Applicability of Priorities Sample Clauses

Applicability of Priorities. The priority of the holder of the Senior Indebtedness provided for herein with respect to security interests and liens are applicable only to the extent that such security interests and liens are enforceable and perfected and have not been avoided; if a security interest or lien is judicially determined to be unenforceable or unperfected or is judicially avoided with respect to any claim of the holder of the Senior Indebtedness or any part thereof, the priority provided for herein shall not be available to such security interest or lien to the extent that it is avoided or determined to be unenforceable or unperfected. The foregoing notwithstanding, Lender covenants and agrees that it shall not challenge, attack or seek to avoid any security interest or lien to the extent that it secures any holder of the Senior Indebtedness. Nothing in this Section affects the operation of any subordination of indebtedness or turnover of payment provisions hereof, or of any other agreements among any of the parties hereto.
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs
Applicability of Priorities. The priorities provided for in Section 1 of this Agreement shall apply:
Sample 1Sample 2
Applicability of Priorities. The priority of the Senior Creditors provided for herein with respect to security interests and liens are applicable only to the extent that such security interests and liens are enforceable and perfected and have not been avoided; if a security interest or lien is judicially determined to be unenforceable or unperfected or is judicially avoided with respect to any claim of the Senior Creditors or any part thereof, the priority provided for herein shall not be available to such security interest or lien to the extent that is avoided or determined to be unenforceable or unperfected. The foregoing notwithstanding, Lender covenants and agrees that it shall not challenge, attack or seek to avoid any security interest or lien to the extent it secures any of the Senior Indebtedness.
Sample 1
Applicability of Priorities. The priorities provided for herein with respect to security interests and liens are applicable only to the extent that such security interests and liens are enforceable and have not been avoided; if a security interest or lien is judicially determined to be unenforceable or is judicially avoided with respect to one or more Claims or any part thereof, the priorities provided for herein shall not be available to such security interest or lien to the extent that it is avoided or determined to be unenforceable. The foregoing notwithstanding, each party covenants and agrees for the benefit of each other party that it shall not challenge, attack, or seek to avoid any security interest or lien to the extent that it secures any Claim.
Sample 1
Applicability of Priorities. The priorities provided for herein with respect to security interests and liens are applicable only to the extent that such security interests and liens are enforceable and have not been avoided; if a security interest or lien is judicially determined to be unenforceable or is judicially avoided with respect to one or more Claims or any part thereof, the priorities provided for herein shall not be available to such security interest or lien to the extent that it is avoided or determined to be unenforceable. The foregoing notwithstanding, each Representative and Claimant covenants and agrees for the benefit of each other Representative and Claimant that it shall not directly or indirectly challenge, object to, or attack, or directly or indirectly seek to minimize, impair, prime (including attempting to obtain a lien senior in priority to the lien of any Collateral Agent in any Insolvency Proceeding), disallow or avoid (including as to all of the foregoing without limitation, by proposing a plan of reorganization or other formal or informal restructuring of the financial affairs of any Debtor that provides for any such impairment, priming, disallowance, etc.) either: (i) any security interest or lien to the extent that it secures any Claim or (ii) the entitlement of any Claimant to recover the full amount of its Claim according to the terms stated in the Underlying Transactional Documents relating to such Claim.
Sample 1
Applicability of Priorities. (a) The relative priorities of the Lienholders' Liens which are set forth in Section 3 below shall apply: (i) without regard to the time or order of creation, attachment or perfection of such Liens (including, without limitation, the order of filing of the Lienholders' respective UCC financing statements or other documents) or the time or order of the execution and delivery of the Credit Documents; and (ii) with respect to the relative priorities and the creation or attachment of the Liens perfected by any party hereto on any of the Collateral or with respect to the creation or attachment of such Liens to the proceeds of any of the Collateral or to the proceeds of the proceeds of any of the Collateral, notwithstanding anything to the contrary in the provisions of the UCC, the Federal Bankruptcy Code, any other bankruptcy, insolvency, or creditors' right law, or any other applicable law.
Sample 1
Applicability of Priorities. The priority of the holder of the Senior Indebtedness provided for herein with respect to security interests and Liens are applicable only to the extent that such security interests and Liens are enforceable and perfected and have not been avoided; if a security interest or Lien is judicially determined to be unenforceable or unperfected or is judicially avoided with respect to any claim of the holder of the Senior Indebtedness or any part thereof, the priority provided for herein shall not be available to such security interest or Lien to the extent that it is avoided or determined to be unenforceable or unperfected. The foregoing notwithstanding, Secured Party covenants and agrees that it shall not challenge, attack or seek to avoid any security interest or Lien to the extent that it secures the holder of the Senior Indebtedness. Nothing in this Section 7.7 affects the operation of any
Sample 1
AutoNDA by SimpleDocs

Related to Applicability of Priorities

  • Applicability of Plan The Option and the shares of Common Stock issued to the Optionee upon exercise of the Option shall be subject to all of the terms and provisions of the Plan, to the extent applicable to the Option and such shares. In the event of any conflict between this Agreement and the Plan, the terms of the Plan shall control.

  • Applicability of Rights The Holders (as defined below) shall be entitled to the following rights with respect to any proposed public offering of the Company’s Ordinary Shares in the United States and shall be entitled to reasonably equivalent or analogous rights with respect to any other offering of the Company’s securities in Hong Kong or any other jurisdiction in which the Company undertakes to publicly offer or list such securities for trading on a recognized securities exchange.

  • Applicability of Rule 419 Upon delivery and payment for the Units on the Closing Date and each Additional Closing Date, the Company will not be subject to Rule 419 under the Securities Act and none of the Company’s outstanding securities will be deemed to be a “xxxxx stock” as defined in Rule 3a51-1 under the Exchange Act.

  • Applicability of ISP Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of Credit.

  • Applicability of ISP and UCP Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit.

  • Applicability of ISP98 and UCP Unless otherwise expressly agreed by the applicable L/C Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) shall apply to each standby Letter of Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial letter of credit.

  • Applicability of This Article Redemption of Securities of any series (whether by operation of a sinking fund or otherwise) as permitted or required by any form of Security issued pursuant to this Indenture shall be made in accordance with such form of Security and this Article; provided, however, that if any provision of any such form of Security shall conflict with any provision of this Article, the provision of such form of Security shall govern.

  • Applicability of ISP98 Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) shall apply to each Letter of Credit.

  • Applicability of Certain Utah Rules The parties agree that the Arbitration shall be conducted generally in accordance with the Utah Rules of Civil Procedure and the Utah Rules of Evidence. More specifically, the Utah Rules of Civil Procedure shall apply, without limitation, to the filing of any pleadings, motions or memoranda, the conducting of discovery, and the taking of any depositions. The Utah Rules of Evidence shall apply to any hearings, whether telephonic or in person, held by the arbitrator. Notwithstanding the foregoing, it is the parties’ intent that the incorporation of such rules will in no event supersede these Arbitration Provisions. In the event of any conflict between the Utah Rules of Civil Procedure or the Utah Rules of Evidence and these Arbitration Provisions, these Arbitration Provisions shall control.

  • Remedies; Priorities (a) If an Event of Default shall have occurred and be continuing, the Indenture Trustee may do one or more of the following (subject to Section 5.05):

Time is Money Join Law Insider Premium to draft better contracts faster.