Common use of No Other Restrictions Clause in Contracts

No Other Restrictions. Except as expressly set forth in this Agreement, each Term Secured Party and each ABL Secured Party shall have any and all rights and remedies it may have as a creditor under applicable law, including the right to the Exercise of Any Secured Creditor Remedies; provided, however, that the Exercise of Secured Creditor Remedies with respect to the Collateral shall be subject to the provisions of this Agreement. The ABL Agent may enforce the provisions of the ABL Documents, the Term Agent may enforce the provisions of the Term Documents and each may Exercise Any Secured Creditor Remedies, all in such order and in such manner as each may determine in the exercise of its sole discretion, consistent with the terms of this Agreement and mandatory provisions of applicable law; provided, however, that each of the ABL Agent and the Term Agent agrees to provide to the other (x) an Enforcement Notice prior to the commencement of an Exercise Any Secured Creditor Remedies and (y) copies of any notices that it is required under applicable law to deliver to any Borrower or any Guarantor; provided further, however, that the ABL Agent’s failure to provide any such copies to the Term Agent (but not the Enforcement Notice) shall not impair any of the ABL Agent’s rights hereunder or under any of the ABL Documents and the Term Agent’s failure to provide any such copies to the ABL Agent (but not the Enforcement Notice) shall not impair any of the Term Agent’s rights hereunder or under any of the Term Documents. Each of the Term Agent (on behalf of itself and the Term Secured Parties) and the ABL Agent (on behalf of itself and the ABL Secured Parties) agrees (i) that it will not institute any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any claim, in the case of the Term Agent and each Term Secured Party, against either the ABL Agent or any other ABL Secured Party, and in the case of the ABL Agent and each other ABL Secured Party, against either the Term Agent or any other Term Secured Party, seeking damages from or other relief by way of specific performance, instructions or otherwise, with respect to, any action taken or omitted to be taken by such Person with respect to the Collateral which is consistent with the terms of this Agreement, and none of such Parties shall be liable for any such action taken or omitted to be taken, or (ii) it will not be a petitioning creditor or otherwise assist in the filing of an involuntary Insolvency Proceeding absent the express written consent of the other Agent.

Appears in 1 contract

Samples: Abl Credit Agreement (Lands End Inc)

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No Other Restrictions. Except as expressly set forth in this Agreement, each Term of the Secured Party Agents and each ABL the Secured Party Creditors shall have any and all rights and remedies it may have as a creditor under applicable law, including the right to the Exercise of Any Secured Creditor Remedies; provided, however, that the Exercise of Secured Creditor Remedies with respect to the Collateral shall be subject to the Lien Priority and to the provisions of this Agreement, including Sections 4.1 and 6 hereof. The ABL Each Secured Party Agent may enforce the provisions of the ABL Documents, the Term Agent may enforce the provisions of the Term applicable Secured Debt Documents and each may Exercise Any Secured Creditor Remedies, all in such order and in such manner as each may determine in the exercise of its sole discretion, consistent with the terms of this Agreement and mandatory provisions of applicable law; provided, however, that each of the ABL Agent and the Term Secured Party Agent agrees to provide to the each other (x) an Enforcement Notice prior to the commencement of an Exercise Any Secured Creditor Remedies and (y) Party copies of any notices that it is required under applicable law to deliver to any Borrower or any Guarantor; provided provided, further, however, that the ABL such Secured Party Agent’s failure to provide any such copies to the Term Agent (but not the Enforcement Notice) any other Party shall not impair any of the ABL such Secured Party Agent’s rights hereunder or under any of the ABL Documents and the Term Agent’s failure to provide any such copies to the ABL Agent (but not the Enforcement Notice) shall not impair any of the Term Agent’s rights hereunder or under any of the Term applicable Senior Debt Documents. Each of the Term Agent (on behalf of itself and the Term Secured Parties) and the ABL Agent (on behalf of itself and the ABL Secured Parties) Party Agents agrees (i) that it will not institute any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any claim, in the case of the Term Agent and each Term claim against any other Secured Party, against either the ABL Party Agent or any other ABL Secured Party, and in the case of the ABL Agent and each other ABL Secured Party, against either the Term Agent or any other Term Secured Party, Creditor represented thereby seeking damages from or other relief by way of specific performance, instructions or otherwise, with respect to, any action taken or omitted to be taken by such Person with respect to the Collateral which that is consistent with the terms of this Agreement, and none of such Parties Persons shall be liable for any such action taken or omitted to be taken, or (ii) it will not be a petitioning creditor or otherwise assist in the filing of an involuntary Insolvency Proceeding absent the express written consent of the other Agent.

