Common use of Permitted Actions Clause in Contracts

Permitted Actions. Except as otherwise expressly provided by this Agreement, Agent and Lenders may from time to time, in their sole discretion and without notice to any Obligor, take any or all of the following actions: (a) retain or obtain Liens in any assets of any Obligor or any other Person to secure any of the Obligations; (b) retain or obtain the primary or secondary obligation of any obligor or obligors, in addition to the Obligors, with respect to any of the Obligations; (c) extend or renew for one or more periods (whether or not longer than the original period), or, with the agreement of the Borrowers, alter or exchange any of the Obligations; (d) waive, ignore, or forbear from taking action or otherwise exercising any of its default rights or remedies with respect to any default by the Obligors under the Loan Documents; (e) release, waive, or compromise any obligation of the Obligors hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the Obligations; (f) release Agent’s Liens in, or surrender, release or permit any substitution or exchange for, all or any part of the Collateral now or hereafter securing any of the Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, compromise, alter or exchange any obligations of any nature of any Obligor with respect to any such property; and (g) demand payment or performance of any of the Obligations from any Obligor at any time or from time to time, whether or not Agent or any Lender has exercised any of its rights or remedies with respect to any property securing any of the Obligations or any obligation hereunder or proceeded against any other Obligor or other Person primarily or secondarily liable for payment or performance of any of the Obligations.

Permitted Actions. Except as otherwise expressly provided by this Agreement, Agent and Lenders may from time to time, in their sole discretion and without notice to any Obligor, take any or all of the following actions: (a) retain or obtain a Liens in any assets of any Obligor or any other Person to secure any of the Obligations; (b) retain or obtain the primary or secondary obligation of any obligor or obligors, in addition to the Obligors, with respect to any of the Obligations; (c) extend or renew for one or more periods (whether or not longer than the original period), or, with the agreement of the Borrowers, alter or exchange any of the Obligations; (d) waive, ignore, or forbear from taking action or otherwise exercising any of its default rights or remedies with respect to any default by the Obligors under the Loan Documents; (e) release, waive, or compromise any obligation of the Obligors hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the Obligations; (f) release Agent’s Liens in, or surrender, release or permit any substitution or exchange for, all or any part of the Collateral now or hereafter securing any of the Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, compromise, alter or exchange any obligations of any nature of any Obligor with respect to any such property; and (g) demand payment or performance of any of the Obligations from any Obligor at any time or from time to time, whether or not Agent or any Lender has exercised any of its rights or remedies with respect to any property securing any of the Obligations or any obligation hereunder or proceeded against any other Obligor or other Person primarily or secondarily liable for payment or performance of any of the Obligations.

Permitted Actions. Except as otherwise expressly provided by this AgreementThe holders of the Seller Notes may, Agent and Lenders may from time to time, in their sole discretion and without notice to any Obligorthe Guarantor, take any or all of the following actionsactions without affecting the liability of the Guarantor hereunder: (a) retain or obtain Liens a security interest in any assets of any Obligor or any other Person property to secure any of the Obligations; Guaranteed Obligations or any obligation hereunder, (b) retain or obtain the primary or secondary obligation of any obligor or obligors, in addition to the ObligorsGuarantor, with respect to any of the Guaranteed Obligations; , (c) extend or renew any of the Guaranteed Obligations for one or more periods (whether or not longer than the original period), or, with the agreement of the Borrowers, alter or exchange any of the Guaranteed Obligations; (d) waive, ignore, or forbear from taking action or otherwise exercising any of its default rights or remedies with respect to any default by the Obligors under the Loan Documents; (e) release, waive, release or compromise any obligation of the Obligors Guarantor hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the Guaranteed Obligations; , (fd) release Agent’s Liens any security interest in, or surrender, release or permit any substitution or exchange for, all or any part of the Collateral now or hereafter any property securing any of the Guaranteed Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, compromise, alter or exchange any obligations of any nature of any Obligor obligor with respect to any such property; property and (ge) demand resort to the Guarantor for payment or performance of any of the Guaranteed Obligations from any Obligor at any time or from time to timewhen due, whether or not Agent or any Lender has exercised any of its rights or remedies with respect holder shall have resorted to any property securing any of the Guaranteed Obligations or any obligation hereunder or shall have proceeded against any other Obligor or other Person obligor primarily or secondarily liable for payment or performance of obligated with respect to any of the Guaranteed Obligations.

