Guarantors, the Collateral Trustee or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor Loan Party or any other personGuarantor or guarantor, and any failure by the Collateral Trustee or any other Secured Party to make any such demand or to collect any payments from any Borrower Loan Party or any Pledgor such other Guarantor or any other person guarantor or any release of any Borrower Loan Party or any Pledgor such other Guarantor or any other person guarantor shall not relieve any Pledgor of the Guarantors in respect of which a demand or collection is not made or any Pledgor of the Guarantors not so released of its their several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party against any Pledgor. For of the purposes hereof “demand” shall include the commencement and continuance of any legal proceedingsGuarantors.

Appears in 2 contracts

Samples: Guarantee Agreement (Graftech International LTD), Guarantee Agreement (Graftech International LTD)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and the Designated Secured Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Secured Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsAgreement, the Hedge Bank party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor Grantor or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor Grantor or any other person Person or any release of any Borrower or any Pledgor Grantor or any other person Person shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 2 contracts

Samples: Security Agreement (Laureate Education, Inc.), Collateral Agreement (Laureate Education, Inc.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Except for the termination of a Pledgor’s Secured Obligations hereunder as expressly provided in Section 13, each Pledgor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor and without notice to or further assent by any Pledgor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents Bank Products and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, restated, amended and restated, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into accordance with the Term Agent or terms of the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to timeapplicable Bank Product, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on the Borrowers (to the extent such demand is in respect of any Borrower or any Pledgor Secured Obligations owing by the Borrowers) or any other personPledgor, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor the Borrowers or any other person Pledgor or any release of any Borrower or any Pledgor the Borrowers or any other person Pledgor shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance continuation of any legal proceedings.

Appears in 1 contract

Samples: Canadian Security Agreement (Milacron Holdings Corp.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Subject in any event to the terms and conditions of the Orders, each Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the DIP Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith (including any Secured Cash Management Agreements, Secured Hedging Agreements, and the Designated Hedge Agreements Secured Commodity Hedging Agreements) and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Secured Cash Management Agreement, Secured Hedging Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsSecured Commodity Hedging Agreement, the party theretoapplicable Cash Management Bank or Hedge Bank) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor Grantor or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor Grantor or any other person Person or any release of any the Borrower or any Pledgor Grantor or any other person Person shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Energy Future Competitive Holdings Co LLC)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Subject in any event to the terms and conditions of the Final Order, each Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the DIP Credit Agreement, the other Credit Documents Documents, any Additional First Lien Agreement and any other documents executed and delivered in connection therewith (including any Secured Cash Management Agreements and the Designated Hedge Agreements Secured Hedging Agreements) and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Secured Cash Management Agreement or documents entered into with Secured Hedging Agreement the Term Agent applicable Cash Management Bank or Hedge Bank, or, in the case of any Additional First Lien Agreement, the trustee, agent or representative thereunder or the Collateral Trusteerequired lenders, as applicable, holders or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party theretocounterparties thereunder) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor Grantor or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor Grantor or any other person Person or any release of any the Borrower or any Pledgor Grantor or any other person Person shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Energy Future Holdings Corp /TX/)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Notes Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Notes Collateral Trustee Agent or any other Secured Party, (c) the Credit AgreementIndenture, Notes, the other Credit Note Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Notes Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Notes Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Notes Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower the Company or any Pledgor Grantor or any other persongrantor, and any failure by the Notes Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower the Company or any Pledgor Grantor or any other person grantor or any release of any Borrower the Company or any Pledgor Grantor or any other person grantor shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Notes Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Accellent Inc)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Notes Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Notes Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Notes Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into accordance with the Term Agent terms of the applicable Notes Document or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to timeOther Pari Passu Lien Obligations Agreement, and (d) any collateral security, guarantee or right of offset at any time held by the Notes Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Notes Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Notes Collateral Trustee Agent or any other Secured Party Party, may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor of the Issuers or any other personGrantor, and any failure by the Notes Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor of the Issuers or any other person Grantor or any release of any Borrower or any Pledgor of the Issuers or any other person Grantor shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Notes Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes purpose hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Notes Security Agreement (Associated Materials, LLC)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Secured Debt Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into accordance with the Term Agent or terms of the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to timeapplicable Secured Debt Document, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party Party, may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor the Borrowers or any other personGrantor, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor the Borrowers or any other person Grantor or any release of any Borrower or any Pledgor the Borrowers or any other person Grantor shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes purpose hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Canadian Security Agreement (Milacron Holdings Corp.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and the Designated Secured Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Secured Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsAgreement, the Hedge Bank party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When EAST\142256231.3 making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor Grantor or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor Grantor or any other person Person or any release of any Borrower or any Pledgor Grantor or any other person Person shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Collateral Agreement (Laureate Education, Inc.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Subject in any event to the terms and conditions of the Final Order, each Pledgor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor and without notice to or further assent by any Pledgor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the DIP Credit Agreement, the other Credit Documents Documents, any Additional First Lien Agreement and any other documents executed and delivered in connection therewith (including any Secured Cash Management Agreements and the Designated Hedge Agreements Secured Hedging Agreements) and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Secured Cash Management Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsand Secured Hedging Agreement, the Cash Management Bank or Hedge Bank party thereto) may deem advisable from time to time, time and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Pledge Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor or any other person Person or any release of any the Borrower or any Pledgor or any other person Person shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Pledge Agreement (Energy Future Holdings Corp /TX/)

