Common use of Use and Possession of Certain Premises Clause in Contracts

Use and Possession of Certain Premises. Subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default, the Notes Collateral Agent shall be entitled to occupy and use any premises owned or leased by the Guarantors where any of the Collateral or any records relating to the Collateral are located until the Notes Obligations are paid in full or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor for such use and occupancy.

Appears in 4 contracts

Samples: Pledge and Security Agreement (Microchip Technology Inc), Pledge and Security Agreement (Microchip Technology Inc), Pledge and Security Agreement (Microchip Technology Inc)

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Use and Possession of Certain Premises. Subject If an Event of Default has occurred and is continuing, subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default, the Notes Collateral Agent shall be entitled to occupy and use any premises owned or leased by the Guarantors any Debtor where any of the Collateral or any records relating to the Collateral are located until the Notes Secured Obligations are paid in full or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor such Debtor for such use and occupancy.

Appears in 2 contracts

Samples: Intercreditor Agreement (Vanguard Natural Resources, Inc.), Intercreditor Agreement (Vanguard Natural Resources, LLC)

Use and Possession of Certain Premises. Subject to the terms of the Intercreditor Agreement, upon Upon the occurrence and during the continuance continuation of an Event of Default, subject to the Notes Collateral Intercreditor Agreement, the Agent shall be entitled to occupy and use any premises owned or leased by the Guarantors Grantors where any of the Collateral or any records relating to the Collateral are located until the Notes Secured Obligations are paid in full or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor for such use and occupancy, subject to Section 8.2 hereof all respects.

Appears in 2 contracts

Samples: Intercreditor Agreement (Weatherford International PLC), Intercreditor Agreement (Weatherford International PLC)

Use and Possession of Certain Premises. Subject to the terms of the Intercreditor Agreement, upon Upon the occurrence and during the continuance continuation of an Event of Default, subject to the Notes Collateral Intercreditor Agreement, the Agent shall be entitled to occupy and use any premises owned or leased by the Guarantors Grantors where any of the Collateral or any records relating to the Collateral are located until the Notes Secured Obligations are paid in full or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor for such use and occupancy, subject to Section 8.2 hereof in all respects.

Appears in 2 contracts

Samples: Intercreditor Agreement (Weatherford International PLC), Intercreditor Agreement (Weatherford International PLC)

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Use and Possession of Certain Premises. Subject If an Event of Default has occurred and is continuing, subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default, the Notes Collateral Agent shall be entitled to occupy and use any premises owned or leased by the Guarantors Issuer where any of the Collateral or any records relating to the Collateral are located until the Notes Secured Obligations are paid in full or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor the Issuer for such use and occupancy.

Appears in 2 contracts

Samples: Pledge and Security Agreement, Intercreditor Agreement (Vanguard Natural Resources, Inc.)

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