Permitted Actions. Except as otherwise expressly provided by this AgreementThe Agent, Agent the Lenders and Lenders the Security Trustee may from time to time, in their sole discretion and without notice to any Obligoror consent of the Guarantors, take any or all of the following actions: : (a) retain or obtain Liens a security interest in any assets of any Obligor the Borrowers, the Guarantors or any other Person third party to secure any of the Guaranteed Obligations; ; (b) retain or obtain the primary or secondary obligation of any obligor or obligors, in addition to the ObligorsGuarantors, with respect to any of the Guaranteed Obligations; ; (c) extend or renew for one or more periods (whether or not longer than the original period), or, with the agreement of the Borrowers, alter or exchange any of the Guaranteed Obligations; ; (d) waive, ignore, ignore or forbear from taking action or otherwise exercising any of its default rights or remedies with respect to any default by the Obligors under the Loan Documents; ; (e) release, waive, waive or compromise any obligation of the Obligors Guarantors hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the Guaranteed Obligations; ; (f) release Agent’s Liens its Lien on or in, or surrender, release or permit any substitution or exchange for, all or any part of the Mortgaged Vessels or any other Collateral now or hereafter securing any of the Guaranteed Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, waive compromise, alter or exchange any obligations of any nature of any Obligor obligor with respect to any such property; and and (g) demand payment or performance of any of the Guaranteed Obligations from any Obligor the Guarantors at any time or from time to time, whether or not Agent the Agent, the Lenders or any Lender has the Security Trustee shall have exercised any of its rights or remedies with respect to any property securing any of the Guaranteed Obligations or any obligation hereunder hereunder, or proceeded against any other Obligor or other Person obligor (including the Borrowers) primarily or secondarily liable for payment or performance of any of the Guaranteed Obligations.

Permitted Actions. Except as otherwise expressly provided by this Agreement, the Agent and Lenders may from time to time, in their sole discretion and without notice to any Obligorthe Borrower, take any or all of the following actions: (ai) retain or obtain Liens a Lien in any assets asset of any Obligor or any other Person to secure any of the ObligationsLender Debt; (bii) retain or obtain the primary or secondary obligation of any obligor or obligors, in addition to the ObligorsBorrower, with respect to any of the ObligationsLender Debt; (ciii) extend or renew for one or more periods (whether or not longer than the original period), or, with the agreement of the BorrowersBorrower, alter or exchange any of the ObligationsLender Debt; (div) waive, ignore, or forbear from taking action or otherwise exercising any of its default rights or remedies with respect to any default by the Obligors Borrower under the Loan Documents; (ev) release, waive, or compromise any obligation of the Obligors Borrower hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the ObligationsLender Debt; (fvi) release Agent’s Liens in, or surrender, release or permit any substitution or exchange for, all or any part of the Collateral now or hereafter securing any of the Obligations Lender Debt or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, compromise, alter or exchange any obligations of any nature of any Obligor the Borrower with respect to any such property; and (gvii) demand payment or performance of any of the Obligations Lender Debt from any Obligor the Borrower at any time or from time to time, whether or not the Agent or any Lender has exercised any of its rights or remedies with respect to any property securing any of the Obligations Lender Debt or any obligation hereunder or proceeded against any other Obligor Borrower or other Person primarily or secondarily liable for payment or performance of any of the ObligationsLender Debt.

Permitted Actions. Except as otherwise expressly provided by this Agreement, Agent and Lenders may from time to time, in their sole discretion and without notice to any Obligor, take any or all of the following actions: (a) retain or obtain Liens in any assets of any other Obligor or any other Person Person, with the agreement of such other Obligor or other Person, to secure any of the Obligations; (b) retain or obtain the primary or secondary obligation of any obligor or obligors, in addition to the Obligors, with respect to any of the Obligations; (c) extend or renew for one or more periods (whether or not longer than the original period), or, with the agreement of the BorrowersObligors, alter or exchange any of the Obligations; (d) waive, ignore, or forbear from taking action or otherwise exercising any of its default rights or remedies with respect to any default by the Obligors under the Loan Documents; (e) release, waive, or compromise any obligation of the Obligors hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the Obligations; (f) release Agent’s Liens in, or surrender, release or permit any substitution or exchange for, all or any part of the Collateral now or hereafter securing any of the Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, compromise, alter or exchange any obligations of any nature of any Obligor with respect to any such property; and (g) demand payment or performance of any of the Obligations from any Obligor at any time or from time to time, whether or not Agent or any Lender has exercised any of its rights or remedies with respect to any property securing any of the Obligations or any obligation hereunder or proceeded against any other Obligor or other Person primarily or secondarily liable for payment or performance of any of the Obligations.