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Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, Notes, the other Credit Loan Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor other Grantor or any other persongrantor, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor other Grantor or any other person grantor or any release of any the Borrower or any Pledgor Grantor or any other person grantor shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Clean Harbors Inc)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and the Designated Bank Product Agreements (including the Hedge Agreements Agreements) and any other documents executed and delivered in connection therewith and any documents entered into with the Term Collateral Agent or the Collateral Trustee, as applicable, or any of their respective its affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Collateral Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Bank Product Agreement or documents entered into with the Term Collateral Agent or the Collateral Trustee, as applicable, or any of their respective its affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor Grantor or any other persongrantor, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor Grantor or any other person grantor or any release of any the Borrower or any Pledgor Grantor or any other person grantor shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Accellent Inc)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Title IV Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor each Title IV Grantor and without notice to or further assent by any Pledgoreach Title IV Grantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Amended and Restated Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and the Designated Secured Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Secured Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsAgreement, the Hedge Bank party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Amended and Restated Collateral Agreement or any property subject thereto. When making any demand hereunder against any Pledgoreach Title IV Grantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor each Title IV Grantor or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Parent Borrower or any Pledgor each Title IV Grantor or any other person Person or any release of any Parent Borrower or any Pledgor each Title IV Grantor or any other person Person shall not relieve any Pledgor each Title IV Grantor in respect of which a demand or collection is not made or any Pledgor each Title IV Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any Pledgoreach Title IV Grantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Collateral Agreement (Laureate Education, Inc.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Except for the termination of a Pledgor’s Secured Obligations hereunder as expressly provided in Section 14, each Pledgor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor and without notice to or further assent by any Pledgor, (a) any demand for payment of any of the Secured Obligations made by the Notes Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Notes Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Notes Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into accordance with the Term Agent terms of the applicable Notes Document or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to timeOther Pari Passu Lien Obligations Agreement, and (d) any collateral security, guarantee or right of offset at any time held by the Notes Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Notes Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Notes Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on the Pledgors (to the extent such demand is in respect of any Borrower or any Pledgor or any other person, Secured Obligations owing by the Pledgors) and any failure by the Notes Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor or any other person or the Pledgors any release of any Borrower or any Pledgor or any other person the Pledgors shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Notes Collateral Trustee Agent or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance continuation of any legal proceedings.

