Forbearance of Legal Remedies. (a) Until the Senior Indebtedness is Finally Paid, the Subordinated Lender shall not, without the prior written consent of the Senior Agent, exercise any Subordinated Lender Remedies.
Forbearance of Legal Remedies. 7.1 Until the Senior Indebtedness is Finally Paid, the Subordinated Lender shall not, without the prior written consent of the Senior Lender, exercise any Subordinated Lender Remedies, until the earliest to occur of the following:
Forbearance of Legal Remedies. For a period of 180 days after ----------------------------- delivery of a Default Notice, as provided in subsection 4(b) above, Junior --------------- Lender shall not exercise any Subordinated Lender Remedies or other remedies it may have for a default under the Subordinated Debt Documents, except as permitted below. Whether or not a Default Notice is then in effect, Junior Lender may exercise one or more or all of the following rights or remedies (in each case, subject at all times to the payment subordination and lien subordination provisions as set forth in this Agreement), but only the following rights and remedies, after prior written notice to Foothill and upon the occurrence of any of the following conditions, including any such occurrence during the effective period of any Default Notice: (i) an Insolvency Event shall occur, or (ii) Foothill commences legal proceedings against the Debtor: (x) accelerate payment of the Subordinated Debt; (y) commence legal proceedings against Debtor and, if requested by Foothill, become a co-plaintiff in any legal proceedings commenced by Foothill, provided, that in no event shall Junior Lender be permitted to execute on any judgment obtained against Debtor until the Senior Debt shall have been paid in full, in cash, or payment provided for in cash (or other consideration acceptable to Foothill in its sole discretion and agreed to by Foothill) unless the proceeds of such execution or judgment are paid to Foothill for application against the Senior Debt, and further provided that Junior Lender shall not be permitted to execute on any judgment obtained against Debtor if the only predicate act above is the acceleration of payment of the Senior Debt; and (z) file a proof of claim or otherwise participate in any Insolvency Event. Junior Lender agrees to provide Foothill with not less than fifteen (15) Business Days prior written notice of its intent to exercise any legal remedy other than as set forth in clause (b) above, which notice may be given during the period of time that a Default Notice is in effect.
Forbearance of Legal Remedies. (a) Until the Senior Indebtedness is Finally Paid, neither the Subordinated Agent nor the Subordinated Lenders shall, without the prior written consent of the Senior Agent, exercise any Subordinated Lender Remedies, any earlier than One Hundred Eighty (180) days (such period, a "Remedies Blockage Period") after delivery of written notice by the Subordinated Agent to the Senior Agent of its (or their) intention to take any such Subordinated Lender Remedies (a "Remedies Notice");; provided, that such Remedies Blockage Period shall terminate upon the earliest to occur of the following:
Forbearance of Legal Remedies. (a) Nothing contained in this Agreement is intended to or shall:
Forbearance of Legal Remedies. Without first obtaining the prior written consent of the Lender, the Subordinated Parties shall not exercise any remedies it may have for an event of default or any other default occurs under the Subordinated Loan Documents until the Final Payment of the Senior Indebtedness.
Forbearance of Legal Remedies. (A) Subordinated Lender shall not exercise any remedies it may have for an Event of Default under the Subordinated Loan Documents, except as permitted below. The Subordinated Lender may exercise any of its rights and remedies (in each case, subject at all times to the payment subordination and lien subordination provisions set forth in this Agreement), at any time, including, without limitation, accelerating the Subordinated Indebtedness; provided, however, that the Subordinated Lender may not exercise any of its remedies (including, without limitation, accelerating the Subordinated Indebtedness) during a Standstill Period unless: (a) an Insolvency Proceeding shall occur, (b) the Senior Lender commences legal proceedings against the Borrower, or (c) payment of the Senior Indebtedness is accelerated.
Forbearance of Legal Remedies. The Subordinated Lender shall not exercise any Subordinated Lender Remedies or other remedies it may have for a default under the Subordinated Documents, except as permitted below. Subordinated Lender may exercise one or more or all of the following rights and remedies (in each case, subject at all times to the payment subordination and lien subordination provisions set forth in this Agreement), but only the following rights and remedies, after prior written notice to Senior Lender and upon the occurrence of any of the following conditions: (A) an Insolvency Proceeding shall occur, or (B) the Senior Lender commences legal proceedings against the Borrower:
Forbearance of Legal Remedies. (a) Until the Senior Indebtedness is Finally Paid, the Subordinated Lender shall not, without the prior written consent of the Senior Lender, exercise any Subordinated Lender Remedies. (b) Notwithstanding anything contained herein to the contrary or any rights or remedies available to the Subordinated Lender under any of the Subordinated Documents, applicable law or otherwise, prior to the time that the Senior Indebtedness has been Finally Paid, any payments, distributions or other proceeds obtained by Subordinated Lender from the exercise of any Subordinated Lender Remedies shall in any event be held in trust by it for the benefit of the Senior Lender and promptly paid or delivered to the Senior Lender in the form received except to the extent the same is permitted to be paid to and kept by the Subordinated Lender in accordance with Section 6 hereof.. 8.
Forbearance of Legal Remedies. (A) The Subordinated Lender, prior to the Final Payment of the Senior Indebtedness, shall have no right to enforce any claim with respect to the Subordinated Indebtedness, or otherwise to take any action (other than to file its claim in any proceeding under the Bankruptcy Code) against Borrower or any Obligor or Borrower's or any Obligor's property without the prior written consent of Senior Lender; provided, that, in the event that the Borrower shall fail to make an Allowed Payment and such failure continues for a period of thirty (30) days after written notice thereof is given to Senior Lender by the Subordinated Lender (unless such failure is at a time when any applicable Required Condition has not been satisfied), then the Subordinated Lender may file and prosecute a lawsuit against the Borrower for payment thereof (but the Subordinated Lender shall not enforce its Liens other than in connection with an enforcement by Senior Lender and on a basis reasonably approved by Senior Lender, in advance, as not being prejudicial to the interests of Senior Lender, as senior lien holder).