Appears in 1 contract

Samples: Intercreditor Agreement (HSI IP, Inc.)

No Other Restrictions. Except as expressly set forth in this Agreement, each Term Secured Party Agent and each ABL Secured Party Creditor shall have any and all rights and remedies it may have as a creditor under applicable law, including the right to the Exercise of Any Secured Creditor Remedies; provided, however, that the Exercise of Secured Creditor Remedies with respect to the Collateral shall be subject to the Lien Priority and to the provisions of this Agreement, including Section 4.1. The ABL Each Secured Party Agent may enforce the provisions of the ABL applicable Secured Debt Documents, the Term Agent may enforce the provisions of the Term Documents and each Secured Party Agent may Exercise Any Secured Creditor Remedies, all in such order and in such manner as each may determine in the exercise of its sole discretion, consistent with the terms of this Agreement and mandatory provisions of applicable law; provided, however, that each of the ABL Agent and the Term Secured Party Agent agrees to provide to the each other (x) an Enforcement Notice prior to the commencement of an Exercise Any Secured Creditor Remedies and (y) such Party copies of any notices that it is required under applicable law to deliver to any Borrower or any GuarantorCredit Party; provided provided, further, however, that the ABL any Secured Party Agent’s failure to provide any such copies to the Term Agent (but not the Enforcement Notice) any other such Party shall not impair any of the ABL Secured Party Agent’s rights hereunder or under any of the ABL Documents and the Term Agent’s failure to provide any such copies to the ABL Agent (but not the Enforcement Notice) shall not impair any of the Term Agent’s rights hereunder or under any of the Term applicable Secured Debt Documents. Each of the Term Except as may be separately otherwise agreed by and between or among any applicable Secured Party Agents, each Secured Party Agent (agrees for and on behalf of itself and the Term each Secured Parties) Creditor represented thereby that such Secured Party Agent and the ABL Agent (on behalf of itself and the ABL each such Secured Parties) agrees (i) that it Creditor will not institute any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any claim, in the case of the Term Agent and each Term claim against any other Secured Party, against either the ABL Party Agent or any other ABL Secured Party, and in the case of the ABL Agent and each other ABL Secured Party, against either the Term Agent or any other Term Secured Party, Creditor represented thereby seeking damages from or other relief by way of specific performance, instructions or otherwise, with respect to, to any action taken or omitted to be taken by such Person with respect to the Collateral which that is consistent with the terms of this Agreement, and none of such Parties Persons shall be liable for any such action taken or omitted to be taken, or (ii) it will not be a petitioning creditor or otherwise assist in the filing of an involuntary Insolvency Proceeding absent the express written consent of the other Agent.

Appears in 1 contract

Samples: Intercreditor Agreement (Servicemaster Co)