Appears in 1 contract

Samples: Notes Pledge Agreement (Associated Materials, LLC)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Subject in any event to the terms and conditions of the DIP Order (with respect to the applicable Grantors), each Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the DIP Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith (including any Secured Cash Management Agreements, Secured Hedging Agreements, and the Designated Hedge Agreements Secured Commodity Hedging Agreements) and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Secured Cash Management Agreement, Secured Hedging Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsSecured Commodity Hedging Agreement, the party theretoapplicable Cash Management Bank or Hedge Bank) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor Grantor or any other personPerson, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor Grantor or any other person Person or any release of any the Borrower or any Pledgor Grantor or any other person Person shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Energy Future Competitive Holdings Co LLC)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Guarantor and without notice to or further assent by any PledgorGuarantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee or any other Secured Party Purchasers may be rescinded by such party and any of the Secured Obligations continued, (b) and the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee or any other Secured PartyPurchasers, (c) and the Credit Purchase Agreement, the Notes and the other Credit Transaction Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) Purchasers may deem advisable from time to time, and (d) any collateral security, guarantee guaranty or right of offset at any time held by the Collateral Trustee or any other Secured Party Purchasers for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee nor any other Secured Party The Purchasers shall not have any obligation to protect, secure, perfect or insure any Lien lien at any time held by it as security for the Secured Obligations or for this Agreement Guaranty or any property subject thereto. When making any demand hereunder against any Pledgorof the Guarantors, the Collateral Trustee or any other Secured Party Purchasers may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor or any other personGuarantor, and any failure by the Collateral Trustee or any other Secured Party Purchasers to make any such demand or to collect any payments from any the Borrower or any Pledgor or any such other person Guarantor or any release of any the Borrower or any Pledgor or any such other person Guarantor shall not relieve any Pledgor of the Guarantors in respect of which a demand or collection is not made or any Pledgor of the Guarantors not so released of its their several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party Purchasers against any Pledgorof the Guarantors. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Subsidiary Guaranty (Internet Commerce Corp)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Except for the termination of the Pledgor's Secured Obligations hereunder as provided in Section 14, the Pledgor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any the Pledgor and without notice to or further assent by any the Pledgor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Loan Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into accordance with the Term Agent or terms of the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to timeapplicable Loan Document, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Collateral Trustee or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor or any other person, and any failure by the Collateral Trustee or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor or any other person or any release of any Borrower or any Pledgor or any other person shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Tesoro Corp /New/)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor and without notice to or further assent by any Pledgor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromisedcom­ promised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and therewith, the Designated Secured Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term applicable Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Secured Cash Management Agreement and Secured Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of fundsAgreement, the Hedge Bank party thereto) may deem advisable from time to time, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Pledge Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Collateral Trustee Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on any the Parent Borrower or any Pledgor or any other person, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Parent Borrower or any Pledgor or any other person or any release of any the Parent Borrower or any Pledgor or any other person shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Pledge Agreement (Laureate Education, Inc.)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor The Company shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor the Company and without notice to or further assent by any Pledgorthe Company, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party Lender may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured PartyLender, (c) the Credit Agreement, the other Credit Loan Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Administrative Agent (or the Required Lendersrequisite Lenders pursuant to the terms of the Credit Agreement, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, (d) any Cash Management Agreement, any Swap Contract and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Company and such applicable Cash Management Bank or Swap Contract Bank, as applicable, may deem advisable from time to time and (de) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party Lender shall have any obligation to protect, secure, perfect or insure any Lien Security at any time held by it as security for the Secured Obligations or for this Pledge Agreement or any property subject thereto. When making any demand hereunder against any Pledgor, the Collateral Trustee or any other Secured Party may, but shall be under no obligation to, make a similar demand on any Borrower or any Pledgor or any other person, and any failure by the Collateral Trustee or any other Secured Party to make any such demand or to collect any payments from any Borrower or any Pledgor or any other person or any release of any Borrower or any Pledgor or any other person shall not relieve any Pledgor in respect of which a demand or collection is not made or any Pledgor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee or any other Secured Party against any Pledgor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Credit Agreement (KKR Financial Holdings LLC)

Amendments, etc. with Respect to the Secured Obligations; Waiver of Rights. Each Pledgor Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Pledgor Grantor and without notice to or further assent by any PledgorGrantor, (a) any demand for payment of any of the Secured Obligations made by the Collateral Trustee Agent or any other Secured Party may be rescinded by such party and any of the Secured Obligations continued, (b) the Secured Obligations, or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral Trustee Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Loan Documents and any other documents executed and delivered in connection therewith and the Designated Hedge Agreements and any other documents executed and delivered in connection therewith and any documents entered into with the Term Agent or the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds may be amended, modified, supplemented or terminated, in whole or in part, as the Term Agent (or the Required Lenders, as the case may be, or, in the case of any Designated Hedge Agreement or documents entered into accordance with the Term Agent or terms of the Collateral Trustee, as applicable, or any of their respective affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to timeapplicable Loan Document, and (d) any collateral security, guarantee or right of offset at any time held by the Collateral Trustee Agent or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Trustee Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Secured Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against any PledgorGrantor, the Collateral Trustee Agent or any other Secured Party Party, may, but shall be under no obligation to, make a similar demand on any the Borrower or any Pledgor or any other personGrantor, and any failure by the Collateral Trustee Agent or any other Secured Party to make any such demand or to collect any payments from any the Borrower or any Pledgor or any other person Grantor or any release of any the Borrower or any Pledgor or any other person Grantor shall not relieve any Pledgor Grantor in respect of which a demand or collection is not made or any Pledgor Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Trustee Agent or any other Secured Party against any PledgorGrantor. For the purposes purpose hereof “demand” shall include the commencement and continuance of any legal proceedings.

Appears in 1 contract

Samples: Security Agreement (Milacron Holdings Corp.)

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