Rights and Obligations of the Lenders. In the event that, notwithstanding the foregoing provisions prohibiting such payment or distribution, the Agent or any Lender shall have received any payment on account of any Obligation (other than as permitted by Sections (a) and (b) of this Section 8.2) at a time when such payment is prohibited by this Section 8.2, then and in such event such payment or distribution shall be received and held in trust for the Representative of the holders of the Senior Debt of the Company and shall be paid over or delivered to Representative of the holders of the Senior Debt of the Company remaining unpaid to the extent necessary to pay in full in cash or Cash Equivalent Investments all Senior Debt of the Company in accordance with their terms after giving effect to any concurrent payment or distribution to the holders of such Senior Debt of the Company. If payment of the Obligations is accelerated because of an Event of Default, the Company shall promptly notify the Representative of the holders of Senior Debt of the Company of the acceleration. If any Senior Debt is outstanding, the Company may not make any payment on account of such accelerated Obligations until five Business Days after such Representative receives notice of such acceleration and, thereafter, may pay the Obligations only if this Section 8 otherwise permits payment at that time. Upon any payment or distribution of assets or securities referred to in this Section 8, the Lenders (notwithstanding any other provision of this Agreement) shall be entitled to rely upon any order or decree of a court of competent jurisdiction in which such dissolution, winding up, liquidation or reorganization proceedings are pending, and upon a certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making any such payment or distribution, delivered to the Lenders for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of Senior Debt of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 8. The Company shall give written notice to each of the Lenders of any default or event of default under any Senior Debt of the Company or under any agreement pursuant to which Senior Debt of the Company may have been issued, and, in the event of any such event of default, shall provide to the Agent the names and addresses of the Representatives of hold...
Rights and Obligations of the Lenders. (1) Unless otherwise provided in this Agreement, the obligations of the Lenders under this Agreement shall be independent, and no Lender shall be released from its obligations under this Agreement for the reason that any other Lender fails to perform such obligations. No Lender shall be responsible for the failure of any other Lenders to perform its obligations under this Agreement.
Rights and Obligations of the Lenders. In the event that, ------------------------------------- notwithstanding the foregoing provisions prohibiting such payment or distribution, the Agent or any Lender shall have received any payment in respect of any Obligation (other than as permitted by Sections (a) and (b) of this Section 8.2) at a time when such payment is prohibited by this Section 8.2, then and in such event such payment or distribution shall be received and held in trust for the holders of the Senior Indebtedness of the Borrower and shall be paid over or delivered to the holders of the Senior Indebtedness of the Borrower remaining unpaid to the extent necessary to pay in full in cash or Cash Equivalents all Senior Indebtedness of the Borrower in accordance with the terms thereof after giving effect to any concurrent payment or distribution to the holders of such Senior Indebtedness of the Borrower. If payment in respect of the Obligations is accelerated because of an Event of Default, the Borrower shall promptly notify the agent or other representatives for Senior Indebtedness of the Borrower of such acceleration.
Rights and Obligations of the Lenders. AND THE AGENT SECTION 14.01. ADJUSTMENTS AMONG LENDERS. SECTION 14.02. SHARING OF PAYMENTS. SECTION 14.03. SALE OF PARTICIPATIONS. SECTION 14.04. NATURE OF REVOLVING CREDIT COMMITMENTS. SECTION 14.05. SHARING OF COSTS AND EXPENSES. SECTION 14.06. SHARING OF PAYMENTS. SECTION 14.07. ASSIGNMENTS. SECTION 14.08. ACKNOWLEDGEMENTS BY AGENT. SECTION 14.09. TERMINATION OF FINANCING AGREEMENT.
Rights and Obligations of the Lenders. In the event that, notwithstanding the foregoing provisions prohibiting such payment or distribution, the Agent or any Lender shall have received any payment in respect of any Guarantee Obligation with respect to the Loans (other than as permitted by Sections (a) and (b) of this Section 11.2) at a time when such payment is prohibited by this Section 11.2, then and in such event such payment or distribution shall be received and held in trust for the holders of the Subsidiary Guarantor Senior Indebtedness and shall be paid over or delivered to the holders of the Subsidiary Guarantor Senior Indebtedness remaining unpaid to the extent necessary to pay in full in cash or Cash Equivalents all Subsidiary Guarantor Senior Indebtedness in accordance with their terms after giving effect to any concurrent payment or distribution to the holders of such Subsidiary Guarantor Senior Indebtedness. Nothing contained in this Section 11 will limit the right of the Lenders to take any action to accelerate the maturity of the Loans pursuant to Section 7 or to pursue any rights or remedies hereunder or otherwise.
Rights and Obligations of the Lenders. 1.- The rights and obligations corresponding to each LENDER by virtue of this Agreement shall be joint. Rights may be exercised by each holder with full autonomy and independence of the rights to be exercised by another LENDER, unless otherwise expressly arranged in this Agreement.
