Common use of Restrictions on Actions by Lenders; Sharing of Payments Clause in Contracts

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties or any accounts of any of the Loan Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan Parties, including, without limitation, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 5 contracts

Samples: Loan and Security Agreement (Manhattan Bagel Co Inc), Loan and Security Agreement (Eddie Bauer Holdings, Inc.), Loan and Security Agreement (Eddie Bauer Holdings, Inc.)

AutoNDA by SimpleDocs

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Required Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set set-off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Borrower Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any other action to enforce its rights under this Agreement or against any of the Loan Borrower Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 5 contracts

Samples: Credit Agreement (Salton Inc), Credit Agreement (Salton Inc), Credit Agreement (Salton Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all the Required Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all the Required Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Obligor or any accounts of any of the Loan Parties Obligor now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesObligor, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the applicable Collateral.

Appears in 4 contracts

Samples: Credit Agreement (Herc Holdings Inc), Credit Agreement (United Rentals North America Inc), Credit Agreement (United Rentals North America Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 4 contracts

Samples: Loan and Security Agreement (Merisel Inc /De/), Trademark Security Agreement (Trend Lines Inc), Loan and Security Agreement (Revlon Consumer Products Corp)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all the Required Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all the Required Lenders, set off setoff against the Secured Obligations, any amounts owing by such Lender to any of the Loan Parties Obligor or any accounts of any of the Loan Parties Obligor now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesObligor, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 4 contracts

Samples: Loan and Security Agreement (Tultex Corp), Tultex Corp, Tultex Corp

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrowers, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 3 contracts

Samples: Loan Agreement (Unova Inc), Credit Agreement (Unova Inc), Loan Agreement (Unitrin Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Obligor or any accounts of any of the Loan Parties Obligor now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesObligor, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 3 contracts

Samples: Credit and Security Agreement (PSS World Medical Inc), Credit Agreement (PSS World Medical Inc), Credit Agreement (PSS World Medical Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Parties Borrowers now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrowers, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 3 contracts

Samples: Credit Agreement (Omnova Solutions Inc), Credit Agreement (Maxxam Inc), Credit Agreement (Unifi Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Parties Borrowers now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Administrative Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrowers, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Westpoint Stevens Inc), Credit Agreement (Unifrax Investment Corp)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to the Borrower or any ac- counts of the Loan Parties or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (United States Leather Inc /Wi/), Loan and Security Agreement (United States Leather Inc /Wi/)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all the Required Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all the Required Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Obligor or any accounts of any of the Loan Parties Obligor now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesObligor, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Caraustar Industries Inc), Credit Agreement (Caraustar Industries Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lendersthe Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all other Lenders, set set-off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Metals Usa Inc), Loan and Security Agreement (Metals Usa Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent unless it is lawfully entitled specifically requested to do so, upon so by the request of all LendersAgents, set off against the ObligationsLender Indebtedness, any amounts owing by such Lender to any of the Loan Parties Borrower or any other Credit Party, or any accounts of any of the Loan Parties Borrower or any other Credit Party, in any such case whether now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the AgentAgents, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan Borrowers and the other Credit Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Gerdau Ameristeel Corp), Credit Agreement (Gerdau Ameristeel Corp)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, shall to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Timco Aviation Services Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of ------------------------------------------------------------ the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Micro Devices Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all the Required Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all the Required Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Obligor or any accounts of any of the Loan Parties Obligor now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or 189 against any of the Loan PartiesObligor, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the applicable Collateral.

Appears in 1 contract

Samples: Credit Agreement (Herc Holdings Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Acme Parties or any accounts of any of the Loan Acme Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan Acme Parties, including, without limitation, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.. 130 138

Appears in 1 contract

Samples: Loan and Security Agreement (Acme Metals Inc /De/)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all the Agent or the Majority Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all the Majority Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Credit Party or any accounts of any of the Loan Parties Credit Party now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesCredit Party, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Saks Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenderseach Lender, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set set-off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Borrower Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any other action to enforce its rights under this Agreement or against any of the Loan Borrower Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Reimbursement and Senior Secured Credit Agreement (Salton Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all other Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Collateral Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Miller Industries Inc /Tn/)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the AgentCo-Agents, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Good Guys Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Required Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set set-off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Borrower Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent and the Co-Agent, take or cause to be taken any other action to enforce its rights under this Agreement or against any of the Loan Borrower Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

AutoNDA by SimpleDocs

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Administrative Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Kforce Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Administrative Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Kforce Com Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent unless it is lawfully entitled specifically requested to do so, upon the request of all Lenders, set off against the ObligationsLender Indebtedness, any amounts owing by such Lender to any of the Loan Parties Borrower or any other Credit Party, or any accounts of any of the Loan Parties Borrower or any other Credit Party, in any such case whether now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the AgentAgents, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan Borrowers and the other Credit Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Gerdau Ameristeel Corp)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Levi Strauss & Co)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Parties Borrowers now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Enpro Industries Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Parties such Persons now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or any other Loan Document or against any of the Loan PartiesBorrower, including, without limitation, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Mercury Finance Co)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all LendersLenders following any Event of Default, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Centrum Industries Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Obligated Parties or any accounts of any of the Loan Obligated Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan Obligated Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral. No Lender shall set off against any Payment Account without the prior consent of Agent.

Appears in 1 contract

Samples: Credit Agreement (Alon USA Energy, Inc.)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Parties Borrowers now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Administrative Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrowers, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Security Agreement (Cone Mills Corp)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of ------------------------------------------------------- the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Agribiotech Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lendersthe Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lendersthe Agent, set off against the Obligations, any amounts owing by such Lender to any of the Loan Parties or any accounts of any of the Loan Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Gentek Inc)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set set-off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrowers or any accounts of any of the Loan Borrower Parties now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any other action to enforce its rights under this Agreement or against any of the Loan Borrower Parties, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Andrx Corp /De/)

Restrictions on Actions by Lenders; Sharing of Payments. (a) Each of the Lenders agrees that it shall not, without the express consent of all Lendersthe Agent, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all other Lenders, set set-off against the Obligations, any amounts owing by such Lender to any of the Loan Parties Borrower or any accounts of any of the Loan Parties Borrower now or hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against any of the Loan PartiesBorrower, including, without limitation, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Metals Usa Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.