No Other Restrictions. Except as expressly set forth in this Agreement, each Term of the Note Collateral Agent, each Secured Party HY Note Holder, the Revolving Credit Agent and each ABL Revolving Secured Party shall have any and all rights and remedies it may have as a creditor under applicable law, including the right to the Exercise of Any Secured Creditor Remedies; provided, however, that the Exercise of Secured Creditor Remedies with respect undertake Enforcement actions to the Collateral shall be subject to the provisions of this Agreementextent permitted under Section 2.3(a). The ABL Revolving Credit Agent may enforce the provisions of the ABL DocumentsRevolving Loan Agreements and, except as otherwise provided herein, the Term Note Collateral Agent may enforce the provisions of the Term Secured HY Documents and and, except as otherwise provided herein, each may Exercise Any Secured Creditor Remediesundertake Enforcement Actions, all in such order and in such manner as each may determine in the exercise of its sole discretion, consistent with the terms of this Agreement and mandatory provisions of applicable law; provided, however, that each of the ABL Agent and the Term Revolving Credit Agent agrees to provide to the other Note Collateral Agent (x) an Enforcement Notice prior to the commencement of an Exercise Any Secured Creditor Remedies undertaking any Enforcement Action, and (y) copies of any notices that it is required under applicable law to deliver to any Borrower or Loan Party; provided, further, that the Note Collateral Agent shall provide to the Revolving Credit Agent copies of any Guarantor; provided notices sent to the Company of the occurrence of a Secured HY Event of Default, provided, further, however, that the ABL Agentany Party’s failure to provide any such copies to the Term Agent (but not the Enforcement Notice) other Party shall not impair any of the ABL AgentParty’s rights hereunder or under any of the ABL Documents and the Term Agent’s failure to provide any such copies to the ABL Agent (but not the Enforcement Notice) shall not impair any of the Term Agent’s rights hereunder Revolving Loan Agreements or under any of the Term Secured HY Documents, as applicable. Each of the Term Agent (on behalf of itself and the Term Secured Parties) and the ABL Agent (on behalf of itself and the ABL Secured Parties) Party agrees (i) that it will not institute any suit or other proceeding or asserting and will not assert in any suit, Insolvency Proceeding or other proceeding proceeding, any claim, in claim against the case of the Term Agent and each Term Secured Party, against either the ABL Agent or any other ABL Secured Party, and in the case of the ABL Agent and each other ABL Secured Party, against either the Term Agent or any other Term Secured Party, Party seeking damages from or other relief by way of specific performance, instructions or otherwise, with respect to, any action taken or omitted to be taken by such Person with respect to the Collateral which is consistent with the terms of this Agreement, and none of such Parties shall be liable for any such action taken or omitted to be taken, or (ii) it will not be a petitioning creditor or otherwise assist in the filing of an involuntary Insolvency Proceeding absent the express written consent of the other AgentProceeding.

Appears in 1 contract

Samples: Intercreditor Agreement (Great Atlantic & Pacific Tea Co Inc)

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No Other Restrictions. Except as expressly otherwise set forth in this Agreement, each Term of the Secured Party Agents and each ABL the Secured Party Creditors shall have any and all rights and remedies it may have as a creditor under applicable law, including the right to the Exercise of Any Secured Creditor Remedies; provided, however, that any and all rights and remedies it may have as a creditor under applicable law with respect to the Collateral, including the Exercise of Secured Creditor Remedies with respect to the Collateral shall be subject to the Lien Priority and to the provisions of this Agreement, including Section 4.1 hereof. The ABL Except as otherwise set forth in this Agreement, each Secured Party Agent may enforce the provisions of the ABL applicable Secured Debt Documents, the Term Agent may enforce the provisions of the Term Documents and each may Exercise Any Secured Creditor Remedies, all in such order and in such manner as each may determine in the exercise of its sole discretion, consistent with the terms of this Agreement and mandatory provisions of applicable law; provided, however, that each of the ABL Agent and the Term Secured Party Agent agrees to provide to the each other (x) an Enforcement Notice prior to the commencement of an Exercise Any Secured Creditor Remedies and (y) such Party copies of any notices that it is required under applicable law to deliver to any Borrower or any Guarantor; provided provided, further, however, that the ABL such Secured Party Agent’s failure to provide any such copies to the Term Agent (but not the Enforcement Notice) any other such Party shall not impair any of the ABL such Secured Party Agent’s rights hereunder or under any of the ABL Documents and the Term Agent’s failure to provide any such copies to the ABL Agent (but not the Enforcement Notice) shall not impair any of the Term Agent’s rights hereunder or under any of the Term applicable Secured Debt Documents. Each of the Term Agent (on behalf of itself and the Term Secured Parties) and the ABL Agent (on behalf of itself and the ABL Secured Parties) Party Agents agrees (i) that it will not institute any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any claim, in the case of the Term Agent and each Term claim against any other Secured Party, against either the ABL Party Agent or any other ABL Secured Party, and in the case of the ABL Agent and each other ABL Secured Party, against either the Term Agent or any other Term Secured Party, Creditor represented thereby seeking damages from or other relief by way of specific performance, instructions or otherwise, with respect to, any action taken or omitted to be taken by such Person with respect to the Collateral which that is consistent with the terms of this Agreement, and none of such Parties Persons shall be liable for any such action taken or omitted to be taken, or (ii) it will not be a petitioning creditor or otherwise assist in the filing of an involuntary Insolvency Proceeding absent the express written consent of the other Agent.

Appears in 1 contract

Samples: Intercreditor Agreement (L Brands, Inc.)

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