Common use of Parties Having Other Relationships Clause in Contracts

Parties Having Other Relationships. Each Secured Party acknowledges and agrees that now and in the future the other Secured Parties or their respective Affiliates may lend to the Company or any of its Subsidiary Entities on a basis other than as covered by this Agreement or may accept deposits from, act as trustee under indentures of, act as servicing bank, cash management bank or any similar function under any credit relationship with, and generally engage in any kind of business with the Company or any of its Subsidiaries, all as if such Person were not a party to this Agreement. Except as set forth herein, each Secured Party acknowledges that the other Secured Parties and their respective Affiliates may exercise all contractual and legal rights and remedies which may exist from time to time with respect to such other existing and future relationships without any duty to account therefor to the other Secured Parties except as necessary to establish compliance with the provisions of this Agreement.

Appears in 3 contracts

Samples: Collateral Agency and Intercreditor Agreement (American Capital, LTD), Collateral Trust and Intercreditor Agreement (American Capital, LTD), Collateral Trust and Intercreditor Agreement (American Capital, LTD)

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Parties Having Other Relationships. Each Secured Party acknowledges and agrees that now and in the future the other Secured Parties or their respective Affiliates may lend to the Company or any of its Subsidiary Entities Subsidiaries on a basis other than as covered by this Agreement or may accept deposits from, act as trustee under indentures of, act as servicing bank, cash management bank or any similar function under any credit relationship with, and generally engage in any kind of business with the Company or any of its Subsidiaries, all as if such Person were not a party to this Agreement. Except as set forth herein, each Secured Party acknowledges that the other Secured Parties and their respective Affiliates may exercise all contractual and legal rights and remedies which may exist from time to time with respect to such other existing and future relationships without any duty to account therefor to the other Secured Parties except as necessary to establish compliance with the provisions of this Agreement.

Appears in 2 contracts

Samples: Collateral Agency and Intercreditor Agreement (FS Energy & Power Fund), Collateral Trust Agreement (YRC Worldwide Inc.)

Parties Having Other Relationships. Each Secured Party acknowledges and agrees accepts that now and in the future the other Secured Parties or their respective Affiliates may lend to the Company or any of its Subsidiary Entities on a basis other than as covered by this Agreement or may accept deposits from, act as trustee under indentures of, act as servicing bank, cash management bank or any similar function under any credit relationship with, and generally engage in any kind of business with the Company or any of its SubsidiariesSubsidiary, all as if such Person were not a party to this Agreement. Except as set forth herein, each Secured Party acknowledges that the other Secured Parties and their respective Affiliates may exercise all contractual and legal rights and remedies which may exist from time to time with respect to such other existing and future relationships without any duty to account therefor to the other Secured Parties except as necessary to establish compliance with the provisions of this Agreement.

Appears in 2 contracts

Samples: Intercreditor and Collateral Agency Agreement, Intercreditor and Collateral Agency Agreement (Smithfield Foods Inc)

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Parties Having Other Relationships. Each Joined Secured Party acknowledges and agrees accepts that now and in the future the other Secured Parties or their respective Affiliates may lend to the Company or any of its Subsidiary Entities on a basis other than as covered by this Agreement or may accept deposits from, act as trustee under indentures of, act as servicing bank, cash management bank or any similar function under any credit relationship with, and generally engage in any kind of business with the Company or any of its SubsidiariesSubsidiary, all as if such Person were not a party to this Agreement. Except as set forth herein, each Joined Secured Party acknowledges that the other Secured Parties and their respective Affiliates may exercise all contractual and legal rights and remedies which may exist from time to time with respect to such other existing and future relationships without any duty to account therefor to the other Secured Parties except as necessary to establish compliance with the provisions of this Agreement.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Verenium Corp)

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