Permitted Actions. Except as otherwise expressly provided by (i) Without in any way limiting the generality of the foregoing paragraph (but subject to any rights of Obligors under the ABL Loan Documents and subject to the provisions of this Agreement), ABL Claimholders, ABL Agent and Lenders may any of them may, at any time and from time to timetime in accordance with the ABL Loan Documents and/or applicable law, in their sole discretion without the consent of, or notice to, Term Agent or any Term Loan Claimholders, without incurring any liabilities to Term Agent or any Term Loan Claimholders and without notice impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of Term Agent or any Term Loan Claimholders is affected, impaired, or extinguished thereby) do any one or more of the following without the prior written consent of Term Agent: (1) Subject to Sections 4.1 and 5.3(a), change the manner, place, or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase, or alter, the terms of any of the ABL Obligations or any Lien on any Collateral or guarantee thereof or any liability of any Obligor, take or any liability incurred directly or all indirectly in respect thereof (including any increase in or extension of the following actions: (aABL Obligations, without any restriction as to the tenor or terms of any such increase or extension) retain or obtain Liens otherwise amend, renew, exchange, extend, modify, or supplement in any assets manner any Liens held by ABL Agent or any ABL Claimholders, the ABL Obligations, or any of the ABL Loan Documents;; (2) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any part of the Collateral or any liability of any Obligor to ABL Claimholders or ABL Agent, or any liability incurred directly or indirectly in respect thereof; (3) settle or compromise any ABL Obligation or any other liability of any Obligor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the ABL Obligations) in any manner or order; and (4) exercise or delay in or refrain from exercising any right or remedy against any Obligor or any other Person person, elect any remedy and otherwise deal freely with any Obligor or any Collateral and any security and any guarantor or any liability of any ABL Obligor to secure ABL Claimholders or any liability incurred directly or indirectly in respect thereof. (ii) Without in any way limiting the generality of the foregoing paragraph (but subject to any rights of Obligors under the Term Loan Documents and subject to the provisions of this Agreement, Term Loan Claimholders, Term Agent and any of them may, at any time and from time to time in accordance with the Term Loan Documents and/or applicable law, without the consent of, or notice to, ABL Agent or any ABL Claimholders, without incurring any liabilities to ABL Agent or any ABL Claimholders and without impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of ABL Agent or any ABL Claimholders is affected, impaired, or extinguished thereby) do any one or more of the following without the prior written consent of ABL Agent: (1) Subject to Sections 4.1 and 5.3(b), change the manner, place, or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase, or alter, the terms of any of the Obligations; (b) retain Term Loan Obligations or obtain the primary any Lien on any Collateral or secondary obligation guarantee thereof or any liability of any obligor Obligor, or obligorsany liability incurred directly or indirectly in respect thereof (including any increase in or extension of the Term Loan Obligations, in addition without any restriction as to the Obligorstenor or terms of any such increase or extension) or otherwise amend, with respect to renew, exchange, extend, modify, or supplement in any manner any Liens held by Term Agent or any Term Loan Claimholders, the Term Loan Obligations, or any of the Obligations; Term Loan Documents; (c2) extend or renew for one or more periods (whether or not longer than the original period)sell, orexchange, with the agreement of the Borrowersrelease, alter or exchange any of the Obligations; (d) waivesurrender, ignorerealize upon, or forbear from taking action enforce or otherwise exercising deal with in any of its default rights or remedies with respect to manner and in any default by the Obligors under the Loan Documents; (e) release, waive, or compromise any obligation of the Obligors hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the Obligations; (f) release Agent’s Liens in, or surrender, release or permit any substitution or exchange for, all or order any part of the Collateral now or hereafter securing any of the Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, compromise, alter or exchange any obligations of any nature liability of any Obligor with to Term Loan Claimholders or ABL Agent, or any liability incurred directly or indirectly in respect thereof; (3) settle or compromise any Term Loan Obligation or any other liability of any Obligor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any such propertyliability (including the Term Loan Obligations) in any manner or order; and (4) exercise or delay in or refrain from exercising any right or remedy against any Obligor or any other person, elect any remedy and (g) demand payment otherwise deal freely with any Obligor or performance any Term Loan Collateral and any security and any guarantor or any liability of any of the Obligations from any Obligor at any time or from time to time, whether or not Agent Term Loan Claimholders or any Lender has exercised any of its rights liability incurred directly or remedies with indirectly in respect to any property securing any of the Obligations or any obligation hereunder or proceeded against any other Obligor or other Person primarily or secondarily liable for payment or performance of any of the Obligationsthereof.

Permitted Actions. Except as otherwise expressly provided by this Agreement, Agent and Lenders the Lender may from time to time, in their its sole discretion and without notice to any ObligorLoan Party, take any or all of the following actions: (ai) retain or obtain Liens a Lien in any assets asset of any Obligor Loan Party or any other Person to secure any of the ObligationsLender Debt; (bii) retain or obtain the primary or secondary obligation of any obligor or obligors, in addition to the ObligorsLoan Parties, with respect to any of the ObligationsLender Debt; (ciii) extend or renew for one or more periods (whether or not longer than the original period), or, with the agreement of the Borrowers, alter or exchange any of the ObligationsLender Debt; (div) waive, ignore, or forbear from taking action or otherwise exercising any of its default rights or remedies with respect to any default by the Obligors Loan Parties under the Loan Documents; (ev) release, waive, or compromise any obligation of the Obligors Loan Parties hereunder or any obligation of any nature of any other obligor primarily or secondarily obligated with respect to any of the ObligationsLender Debt; (fvi) release AgentLender’s Liens in, or surrender, release or permit any substitution or exchange for, all or any part of the Collateral now or hereafter securing any of the Obligations Lender Debt or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, waive, compromise, alter or exchange any obligations of any nature of any Obligor Loan Party with respect to any such property; and (gvii) demand payment or performance of any of the Obligations Lender Debt from any Obligor Loan Party at any time or from time to time, whether or not Agent or any the Lender has exercised any of its rights or remedies with respect to any property securing any of the Obligations Lender Debt or any obligation hereunder or proceeded against any other Obligor Loan Party or other Person primarily or secondarily liable for payment or performance of any of the ObligationsLender Debt.