By Obligor Sample Clauses

By Obligor. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS SECTION 14.1, OBLIGOR WILL NOT, WITHOUT THE PRIOR WRITTEN CONSENT OF CORPORATE OBLIGEE, LEASE ANY ITEM OF EQUIPMENT, OR ASSIGN, TRANSFER OR ENCUMBER ITS RIGHTS, INTERESTS OR OBLIGATIONS HEREUNDER. ANY ATTEMPTED LEASE IN VIOLATION HEREOF AND ANY ASSIGNMENT, TRANSFER OR ENCUMBERING BY OBLIGOR OF ITS RIGHTS, INTERESTS OR OBLIGATIONS HEREUNDER IN VIOLATION HEREOF SHALL BE NULL AND VOID. Obligor may, without Corporate Obligee’s consent, lease any Item of Equipment to Subsidiaries of Obligor in the ordinary course of business. Any such lease or financing agreement (together will all amendments, modifications and supplements thereto, a “Subsidiary Equipment Agreement”) shall be, and shall expressly state that it is, subject and subordinate in all respects to this Equipment Agreement and the rights of Corporate Obligee (and any Assignee) hereunder including Corporate Obligee’s right to possession of the Equipment upon an Equipment Agreement Event of Default, shall prohibit subleasing, shall not have a term that may exceed the remaining portion of the Term of such Item of Equipment, and shall be secured by a first priority security interest granted by such Subsidiary in favor of Obligor, which security interest shall be a perfected security interest for all Equipment located in the United States. Obligor and Corporate Obligee hereby acknowledge and agree that Obligor leased certain of the Original Equipment to certain of its Subsidiaries under Subsidiary Equipment Agreements in accordance with the terms of the Original Equipment Agreement and that Obligor shall amend such Subsidiary Equipment Agreements within ten (10) days hereof to the extent necessary as a result of the amendments, assignments and assumptions that occurred on the Restructuring Date. Obligor shall promptly deliver to Security Trustee the original counterpart of each Subsidiary Equipment Agreement and shall provide prompt notice to Corporate Obligee (including the name and address of the lessee) of any lease or sublease to or financing agreement with a third party having a term coterminous with the then current Term of the Items of Equipment subject to such lease, sublease or financing agreement. Obligor shall deliver a certified schedule of all such leases, subleases and financing agreements to Corporate Obligee by March 31 and September 30 of each year during the Term that were in effect at any time during the preceding calendar year and otherwise a...
Sample 1
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By Obligor. EXCEPT IN CONNECTION WITH A TRANSACTION PERMITTED BY SECTIONS 12(b) or 14(c) AND TEMPORARY RELINQUISHMENTS OF POSSESSION PERMITTED BY SECTION 10, OBLIGOR SHALL NOT, WITHOUT THE PRIOR WRITTEN CONSENT OF OBLIGEE, SUBLEASE OR OTHERWISE RELINQUISH POSSESSION OF ANY ITEM OF EQUIPMENT, OR ASSIGN, TRANSFER OR ENCUMBER ITS RIGHTS, INTERESTS OR OBLIGATIONS HEREUNDER AND ANY ATTEMPTED SUBLEASE, RELINQUISHMENT, ASSIGNMENT, TRANSFER OR ENCUMBERING BY OBLIGOR SHALL BE NULL AND VOID.
Sample 1

Related to By Obligor

  • Obligor The word "Obligor" means without limitation any and all persons obligated to pay money or to perform some other act under the Collateral.

  • No set-off by Obligors All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim.

  • Guarantor The word "Guarantor" means and includes without limitation each and all of the guarantors, sureties, and accommodation parties in connection with any Indebtedness.

  • The Guarantor The Guarantor is hereby made a party to the Indenture.

  • Originator The Person that originated the Mortgage Loan pursuant to a written agreement with the related Mortgagor.

  • Account Debtor The words "Account Debtor" mean the person or entity obligated upon an Account.

  • Security and Financial Indebtedness (a) No Security or Quasi-Security exists over all or any of the present or future assets of any member of the Group other than as permitted by this Agreement.

  • Obligors (a) A copy of the constitutional documents of each Obligor.

  • Collection of Accounts, General Intangibles and Negotiable Collateral At any time upon the occurrence and during the continuance of an Event of Default, Agent or Agent’s designee may (a) notify Account Debtors of any Grantor that the Accounts, General Intangibles, Chattel Paper or Negotiable Collateral of such Grantor have been assigned to Agent, for the benefit of the Lender Group and the Bank Product Providers, or that Agent has a security interest therein, and (b) collect the Accounts, General Intangibles and Negotiable Collateral of any Grantor directly, and any collection costs and expenses shall constitute part of such Grantor’s Secured Obligations under the Loan Documents.

  • Insured or Guaranteed Loans If any Loans being transferred pursuant to this Agreement, including the Shared-Loss Agreements, are insured or guaranteed by any department or agency of any governmental unit, federal, state or local, Assuming Institution represents that Assuming Institution has been approved by such agency and is an approved lender or mortgagee, as appropriate, if such approval is required. Assuming Institution further assumes full responsibility for determining whether or not such insurance or guarantees are in full force and effect on the date of this Agreement and with respect to those Loans whose insurance or guaranty is in full force and effect on the date of this Agreement, Assuming Institution assumes full responsibility for doing all things necessary to insure such insurance or guarantees remain in full force and effect. Assuming Institution agrees to assume all of the obligations under the contract(s) of insurance or guaranty, agrees to cooperate with the Receiver where necessary to complete forms required by the insuring or guaranteeing department or agency to effect or complete the transfer to Assuming Institution.

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